Tsodilo Resources Limited has releases its maiden NI43-101 Technical Report including CIM compliant Inferred Mineral Resource Estimate of 441 million tonnes (Mt) with an average grade of 29.4% Fe for Block 1 of its flagship Xaudum Iron Project, North West Botswana.
*The company said the Inferred Mineral Resource of 441 million tonnes at average grades of 29.4% Fe, 41.0% SiO2, 6.1% Al2O3 and 0.3% P for Block 1 of the Xaudum Iron Formation (XIF).
*Davis Tube Recovery (DTR) magnetic concentrate mass recoveries of 33.2% at P80 grind size of 80 microns.
*Iron ore grade DTR magnetic concentrate at 67.2% Fe, 4.2% SiO2, 0.5% Al2O3, 0.07% P at P80 grind size of 80 microns, although higher grades are possible at finer P80’s see the press release from December 17, 2013 available on the Company’s website at www.TsodiloResources.com.
*Significant potential to increase the Mineral Resource though ongoing exploration. The reported Mineral Resource represents only a fraction of the potential XIF mineralization delimited by the ground magnetics. Tsodilo has previously reported an Exploration Target* for the XIF of 5 to 7 billion tonnes with grades ranging between 15-40% Fe, see the press release from January 22, 2014 available on the Company’s website at www.TsodiloResources.com.
Tsodilo is currently drilling the next exploration area referred to as Block 2a, where the company expects to define a significant Inferred Mineral Resource in due course which will significantly increase the Xaudum Iron Project total Mineral Resource.
James M. Bruchs Chairman and CEO of Tsodilo Resources Ltd said they are delighted to say that we have defined large mineral resource tonnage in the Block 1 area of 441 Mt.
“This is a major step for the project and confirms that the Xaudum Iron Project can be a major iron ore project for Botswana,” he said.
“The project has the potential to supply iron ore and iron products to not only the whole southern African region but to the world. This resource is also only the ‘Tip of the Iceberg’ given the previously reported Exploration Target of between 5 and 7 billion of tonnes.”
The Xaudum Iron Formation (XIF) NI 43-101 Mineral Resource Estimate (MRE) report (entitled; Mineral Resource Estimate for the Xaudum Iron Project (Block 1), Republic of Botswana) was completed by SRK Consulting (UK) Ltd and is the report referred to in this press release. This report has been uploaded to the System for Electronic Document Analysis and Retrieval (SEDAR) website www.sedar.com. SEDAR is the System for the electronic filing system for the disclosure documents of public companies and investment funds across Canada. A copy of this document along with this press release is available on the Company’s web site, www.TsodiloResources.com.