Tsodilo Releases First Diamond Parcel Valuation

Tsodilo Resources Limited (TSXV:TSD) has released the initial results of an independent diamond valuation of US$197.68  per carat from two parcels consisting of 224 diamonds totalling 34.35 carats of commercial size, recovered from the BK16 kimberlite in Botswana.

Tsodilo Resources is an international diamond and metals exploration company currently developing projects in Botswana and South Africa.

As quoted from the press release:

The valuation and breakage study were conducted by Mr. RD. Ferraris of QTS Kristal Dinamika. Mr. Ferraris is an independent licensed diamond dealer with over 39 years of experience in valuation, marketing and tender preparation, and is an expert in rough diamond valuation and breakage characteristics and a “qualified person” as such term is defined in National Instrument 43-101.

The two parcels represents an initial valuation “snap shot” of the ongoing evaluation program for the BK16 kimberlite large diameter drilling (LDD) samples. The processing of the samples from the LDD holes reported herein are not complete at this stage and the results presented should not be viewed as final. It is probable that more diamonds are likely to be recovered from the auditing process of the LDD holes and from the re-crush of the plus 3mm material and that of the tailings.

The average diamond value of this parcel (224 diamonds of plus 1mm with a cumulative weight of 34.35 carats) was shown to be US$197.68 per carat (where this represents a standard mean, where no outliers were excluded). Note, however, that this is a relatively small sample and should be viewed as indicative at this stage. This valuation is dated applicable from the July 3, 2018 and utilizes the current QTS proprietary price-book (Q2-2018).

“Although the first parcel was small we are encouraged by the evaluation work which gave such a high value to the diamonds. We knew from the historic diamonds that the diamonds in BK16 were high quality gem stones and it is exciting to see this continuing in our LDD sample recoveries,” said Dr. Michiel de Wit, Tsodilo’s president and COO.

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