Zinc play Tando says it’s on to something at Mt Sydney
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Tando Resources is getting a little bit excited about some new results, which suggest they have two sizeable zinc deposits on their hands.
An aerial electromagnetic survey in December indicated a large number of anomalies at the Mt Sydney project, along strike from Rumble Resources’ (ASX:RTR) Braeside Project in the east Pilbara.
Significantly, Tando’s (ASX:TNO) finds are aligned along major regional structures extending directly from the Braeside zinc and silver project.
Two days ago, Rumble said their maiden drilling program had found a high grade zinc discovery.
It reported intersections including 4 metres at 9.64 per cent zinc and 0.41 per cent lead from 32 metres, 2 metres at 3.08 per cent zinc and 2.98 per cent lead from 60 metres, and 3 metres at 2.19 per cent zinc and 0.95 per cent lead from 49 metres.
Managing director Bill Oliver says Tando’s work indicates they have similar targets deposit to those found by Rumble, but a second larger, deeper one is also present.
And its this second target that has him excited, even leading him to mention the “p” word – as in “porphyry”.
A porphyry is an intrusive rock with their size making even low concentrations of minerals economic to mine, meaning porphyry-hosted deposits are often referred to as ‘elephants’. However, like elephants they take some finding.
“With Rumble releasing their drill results stating they indicate a porphyry target and then seeing our results with these anomalies, I couldn’t have written a better script,” he told Stockhead.
“The combined strike length of the Braeside and Mt Sydney Projects implies a mineral system of a significant scale.”
He said the presence of coincident magnetic and electromagnetic anomalies was “a very interesting development”, and other deposit types including porphyry or other intrusion hosted deposits would need to be considered as they are exploring this target.
Examples in the area around the Mt Sydney Project include Newcrest’s gold-copper Telfer mine, Antipa Minerals’ gold-copper-silver Minyari Deposit, and Encounter Resources’ Yeneena zinc-copper deposits.
While Tando’s priority is zinc, it is also on the look-out for signs of conglomerate-hosted gold mineralisation across its projects.
The Mt Sydney 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.
The Hardey Formation has recently attracted significant attention from investors following on from regional activities by the likes of Novo Resources, Artemis Resources and DeGrey Mining.
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.
The project is prospective for zinc and copper mineralisation with historical exploration identifying a number of surface geochemical anomalies.
The next stage of exploration at the Mt Sydney Project will be to complete detailed geochemical surveys and geological mapping to refine the targets that were identified by the aerial survey and confirm whether the deep anomaly is in fact a target.
“We are going to need to do a lot of work in the field and collect data to assess what sort of target is there, or if its just something geological.”
Drilling results from Quartz Bore, the project that was first on Tando’s to-do list after it IPO’d last year, are also expected in January.
The brownfield Quartz Bore project lies next door to Venturex Resources’ Whim Creek and Salt Creek zinc-copper deposits.
This special report is brought to you by Tando Resources.
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