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Tsodilo Resources Limited Announces Plan

Tsodilo Resources Limited Announces Plan

TORONTO, CANADA – Tsodilo Resources Limited (TSX Venture Exchange: TSD) (“Tsodilo” or the “Company”) is pleased to announce that a renewal application for Prospection License 369/2014 has been filed with the Department of Mines (DOM) at the Ministry of Mineral Resources, Green Technology and Energy Security (MMGE) in Gaborone, Botswana.

The renewal application is for a two-year period and the area contains the Company’s BK16 kimberlite project. The center piece of the renewal application is the Phase II surface bulk sampling program which will be the extraction, processing and diamond recovery of 20,000 metric tonnes of kimberlite.

On January 23, 2019, the Company presented encouraging modelled grade and diamond value reports for the BK16 kimberlite from its Phase I sampling program that consisted of a 2,077 metric tonnes Large Diameter Drilling (LDD) bulk sample (see, http://www.tsodiloresources.com/i/pdf/2019-01-23_NR-ghaui623ka.pdf). Phase I sampling was designed to obtain an initial determination of the quality and value of the BK16 diamonds and those results established the following:

Phase I LDD Bulk Sample:

  • successfully demonstrated the potential of the BK16 kimberlite to host high value diamonds between US$ 281 to US$ 792 per carat;
  • successfully confirmed the presence of Type IIa diamonds where 3.8% of the diamonds were identified as high-quality Type IIa diamonds consisting predominantly of D color stones; and,
  • successfully confirmed the potential of BK16 to host large special stones of +10.8 carats where size frequency distribution analysis indicates that 2% to 5% of the total carats may be greater than 10.8 carats (specials). This size frequency distribution (SFD) compares favorably with Lucara Diamond Corp.’s Karowe Mine (AK6) production of specials at 5.6% and 6.8% in 20171 and 20182 respectively.

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