- Promising samples sent for testing in SA and at BIUST
- Botswana’s coal reserves hold potential synergies for Tsodilo
GAZETTE REPORTER
Canada-based exploration-stage company Tsodilo Resources Limited has started geochemical analysis for grade determination and geotechnical test work for Rock Mass Rating (RMR) evaluation for Preliminary Economic Assessment (PEA) of its Xaudum Iron Formation (XIF) project in the North West District of Botswana (Ngamiland), this publication has established.
According to a statement from the company, 755 samples from 10 drill holes within the XIF Block 2 area have been sent to ALS Chemex in South Africa for analysis. Tsodilo Resources also announced that 34 samples from seven drill holes representing the main XIF geological domains have been sent for geotechnical laboratory test work assessment at the Botswana International University of Science and Technology’s (BIUST) Department of Mining and Geological Engineering.
“Metallurgical results show that the XIF magnetite product is expected to be a premium product containing 67 percent iron, which is preferable over lower grade iron ores,” noted the Chairman and CEO of Tsodilo, James Bruchs, in the statement.
“These high-grade ores and products currently command larger price premiums over standard ores (62 percent iron), resulting in higher margins for suppliers of high-grade products.”
Bruchs explained that the results of the analysis will be important to the technical evaluation and economic understanding of the project and will be included in the PEA. “The iron ore market is entering a new ‘super cycle’ based on improving fundamentals and a healthy market and has recently recorded the highest price on record,” he said.
“This encouraging market outlook coupled, with the gathering pace of the green steel revolution, means that we are confident that the PEA will bring strong added value to the company as we develop this project towards mining.”
Bruchs also stated that Botswana has significant coal reserves which can be a major advantage for the Xaudum iron project, allowing for coal to be used in the beneficiation process to generate iron products such as iron pellets, sponge iron, pig iron and steel.
The project, according to Bruchs, has the potential to positively impact the future economy of Botswana as the country looks to diversify its economy, and help it reach its goal of moving away from a dependence on diamond revenue.
Tsodilo is a Canada-based exploration-stage company. The company is engaged principally in the acquisition, exploration and development of mineral properties in Botswana. It is actively reviewing additional diamond, base and precious metal opportunities within southern Africa and has interests in its Botswana subsidiary, Newdico (Proprietary) Limited , which held one prospecting licence covering approximately 850 square kilometres in northwest part of the country.
Its Gcwihaba Resources (Pty) Ltd subsidiary holds one prospecting licence for precious stones in the Kgalagadi District and over 20 metal prospecting licences in the North West District. It has interest in its Botswana subsidiary, Bosoto (Pty) Limited, which holds the precious stone prospecting licence for the area which contains the BK16 kimberlite.