PAN Pangolin Diamonds Corp

Pangolin Diamonds Corp. (TSX VENTURE:PAN) (the "Company" or "Pangolin")
announced that it has discovered one of the largest kimberlites in the world,
modeled at 270 hectares (2.7 km2), at its 100% owned Tsabong North Project (the
"Project") in Botswana. 


A number of the world's largest kimberlites include:



--  Se251 in Angola, measuring 220 hectares (2.2 km2)
--  MK1 in Botswana, measuring 180 hectares (1.8 km2)
--  Mwadui in Tanzania, measuring 146 hectares (1.46 km2)



Kimberlite Discovery

The new discovery stems from Pangolin's discovery earlier this year of two
kimberlites, Magi-01 and Magi-02, at its Tsabong North Project. 


Aeromagnetic data on those finds was submitted by Pangolin for independent
review by Mr. Billy Steenkamp, of Xcalibur Airborne Geophysics of Pretoria,
South Africa. Mr. Steenkamp is a Qualified Person under National Instrument
43-101 rules. His observations include the following:




--  The previously reported Magi kimberlites are part of a single intrusive
    complex with a total surface area estimated at 270 Hectares (2.7 km2): 
--  Some of the selected intrusive kimberlite targets could be of syn- or
    pre-Karoo age; and 
--  Two new kimberlite drill targets have been identified with total
    intrusive areas modeled at 170 Hectares (1.7 km2) and 175 Hectares (1.75
    km2).



Based on these observations, Pangolin drilled a new hole between the Magi-01 and
Magi-02 kimberlites. The new hole positively intersected the same sandy tuffs
recognized in the two previous drill holes, confirming that the Magi-Kimberlite
is a single large body and not two smaller kimberlites as previously believed.


The Magi-Kimberlite has now been confirmed over a distance of 1,200 metres in an
East-West direction. The average depth of intersection of the crater facies
sediments is approximately 35 metres. The depths of intersection of the sandy
tuffs vary between 55.3 and 61.5 metres. 


Further work will begin shortly; seven additional holes have been laid out for
core drilling to determine the final size of the Magi-Kimberlite. These core
holes will also be used towards modeling the complex geology of the crater
sediments and kimberlitic sandy tuffs in preparation for future possible larger
diameter drilling. Each hole will intersect at least 100 metres of kimberlite to
recover any additional indicator minerals, and any diamonds. One hole will be
drilled to a minimum depth of 250 metres of kimberlite intersection.


Detailed logging of the core indicates that the Magi-Kimberlite is of syn-Karoo
age. This makes it older than the Cretaceous diamondiferous kimberlites of the
Tsabong kimberlite field further to the south, dated at 78 million years, but
potentially similar in age to the Jwaneng kimberlites, dated at 245 million
years.


Core samples from all the holes are being submitted to independent laboratories
to recover any additional indicator minerals, and any diamonds. High pressure
garnets originating deep in the earth's mantle have previously been recovered
from the Magi-1/1 drill core, 14 metres above the surface of the
Magi-Kimberlite.


Dr Leon Daniels, PhD, Chairman of the Board of Pangolin, stated: "The
geophysical models available to Pangolin strongly suggest the potential for
discovering additional very large kimberlites in the Tsabong North Project
area."


About the Tsabong North Project

The Tsabong North Project, located approximately 100 km north of the town of
Tsabong in south-western Botswana, is 1,545 km2 in size. It is comprised of
anomalous concentrations of kimberlite indicators and has large geo-botanical
features. Pangolin has identified more than 50 drill-ready aeromagnetic targets
in the Project area, several of which have surface areas exceeding 20 Hectares
(0.2 km2). 


The Tsabong North Project is situated on the margin of the Archaean Kaapvaal
Craton in a similar tectonic environment to the Orapa kimberlite field. The 45
mantle-derived garnets inclusive of the high pressure garnets were discovered in
the drill core Magi-01/01. These garnets are very similar in chemical
composition to the garnets from the Letlhakane Mine in the Orapa area. 


Pangolin's soil sampling has produced highly anomalous concentrations of
kimberlite indicators within the Project area. Microprobe analyses of indicator
minerals have confirmed the presence of G10 garnets, indicating the presence of
a mantle conducive to the crystallization of diamonds. A number of indicators
occur, including remnants of kelyphite that indicate close proximity to
kimberlite. Enzyme-leach trace element results are consistent with orientation
trace element results over known kimberlites near the Project.


The Company cautions that information regarding the Se251, MK1, Mwadui, and
Orapa kimberlites, and Letlhakane Mine or Orapa Mine, are not necessarily
indicative of the kimberlite or kimberlite targets being drilled by the Company.
The Company further cautions that there is no guarantee that the kimberlite
and/or kimberlite targets being drilled by the Company will return diamond
results of any economic significance.


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 9 Prospecting
Licences encompassing the Tsabong North, Jwaneng South, Malatswae and Mmadinare
Projects. Pangolin's management and team leaders have over 135 years of combined
diamond exploration experience in southern Africa. This makes the Company the
most experienced diamond explorer in Botswana other than De Beers Exploration
and Debswana. 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. Pangolin is well-funded to
continue its exploration programs for the next year.


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, and
Manfred R Marx, B.Sc., Diploma Environmental Sciences. Both are Qualified
Persons under National Instrument 43-101 rules.


For more information on Pangolin Diamonds Corp, please refer to
www.pangolindiamondscorp.com.


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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Pangolin Diamonds Corp.
Scott Young
Investor Relations
+1.416.488.1370
scott@pangolindiamondscorp.com


Pangolin Diamonds Corp.
Graham C. Warren
Chief Financial Officer
+1.416.594.0473
+1.416.594.1630 (FAX)
gwarren@pangolindiamondscorp.com
www.pangolindiamondscorp.com

Pangolin Diamonds (TSXV:PAN)
Gráfico Histórico do Ativo
De Mai 2024 até Jun 2024

Pangolin Diamonds (TSXV:PAN)
Gráfico Histórico do Ativo
De Jun 2023 até Jun 2024