Tsodilo Resources (TSD.V) has released an update on its Xaudum iron ore project in Botswana, where it has outlined a ‘conservative exploration target’ of 5 to 7 billion tonnes of iron ore with an average grade of between 15% and 40% Fe. This might not sound very impressive as the project doesn’t qualify as a Direct Shipping Ore project, but the first round of metallurgical test work shows that the end-product might be very valuable, as a concentrate containing 68%Fe usually catches a very nice premium on the world market.
As the Xaudum project has a strike length of almost 37 kilometers, we think the project might turn out to be one of the most exciting iron ore exploration projects for this year.
> Click here to read the press release
Disclosure: The author currently holds no position in Tsodilo Resources. Tsodilo Resources is not a sponsor of the website, but we were compensated by a third party to start coverage. Please see our disclaimer for current positions.
