SRC Stakeholder Gold Corp

Pangolin Diamonds Corp. (the "Company" or "Pangolin") (TSX VENTURE:PAN) is
pleased to announce the recovery of micro-diamonds from a series of recently
acquired core samples from the Magi kimberlitic sandy tuff at its 100%-owned
Tsabong North project in south-west Botswana. 


Highlights include:



--  The Magi kimberlitic sandy tuff is diamond-bearing;

--  Three micro-diamonds are recovered from a 3.7 m interval of kimberlitic
    sandy tuff in drill hole Magi-005. The micro-diamonds have a total carat
    weight of 0.000108 ct with one diamond retained on the 0.150mm sieve; 

--  A further ten split-core samples from drill hole Magi-008 drill hole are
    on route to Canada for diamond recovery; 

--  Drill hole Magi-007 is complete and split-core samples are being
    considered for diamond recovery; 

--  Both drill holes will test two recently discovered circular magnetic
    features within the Magi kimberlitic sandy tuff area. 



The samples of drill hole from Magi-005 collected for diamond recovery at the
kimberlitic Magi area have returned three micro-diamonds from two consecutive
samples (sample 2304: 45.65 meters to 47.65 meters and sample 2305: 47.65 meters
to 49.35 meters) with a total length of 3.7 meters. The samples are described as
reddish brown, fine to medium grained sandy tuff with greater than 10% rock
fragments of quartz and schist, with some micro faults/joints in-filled with
siltstone. There are additional similar sandy tuff horizons in the drill hole
available for sampling.


The Magi core samples were submitted to the Saskatchewan Research Council
Geoanalytical Laboratories ("SRC") accredited to the ISO/IEC 17025 standard by
the Standards Council of Canada as a testing laboratory for diamond analysis
using caustic fusion.


During the period between sampling and the delivery of these results Pangolin
has continued to work on the Magi area. A ground magnetic survey was
particularly successful in recognizing two separate magnetic features in close
proximity to the sandy tuff area. The reader is encouraged to visit the Pangolin
Diamonds website to view an image of the Magi magnetic targets and the location
of the drill holes completed (www.pangolindiamondscorp.com/Tsabong.php). 


Drill hole Magi008 was recently completed and ten split-core samples of fine to
medium grained chaotic to banded sandy tuff were selected for diamond recovery
work. These samples are on route to CF Mineral Research Limited in Canada. The
results are not expected for at least one to two months. Drill hole Magi-007 was
just completed and will be logged and sampled as necessary. Planning is now
underway to step-up the sampling and drilling program at Magi.


Mmadinare Diamond Project

Pangolin received a confirmation report of previously reported micro-diamonds
recovered from soil samples at its 100% owned Mmadinare Diamond Project in
north-east Botswana. The confirmation testing report of four grains from the
Mmadinare project; two previously reported as micro-diamonds after mineral
observation (Block 01 and Block 02) and two additional "possible" micro-diamonds
(Block 01) did not pass diamond testing. The significant numbers of mineral
indicators recovered from the same set of samples, primarily ilmenites, are
being prepared for micro-probe analysis to characterize their potential diamond
affinity. The Company remains confident that the indicator rich areas discovered
to date and the presence of the SWS-21 intrusion containing mantle minerals with
chemistry related to the diamond stability field are indicative of the area's
diamond potential.


Diamond confirmation testing was carried out by CF Mineral Research Limited in
Kelowna, Canada using an EDS spectrum test. 


The first phase of follow-up soil sampling designed to expand on the discovery
of numerous indicator minerals in two separate areas within the project is
complete. The 148 samples will be processed by Pangolin in its DMS plant located
in Francistown, Botswana. Mineral concentrates will then be observed by an
independent agent with confirmation testing, if necessary, by CF Mineral
Research Limited.


Malatswae Diamond Project

Pangolin Diamonds, in its wholly owned subsidiary Geocontracts Botswana (Pty)
Limited, was issued in terms of Section 16 of the Mines and Minerals Act, a new
Prospecting Licence (PL247/2014) for the exclusive right to prospect for
Precious Stones within a 839 km2 area of the Central District, Botswana.


Field work will begin shortly in accordance with the proposed work programme
outlined in the PL application. The first year will involve soil sampling for
indicator minerals on a one kilometre grid.


About the Tsabong North Diamond Project

The Tsabong North Project, located in southwestern Botswana, is 1,546.06 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 six 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 1,345.6 square
kilometres in size. It contains similar geological environmental indicators to
known mines such as Venetia, the Oaks, Martins Drift and River Ranch. 


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 identical 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. 


About the Malatswae Diamond Project

The Malatswae Diamond Project covers approximately 1,200 km2 and is located 70
km southeast of the Orapa Mine. The Project targets kimberlite. The chemical

compositions of the garnets from the Malatswae Project are distinctly different
from the garnets from the Orapa kimberlite field, indicating an undiscovered
kimberlite

source.

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 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, the world's leading diamond
producing country by value. 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. This places the Company as one
of the most experienced diamond explorers in Botswana. 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.


For more information, please refer to www.pangolindiamondscorp.com

Follow us on Twitter: @pangolindiamond 

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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Pangolin Diamonds Corp.
Scott Young
Investor Relations
+1.416.488.1370
scott@pangolindiamondscorp.com


Pangolin Diamonds Corp.
Graham C. Warren
Chief Financial Officer
+1.416.594.0473
+1.416.594.1630 (FAX)
gwarren@pangolindiamondscorp.com

Stakeholder Gold (TSXV:SRC)
Historical Stock Chart
From Oct 2024 to Nov 2024

Stakeholder Gold (TSXV:SRC)
Historical Stock Chart
From Nov 2023 to Nov 2024