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TORONTO, ON / ACCESSVIRE / December 1, 2022 / Tsodilo Resources Limited (“Tsodilo” or the “Company”) (TSKSV:TSD)(OTCKB:TSDRF)(FSE:TZO) wishes to provide a corporate update regarding its legal action against the Botswana Ministry of Minerals and Energy (MME).
Since the filing of the lawsuit against MME on October 31, 2022 (see, Tsodilo Resources Ltd. – News Releases), there has been a large demand for submissions and related documentation related to this matter. In order to be fully transparent and meet the volume of requests, the Company has established a landing page(s) that is regularly updated to include all litigation related records. See Botswana Litigation for litigation documents and Tsodilo Resources Ltd. – MME for related documents.
XAUDUM IRON FORMATION (XIF)
About the KSIF project
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The project is located in the North West District of Botswana and is close to the Namibian border and is located twenty two (22) miles from the town of Divundu in Namibia. The Walvis Bay-Ndola-Lubumbashi Development Corridor (formerly known as Trans-Caprivi) linking Zambia and Namibia is planned to pass through Divunda, providing access to Walvis Bay, Namibia’s deep sea port. The project is also within forty-three (43) miles of the proposed Mucusso line to the port of Namibe, Angola.
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Preliminary work on the Xaudum Iron Project defined a CIM Mineral Resource estimate of 441 million tonnes (Mt) averaging 29.4% Fe, 41.0% SiO2, 6.1% Al2O3 and 0.3% P for magnetite of KSIF block 1.
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Block 1 is part of the potential KSIF magnetite resource. The extrapolated exploration target defined the KSIF to be in the order of 5 to 7 billion tonnes with 15 – 40% Fe. This exploration target was generated by inversion modeling of ground magnetic geophysical data that was compared and moderated with volumes of data from wells in Block 1, and its potential quantity and extent are conceptual in nature. To date, there has not been sufficient exploration to define a mineral resource other than in Block 1 and it is uncertain whether further exploration will result in the target being designated as a mineral resource. You see Press release dated September 14, 2014 on the company’s website for more details.
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Metallurgical magnetic separation results (Davis Tube Recovery) show that an average concentrate of 67.2% Fe, 4.2% SiO2, 0.5% Al2O3, 0.07% P is obtained at a P80 grind size of 80 microns, although higher levels possible with the finer P80. You see Press release from 17.12.2013 on the Company’s website.
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Further exploration will be focused on Block 2a where the Company expects to increase the resource.
A project briefing with more information can be found on the company’s website at https://vvv.tsodiloresources.com/i/pdf/Tsodilo-Iron-Project-Overview_Mai-2021_Website.pdf.
More technical information can be found in a report prepared by SRK Consulting (UK) Ltd. for Gcvihaba Resources (Pti) Ltd. entitled “Mineral Resource Estimate for Xaudum Iron Project (Block 1), Republic of Botswana” dated August 29, 2014 and filed on SEDAR under the Company’s profile at www.sedar.com.
About Tsodilo Resources Limited
Tsodilo Resources Limited is an international diamond and metals exploration company engaged in prospecting for economic diamonds, metals and industrial stone deposits through its companies Bosoto (Pti) Limited (“Bosoto”), Gcvihaba Resources (Pti) Limited (“Gcvihaba”) and Nevdico (Pti) Ltd. (“Nevdico)” projects in Botswana. The company has a 100% stake in Bosoto (Pti) Ltd. which holds the BK16 kimberlite project in the Orapa Kimberlite Field (OKF) in Botswana and the PL216/2017 diamond prospecting license also in the OKF. The company has a 100% interest in its Gcwihaba project area which consists of five metal exploration licenses (base, precious, platinum group and rare earth) located in the North West District of Botswana. The company has a 100% interest in its Nevdico industrial stone project located in the Central District of Botswana. Tsodilo manages the exploration of the Nevdico, Gcvihaba and Bosoto projects. Overall supervision of the company’s research program is the responsibility of McDonald Kahari (Ex. Sci. Nat.) “qualified person” as such term is defined in National Instrument 43-101.
FOR ADDITIONAL INFORMATION CONTACT:
James M. Bruchs
President and Chief Executive Officer
JBruchs@TsodiloResources.com
Phone +1 416 800 2124
Facsimile + 1 416 987 4369
Website: www.TsodiloResources.com
This press release may contain forward-looking statements. All statements, other than statements of historical fact, relating to activities, events or developments that the Company believes, expects or anticipates will occur or may occur in the future (including, without limitation, statements relating to the use of revenues, the impact of strategic partnerships and statements describing the Company’s future plans, goals or objectives) are forward-looking statements. These forward-looking statements reflect the Company’s current expectations or beliefs based on information currently available to the Company. Forward-looking statements are subject to a number of risks and uncertainties that could cause the Company’s actual results to differ materially from those discussed in the forward-looking statements, and even if such actual results are achieved or substantially achieved, there may be no guarantees that they will have the expected consequences or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, among others, changes in capital markets, changes in general economic conditions, market volatility, political developments in Botswana and surrounding countries, changes in regulations affecting the Company’s activities, uncertainties related to the availability and cost of financing required in the future, risks of exploration and development, uncertainties in the interpretation of exploration results and other risks involved in mineral exploration activities. Any forward-looking statement speaks only as of the date it is made and, except as required by applicable securities laws, the Company disclaims any intention 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 forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, undue reliance should not be placed on such statements due to the inherent uncertainty therein.
Forward-looking statements are subject to a number of risks and uncertainties that could cause the Company’s actual results to differ materially from those discussed in the forward-looking statements and, even if such actual results are achieved or substantially achieved, there may be there is no guarantee that it will have the expected consequences or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, among others, uncertainties related to the availability and cost of funds, the timing and content of work programs, the results of exploration activities, the interpretation of drilling results and other geological data, risks relating to variations in diamond and kimberlite lithology; variations in recovery and breakage rates; diamond quality and grade estimates, variations in diamond estimates and future diamond prices; the state of the world diamond market, the reliability of ownership rights to mineral assets, regulatory changes affecting the Company’s activities, delays in obtaining or failure to obtain necessary approvals for projects, operational and infrastructure risk and other risks involved in diamond exploration and development. Any forward-looking statement speaks only as of the date it is made and, except as required by applicable securities laws, the Company disclaims any intention or obligation to update any forward-looking statement, whether as a result of new information, future events or results or in some other way. Although the Company believes that the assumptions inherent in forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, undue reliance should not be placed on such statements due to their uncertainty.
Neither TSKS Venture Exchange (“TSKSV”) nor its regulation service provider (as that term is defined in TSKSV’s policies) accepts responsibility for the adequacy or accuracy of this announcement. This 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 could cause actual results or performance to differ materially from those currently anticipated in such statements.
SOURCE: Tsodilo Resources Limited
See the original version on accesswire.com:
https://www.accessvire.com/729671/Tsodilo-Resources-Limited-Update-Legal-Action-Against-Botswana-Ministri-of-Minerals-Energi
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