Sep 30, 2015

Pangolin Recovers Fifth Diamond from Malatswae Diamond Project, Botswana

Pangolin Diamonds Corp. has reported positive soil sample results from testing carried out at its wholly-owned Malatswae Diamond Project in Botswana. The company said in a release that a diamond was recovered in the sample collected in the upwind direction from the MSC Grid and an ilmenite with kimberlite attached was recovered from another soil sample.

The Malatswae project lies 90 km southeast of the Orapa kimberlite field.

The testing of sample MX14002 produced an equant, brown aggregate diamond which reported on the 0.425 mm screen and is just under 1mm in each dimension. Irregular ruts in the diamond contain a secondary, tan-coloured rock material. Three diamonds have previously been reported from the MSC Grid, and this appears to define a trend parallel to one of the dominant wind directions in the area, Pangolin said.

Similarly, Sample MX0102 produced a blocky, angular ilmenite with dimensions of 2.5x1.5x1.5mm. The other surfaces of the ilmenites are covered with altered kimberlitewhich suggests minimal transport.

The Company said it plans to carry out Gravity Surveys over the two aeromagnetic targets which will contribute to the selection criteria of drill targets during the fourth quarter of 2015.