TORONTO, ONTARIO September 20, 2017 – Pangolin Diamonds Corp. (TSX-V: PAN) (the “Company” or “Pangolin”) is pleased to provide an exploration update for the 007 area of its 100% owned Malatswae Diamond Project in Botswana, Africa. The 007 project is one of six zones of interest within the Malatswae project where previous soil sampling recovered a diamond (see news release, March 16, 2017).
The latest soil sampling programme undertaken over the past six months has recovered an additional two diamonds, bringing the total of recovered diamonds to three with the largest being in excess of 2mm in all axis directions. Several kimberlitic garnets were also recovered from the soil samples that collectively cover an area of roughly 200 x 200 meters. Following on these results, detailed groundmagnetic surveys in the 007 area were expanded with two targets identified and drill-tested in June/July 2017.
Borehole MX07/BH5 was drilled with an air percussion drill at an angle of 60 degrees from horizontal in a westerly direction on the first groundmagnetic anomaly. Drill sample splits were collected over six-meter intervals over the length of the hole (130m total length) and processed through a 1-tph mini-DMS plant for indicator minerals. A weathered rock fragment measuring 7mm in maximum dimension and comprised of garnet and coarse brown micas was recovered from the 32-38m interval. As the country rock is Karoo basalt, the rock fragment is interpreted as a post-Karoo intrusion into the basalts. The rock is not typical of kimberlite and is more likely to be a lamprophyre or lamproite based on its mineralogy. The sample will be submitted for analysis of the garnet and micas to determine its provenance.
Vertical borehole MX07/BH6 tested the second groundmagnetic anomaly, located approximately 140 metres to the east of borehole MX07/BH5. A rock sample from the 44-50m interval containing a possible altered megacryst was submitted for microscopic and geochemical assessment. Major and trace element analysis include a higher Cr content (~450ppm) and lower SiO2 (48wt%) MgO contents (~4wt%) relative to the Karoo basalt country rocks. The overall geochemistry suggests that the rock sample is possibly an altered lamproite tuff with a variable sand/shale component.
Additional material from both boreholes will be processed to obtain additional material for mineral and chemical analysis. The two drill-tested anomalies will also be covered by high density groundmagnetic and VLF surveys to better resolve the targets. Additional drilling of the groundmagnetic anomalies will be undertaken during the next drilling programme.
Images of the rock fragments and drill hole summary logs can be found on the Company’s website.
The Company also announces that its board of directors have approved the granting of 1,650,000 options, to various officers, directors and employees, under its Stock Option Plan, each share under option having a 5 year term and an exercise price of $0.10.
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Quality assurance procedures, security, transport, storage, and processing protocols conform to chain of custody requirements.
Visual assessment of the rock fragments was conducted at MCC Geoscience Inc. (North Vancouver, Canada). The sample from MX07/BX6 was submitted to ALS Minerals (North Vancouver, Canada) for major element whole rock XRF and four-acid digestion trace element analysis using protocols ME-ICP06 and ME-MS81 respectively. The technical contents of this news release have been reviewed and approved by Dr. Tom E. McCandless P.Geo., technical advisor to Pangolin and a Qualified Person as defined by National Instrument 43-101.
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Pangolin Diamonds Corp. – Contact Information
Scott Young, Investor Relations
Graham C. Warren, Chief Financial Officer
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