Tsodilo Resources Limited says First Quantum Minerals (FQM) has commenced a major airborne electro-magnetic survey in northwest Botswana. The survey will cover the metal licenses held by Tsodilo which form the project area of the strategic partnership between TSD and FQM announced on April 18, 2013.
FQM has contracted Spectrem Air Ltd. (Spectrem), a wholly owned subsidiary of Anglo Operations Ltd. Management and Logistics and part of the Anglo American Group (AAG) to conduct the survey. AAG has invested about $20 million and 15 years of development effort into the SPECTRUM2000 fixed wing and ExplorHEM helicopter systems, in order to afford AAG a significant competitive advantage over that possible by utilizing the services of commercial survey companies.
The SPECTRUM2000 system is a highly-successful proprietary airborne electromagnetic technique used to detect metalliferous sulphide bodies at or beneath the earth’s surface. The survey will cover 11,800 line kilometers and take approximately two months to complete.
James M. Bruchs, Tsodilo’s Chairman and CEO said it is most encouraging to observe the fervor which FQM has brought to this strategic partnership. “Their exploration program is aggressive, complete and professionally executed. We look forward to the results of this program which is geared towards the discovery of a large orebody,” he said.
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) and Gcwihaba Resources (Pty) Limited (Gcwihaba) projects in northwest Botswana.
The company has a 98% stake in Newdico (895 km² under Precious Stone – diamond licenses). The Gcwihaba project area: 2,404 km² under Precious Stone – diamond licenses; 11,158 km² Metal (base, precious, platinum group, and rare earth) licenses; and, 6,925 km² under Radioactive Minerals licenses is 100% held by the Company.
Tsodilo manages the exploration of both the Newdico and Gcwihaba 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.