Tsodilo Resources Limited announces progress on its projects in Botswana

Tsodilo Resources Limited, based in Toronto, has recently provided updates on the progress of its legal proceedings and mining projects in Botswana. According to a judgment dated December 15, 2023, from the High Court of the Republic of Botswana, no objections were filed by February 15, 2024, regarding prospecting licences PL020-024/2018. These developments pave the way for Tsodilo to proceed with its activities without legal hindrance.

The licences in question were retrieved from the Department of Mines on February 19, 2023, although some inconsistencies were noted, requiring adjustments. President and CEO James M. Bruchs expressed relief and highlighted the growing investor interest following the court decision. Tsodilo aims to contribute to the "green" steel industry by adhering to ResponsibleSteel™ standards and exploiting the Xaudum Iron Formation (XIF), a high environmental and economic value mining project located in northwest Botswana.

The XIF formation, with an inferred resource estimated at 441 million tonnes at an average grade of 29.4% Fe, presents significant potential with an exploration target of 5 to 7 billion tonnes. The company is preparing for further exploration and detailed resource valuation, particularly in Block 2a, to confirm and increase the resource estimate.