Tando Resources hits high-grade copper and zinc at Quartz Bore
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Explorer Tando Resources has struck high-grade copper and zinc in its Quartz Bore project in the Pilbara region of Western Australia.
Quartz Bore — one of three significant projects Tando is pursuing — lies next door to Venturex Resources’ Whim Creek and Salt Creek zinc-copper deposits.
Tando’s managing director Bill Oliver – who has worked as a geologist in the Pilbara — knows the area well and spotted Quartz Bore’s potential early on.
That foresight looks like paying off with the latest results from a maiden drilling program.
One drill-hole intersected a high-grade, copper-rich zone with 17m at 2.95 per cent copper (and 1.48 per cent zinc) from 340m.
Anything above 1.5 per cent is considered high-grade copper.
The results included 7m at 6.4 per cent copper and 3.2 per cent zinc as well as 2m at 14.3 per cent copper and 6.3 per cent zinc.
In January 2017, Venturex Resources (ASX:VXR) reported grades including 18.7m at 2.4 per cent copper and 9.85m at 8.8 per cent zinc at its nearby Salt Creek deposit.
Since then Venturex shares have doubled in value to around 1.6c, valuing the company at about $58 million.
Tando’s shares have climbed to 34.5c this year – compared to an issue price of 20c in last year’s $4.5 million capital raising.
But the company still has a market cap of only $8.7 million.
“Our maiden drilling program at Quartz Bore has given us a substantial dataset and important new insight,” Mr Oliver told investors.
“By systematically drilling along the strike of the deposit we are better placed to interpret the high-grade results from historical drilling, enabling more efficient infill drilling as well as identifying priority extensional targets.”
Quartz Bore is one of three significant projects Tando is pursuing and is currently the most advanced.
In today’s ASX release the company suggested it would focus on areas which might be mined by open pit — which could be a fast-track into production.
Tando also owns two highly prospective greenfields zinc‐copper projects located along strike from notable base metal projects in the Pilbara.
Earlier this year it reported a large number of electromagnetic (EM) anomalies at its Mt Sydney Project, along strike from Rumble Resources’ (ASX:RTR) Braeside Project in the east Pilbara.
Tando also owns the Mt Vernon project which lies along strike from Galena Mining’s Abra base metal deposit, regarded as one of the biggest, undeveloped lead deposits in the world.
This special report is brought to you by Tando Resources.
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