=======================================================================
Re: News Release - Saturday, August 01, 2009
Tsodilo Resources Limited Awarded Key
Diamond Exploration
Licenses And Metals Exploration Licenses In Botswana
=======================================================================
TORONTO, ONTARIO - Tsodilo Resources Limited ("Tsodilo" or the
"Company") (TSX Venture Exchange: TSD) is pleased to report that the
Minister, Ministry of Minerals, Energy and Water Resources has now
granted three (3) Precious Stone --
Diamond Prospecting License ("PL")
No. 0641 / 2009, No. 0642 / 2009 and No. 0643 / 2009 and four Metals
(Base, Precious, Platinum Group Metals and Rare Earth Elements)
Prospecting Licenses PL No. 588 / 2009, No. 595 / 2009, No. 596 / 2009
and No. 597 / 2009, to the Company's local, wholly-owned operating
subsidiary Gcwihaba Resources (Pty) Ltd. "Gcwihaba"). These license
areas are situated in the Ngamiland District in Northwest Botswana.
The details of the Company's license blocks can be viewed on the
Company's website at:
http://www.tsodiloresources.com/i/maps/new/newdico_precious_stones_6_j
uly2009B1_3.jpg
http://www.tsodiloresources.com/i/maps/new/gcwihaba_diamonds_as_at_29J
uly_2009_1.jpg
http://www.tsodiloresources.com/i/maps/new/gcwihaba_basemetals_7_july2
009_metals.jpg
The
Diamond licenses are situated on an extension of the Archean Congo
Craton, which hosts numerous economic kimberlite and alluvial
Diamonddeposits and are adjacent to licenses in Namibia controlled by Namdeb
Diamond Corporation (Pty), a company owned jointly by DeBeers and the
government of Namibia. Initial target selection in this area was based
upon screening of remote sensing, aeromagnetic, TDEM data as well as
geochemical data. Surface loam sampling surveys conducted adjacent to
these new licenses resulted in the recovery of kimberlite indicator
minerals. Of the kimberlitic garnets recovered a relatively high
proportion were G10's and sodium-rich eclogitic garnets, with
compositions matching inclusions in diamonds. This suggests there is a
strong potential for the kimberlite(s) associated with these garnets to
be diamondiferous. According to James M. Bruchs, President and CEO of
the Company, "We are very excited with the data being generated from
these license areas. The convergence of positive geochemical,
geophysics and topographic data, together with mapping of the ancient
river system, suggest the possibility of a major kimberlite field on
the property. These new licenses together with the continuing work in
the Company's Nxau Nxau kimberlite field and the newly discovered
kimberlites outside the main field all point to a very active
exploration effort in the months to come". Images of the Company's most
recent kimberlite discovery can be found on the Company's website at:
http://www.tsodiloresources.com/s/21181A.asp?numCols=3&page=2.
The recently granted metal licenses complete the Company's strategy of
acquiring licenses in Botswana over an area where the Matchless
Amphibolite Belt ("MAB") was traced into northwest Botswana; see
previous discussion in the Company's press release of April 20, 2009.
A comprehensive report describing the northwest trending extension of
the MAB that links the Damaran Belt to the Lufilian Arc / Zambian
Copper Belt can be found on the Company's website at:
http://www.tsodiloresources.com/i/pdf/2009-03-23_THDMPAB.pdf.
"This very exciting" commented James M. Bruchs, "We have now connected
the dots via license blocks for those two metalliferous features which
hold tremendous mineral deposits, and we are optimistic that the same
mineralization extends into Botswana. The Company's license position
covers the entirety of the feature and should provide ideal targets for
copper and cobalt mineralization. Drilling has commenced in the most
southern metals license blocks and the drill program will continue
north along the belt for some 200 kilometers. We expect to drill 7,500
meters over 30 targets in the coming months."
Tsodilo Resources Limited is an international
Diamond and metals
exploration company engaged in the search for economic kimberlites and
metal deposits at its Newdico (Pty) Limited ("Newdico') and Gcwihaba
Resources (Pty) Limited ("Gcwihaba") projects in northwest Botswana.
The Company has an 95% stake in Newdico (9,400 square kilometers under
Diamond license) while Trans Hex Group, a South African
Diamond mining
and marketing company, holds the remaining 5%. The southern and
northern Gcwihaba project area (6,856 square kilometers under
Diamondlicense and 13,400 square kilometers under base and precious metals
licenses) is 100% held by the Company. Tsodilo manages the exploration
of both the Newdico and Gcwihaba license areas. Overall field project
supervision of the Company's exploration program is the responsibility
of McDonald Kahari, Pr. Sci. Nat., B.Sc. (Physics and Geology), M.Sc.
(Exploration Geophysics), a qualified professional registered with the
South African Council for Natural Scientific Professions and a
Qualified Person under NI 43-101 and he has reviewed and approved the
contents of this release. The Company has offices in Toronto, Canada
and Gaborone and Maun, Botswana. Please visit the Company's website,
www.TsodiloResources.com, for additional information and background on
our projects.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news release. This
news 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 may cause actual results or performance to differ materially from
those currently anticipated in such statements.
FOR FURTHER INFORMATION PLEASE CONTACT:
James M. Bruchs - President and Chief Executive Officer
E-Mail - JBruchs@TsodiloResources.com
Head Office - Telephone +1 416 572 2033 Facsimile + 1 416 987 4369
=======================================================================
Copyright (c) 2009 TSODILO RESOURCES LTD. (TSX-TSD) All rights
reserved. For more information visit our website at
http://www.tsodiloresources.com/ or send
mailto:info@tsodiloresources.com
=======================================================================
.
<