Tando Resources hit ‘massive sulphides’ in first Quartz Bore drilling
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Tando Resources has hit “massive sulphides” — a key sign of copper and zinc mineralisation — in initial drilling at its Quartz Bore site in the West Australian Pilbara region.
The Pilbara-focused zinc, copper and gold explorer — which raised $4.5 million in an oversubscribed initial public offering earlier month — is up more than 80 per cent on its 20c issue price.
Tando’s (ASX:TNO) maiden drill program at Quartz Bore is testing an area known for high-grade zinc and copper.
Drilling has found two 5-to-10-metre sulphide-bearing zones containing more than 10 per cent sulphide minerals.
“To intersect significant sulphides, including massive sulphides, in our first drillhole is very encouraging. It tallies well with the historical data,” managing director Bill Oliver told Stockhead.
“The focus of this initial program is to validate high-grade historical drilling results, and this intersection confirms our belief that the Quartz Bore Project has the potential to host a substantial body of mineralisation.”
Tando identified chalcopyrite, a copper-iron hosting sulphide, sphalerite which is a copper-hosting sulphide, and galena which is a lead-hosting sulphide.
Tando promised to have drilling started within a month of listing, and has quickly delivered with initial results. Assay [test] results are expected in mid-December.
The Quartz Bore project lies next door to Venturex Resources’ Whim Creek and Salt Creek zinc-copper deposits (see map below).
At Quartz Bore’s main prospect, Balla Balla, high-grade zinc and copper mineralisation is present in historical drilling over 600 metres. The mineralisation is open along strike and at depth.
Tando has another three holes to drill in the current program following a geophysical survey. Results from the survey will be used to design drilling in 2018 to test the extension of the ore body.
Potential for Pilbara gold
The Pilbara-focused zinc, copper and gold explorer — which raised $4.5 million in an oversubscribed initial public offering this month — is taking advantage of 10-year high base metal prices as well as the current investor appetite for conglomerate gold in the Pilbara.
In addition to Quartz Bore, Tando also owns two highly prospective greenfield zinc and copper projects located along strike from notable base metal projects in the Pilbara.
Its Mt Sydney project lies along strike from Rumble Resources’ Braeside lead, zinc and silver project in the east Pilbara which is currently being drilled.
Tando is on the look-out for signs of conglomerate-hosted gold mineralisation at Mt Sydney as well.
The project sits over the Hardey Formation, a sedimentary unit at the base of the Fortescue Group which is a key target for conglomerate-hosted gold mineralisation.
And the Mt Vernon project which lies along strike from Galena Mining’s Abra base metal deposit, is 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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