Pangolin Diamonds Intersects 59 Metres of Kimberlite at One of the World's Largest Kimberlites, in Botswana
11 Dezembro 2013 - 12:18PM
Marketwired
Pangolin Diamonds Intersects 59 Metres of Kimberlite at One of the
World's Largest Kimberlites, in Botswana
- Geophysical modeling suggests the Magi-Kimberlite at
Pangolin's Tsabong North Project in Botswana is a 270 hectare (2.7
km2) pipe
- The new Magi-04 drill hole is 400 metres north of the Magi-01
drill hole, increasing the confidence level as to its size
- Drilling at Magi-04 drill core intersects 59 metres of
kimberlite at 35 metres below surface
- This additional hole builds on earlier positive intersections
at the same site
- Company's drill program is funded into mid-2014
TORONTO, ONTARIO--(Marketwired - Dec 11, 2013) - Pangolin
Diamonds Corp. (TSX-VENTURE:PAN) (the "Company" or "Pangolin")
announced that it has core drilled a new hole, Magi-04, at the
Company's Magi kimberlite. Kimberlite was intersected from 35m
depth to 94 metres. Karoo sandstones were intersected from 94m to
127m at which depth the hole was terminated. The Magi, one of the
largest kimberlites in the world, modeled at 270 hectares (2.7
km2), is located in Pangolin's 100% owned Tsabong North Project
(the "Project") in Botswana. The kimberlite was discovered earlier
this year, as announced in the Company's October 16, 2013 news
release.
The Magi Kimberlite Discovery
The Magi kimberlite has now been confirmed over a distance of
1,200 metres in an East-West direction and 400 metres to the North.
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 continue. Six additional holes have been laid
out for core drilling to confirm the modeled 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. 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.
Dr Leon Daniels, PhD, Chairman of the Board of Pangolin, stated:
"The Magi-04 drill hole result is consistent with the
geophysical model for the kimberlite. Geological modeling of the
kimberlite will continue well into 2014. "
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. A total of 45 mantle-derived garnets,
inclusive of the high pressure diamond-indicator garnets, were
discovered in the drill core of Magi-01. These garnets are 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 Orapa
kimberlites, and Letlhakane Mine or Orapa Mine or Jwaneng
kimberlites, 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 4 separate projects throughout Botswana inclusive
of 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
mid-2014.
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 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.
Pangolin Diamonds Corp.Scott YoungInvestor
Relations+1.416.488.1370scott@pangolindiamondscorp.comPangolin
Diamonds Corp.Graham C. WarrenChief Financial
Officer+1.416.594.0473+1.416.594.1630gwarren@pangolindiamondscorp.comwww.pangolindiamondscorp.com
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