April 08, 2015 Purchases Mobile DMS Treatment Plant
TORONTO, CANADA - Tsodilo Resources Limited (TSX-V: TSD) ("Tsodilo" or the "Company") is pleased to announce that it has completed the purchase of a Dense Medium Separation ("DMS") treatment plant for use at its BK16 kimberlite project 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 2014, the OKF area produced 13,355,292 carats.
Tsodilo is completing the diamond core drilling program of 15 holes to a cumulative depth of 2,621 meters on both the main and satellite bodies of kimberlite BK16 in order to develop an advanced geological model. In anticipation of the bulk sampling program which is scheduled to start during the second half of this year, the Company has purchased a DMS mobile plant from De Beers Botswana. This plant is capable of handling a 10 tons/hour head feed throughput and was used in the evaluation of AK06 (Karowe Diamond Mine) owned by Lucara Diamond Corp. It is set up and located just outside the Lethlakane village approximately 15 km directly WNW from the BK16 kimberlite pipe.
The plant is equipped among others with primary and secondary crushers (Cone and Jaw), de-sliming screens, conveyors, a scrubber with 12 mm trommel screen, a DMS preparation screen and DMS cyclone (250mm/57mm). It is equipped with a laboratory, security office and concentrate storage units. Photos of the plant can be seen on the company's website at: /s/Photo_Gallery.asp.
The Company intends to spend some time refurbishing the plant in order to start treatment of the diamondiferous BK16 kimberlite during Phase 1 of the evaluation program towards the end of this year. Using very conservative estimated grades the Company intends to extract and treat some 3,500 tons in order to recover in excess over 200 carats during Phase 1 of the evaluation program.
"Tsodilo continues to advance its projects in an expedient and cost effective fashion buy utilizing its company owned drill rigs, geophysical equipment and now the DMS processing plant. This allows us to evaluate the potential of our projects in a fast and cost effective fashion which is crucial at any time but especially in today's economic environment. The outlook for diamonds is very positive and we want to move BK16 along as fast as we can." stated Tsodilo's Chairman and CEO, James M. Bruchs.
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"), Gcwihaba Resources (Pty) Limited ("Gcwihaba") projects and Bosoto (Pty) Limited ("Bosoto") in 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, 3,912 km2 under Radioactive Minerals licenses is 100% held by the Company. The Company has a 75% stake in Bosoto (Pty) Ltd. which holds the exploration license for the BK16 kimberlite. Tsodilo manages the exploration of the Newdico, Gcwihaba and Bosoto license areas.
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.
