TORONTO, ONTARIO - Tsodilo Resources Limited ( "Tsodilo" or the "Company") (TSX -Venture Exchange: (TSD)) is pleased to provide an update on its wholly owned BK16 kimberlite project. BK16 The BK16 kimberlite project is located within the Orapa Kimberlite Field ( "OKF") in Botswana. The diamond
TSODILO RESOURCES LIMITED
BK16 UPDATE
FOR IMMEDIATE RELEASE May 15, 2017
TORONTO, ONTARIO - Tsodilo Resources Limited ( "Tsodilo" or the "Company") (TSX -Venture Exchange:
(TSD)) is pleased to provide an update on its wholly owned BK16 kimberlite project.
BK16
The BK16 kimberlite project is located within the Orapa Kimberlite Field ( "OKF") in Botswana. The diamond
mines in Botswana have produced an average of 27 million carats annually in the last 10 years and Botswana is the
world’s largest producer of diamonds by value. In 2016, the OKF area produced 8.85 million carats . Of the 83
known kimberlite bodies in the OKF , nine have been or are currently being mined. These ar e AK1 (Orapa,
Debswana), AK6 (Karowe, Lucara Diamond Corporation), BK1, BK9, BK12 and BK15 ( Damtshaa, Debswana),
DK1 and DK2 (Letlhakane, Debswana) and BK11 (Firestone Diamonds). The Karowe mine has produced such
notable diamonds as the 1,109 carat `Lesedi La Rona` and the 813 carat `Constellation`. The diamondiferous BK16
kimberlite pipe is approximately 6 hectares in size at surface, and is known to contain rare and valuable Type IIa
diamonds (see, Tsodilo press release dated May 31, 2016).
Pilot Hole Drill Program
The Pilot Hole Drill Program commenced in February 2017. The pilot hole pattern was designed to achieve an
approximate 50 meter grid hole spacing for the Phase 1 Large Diameter Drilling (“ LDD”) sampling. One pilot hole
is drilled immediately next to every planned LDD hole. The primary objectives of the pilot holes are to improve on
and upgrade the knowledge of the internal geology of the kimberlite and optimize the kimberlite intersect ed by the
Large Diameter Drill (LDD) program . Geotechnical studies of the cores will allow for the selection of the
appropriate LDD drill bits based on rock hardness and the pilot hole cores will also provide a reference once the
diamond recovery results have been obtained from the LDD program. Fourteen (14) holes totaling approximately
3,100 meters are planned with eleven ( 11) being completed to date. The remaining 3 holes are expected to be
completed by month’s end.
The pilot hole drilling as well as the earlier delineation drilling was conducted utilizing the Company’s Atlas Copco
CT14 diamond core drill rigs. All bits used were of a Wuxi-Tsodilo design and contained only synthetic industrial
diamond.
All pilot and delineation core holes were logged in the field in detail according to a standard operating procedure,
describing each kimberlitic unit, measuring contacts between various units as well as kimberlite/country rock
contacts and brie f descriptions of country rock. Magnetic susceptibility measurements were taken every 20
centimeters and t he country rock dilution content w as logged using the line point count method along the entire
kimberlite intersection.
Core recovery and depth data were recorded as per standard operating procedure. Core recovered from the pilot hole
drilling is stored at the Company’s Letlhakane exploration camp. The core has been labelled, photographed and the
information captured in the Company’s database.
Density (specific gravity) measurements were done on the delineation core samples by taking a 20 to 30 centimeter
length of core every 2 meters. The core was then coated in a thin film of varnish and the density was established
using the Archimedes method of weighing in air and in water. Additional samples for density measurements will be
taken from the pilot hole cores where the delineation drilling had not sufficient coverage.
LDD Program
The layout of the initial 14 LDD holes was designed to provide grade estimates for the main kimberlite phases as
well as an initial grade distribution throughout the kimberlite. The relatively large bulk sample will also provide an
initial diamond value. Z Star Mineral Resource Consultants (Cape Town, South Africa) w ere consulted to optimize
these objectives. The diameter of the LDD holes will be 24 -inch and the planned 14 holes (approximately 3, 100
meters) will provide just under 2,000 tonnes of kimberlite for processing. The design calls for sampling to a 350
meter depth within the main two volcaniclastic kimberlite phases (VK2 and VK3) as well a sampling minor amounts
of the central VKxxx zone which is a restricted upper zone that highly diluted with basalt xenoliths.
The LDD samples are to be collected over 12 m eter intervals, corresponding to hypothetical mining benches. The
samples will be collected in cubic meter polypropylene bulk bags, with varying numbers of bags making up one
sample. The bags w ill be attached to the drill site shaker and receive a feed of +1.00 m illimeter material directly
from the shaker. The Phase 1 LDD holes w ill be logged by caliper a nd caliper data w ill be used to estimate the
volume drilled for grade calculations. Representative chip samples w ill be taken during LDD program every meter ,
these samples will then be screened on site and used to control the quality of the drill product.
The Company has entered into a drill contract with De Wet Drilling (Pty) Limited of Gaborone, Botswana to drill
the LDD holes. De Wet Drilling (Pty) Limited Botswana (“DWD”) has been in operation since 1948 focusing on the
drilling of deep, large diameter boreholes. This specialization is made possible through custom designed and buil t
drill rigs that are able to withstand the extreme conditions the mining sector faces in Southern Africa. DWD has
extensive LDD experience working on projects for Debswana, De Beers, Petra Diamonds and Firestone Diamonds
amongst others. DWD conducted the Phase 1 & 2 LDD on AK6, (Karowe mine, Lucara Diamond Corporation).
About Tsodilo Resources Limited: Tsodilo Resources Limited is an international diamond and metals exploration
company engaged in the search for economic diamond and metal deposits at it s Bosoto (Pty) Limited ("Bosoto") and
Gcwihaba Resources (Pty) Limited ("Gcwihaba") 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 in Botswana. The Company has a 100% stake in its Gcwihaba
project area consisting of twenty-one (21) metal (base, precious, platinum group, and rare earth) prospecting licenses
located in the North -West district of Botswana. 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 Gcwihaba, Bosoto and Idada proj ects. Overall supervision of the Company's exploration
program is the responsibility of Dr. Mike de Wit, President and COO of the Company and a "qualified person" as
such term is defined in National Instrument 43-101.
The Company has offices in Toronto, C anada and Gaborone and Maun, Botswana. Please visit the Company's
website, www.TsodiloResources.com, for additional information and background on our projects.
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 rea lized 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 th ings, changes in equity
markets, changes in general economic conditions, 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 Com pany believes that the assumptions inherent in
the forward -looking statements are reasonable, forward -looking statements are not guarantees of future
performance and accordingly undue reliance should not be put on such statements due to the inherent uncert ainty
therein.
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 assu mptions, 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 r esults 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. Mike de Wit President and Chief Operating Officer [email protected]
Head Office Telephone +1 416 572 2033 Facsimile + 1 416 987 4369
Website http://www.TsodiloResources.com