Pangolin Diamonds Corp.

TSX VENTURE : PAN


Pangolin Diamonds Corp.

April 09, 2014 16:43 ET

Pangolin Discovers Micro-Diamond at its Mmadinare Project, Botswana

TORONTO, ONTARIO--(Marketwired - April 9, 2014) - Pangolin Diamonds Corp. (the "Company" or "Pangolin") (TSX VENTURE:PAN) today reported on soil sample results from its 100%-owned Mmadinare diamond project in north-east Botswana.

Highlights:

  • Pangolin discovers one micro-diamond and 44 ilmenite grains within "Block 1" of the Project Area;

  • 137 soil samples collected by Pangolin field teams follow earlier sampling from within the Project Area (Prospecting Licence 041/2011);

  • Samples were processed by Pangolin through its Dense Media Separation ("DMS") plant, and the diamond concentrates recovered were then observed by an independent diamond and indicator mineral specialist.

The Block 1 area is approximately 13 km2 in size within which samples were collected on a 500 meters by 250 meters grid spacing. Individual samples are collected from the top two centimeters of the soil within a 50 meter radius of a GPS control point. In the field, soils were screened using a +2 millimeter screen mesh to remove most of the organic debris until approximately 5 kilograms were obtained. In the Mmadinare area, where cover is minimal, the -2 millimeter fraction is strongly influenced by the underlying geology. The samples were then transported from the field to the DMS facility in Francistown, Botswana for processing.

The recovered diamond, sample B105, has a maximum dimension of <0.5 millimeters and is therefore defined as a micro-diamond.

The 44 ilmenite grains will be sent for Microprobe Analysis to characterize their provenance as either crustal or kimberlite in origin. The micro-diamond was recovered from a sample that also contained one ilmenite grain. The Microprobe Analysis is expected to further refine the pattern observed. The results will be reported when received in the coming months.

The distribution of the ilmenites demonstrates a need for additional sampling to "close off" the anomalous area. This work will begin in several weeks following completion of the ground surveys currently underway at the Tsabong North and Jwaneng South projects.

The technical disclosure in this news release has been reviewed and approved by Dr. Leon Daniels, Ph.D., Member of AIG, Chairman of the Board of Pangolin Diamonds, a Qualified Person as defined by National Instrument 43-101.

About the Mmadinare Diamond Project

The Mmadinare Project, located in northeast Botswana, is 1,345.6 square kilometers in size. It contains similar geological environmental indicators to known mines such as Venetia, the Oaks, Martinsdrift and River Ranch.

As reported in the September 18, 2013 news release, Pangolin previously discovered 5 Manganese-rich ilmenites within a volcanic intrusion (the "SWS-21") in the Project Area. Manganese-rich diamond-inclusion type ilmenites are known to be associated with diamondiferous kimberlites and diamonds.

The enzyme-leach trace element chemistry from the SWS-21, identified by independent lab analysis, is identical to diamondiferous kimberlites in the Jwaneng area, Botswana. Also as reported, multiple diamond-inclusion type manganoan ilmenites were recovered from soil samples collected in a different part of the Project Area.

About Pangolin Diamonds Corp.

Pangolin Diamonds Corp. is building a leading diamond exploration and development company in the heart of Botswana, the world's leading diamond producing country by value. The Company is the 100% owner of four separate projects throughout Botswana inclusive of the Tsabong North, Jwaneng South, Malatswae and Mmadinare Projects. Pangolin's management and team leaders have over 100 years of combined diamond exploration. This places the Company as one of the most experienced diamond explorers in Botswana. The Company is equipped for exploration, with two diamond drill rigs and a fully portable one-tonne per hour Dense Media Separation plant used to prepare samples and make diamond concentrates.

For more information, please refer to www.pangolindiamondscorp.com.

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Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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