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TSODILO RESOURCES LIMITED UPDATE: Legal Action Against Botswana Ministry of Minerals & Energy
TORONTO, ON / ACCESSWIRE / April 25, 2023 / Tsodilo Resources Limited ("Tsodilo" or the "Company"...
About this update from Tsodilo Resources Limited
[{"type":"text","content":"TSODILO RESOURCES LIMITED UPDATE: Legal Action Against Botswana Ministry of Minerals & EnergyTORONTO, ON / ACCESSWIRE / April 25, 2023 /Tsodilo Resources Limited (\"Tsodilo\" or the \"Company\") (TSX- V:TSD)(OTCQB:TSDRF)(FSE:TZO) wishes to provide a corporate update with respect to its legal action Botswana Ministry of Minerals & Energy (MME).Oral Argument was held in the High Court in Maun, Botswana on April 18, 2023, with respect to the Ministry of Minerals and Energy's (MME) decision to not renew Prospecting License PL020/2018 held by the Company's Botswana subsidiary, Gcwihaba Resources (Pty) Limited.The litigation landing page has been updated with the parties' documents filed with the court. The judge has indicated that a written judgement is to be expected on August 1, 2023.Since the filing of the complaint against MME on October 31, 2022 (see, Tsodilo Resources Ltd. - News Releases), there has been an overwhelming request for proceeding filings and related documentation pertinent to the matter. To be fully transparent and meet the volume of requests, the Company has established landing page(s) regularly updated to include all records related to the litigation. See, Botswana Litigationfor litigation documents and Tsodilo Resources Ltd. - MMGE for related documents.XAUDUM IRON FORMATION (XIF)About the XIF ProjectThe project is located in the North-West District of Botswana and is proximate to the Namibian border and lies twenty-two (22) miles from the town of Divundu in Namibia. The Walvis Bay-Ndola-Lubumbashi Development Corridor (previously known as the Trans-Caprivi) line linking Zambia and Namibia is planned to pass through Divundu, providing access to Walvis Bay, Namibia's deep-sea port. The project is also located within forty-three (43) miles of the proposed Mucusso line to Angola's Namibe Port.Preliminary work on the Xaudum Iron project has defined a CIM compliant Inferred Mineral Resource Estimate of 441 million tonnes (Mt) with an average grade of 29.4% Fe, 41.0% SiO2, 6.1% Al2O3 and 0.3% P for the Block 1 magnetite XIF.Block 1 is a fraction of the potential XIF magnetite resource. An extrapolated exploration target has defined the XIF to be in the order of 5 to 7 billion tonnes at 15 - 40% Fe. This exploration target was generated by inversion modelling of ground magnetic geophysical data which was compared ...