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Tsodilo Resources Update: Legal Action Against Botswana Ministry of Minerals & Energy
TORONTO, ON / ACCESSWIRE / March 13, 2023 / Tsodilo Resources Limited ("Tsodilo" or the "Company") (TSXV:TSD) (OTCQB:TSDRF) (FSE:TZO) wishes to provide a corpor
About this update from Tsodilo Resources Limited
[{"type":"text","content":" TORONTO, ON / ACCESSWIRE / March 13, 2023 / Tsodilo Resources Limited (\"Tsodilo\" or the \"Company\") (TSXV:TSD) (OTCQB:TSDRF) (FSE:TZO) wishes to provide a corporate update with respect to its legal action Botswana Ministry of Minerals & Energy (MME). The litigation landing page has been update adding the Respondent's Answering Affidavit filed on February 24, 2023, as well as the Company's Replying Affidavit and Notice to Produce Documents filed on March 10, 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 Litigation for litigation documents and Tsodilo Resources Ltd. - MME for related documents. XAUDUM IRON FORMATION (XIF) About the XIF Project The 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 and moderated to volumes from drilling data within Block 1 and its potential quantity and grade is conceptual in nature. To date, there has been insufficient exploration to define a mineral resource other than in Block 1 and it is uncertain if further exploration will result in the target being delineated as a min...