TORONTO, CANADA - Tsodilo Resources Limited (TSX-V: TSD) ("Tsodilo" or the "Company") is pleased to announce that its' Botswana subsidiary Bosoto (Pty) Ltd ("Bosoto") has taken possession of diamonds which were previously recovered from kimberlite BK16.
Tsodilo took possession of 2 diamond parcels totaling 108 diamonds collectively weighing 21.91carats on May 20, 2015. Parcel 1 consisted of 25 diamonds weighing 4.93 carats with 4 stones weighing more than 0.5 carats each, accounting for 2.96 carats or 59% of this parcel's weight. Parcel 2 consisted of 83 stones weighing 16.98 carats including 3 stones weighing 1.69, 1.12 and 0.98 carats each. Both parcels were recovered by then license holder Auridiam Botswana (Pty) Limited ("Auridiam") in 1999 and 2000. The stones had been held in a safe deposit box at First National Bank's main office in Gaborone, Botswana since their time of recovery and were transferred by Tsodilo to I. Hennig & Company's office in Gaborone for counting and weighing.
Parcel 1 stones were recovered from five (5) 12.25 inch diameter holes via reverse circulation drilling while Parcel 2 was obtained at a depth of 30 meters into the kimberlite body via a mining shaft into what is referred to as the highly diluted basalt breccia which is found covering part of the pipe. Diamond liberation as per the plant flowsheet consisted of a single stage crushing (impact crusher) unit followed by a scrubbing station and then to an eight foot diameter rotary-pan processing plant. The concentrate from the pan was then fed onto a three deck grease table on site.
"We are fast tracking the evaluation of the BK16 kimberlite having just finish the diamond core drilling program of 3,600 meters only a few months after being granted the license. We are currently completing the geological model in order to plan for the large diameter drilling (LDD) program scheduled for later in the year. We have also acquired a mobile dense media separation ('DMS') treatment facility in Letlhakane which we will be upgrading over the next few months. Our plan is to obtain an initial sample of some 2,500 to 3,000 tonnes to ascertain grades of the different kimberlite phases and to acquire more stones for valuation purposes. To view these previously recovered stones is very exciting and while one cannot attach too much significance to the results of these limited samples, it is important to take notice of the presence of relatively large stones in the BK16 samples", commented Dr. Michiel de Wit, Tsodilo's President and COO.
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. 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.
