Toronto-based Pangolin Diamonds (TSX:V.PAN
, Stock Forum
) has announced a new discovery that company officials claim, at 270 hectares in size, is one of the largest kimberlites in the world
In late May of this year, in an interview with Stockhouse
, company executives laid out an ambitious timeline to discover more kimberlites and prove them to be diamondiferous, a target it now appears they hit a month early.
According to an independent review by Billy Steenkamp of Xcalibur Airborne Geophysics of Pretoria, South Africa, the discovery at the 100% owned Tsabong North project in Botswana outsizes the Lucapa Diamonds Se251 project in Angola (220 hectares), Firestone Diamonds (GREY:FRDIF
, Stock Forum
) MK1 in Botswana (180 hectares) and the Williamson Diamonds Mwadui mine in Tanzania (146 hectares).
Earlier this year, Pangolin reported the discovery of two new kimberlites – Magi-01 and Magi02 – at Tsabong. Those kimberlites turn out to be part of one large single intrusive complex, making up part of the new discovery.
According to a Pangolin news release, “Some of the selected intrusive kimberlite targets could be of syn- or pre-Karoo age; and two new kimberlite drill targets have been identified with total intrusive areas modeled at 170 Hectares (1.7 km2
) and 175 Hectares (1.75 km2
). Based on these observations, Pangolin drilled a new hole between the Magi-01 and Magi-02 kimberlites. The new hole positively intersected the same sandy tuffs recognized in the two previous drill holes, confirming that the Magi-Kimberlite is a single large body and not two smaller kimberlites as previously believed.”
“The Magi-Kimberlite has now been confirmed over a distance of 1,200 metres in an East-West direction. The average depth of intersection of the crater facies sediments is approximately 35 metres. The depths of intersection of the sandy tuffs vary between 55.3 and 61.5 metres.”
Pangolin plans seven additional holes to determine the final size of the Magi-Kimberlite. One of those holes will be drilled to 250 metres.
The company is bullish on further finds, with Dr Leon Daniels, PhD, Pangolin’s Chairman of the Board, stating: "The geophysical models available to Pangolin strongly suggest the potential for discovering additional very large kimberlites in the Tsabong North Project area."
Pangolin is the only Canadian listed junior exploration company that is wholly focused on diamond exploration in Botswana. The Company has eleven 100% owned prospecting licenses covering in excess of 5,300 square kilometres in four project areas.
FULL DISCLOSURE: Pangolin Diamonds is a Stockhouse Publishing client.