- Tsodilo Resources Limited ("Tsodilo" or the "Company") (TSX Venture Exchange: TSD) is pleased to report that the Minister, Ministry of Minerals, Energy and Water Resources has now granted three (3) Precious Stone -- Diamond Prospecting License ("PL") No. 0641 / 2009, No. 0642 / 2009 and No. 0643 / 2009 and four Metals (Base, Precious, Platinum Group Metals and Rare Earth Elements) Prospecting Licenses PL No. 588 / 2009, No. 595 / 2009, No. 596 / 2009 and No. 597 / 2009, to the Company's local, wholly-owned operating subsidiary Gcwihaba Resources (Pty) Ltd. "Gcwihaba"). These license areas are situated in the Ngamiland District in Northwest Botswana. The details of the Company's license blocks can be viewed on the Company's website at:
The diamond licenses are situated on an extension of the Archean Congo Craton, which hosts numerous economic kimberlite and alluvial diamond deposits and are adjacent to licenses in Namibia controlled by Namdeb Diamond Corporation (Pty), a company owned jointly by DeBeers and the government of Namibia. Initial target selection in this area was based upon screening of remote sensing, aeromagnetic, TDEM data as well as geochemical data. Surface loam sampling surveys conducted adjacent to these new licenses resulted in the recovery of kimberlite indicator minerals. Of the kimberlitic garnets recovered a relatively high proportion were G10's and sodium-rich eclogitic garnets, with compositions matching inclusions in diamonds. This suggests there is a strong potential for the kimberlite(s) associated with these garnets to be diamondiferous. According to James M. Bruchs, President and CEO of the Company, "We are very excited with the data being generated from these license areas. The convergence of positive geochemical, geophysics and topographic data, together with mapping of the ancient river system, suggest the possibility of a major kimberlite field on the property. These new licenses together with the continuing work in the Company's Nxau Nxau kimberlite field and the newly discovered kimberlites outside the main field all point to a very active exploration effort in the months to come". Images of the Company's most recent kimberlite discovery can be found on the Company's website at:
The recently granted metal licenses complete the Company's strategy of acquiring licenses in Botswana over an area where the Matchless Amphibolite Belt ("MAB") was traced into northwest Botswana; see previous discussion in the Company's press release of April 20, 2009. A comprehensive report describing the northwest trending extension of the MAB that links the Damaran Belt to the Lufilian Arc / Zambian Copper Belt can be found on the Company's website at: http://www.tsodiloresources.com/i/pdf/2009-03-23_THDMPAB.pdf
"This very exciting" commented James M. Bruchs, "We have now connected the dots via license blocks for those two metalliferous features which hold tremendous mineral deposits, and we are optimistic that the same mineralization extends into Botswana. The Company's license position covers the entirety of the feature and should provide ideal targets for copper and cobalt mineralization. Drilling has commenced in the most southern metals license blocks and the drill program will continue north along the belt for some 200 kilometers. We expect to drill 7,500 meters over 30 targets in the coming months."
Tsodilo Resources Limited is an international diamond and metals exploration company engaged in the search for economic kimberlites and metal deposits at its Newdico (Pty) Limited ("Newdico') and Gcwihaba Resources (Pty) Limited ("Gcwihaba") projects in northwest Botswana. The Company has an 95% stake in Newdico (9,400 square kilometers under diamond license) while Trans Hex Group, a South African diamond mining and marketing company, holds the remaining 5%. The southern and northern Gcwihaba project area (6,856 square kilometers under diamond license and 13,400 square kilometers under base and precious metals licenses) is 100% held by the Company. Tsodilo manages the exploration of both the Newdico and Gcwihaba license areas. Overall field project supervision of the Company's exploration program is the responsibility of McDonald Kahari, Pr. Sci. Nat., B.Sc. (Physics and Geology), M.Sc. (Exploration Geophysics), a qualified professional registered with the South African Council for Natural Scientific Professions and a Qualified Person under NI 43-101 and he has reviewed and approved the contents of this release. The Company has offices in Toronto, Canada and Gaborone and Maun, Botswana. Please visit the Company's website, www.TsodiloResources.com
, for additional information and background on our projects.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release. This news release may contain assumptions, estimates, and other forward-looking statements regarding future events. Such forward-looking statements involve inherent risks and uncertainties and are subject to factors, many of which are beyond the Company's control, which may cause actual results or performance to differ materially from those currently anticipated in such statements.
FOR FURTHER INFORMATION PLEASE CONTACT:
James M. Bruchs - President and Chief Executive Officer
E-Mail - JBruchs@TsodiloResources.com
Head Office - Telephone +1 416 572 2033 Facsimile + 1 416 987 4369