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7/25/2019 Botswana Resource Conference 26June2012 Ws
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1
Geology and MINERALIZATION of
Ngamiland - Tsodilo Resources Ltd
Mike de Wit
President
Botswana Resource Sector Conference
Gaborone26thJune 2012
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National Instrument 43-101 - Standards of Disclosure for Mineral Projects, Form 43-101F1 and Companion Policy
43-101CP requires that the following disclosure be made: All references contained herein with respect to the
potential quantity and grade derived by any method is at this stage of development conceptual in nature. At the
present time, there has been insufficient exploration to define a mineral resource and it is uncertain if further
exploration will result in the target being delineated as a mineral resource.
This presentation contains 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 relating to the development of the Company's
projects) 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 aresubject 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, 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, 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 guarantees of future performance and
accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
Important notice
2
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1995: Trans Hex International founded (subsidiary of Trans Hex Group)
2002: re-named Tsodilo Resources Limited
Canadian Registered
TSX listed 1995: TSX V listed 2001
26,230,970 shares issued and outstanding
32,028,672 fully diluted common shares Principal Shareholders (Beneficially Owned, Controlled or Directed):
Market Capitalization $26M CAD
Azur LLC 4,996,065 (19.04%)
International Finance Corporation (World Bank) 2,702,702 (10.30%)
David Cushing 2,460,501 (9.38%)
James Bruchs 2,232,119 (8.51%)
Company Details
3
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Tsodilo ResourcesLtd
Tsodilo ResourcesBermuda Ltd
100% Owned
Bosoto (Pty) Ltd
100% Owned
GcwihabaResources (Pty) Ltd
100% Owned
Newdico (Pty) Ltd
97% owned
Rights to: Precious Stones
(Diamonds)
Rights to: Precious Stones,
Base and Precious
Metals
Radioactiveminerals
TSX-V Listed
Botswana
Operating
Companies
Corporate structure
4
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James M. Bruchs, JD * Director, Chairman & CEO
David J. Cushing, JD Director
Dr. Mike de Wit, PhD (Geology) * Director, President & COO
Dr. Murray W. Hitzman, PhD (Geology) Director
Jonathan R. Kelafant, BSc, MSc (Geology) Director
Patrick C. McGinley, JD Director
Experienced Board and Officers
5
*Executive Directors
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6
0
5
10
15
20
25
22
96
1
2
1
2
Ex-pat
Motswana
87% (38)
13% (5)
Botswana work force
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Tsodilo - Resources Targets
The Company license blocks contain a number of economically
attractive exploration targets:
IronDemonstrated Magnetite Fe Formation at base of Grand Conglomerate
Copper (cobalt) Potential for Copperbelt-style deposits at multiplestratigraphic levels, spatially associated with faults/trusts
Copper-Gold-IronDemonstrated Cu-Fe-Au skarns associated with ~535 Maintrusions (IOCG?).
DiamondsKimberlites with micro-diamonds have been defined
UraniumAnomalous U values in meta-sediments and recent calcretes
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8
Angola
Zambia
Au
Cu
FeTsodilo
Namibia
Botswana
Company Permits in Regional Context
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9
Damara Belt
Copper Belt
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1. Total MagneticIntensity on 250 m
line spacing
2. Detailed VTEMdata over large
block
Area interest
10
Initial data sets for Explorat
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11
Enhancing AM:
In house Walk-Mags 25 - 50m line spacing
2011 2010
6252 line kms 7400 line kms
541 km 265 km
Supplemented by Detailed Ground Geophysics..
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Tsodilo 6x6 diamond rigs:
2x Atlas Copco rigs 6x6
2x Water bowser 6x6
2x Fuel Bowser 6x6 2x Rod carier 6x6
12
Holes drilled:
128 holes
20.8 km of core
(excluding kimberlite)
.and drilling (Vertical & inclinded)
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Maun Base In storage:
28.9 kilometers of
core
13
2011:
14 600 samples
consigned for assaying
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14
2012 Licences
TsodilosMetal Permits: 14 900km
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Neoproterozoic Copperbelt Basins of Southern Africa
Drilling indicates that the Central African Copperbelt basins extend
southward into NE Botswana
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Geological model - targets for Fe & Cu
Company PLs cover large areas of
previously unknown NeoproterozoicKatangan sedimentary rocks:
similar to the DRC/Zambian Copper Belt
These rocks contain several target types:
IronRapitan-type Fe Formation at base ofGrand Conglomerate
Copper (cobalt) Copperbelt-stylemineralistion at multiple stratigraphic levels
Fe
Cu
Cu
Cu
Cu
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Stratigraphy & Main Deposits in the Copper Belt Basins
Drilling indicates that Tsodiloslicenses contains similar stratigraphy
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1. Basement Rocks
Mainly Granitic-Gneiss and Quartz Schist- dated - 2.6 Ba
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2. Lower Roan Sandstones & Conglomerates
Lower Roan exposed in the Tsodilo Hills to the west - not yet intersected.
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3. Upper Roan Carbonates & Evaporites
Breccia of dolomite and phlogopite with carbonate clasts typical ofthe breccias observed in DRC/Zambia after evaporites (anhydrite-halite).
Banded limestones with evaporite nodules replaced by carbonateminerals
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Originally shales and siltstones; Commonly garnetiferous (upper Mwashya),graphitic, and contain sulfides (py, po, cpy)
4. Mwashya Phyllites & Schists
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5. Grand Conglomerate
Regional marker in Neoproterozoic Basins
Related to global glaciation? Snowball earth
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6. Kakontwe Limestone
Relatively massive, clean limestone bed - cap carbonate unit
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Iron Formations
Rapitan-
type Fe
Tonnesofiron
formation
Lake Superior-
type Fe
Most Fe formations formed between
2500 - 1900 Ma - Lake Superior-type
Another period of Fe formation was
around 750 Ma - Rapitan-type
Examples:
Rapitan deposit, Canada: 18.6 billion
tonnes of 47% Fe
Matto Grosso, Brazil: 36 billion tonnes
of 50% Fe
Damara-Katangan, southern Africa:
Small deposits - prior to Xaudum
Associated with glacial sediments
(Snowball Earth) deposited instructurally controlled basins
Contains more manganese than the
older iron deposits
R it I
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Rapitan-type Fe Formation at base of Grand
Conglomerate.
Fe
Rapitan Iron(Xaudum Fe-magnetite)
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26
5km
From AM, High
Resolution Ground
Magnetics & Drilling
to Geological Model
X d F M tit F ti
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Xaudum Fe- Magnetite Formation
Iron Formation occurswithin the base of theGrand Conglomerate
It extends forapproximately 35 km NS.
Appears to be locatedalong a major fault zonewith exposures of
basement
Iron
Formation
35 km
TSODILO RESOURCES LIMITED
I t b dd d B d d M tit & di i tit
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TSODILO RESOURCES LIMITEDInterbedded Banded Magnetite & diamictites
28
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L9600/11 L9600/12 L9600/10 L9600/13
36%
29
Intersection Fe% Al2O3% SiO2% P%
44m 35-52.2 0.12-3.01 9.5-18.6 0.17-0.43
Intersection Fe% Al2O3% SiO2% P%
140m 30-52 0.1-3.6 9-11 0.07-0.5
l
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30500m
400m
100m
0
300m
200m
Schist/Diamictite
with Magnetitebands
Magnetite with
occasional schist
bands
Hole 1821B112V
Massive
MagnetiteChalcopyrite
D i T b R T
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31
Sample Size fraction Fe Grade (%) SiO2 Al2O3 P LOI
9600/10 (149.5-150.5) 75m 69.5 3.47 0.19 0.028 -3.25
9600/10 (149.5-150.5) 45m 70.9 1.92 0.18 0.020 -3.32
9600/11 A (98.499) 75m 69.6 3.27 0.20 0.045 -3.26
9600/11 A (98.499) 45m 70.6 1.89 0.20 0.027 -3.24
9600/11 B (103.3103.7) 75m 70.0 2.69 0.08 0.043 -3.29
9600/11 B (103.3103.7) 45m 71.8 0.92 0.05 0.023 -3.35
Most of the iron is recovered in the mag fraction (so low hematite).
The 75 micron grind results are almost same as 45 micron grind
The DTR grade of Fe is generally 70% plus
Davis Tube Recovery Tests
N t t
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Geological Modelling
using Gocad
32
Assaying & Davis
Tube Recovery Tests
Continued detaileddrilling First stage resource model
Detailed ground
geophysics
Trenches in Shakawe
quarry
Next steps Thick, high grade magnetite ironformation in east
Great target for high-grade, thick
magnetite iron formation
Preparatory Survey for Southern Africa
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33
Preparatory Survey for Southern Africa
Integrated Regional Transport Program
200 km
Xaudum Fe projectTsumeb
Grootfontein
Walvis Bay
Copper Copper Belt-style mineralisation at several
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Copper
(sedimentary rock-hosted)
Cu
Cu
Cu
Cu
Copper Belt style mineralisation at severalstratigraphic levels; associated with faults.
The stratigraphy and structure of the Tsodiloground is highly permissive for significant
deposits
Copperhas been found in several drill holes
Hydrothermal alteration, similar to that
observed in Zambia and DRC
Soil geochemistry is ineffective (which hasfound all major copper deposits in the CopperBelt) and no outcrop.
Geophysics not always effective to find CopperBelt orebodies
Drilling & geophysics and good geological
understandingthe most effective exploration
Mwashya meta-sediments
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35
Ironstone
Sedimentary Cu
Mwashya meta sediments
EM Section
Mwashya Shale Belt on East West EM line
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Mwashya Shale Belt on East-West EM line
36
Dipping Condutors
Mineralised graphitic black shales & metapelites.
Sulphides
Stratigraphic Targets for Copper Deposits
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Stratigraphic Targets for Copper Deposits
Cu
Cu
Cu
Cu
Drilling indicates:
Several lithologies with high contained carbonaceous material (carbon); thepresence of evaporites
Sulfides within the stratigraphy capable of acting as a reductant
?
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cpy
po
py
Pyrite (py) replacing pyrrhotite (po).
Chalcopyrite (cpy) is also in the
association. Plane-polarized reflected light.
Sample A (9670/9, 229 m).
Cu
38
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Autebi
Replacement of calcite (Cc) by pyrrhotite
(Po). Note the occurrence of gold (Au),hessite (hs), bismuth tellurides (tebi) and
altaite (alt). L9670/9, 316,61 m depth.
Cc
Po
he
alt
Au
Ag
Visible Gold traces
39
Sepupa Skarns
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40
Sepupa Skarns
Ironstone
Skarns
Sedimentary Cu
Sepupa Skarn Deposits
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Airborne magnetics
1822C10
Sepupa Skarn Deposits
Ironstone
1822C27
1822C2610 km
Sepupa Skarns
Meta-basites
(Gabbro) 53536Ma
Sepupa Skarn targets 1822 C26 & 1822 C27
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Sepupa Skarn targets 1822 C26 & 1822 C27
564 ppm
Ni
4073 ppm
Cu
0.17% Ce
0.12% La
0.09 ppm Au
392 ppm V
1822C271822C26
42
C26 & C27: Gravity/Magnetics with selected assays
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250 0 250
(meters)
WGS84 /UTMzone 34S
1st Vertical Derivative
1822C26&27
-0 .0 0 2 2 -0 .0 0 11 -0 .0 0 08 -0 .0 0 05 -0 .0 0 03 0 . 00 0 1 0. 0 00 5 0 .0 0 08 0 . 0 01 2 0 .0 0 16 0 . 00 2 0
mGals/m
7919200
7919600
7920000
7920400
7920800
7921200
7921600
7922000
791
92
00
791
9600
792
0000
792
04
00
792
0800
79212
00
7921
600
7922
000
622400 622800 623200 623600 624000 624400
622400 622800 623200 623600 624000 624400
-1848'
-1848'
2210'
2210'
Bouger gravity
C27/2
C27/3
C27/4 C27/5
C26
/ T
7919200
7919600
7920000
7920400
792
0800
7921200
7921600
7922000
791
92
00
791
9600
792
0000
792
04
00
792
0
800
79212
00
7921
600
7922
000
622400 622800 623200 623600 624000 624400
-1848'
-1848'
2210'
'
C27/2
C27/3
C27/4
C27/5
C26
Ground Magnetics
Cu 0.4 %
Co 0.016 %Ni 0.056 %
Fe 28 %
Ag 2g/t
Cu 0.03 %
Co 0.002 %
Ni 0.01 %Fe 6 %
Ag 0.6g/t
Cu 0.26 %
Co 0.03 %
Ni 0.04 %
Fe 61 %
Ag 2.3g/t
C26 & C27: Gravity/Magnetics with selected assays
Cu 0.02 %
Co 0.002 %
Ni 0.01 %
Fe 5.6 %
Ag 1.3g/t
C27: Gravity & Magnetic models
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44
Causative source of the gravity anomaly (blue) ~87m below the magnetic anomaly (green)
It is shifted westward relative to the magnetic body
C27: Gravity & Magnetic models
1822C10
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45
1822C10
2000
7942
606000 606500 607000 607500 608000 608500 609000 609500 6100002201' 2202'
C 0 02 % C10: 1st Phase Drilling
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7938000
79385
00
7939000
7939500
7940000
7940500
79
41000
7941500
7942
7938000
79
38500
7939000
7939500
7940000
7940500
79410
00
7941500
2000
606000 606500 607000 607500 608000 608500 609000 609500 610000
-1838'
-1837'
-1838'
-1837'
2201' 2202'
12_4
1822D12_2
1822C10_1
1822D12_3
L9761_5
L9770_1
1822C10_2
1822C24
1822C11
250 0 250
(meters)
WGS 84/ UTM zone34S
-127.7 -95.3 -88.7 -85.7 -83.1 -80.6 -77.9 -74.7 -70.9 -67.3 -62.2 -49.4 -9.3
Total Magnetic Intensity
Cu 0.044 %
Co 0.016 %
Ni 0.056 %
Fe 61 %
Ag 2g/t
Cu 0.11 %
Zn 0.026 %
Ni 0.013 %Cu 0.014 %
Zn 0.014 %Ni 0.02 %
Cu 0.02 %
Cu 0.027 %
Zn 0.01 %
Ni 0.01 %
Ag 1.6 gpt
Cu 0.02 %
Zn 0.003 %
Ni 0.003 %
C10: 1stPhase Drilling
0.5 km
Summary: Metal projects
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47
40 ppm U
0.03 ppm Au
1.6 ppm Ag
Intersections up to 140m
High % Fe; Low Contaminants
Elevated levels of Au, Co, V
2.4% Cu0.02% Ni
0.04% Zn
0.03% V
0.4% Cu
0.06% Ni
0.17% Ce
0.09 ppm Au
61% Fe
MAB
Summary: Metal projects
Magnetite Deposit
Mwashya Seds
Sepupa
skarns
(IOCG)
Diamonds
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MT data: Tsodilo PLs are on the edge of the Congo Craton
Basement ages of 2.6Ba: in several Tsodilosboreholes
Also the best kimberlites should be on thicker craton.
Diamonds: Kimberlite drilling
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g
Nxau Nxau
Kimberlite cluster
IMPROVEDPOTANT
IAL
Targets
49
Nxau Nxau cluster
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50
Kimberlites K10 & K11; Target B7
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K10 (B5):
14 microdiamonds
from 221kg
51
; g
Uranium
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Uranium
Union Carbide
1980 Uranium Licences
Discovered significant radiometric U anomalies on main drainages
Water and drill samples of calcrete produced upto 100 ppm U 52
Uranium: Targets & Drilling results
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53
U ppm/sample
g g
1980: Union Carbide
recovered 100 ppm U
in calcrete samples in
recent drainages Palaeo-drainages:
U targets
U in meta-
sediments
Ngamiland projects
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Base & Precious metals Geology Major
Xaudum Magnetic Fe Deposit BIF Magnetite Fe (Co, Ag)Sepupa Skarns Skarn complex: IOCG? Cu (Ni, Au, Fe)
Mwashya Cu-Shales Sedimentary stratiform copper Cu (Co)
Diamonds Geology MajorK10 & K11 Kimberlite - evaluation Diamonds
NW Ngamiland targets Kimberlite - exploration Diamonds
Uranium Geology Major
Secondary meta-sediments Meta-pelites in shale basin U
Secondary duricrusts Valley calcretes U
Ngamiland projects
54
Tsodilo project
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Tsodilo project
Exploration program over defined exploration targets
Q4 11 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q4 13
Drilling
Assay
HRG Magnetics
Ground Gravity
Xaudum Fe project
Sed. Copper project
Kimberlite project
ITR
1ststage Eval
Exploration
Sepupa Skarn project Exploration
U project Exploration
Summary
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1. Three metal areas identified on TsodilosPLs(14 900km):
Xaudium Magnetite BIF: Fe grades ~70% & anomalous Ag, Co, Mo, U, V. Belt 35 x 5km.
ITR by Q1 2013
Copper Belt-type mineralisation: stratabound Cu(Co) & (Ni) in meta-sediments. Belt
~90km long, 30 and 40km wide.
Sepupa Skarn-type: Demonstrated Cu-Fe-Au skarns associated with ~535 Ma intrusions
(IOCG)
2. Kimberlite exploration (7 300km) continuous with:
Evaluation of K10 & K11
Targets in the most northern licences
3. Uranium (7 000km) will focus on:
Duricrusts within the regional geomorphology