PAN Pangolin Diamonds Corp

Pangolin Diamonds Corp. (TSX VENTURE:PAN), (the "Company" or "Pangolin")
announced that it has completed down-the-hole percussion hammer drilling of 10
holes at the Company's 100% owned Malatswae Kimberlite Project (the "Project")
in northeastern Botswana. Malatswae is one of the four project areas for which
Pangolin has exploration licences in the country. 


The holes were drilled to a maximum depth of 130 metres. Samples of drill chips
have been sent to an independent laboratory for the recovery of any possible
indicator garnets and diamonds. The sample analysis results are pending.


Malatswae Project highlights include:



--  Pangolin's targets are significantly larger than Petra Diamonds' KX36
    kimberlite and have yielded similar concentrations of indicator garnets
    from soil samples;
     
--  Aeromagnetic positive and negative anomalies, similar to those of Petra
    Diamonds' KX36 kimberlite, with a surface area of approximately 5
    hectares;
     
--  Significant concentrations of mantle-derived garnets recovered from
    sampling, inclusive of G10 garnets; and
     
--  Garnet chemistry confirms a new kimberlite source is in the area rather
    than the Orapa kimberlite field.



The goal of Pangolin's initial drilling of the Malatswae Project was to obtain a
better understanding of the area's geology and to test a number of geophysical
targets of diverse magnetic character. The concentration of kimberlite
indicators within the Project area is an order of magnitude less than in the
Orapa kimberlite field. 


The geology of the area has been complicated by the presence of a ferricrete
horizon between two (2) and five (5) metres thick. Ferricrete is a hard,
erosion-resistant layer of surface material cemented by iron oxide. It appears
to have had a detrimental geochemical effect on the survival of kimberlite
indicators, particularly garnets, in a secondary environment, resulting in a
diffuse distribution of indicators that is more difficult to interpret. The
drilling program is intended to help overcome these challenges.


The results from the samples now being analyzed by an independent laboratory
will assist in determining the second phase of drilling in this area. The new
drilling will mainly target kimberlites. 


Two of Pangolin's prospecting licences in Malatswae, PL 561 and 562 of 2009,
have not been renewed. No drill targets were identified by the Company in those
two licence areas after several years of exploration. 


Dr Leon Daniels, B.Sc., Ph.D., Chairman of Pangolin, stated, "The history of the
kimberlitic garnets in the Malatswae Project is complex. Their chemistry
strongly suggests that there is an undiscovered kimberlite source within the
Project area and we intend to make the discovery. The completed drill program
will assist us towards that goal."


About the Malatswae Kimberlite Project

The Malatswae Kimberlite Project covers 400 km2 and is located 70 km southeast
of the Orapa Mine. The Project area consists of kimberlite targets. The chemical
compositions of the garnets from the Malatswae Project are distinctly different
from the garnets from the Orapa kimberlite field, indicating an undiscovered
kimberlite source. 


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 a
Qualified Person under National Instrument 43-101 rules.


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 Prospecting
Licences that encompass 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 into the next year. 

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


The Company cautions that information regarding the Orapa and Petra Diamonds
Limited kimberlites, or Orapa Mine, are not necessarily indicative of the
kimberlite or kimberlite targets being tested by the Company. There is no
guarantee that the kimberlite and/or kimberlite targets will return diamond
results of any economic significance.


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


References:

DeBeers web page:
http://www.debeersgroup.com/en/Operations/Mining/Mining-Operations/Debswana


Debswana web page: http://www.debswana.com/About%20Debswana/Pages/Introduction.aspx

Petra Diamonds Limited:
http://www.petradiamonds.com/operations/exploration/petra-diamonds-botswana.aspx


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