December 15, 2014
Conceptual Geological Model for BK16
TORONTO, CANADA - Tsodilo Resources Limited (TSX-V: TSD) ("Tsodilo" or the "Company") is pleased to announce that it has completed a conceptual geological model for BK16 located within the Orapa Kimberlite Field ("OKF") in Botswana. Botswana diamond mines have produced an average of 27 million carats annually in the last 10 years and Botswana is the world's largest producer of diamonds by value. In 2013, the OKF area produced 12,926,500 carats.
Bosoto (Pty) Ltd., which is 75% owned by Tsodilo, has completed the review of all the available historical drill data for BK16. It has incorporated this data with its own ground magnetic and gravity survey results that the Company acquired in October (see press release November 4, 2014) in order to complete a conceptual geological model.
The historical drill data used for this project comprises 27 boreholes to a cumulative depth of 3,553.25 meters. This is a combination of 12-inch reverse circulation drilling (5 holes, 641 meters), 6.5-inch percussion holes (19 holes, 2,290 meters), and HQ diamond drilling (3 holes, 622.25 meters).
Along with the main kimberlite pipe the geophysical model supports the presence of a smaller satellite pipe to the south-east of the main pipe where kimberlite has been intersected by two of the historical exploration drill holes. The main pipe and this second pipe have been interpreted to be linked by a north-west trending dyke based on the geophysics. This second intrusion has not penetrated the Karoo basalts and if therefor interpreted as a blind pipe.
The conceptual geological model will be used as a platform to design Bosoto's forthcoming diamond drill program. Bosoto plans to drill 12 diamond holes to a cumulative depth of 4,200 meters using its own drill rigs starting mid-January 2015. This will enable the Company to establish a more robust geological model that will then be used to site the Large Diameter Drill (LDD) holes for evaluation purposes later in 2015.
About Tsodilo Resources Limited: Tsodilo Resources Limited is an international diamond and metals exploration company engaged in the search for economic diamond and metal deposits at its Newdico (Pty) Limited ("Newdico") and Gcwihaba Resources (Pty) Limited ("Gcwihaba") projects in northwest Botswana. The Company has a 98% stake in Newdico (851 km2 under Precious Stone - diamond licenses). The Gcwihaba project area: 494 km2 under Precious Stone - diamond licenses; 11,158 km2 Metal (base, precious, platinum group, and rare earth) licenses; and, 6,925 km2 under Radioactive Minerals licenses is 100% held by the Company. The Company has a 75% stake in Bosoto (Pty) Ltd. Tsodilo manages the exploration of the Newdico, Gcwihaba and Bosoto 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.
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
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