Pangolin Reports Diamond Results from Its Magi & SWS21 Targets, Botswana

TORONTO, ONTARIO--(Marketwired - Sep 25, 2014) -

Highlights

• Four diamonds recovered from Magi-008 drill core;
  
  
• A total of 7 diamonds have now been recovered from Magi target;
  
  
• High-pressure mantle derived garnet, ilmenite and olivine have previously been recovered from Magi drill core; and
  
  
• Ground geophysical surveys to define drilling target below crater material will follow.
  
  

Pangolin Diamonds Corp. (TSX VENTURE:PAN) (the "Company" or "Pangolin") announces the receipt of the results of diamond recovery analysis for Tsabong North (the Magi target) and Mmadinare (SWS21 Intrusive target) projects in Botswana. Both projects are 100% owned by Pangolin.

Tsabong North - Magi target

The results of diamond recovery analysis for ten samples, submitted to C. F. Mineral Research ("CFM"), returned four diamonds. A further seventeen samples of Magi drill core, submitted to Saskatchewan Research Council Geoanalytical Laboratories ("SRC"), returned no diamonds

Ten core samples were selected from drill hole Magi008 for diamond recovery. Total weight of the core submitted was 63.3 kg. The samples were submitted to C.F. Mineral Research in Kelowna, Canada for diamond recovery using a caustic fusion technique. One sample contained diamonds.

The geologic description of the interval containing diamonds is described as a tuff-sediment. Drill hole Magi008 targeted a discrete circular magnetic high within the Magi target. The total depth of the drill hole was 121.3 m. A magnetic image of the Magi with the locations of drill holes is available at: http://wp.me/P4A7nq-e

A second batch of samples were submitted to the SRC who is accredited to the ISO/IEC 17025 standard by the Standards Council of Canada as a testing laboratory for diamond recovery using a caustic fusion technique. Core samples were selected from Magi004 (12 samples), Magi005 (1 sample), Magi006 (2 samples) and Magi007 (2 samples). Total weight of the core submitted was 90.8 kg. No diamonds were recovered by SRC.

Previously Pangolin reported the recovery of three diamonds from drill hole Magi005 (see news release 20 May 2014). The results are re-presented here in a format consistent with CIM reporting standards.

Further work is planned for the Magi to drill holes beyond the 100m vertical into two separate, discrete circular magnetic targets within the Magi. Additional geophysical work is also planned.

Mmadinare Project - SWS21 drill core

The results of diamond recovery analysis for 19 samples of SWS21 Intrusive drill core submitted to SRC reported no diamonds.

Core samples were selected from SWS21-001 (5 samples) and SWS21-002 (14 samples). Total weight of the core submitted was 69.6 kg. The samples were submitted to the SRC who is accredited to the ISO/IEC 17025 standard by the Standards Council of Canada as a testing laboratory for diamond analysis using a caustic fusion technique.

Ground work continues at the Mmadinare Project where a number of additional targets are being evaluated. A large soil sampling program is also prepared and expected to begin in late October following work at the Malatswae Project.

About the Tsabong North Diamond Project

The Tsabong North Project, located in southwestern Botswana, is 735 square kilometres in size. It is on the northern edge of the Tsabong Kimberlite Field known to contain 85 kimberlites. A number are diamond-bearing.

During the past nine months a series of airborne geophysical targets were drill tested. To date the most significant discovery is the Magi area where an apparently extensive kimberlitic tuff was intersected in eight drill holes.

The presence of diamonds in the Magi is consistent with the high pressure mantle derived garnets previously reported from this discovery and, together with the known diamondiferous Tsabong kimberlites to the south, confirms the general prospectivity for diamondiferous kimberlites in the area.

About the Mmadinare Diamond Project

The Mmadinare Project, located in northeast Botswana, is 658.5 square kilometres in size.

As reported in the September 18, 2013, news release, Pangolin previously discovered 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 similar 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 where follow-up sampling is in progress.

Quality Control and Quality Assurances

Quality assurance procedures, security, transport, storage, and processing protocols conform to chain of custody requirements. The SRC is accredited to the ISO/IEC 17025 standard by the Standards Council of Canada as a testing laboratory for diamond analysis using caustic fusion.

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 and is a Qualified Person as defined by National Instrument 43-101.

About Pangolin Diamonds Corp.

Pangolin Diamonds Corp. is building a leading diamond exploration and development company in the heart of Botswana, one of the world's leading diamond producing countries. 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.

Pangolin Diamonds Corp. - Social Connections

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