TORONTO, ONTARIO — (Marketwired) — 06/11/13 — Editors Note: There are two figures associated with this press release.
Pangolin Diamonds Corp. (TSX VENTURE: PAN), (the „Company“ or „Pangolin“) is pleased to announce it has completed a detailed aeromagnetic and radiometric survey over its 100% owned Jwaneng South Project in Botswana. The survey of the 799 km2 project area, located on the Archaean Kaapvaal Craton, identified multiple large aeromagnetic anomalies commonly associated with kimberlites. In addition, a ground gravity survey was completed over the 1.4 km diameter GK6 target.
The Jwaneng South Project is close to De Beers- Jwaneng Mine, the richest diamond mine in the world by value ().
The findings include:
The GK6 anomaly highlights are shown in the figure below:
To view the figure associated with this press release, please visit the following link:
Dr Leon Daniels, B.Sc., Ph.D., Chairman of the Board of Pangolin, stated: „Based on these positive results, we have demonstrated the Company possesses multiple high potential project areas for discovering new kimberlites. We have prioritized drilling in the Jwaneng South Project area and will commence in Q3 of 2013. The recently concluded aeromagnetic, radiometric and gravity surveys move us closer to completion of a National Instrument 43-101 Technical Report for this Project.“
The Jwaneng South aeromagnetic survey data indicates a range of aeromagnetic anomalies, both magnetic positive and magnetic negative. The figure below shows a 650 meter wide positive anomaly and a 1,000 meter wide negative anomaly.
Separately, Pangolin confirmed that drilling continues at its Tsabong North Project. In addition, exploration activities continue at Pangolin-s Malatswae and Mmadinare Projects.
(A map of the project areas can be found at ).
Details of the airborne survey work
Xcalibur Airborne Geophysics (XAG) from South Africa performed a detailed high resolution airborne geophysical survey. XAG used an Air Tractor system for the execution of this survey.
Magnetic data was collected with two Geometrics G823 Cesium Vapor sensors. The data was recorded at a resolution of 0.001nT and the rate of recording was 20Hz (twenty times per second).
Compensation to remove aircraft effects was done with a RMS AARC-500 Compensator. Horizontal navigation was carried out using an AGNAV LINAV system driven by real-time differential GPS. Vertical navigation was carried out with a laser altimeter. Navigational accuracy was better than 5 meters.
The natural gamma-ray emissions from the ground were measured by a 256 channel Radiation Solutions RS-500 advanced digital gamma-ray spectrometer using 8 crystals totaling a volume of 32 litres. Data was recorded at a rate of 2 Hz.
About the Jwaneng South Project
The Jwaneng South Project covers 799 km2 and is situated on the Archaean Kaapvaal Craton in Botswana. It is located 50 km south of the diamondiferous Jwaneng kimberlite field that hosts the Jwaneng Mine, the richest diamond mine in the world by value ().
The Project is comprised of several anomalous and large geo-botanical features associated with trace element signatures similar to those obtained over known diamondiferous kimberlites in the Jwaneng kimberlite field. Pangolin has identified more than 20 aeromagnetic targets in the Project area, several of which have surface areas exceeding 20 hectares. The largest target, GK6, is associated with a well defined geobotanical anomaly with a diameter of 1.4 km, an aeromagnetic anomaly, anomalous trace elements and an isolated gravity low.
About Pangolin Diamonds Corp.
Pangolin Diamonds Corp. is building a leading diamond exploration and development company in Botswana, the world-s leading diamond producing country by value. The Company fully owns 11 prospecting licences covering 5,307 km2, including the Tsabong North, Jwaneng South, Malatswae and Mmadinare Projects. Pangolin-s management and team leaders are among the most experienced diamond explorers in Botswana, with more than 90 years of combined experience in southern Africa. The Company is well-funded and fully equipped to advance its exploration programs for the next year, with two diamond drill rigs and a portable 1 tonne per hour Dense Media Separation Plant for sample preparation and making kimberlite concentrates.
For more Company information, please go to .
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.
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.
Contacts: Pangolin Diamonds Corp. Scott Young Investor Relations +1.416.488.1370
Pangolin Diamonds Corp. Graham C. Warren Chief Financial Officer +1.416.594.0473 +1.416.594.1630 (FAX)
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