Tango Mining

Tango Mining to splash out on equipment for Oena diamond mine

Tango's right to mine at the Oena diamond mine in South Africa was renewed recently for a further nine years

Tango has stumped up for an additional 16-foot pan plant and a mobile screening unit

Tango Mining Limited (CVE:TGV) is to purchase an additional 16-foot pan plant and a mobile screening unit to be mobilized to the Oena diamond mine.

The equipment will be used to process pan tailings and bantam material left on site from previous mining operations, Tango said in a statement on Friday.

READ: Tango Mining says Oena mining licence has been renewed for nine years​

The total capital expenditure for the required equipment is expected to be in the range of C$500,000.

The company will rent a 40-tonne excavator, two 2.5-cubic-metre loaders and two 30-tonne dump trucks to support the processing of tailings.

Diamonds recovered from this operation will solely be for the account of the company. It is anticipated that this equipment will be mobilized to Oena and operational by the end of the second quarter.

The company said Bluedust 7 Pty continues its systematic and detailed geological work of Oena including the opportunity to assess the National Instrument 43-101 inferred resource and several other priority targets. This includes the systematic testing both run-of-mine (ROM) material in several separate areas, as well as tailings.

Quick facts: Tango Mining

Price: $0.02

Market: TSX-V
Market Cap: $3.49 m

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