TSXV-listed Pangolin Diamonds said a percussion drill programme conducted at its wholly-owned Malatswae diamond project in Botswana has returned positive kimberlite indicator minerals at depths between 74 and 98 m.
The drilling was undertaken where a target was initially identified from regional aeromagnetic data.
A subsequent detailed groundmagnetic survey and soil sampling programme resulted in a positive magnetic anomaly of approximately 10 ha which had disrupted the continuation of Karoo age dolerite dykes.
“The groundmagnetic data was submitted to Xcalibur Airborne Geophysics for interpretation who concluded that both 2.5 D simple body profile modelling and 3D magnetic inversion modelling results show quite convincing kimberlite-like shapes,” it said.
“The target’s magnetic manifestation indicates a complex body made up of different facies and possible different lobes of magma pulses, particularly in the more detailed 3D UBC magnetic inversion performed as part of the Xcalibur interpretation.”