PAN Pangolin Diamonds Corp

Pangolin Diamonds Corp. (TSX-V: PAN) (“the Company” or “Pangolin”) wishes to update shareholders on recent activities at its various projects in the Republic of Botswana, Africa.

Highlights Include

• Positive drill results at Kweneng
• 52.5% of chromites recovered from soils at Kweneng indicative of diamond stability field
• 68 aeromagnetic targets identified at Motloutse and Malatswae

Kweneng

Drilling intersected a shallow (< 1 m overburden) phlogopite and clinopyroxene rich ultramafic hypabyssal dyke of approximately 6m in true width. Processing of 25 kg drill chips through Pangolin’s in-house 1 TPH DMS plant produced chromite, clinopyroxenes, and what is interpreted as fragments of a chromite-garnet peridotite. The Kweneng Project is located about 20 km north of Botswana’s capital, Gaborone.

The dyke material is highly altered and is currently interpreted as a phlogopite-rich lamprophyre - similar to the diamondiferous lamprophyres discovered by Southern Africa Minerals Corporation in 1998 approximately 33 km to the north. Pangolin’s samples will be submitted for petrographic identification.

This discovery came on the back of an extensive soil sampling program that identified a chromite anomaly measuring approximately 850 m x 250 m. Based on the indicator distribution and the relative location of the dyke, it is expected that more dykes may be present in the area. A soil sampling programme will continue once the lockdown is lifted to determine the horizontal extent of the dyke, locating any diatreme structures associated with the dyke as well as locating additional dykes within the KW04 area.

Dykes have been mined in South Africa for diamonds to depths exceeding 1000 metres below the surface.  Significant diamonds mines have been established on the Bellsbank, Bobbejaan, Ardo, Helam, Roberts Victor, Star and Klipspringer dykes.  Economic kimberlite dykes normally average 60 cm – 80 cm in width and tend to maintain their width and grade with increasing depth.  

Chromites have been identified as diamond inclusions in West Africa, Dokolwayo in Swaziland, the five mines in Kimberley, Roberts Victor Star (all in South Africa), the Diavik kimberlite in Canada and Murowa as well as River Ranch in Zimbabwe.

A total of 326 kimberlite indicator minerals from surface soil samples (KIMs) were submitted to C.F. Mineral Research (CFM) in Kelowna, BC, Canada for microprobe analysis. C.F. Mineral Research Ltd. is certified ISO 9001:2015 and compliant with ISO 17025:2005

52.5% of chromites analyzed were classified as being derived from a “diamond friendly” environment in the mantle.

• 23% classified as CR DI; Chromite with major element diamond-inclusion composition 
• 29.5% classified as CR DI*; Diamond-Inclusion Chromite from favorable harzburgite source

Chromites with Cr2O3 in excess of the stoichiometric limit of 67.9% Cr2O3 comprised 5.5 % of the population, thus indicating a derivation from a highly oxygen reduced environment which is favorable for the formation of diamonds.

The significance of chromites in diamond exploration was recognized in a publication by Griffin et al (1991) where it was stated:

“The high proportion of chromites as inclusions in diamonds from the producing mines in Siberia suggests that disaggregated chromite peridotite can make a major contribution to the overall diamond content of at least some kimberlites. Diamond inclusions also show that important contributions from chromite bearing rocks have occurred in West Africa, at Dokolwayo in Swaziland, at the five mines in Kimberley, at Roberts Victor and at Star (all in South Africa). No doubt there are many other examples.”

Subsequent to this publication, chromites have been identified as diamond inclusions in the Diavik kimberlite in Canada and Murowa and River Ranch in Zimbabwe.

COVID-19

Fieldwork in Botswana ceased at the end of March due to a nationwide lockdown. The lockdown is currently extended to 08 May but may be further extended depending on the spread of the virus in the country. To date, there are 23 confirmed COVID-19 cases in Botswana.

Pangolin has used its time during the lockdown for reviewing all existing data and for planning future field programs. Preparations are made to commence exploration as soon as the lockdown is lifted.

Motloutse and Malatswae

Aeromagnetic data over the Malatswae and Motloutse Project areas has been reviewed extensively. As a result, 38 aeromagnetic targets in the Motloutse Project area and 30 targets in the Malatswae Project area were identified for follow-up with groundmagnetic surveys and soil sampling. Once the targets have been followed up on the ground, the top twelve selected targets, based on magnetic and soil sample results, will be drilled.

AK10 Kimberlite Pipe

Due to the close working distances required at the AK10 kimberlite, work at the project has been suspended until such time that the Botswana Government lifts all social distancing requirements related to the COVID-19 virus.

References

Griffin WL, Ryan CG, Gurney JJ, Sobolev NV and Win TT (1991). Chromite macrocrysts in kimberlites and lamproites: Geochemistry and origin. Proceedings of the Fifth International Kimberlite Conference, pp 366 – 377.

McGeorge IB. (1999). Report on core and percussion drilling on the Mosomane Property, Botswana for Southern African Minerals Corporation.  MPH Consulting Botswana (Pty) Limited, pp 1 – 17.

Quality Control and Quality AssurancesQuality assurance procedures, security, transport, storage, and processing protocols conform to chain of custody requirements.

The technical disclosure in this news release has been reviewed and approved by Leon Daniels, PhD, and a Qualified Person as defined by National Instrument 43-101.

About Pangolin Pangolin Diamonds focuses on exploring and developing commercial diamond mines in the Republic of Botswana. Management and our advisors are veterans of diamond discoveries and project finance. Pangolin is managed from Toronto, Canada, and Francistown, Botswana, and trades on the Toronto Venture Exchange under the symbol “PAN”. For more information please view the recent presentations on our website at www.pangolindiamonds.com

Dr. Leon Daniels, President and CEOEmail: ldaniels@pangolindiamonds.com

Graham C. Warren, Chief Financial OfficerEmail: gwarren@pangolindiamonds.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.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/81bcddbd-ebba-4a73-aa12-f0cd4d5267e4