Tsodilo Resources Limited BK16 Update
TORONTO, CANADA – Tsodilo Resources Limited (TSX Venture Exchange TSD) (“Tsodilo” or the “Company”) is pleased to announce the results of a second independent Size Frequency Distribution (“SFD”) modelled grade and diamond value for the BK16 Large Diameter Drilling (“LDD”) aggregate 77.94 carat parcel of 502 commercial size (+1mm) diamonds initially reported on November 7, 2018.
In early December 2018, Dr Paddy Lawless of PJL and Associates discovered that the size frequency model he utilized resulted in an overly optimistic projection of grade values. These results were presented in the Company’s press release on November 7, 2018. Given the potential significance of this error, the Company immediately retained the services of Mr. Stephen Coward of Interlaced to review and develop new model grade and valuation figures based on the same raw BK16 data. The approach included in-depth SFD modelling and simulation, and provides direct comparisons with comparable projects, the results of which are reported herein. The results of the prior press release are thus superseded with those contained in this press release. Given Mr. Cowards specific experience in the SFD modelling discipline the Company has accepted the results of Mr. Coward as definitive for the grade and value modelling of the BK16 deposit.
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