Tsodilo Resources Limited
TSX VENTURE : TSD

Tsodilo Resources Limited

August 09, 2005 00:17 ET

Tsodilo Resources Limited Announces Exploration Program Update; Base and Precious Metal Prospects

TORONTO, ONTARIO--(CCNMatthews - Aug. 9, 2005) - Tsodilo Resources Limited ("Tsodilo") (TSX VENTURE:TSD) is pleased to announce that its Botswana subsidiary, Gcwihaba Resources (Pty) Limited ("Gcwihaba") has made application to the Botswana Department of Geological Survey for four (4) base and precious metal prospecting licenses covering approximately 4,000 square kilometers in total.

The basis for submitting these license applications was the examination of soil sampling results, satellite imagery, airborne magnetic data and ground magnetic and gravity surveys.

1. The "Southern Satellite Feature" Nickel anomaly - has a core zone measuring some 4 kilometers x 2 kilometers where Nickel values of over 100ppm (parts per million) were obtained. This core zone is surrounded by a more elongated E-W trending halo of lower, but still anomalous values. The Company has applied for a base and precious metal prospecting license around this anomaly to cover some 1,000 square kilometers.

2. The "2021A7" Nickel anomaly has broad 40 to 80ppm values that are broadly coincident with a roughly circular airborne magnetic high which has been named the "2021 A7" anomaly. Base metal sampling traverses over the magnetic anomaly are presently being conducted. The anomaly lies south of the Gumare fault - a very prominent fracture zone that extends NE-SW over a distance of some 160 kilometers. Geophysical gravity and magnetic images of 2021A7 can be viewed on the Company's website in the section titled: Imagery - Geophysics - 2021A7. The Company has applied for a 1,000 square kilometers base and precious metal license over this feature.

3. The third Nickel anomaly is known as the "Gabba Junction" anomaly. A core zone of values in excess of 100ppm Nickel is part of a much broader Cu (Copper), Pb (Lead), Zn (Zinc) and Nickel anomalous area extending along the Gumare fault zone over a distance of some 60 kilometers. The Company has applied for two adjoining licenses to cover a 2,000 square kilometers area over the Gabba Junction anomaly.

President and CEO James Bruchs comments: "Our primary emphasis remains diamond exploration. We know that we have excellent kimberlite property and it looks like we have promising ground for base and precious metals also".

Tsodilo Resources is an international diamond exploration company engaged in the search for economic kimberlites at its Newdico and Gcwihaba projects in northwest Botswana. The Republic of Botswana is the largest producer of diamonds, by value, in the world. Tsodilo has an 81% stake in Newdico (16,800 sq. km under license) while Trans Hex Group, a South African diamond mining and marketing company, holds the remaining 19%. The southern Gcwihaba project area (6,703 sq. km under license) is 100% held by Tsodilo subsidiary Gcwihaba Resources (Pty) Limited. Tsodilo manages the exploration of both license areas. The design and conduct of the Company's exploration program is the responsibility of Peter Walker, a qualified professional geologist registered with the South African Council for Natural Scientific Professions. Please visit the website, www.TsodiloResources.com, for additional information and background on our projects.

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.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • Tsodilo Resources Limited
    James M. Bruchs
    President and Chief Executive Officer
    +1 416 572 2033
    + 1 416 572 4164 (FAX)
    JBruchs@TsodiloResources.com