Saturday, September 26, 2026
MiningNewsTerminal
Saturday, September 26, 2026 Admin

TSD.V ·

Announces Geotechnical LAB Results FOR the Preliminary Economic Assessment of Its Xaudum Iron Project IN Botswana

Economic Studies

TSODILO RESOURCES LIMITED

ANNOUNCES GEOTECHNICAL LAB RESULTS FOR THE

PRELIMINARY ECONOMIC ASSESSMENT OF ITS XAUDUM IRON

PROJECT IN BOTSWANA

FOR IMMEDIATE RELEASE September 20, 2021

TORONTO, ONTARIO - Tsodilo Resources Limited ("Tsodilo" or the "Company") (TSX-

V: TSD) (OTCQB: TSDRF) (FSE: TZO) is pleased to announce positive geotechnical lab test

results for its wholly owned Xaudum Iron Project. These are the first set of geotechnical lab

tests conducted on the Xaudum Iron Formation (XIF) and indicate that the XIF materials are

competent and have good to moderate strength properties and will result in a positive set of

geotechnical parameters to be used in the ongoing Preliminary Economic Assessment (“PEA”)

of the XIF project.

Rock strength data is important in generating slope designs for safe mining and this set of lab

test data will contribute to further geotechnical studies into rock mass rating for pit stability

and pit wall design during the engineering stage of the PEA. The aim of conducting lab tests

on these XIF samples is to measure the ranges at which the XIF will fail under tension,

compression and shear on their discontinuities. To test the above-mentioned strength

properties, the selected samples from XIF Geodomains were subjected to the following tests:

Unconfined Compressive Strength, Brazilian Tensile Strength, and Direct Shear Strength.

These tests were conducted at the Botswana International University of Science and

Technology (BIUST) by the Mining and Geological Engineering department and the results

can be found in Table 1 (http://www.tsodiloresources.com/i/pdf/2021-09-17-Table-1.pdf).

Tsodilo's Chairman and CEO, James M. Bruchs, commented “The results were what we

expected, they show that the XIF materials are all within standard mechanical rock property

ranges and that there will be no geotechnical issues arising from the XIF materials and confirm

that the XIF will show “normal” pit wall angles as assumed in the Company’s previous resource

reporting.”

31 geotechnical tests were processed by BIUST, see Table 1. A summary of the completed

geotechnical test works is set forth below:

18 Unconfined Compressive Strength (UCS) tests gave the following results:

 Fresh Banded Magnetite formation (MBA) has a Very Strong Rock Strength

Classification with a UCS average value of 132.7 MPa. Cataclastic mode of failure is

the most prevalent in these MBA samples where the samples break irregularly at high

stress without following any plane of weakness;

o Cataclastic is common in hard and brittle rocks, this mode of failure suggests

that MBA banding is not necessarily a plane of weakness;

 Weathered Banded Magnetite (MBW) has a Strong Rock Strength Classification with

a UCS average value of 81.3 MPa ;

o MBW tends to break along foliation suggesting that there are micro-fractures

developed along foliation caused by weathering;

 Diamictite Schist Formation (DIA) has a Strong Rock Strength Classification with a

UCS average value of 57.2 MPa. DIA is predominantly the main country rock in the

XIF and will make up the bulk of the pit wall materials during mining of the XIF;

o This Geodomain exhibits single shear as the dominant mode of failure which

can be attributed to foliation and schistocity of this rock type that creates a plane

of weakness;

 Diamictite Schist Weathered formation (DIAW) has a Medium Strong Rock Strength

Classification with a UCS average value of 31.6 MPa;

o DIAW breaks easier along the schistocity foliation suggesting the weathering

exacerbates the schistocity weakness planes of the rock mass;

 Calcrete Overburden (CAC) has a Strong Rock Strength Classification with a UCS

average value of 80.4 MPa;

o Axial splitting is the dominant mode of fracture for this rock type.

 Table 1: Part A shows the UCS test results

8 Brazilian Tensile Strength (BTS) tests gave the following results:

 MBA gave a Strong to Very Strong tensile strength with an average of 9.65 MPa;

 DIA gave a Medium Strong to Strong tensile strength with an average of 8.82 MPa;

 Table 1: Part B shows the BTS test results

 The BTS values for DIA and MBA were plotted against UCS results and compared

with other rock strength values in the literature showing the strong nature of these

materials, see Figure 1.

4 Direct Shear Strength (DSS) tests on open discontinuities (joints) on DIA Geodomain

gave the following results:

 These joints gave effective friction angles ranges from 19.29o (Poor) to 36.87o (Good)

and the effective cohesion of the joint surface ranged from 27.02 kPa to 273.81 kPa;

o The cohesion values are considered to be moderate low to moderate when

compared to other geological scenarios in the literature, see Figure 2;

 The friction angle ranges show that the material along the joint surface has variable

amounts of “weak” phyllosilicate materials (dominated by biotite) due to the schistic

nature of the DIA; and

o Group A (Figure 2) showing appreciable phyllosilicate (biotite) material and

thus lower effective friction angles, compared to Group B (Figure 2);

 These results of these DSS tests are well within normal results for materials like the

DIA.

 Table 1: Part C shows the DSS test results

Geotechnical Lab Test Conclusions

The UCS and the BTS strength tests indicate that the XIF major Geodomains are competent

and strong in both dimensions of compression and tension. The UCS mode of failure indicates

that DIA, DIAW and MBW tend to show a preferred mode of failure related to the foliation.

This is not as common for MBA and CAC. The joint discontinuities tested for DSS lean

towards poor and fair characterizations.

These are the first set of geotechnical lab tests conducted on the XIF and show that the XIF

materials are competent and will result in a good set of geotechnical parameters to be used in

the ongoing PEA. These geotechnical lab tests show that the XIF materials are all within

standard mechanical rock property ranges and that there will be no geotechnical issues arising

from the XIF materials confirming that the XIF will show “normal” pit wall angles as assumed

and presented in the Company’s XIF resources report (see Press Release of 9/14/2014 on the

Company’s website for further details).

References

 Chakraborty, S., Bisai, R., Palaniappan, S. K., & Pal, S. K. (2019). Failure Modes of

Rocks under Uniaxial Compression Tests: An Experimental Approach. Journal of

Advances in Geotechnical Engineering Volume 2 Issue 3, 1-8.

 Perras, M. A., & Diederichs, M. S. (2014). A Review of the Tensile Strength of Rock:

Concepts and Testing. Springer.

 Read, J., & Stacey, P. (2010). Guidelines for Open Put Slope Design . Collingwood:

CSIRO Publishing.

 Wyllie, D. C., & Norrish, N. I. (2006). Rock Strength Properties and their

Measurements. 372-390. Chapter 14 from Landslides: Investigations and Mitigations

by Turner, K. A. and Schuster, R. L. (ISBN: 030906208X)

About Botswana International University of Science and Technology

The Botswana International University of Science and Technology is a Government of

Botswana supported institution established as a research-intensive University that specializes

in Engineering, Science and Technology at both undergraduate and graduate (Master’s and

Doctoral) levels. It aims to increase competitiveness, economic growth and sustainable

development; address the shortage of skilled scientists and technologists; increase movement

of skilled people across national boundaries; stimulate research, innovation, and technology

transfer; improve society’s aspirations to improve health, wealth and well-being; address

increased demand for access to tertiary education; and enable a more competitive and

innovative tertiary education sector.

The University is a national strategic initiative that is intended to serve as one of the key

platforms for transforming Botswana’s economy. Because of its research emphasis, BIUST

works with the private sector to meet emerging skills needs of the industry, as well as identifies

challenges that can be solved through applied research. (www.biust.ac.bw).

About the XIF Project

◊ The project is located in the North-West District of Botswana and is proximate to the

Namibian boarder 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 Company has joined the Walvis Bay Corridor Group (WBCG). Currently

the portion of the corridor between Grootfontein (Namibia) to Katima Mulilo

located on the Zambia border is the portion of the corridor closest to the

Xaudum Iron Project. In March 2021, the Namibian Ministry of Works and

Transport commissioned a Feasibility Study for the Trans-Zambezi Railway

Extension Grootfontein -- Rundu - Katima Mulilo. The proposed rail extension

between Grootfontein and Katima Mulilo is significant to Tsodilo as the

extension is planned to pass through Divundu. The feasibility study is expected

to be completed by the end of 2021 and its results will be considered in our

Preliminary Economic Assessment (PEA).

 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 mineral resource. See Press Release of 9/14/2014 on the Company’s

website for further details.

◊ Metallurgical magnetic separation results (Davis Tube Recovery) show an average

concentrate of 67.2% Fe, 4.2% SiO2, 0.5% Al2O3, 0.07% P is obtained at P80 grind

size of 80 microns, although higher grades are possible at finer P80’s. See Press

Release of 12/17/2013 on the Company’s website.

◊ Further exploration will be focused on Block 2a where the Company expects an

increase in the resource.

An informational presentation of the project outlining more information can be found on the

Company’s website at http://www.tsodiloresources.com/i/pdf/Tsodilo-Iron-Project-

Overview_May-2021_Website.pdf.

More technical information a report prepared by SRK Consulting (UK) Ltd. for Gcwihaba

Resources (Pty) Ltd. titled “Mineral Resource Estimate for the Xaudum Iron Project (Block 1),

Republic of Botswana” with an effective date of August 29, 2014 and filed on SEDAR under

the Company’s profile at www.sedar.com.

About Tsodilo Resources Limited

Tsodilo Resources Limited is an international diamond and metals exploration company

engaged in the search for economic diamond, metal deposits and industrial stone at its Bosoto

(Pty) Limited ("Bosoto"), Gcwihaba Resources (Pty) Limited ("Gcwihaba") and Newdico (Pty)

Ltd. ("Newdico) projects in Botswana and its Idada 361 (Pty) Limited ("Idada") project in

Barberton, South Africa. The Company has a 100% stake in Bosoto (Pty) Ltd. which holds the

BK16 kimberlite project in the Orapa Kimberlite Field (OKF) in Botswana and the PL216/2017

diamond prospection license also in the OKF. The Company has a 100% stake in its Gcwihaba

project area consisting of seven metal (base, precious, platinum group, and rare earth)

prospecting licenses all located in the North-West district of Botswana. The Company has a

100% interest in its Newdico industrial stone project located in Botswana’s Central District.

Additionally, Tsodilo has a 70% stake in Idada Trading 361 (Pty) Limited which holds the gold

and silver exploration license in the Barberton area of South Africa. Tsodilo manages the

exploration of the Newdico, Gcwihaba, Bosoto and Idada projects. Overall supervision of the

Company's exploration program is the responsibility of Dr. Alistair Jeffcoate, Project Manager

and Chief Geologist of the Company and a "qualified person" as such term is defined in

National Instrument 43-101.

This press release may contain forward-looking statements. All statements, other than

statements of historical fact, that address activities, events or developments that the Company

believes, expects or anticipates will or may occur in the future (including, without limitation,

statements pertaining to the use of proceeds, the impact of strategic partnerships and

statements that describe the Company's future plans, objectives or goals) are forward-looking

statements. These forward-looking statements reflect the current expectations or beliefs of the

Company based on information currently available to the Company. Forward-looking

statements are subject to a number of risks and uncertainties that may cause the actual results

of the Company to differ materially from those discussed in the forward- looking statements,

and even if such actual results are realized or substantially realized, there can be no assurance

that they will have the expected consequences to, or effects on the Company. Factors that could

cause actual results or events to differ materially from current expectations include, among

other things, changes in equity markets, changes in general economic conditions, market

volatility, political developments in Botswana and surrounding countries, changes to

regulations affecting the Company's activities, uncertainties relating to the availability and

costs of financing needed in the future, exploration and development risks, the uncertainties

involved in interpreting exploration results and the other risks involved in the mineral

exploration business. Any forward-looking statement speaks only as of the date on which it is

made and, except as may be required by applicable securities laws, the Company disclaims

any intent or obligation to update any forward-looking statement, whether as a result of new

information, future events or results or otherwise. Although the Company believes that the

assumptions inherent in the forward-looking statements are reasonable, forward-looking

statements are not a guarantee of future performance and accordingly undue reliance should

not be put on such statements due to the inherent uncertainty therein.

Forward-looking statements are subject to a number of risks and uncertainties that may cause

the actual results of the Company to differ materially from those discussed in the forward-

looking statements and, even if such actual results are realized or substantially realized, there

can be no assurance that they will have the expected consequences to, or effects on, the

Company. Factors that could cause actual results or events to differ materially from current

expectations include, among other things, uncertainties relating to availability and cost of

funds, timing and content of work programs, results of exploration activities, interpretation of

drilling results and other geological data, risks relating to variations in the diamond grade

and kimberlite lithologies; variations in rates of recovery and breakage; estimates of grade

and quality of diamonds, variations in diamond valuations and future diamond prices; the state

of world diamond markets, reliability of mineral property titles, changes to regulations

affecting the Company's activities, delays in obtaining or failure to obtain required project

approvals, operational and infrastructure risk and other risks involved in the diamond

exploration and development business. Any forward-looking statement speaks only as of the

date on which it is made and, except as may be required by applicable securities laws, the

Company disclaims any intent or obligation to update any forward-looking statement, whether

as a result of new information, future events or results or otherwise. Although the Company

believes that the assumptions inherent in the forward-looking statements are reasonable,

forward-looking statements are not a guarantee of future performance and accordingly undue

reliance should not be put on such statements due to their inherent uncertainty.

Neither the TSX Venture Exchange ("TSXV") nor its Regulation Services Provider (as that term

is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of

this news release. 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.

FOR FURTHER INFORMATION PLEASE CONTACT:

James M. Bruchs Chairman and Chief Executive Officer [email protected]

Dr. Alistair Jeffcoate Project Manager and Chief Geologist [email protected]

Head Office Telephone +1 416 572 2033 Facsimile + 1 416 987 4369

Website http://www.TsodiloResources.com