Pangolin Diamonds Corp.
TSX VENTURE : PAN

Pangolin Diamonds Corp.

April 16, 2014 07:00 ET

Pangolin Discovers Second Area With a Micro-Diamond at Its Mmadinare Project, Botswana

TORONTO, ONTARIO--(Marketwired - April 16, 2014) - Pangolin Diamonds Corp. (the "Company" or "Pangolin") (TSX VENTURE:PAN) today reported on a second diamond positive area of soil sample results from its 100%-owned Mmadinare Diamond Project (the "Project") in north-east Botswana.

Highlights:

  • Pangolin discovers one additional micro-diamond and 281 ilmenite grains from 33 soil samples collected by Pangolin field teams within "Block 2" of the Project, which follows earlier sampling;

  • Block 2 is targeting kimberlites approximately 60 kilometers east of the Block 1 area where Pangolin reported in an April 9. 2014 news release the discovery of a first micro-diamond in a soil sample;

  • 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 2 area targeting kimberlites is approximately 2 km2 in size and is associated with a weak magnetic low airborne feature. The samples were collected on a 200 meters by 200 meters grid spacing. Individual samples are collected from the top two centimeters of the soil within a 25 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 20 kilograms were obtained. In the Mmadinare area 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 MC30-63, has a maximum dimension of under 0.5 millimeters and is therefore defined as a micro-diamond.

The 281 ilmenite grains, an exceptional number of grains from so few samples, will be sent for Microprobe Analysis to characterize their provenance as either crustal, kimberlitic or lower mantle in origin. The micro-diamond was recovered from a sample that also contained eight (8) ilmenite grains. The Microprobe Analysis is expected to further refine the pattern observed. The results will be reported when received in the coming months.

The high concentration of ilmenites is considered to be very significant and demonstrates a need for additional sampling and pitting of the anomalous area. This work will begin shortly.

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 (manganoan) 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 experience. 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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