- Tsodilo Resources Limited ("Tsodilo" or the "Company") (TSX Venture Exchange: TSD) is pleased to announce that Dr. Mike de Wit will be presenting an update on the Company's exploration projects in northwest Botswana at the BOTSWANA RESOURCE SECTOR CONFERENCE
conducted by Capital Resources on June 26th
in Gaborone, Botswana.
The Company's presentation, "The Geology and Mineralization of Ngamiland"
will discuss the Company's progress on its exploration portfolio and particularly the exciting developments on the Iron Ore and Copper projects. A review of the Company's Diamond and Uranium projects will also be presented. The presentation will be available for viewing on the Company's website shortly after the completion of the conference.
- Drilling indicates that the Zambian and DRC Copper Belt basins extend southward into NE Botswana
- Copper Belt-style mineralization at multiple stratigraphic levels
- Rapitan-type Fe Formation at base of Grand Conglomerate
- The first Davis Tube Recovery Results from this Formation produced Fe with recoverable grades of between 69.5 and 72% with only 0.9-3.5 % SiO2, 0.05-0.2 Al2O3, 0.002-0.04% S and less than 0.05% P.
- The DTR tests recorded between 71% and 79% recovery by magnetic separation with most of the iron reporting in the magnetic fraction (high magnetite and low hematite).
- The 75 micron grind results are almost the same as the 45 micron grind, so grinding can be restricted to the coarser fraction during beneficiation.
- Demonstrated Cu-Fe-Au skarns associated with ~535 Ma intrusions.
- Kimberlites with micro-diamonds have been defined
- Anomalous Uranium (U) values in meta-sediments proximal to historical U targets in recent calcretes
In its press release of April 19, 2012, the Company stated that the Phase 1 exploration drill program had identified three different targets all within Katangan-age sedimentary rocks similar to those of the Central African Copperbelt of the Democratic Republic of Congo and Zambia: the Xaudum Rapitan-type BIF magnetite project in the north; the Copperbelt style sedimentary rock hosted stratiform mineralisation; and the skarn deposits associated with late-stage intrusions in the southern part of the Company's licence area.
The Company is currently focused on a detailed drilling program on the Xaudum Magnetite BIF Ironstone prospect. Recent isotope dating of Late Proterozoic diamictites interbedded within the magnetite units has provided ages (734Ma) that are equivalent to the 'Grand Conglomerate' of the Zambian Copper Belt. These rocks have been identified as being part of a Rapitan type iron-formation both in terms of age and lithology, Rapitan-type iron-formations are Neoproterozoic (0.8-0.6 Ga) iron-formations that are characterized by their distinct association with glaciomarine sediments. They are thought to have been deposited in the immediate aftermath of a so-called 'Snowball Earth' state. Examples include the Rapitan Group in northwest Canada (18.6 billion tonnes of 47% Fe); Matto Grosso, Brazil-Bolivia (36 billion tonnes of 50% Fe); the Yudnamutara Subgroup (Australia); the Chuos Formation (Namibia); and the Jacadigo Group (Brazil).
About Tsodilo Resources Limited:
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 a 97% stake in Newdico (3,949 km2
under Precious Stone - diamond licenses). The Gcwihaba project area: 3,728 km2
under Precious Stone - diamond licenses; 14,914 km2
Metal (base, precious, platinum group, and rare earth) licenses; and, 6,925 km2
under Radioactive Minerals licenses is 100% held by the Company. Tsodilo manages the exploration of both the Newdico and Gcwihaba license areas. Overall supervision of the Company's exploration program is the responsibility of Dr. Mike de Wit, President and COO of the Company and a "qualified person" as such term is defined in National Instrument 43-101. Dr. de Wit has reviewed the information contained herein and approved the contents of this Press 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.
National Instrument 43-101 - Standards of Disclosure for Mineral Projects, Form 43-101F1 and Companion Policy 43-101CP requires that the following disclosure be made: All references contained herein with respect to the potential quantity and grade derived by any method is at this stage of development conceptual in nature. At the present time, there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource.
This press release contains forward-looking statements. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements relating to the development of the Company's projects) are forward-looking statements. These forward-looking statements reflect the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things, changes in equity markets, political developments in Botswana and surrounding countries, changes to regulations affecting the Company's activities, uncertainties relating to the availability and costs of financing needed in the future, the uncertainties involved in interpreting exploration results and the other risks involved in the mineral exploration business. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
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
Chairman and Chief Executive Officer
Dr. Mike de Wit
President and Chief Operating Officer
Telephone +1 416 572 2033
Facsimile + 1 416 987 4369