Tell me about Pangolin Diamonds.
Pangolin Diamonds (TSX: V.PAN, Stock Forum) is the only Canadian listed junior exploration company that is wholly focused on diamond exploration in Botswana, the best address in the world.
The Company has eleven 100% owned prospecting licenses covering in excess of 5,300 square kilometres in four project areas.
Although in distinctly different geological and geographical localities, each of the project areas are considered to have high potential to discover diamondiferous kimberlites and two of the areas have alluvial diamond potential.
Taking in consideration that there have been no major discoveries over the past fifteen years and known diamond resources are being depleted daily, small discoveries are not going to address the looming future diamond production shortfalls when measured against demand. Pangolin therefore has a focus on discovering large, +20 hectare kimberlites that will make significant contributions to world resources with mine life in excess of 40 years.
What distinguishes your company from others in your space?
The Company has, through the Chairman, an in-depth knowledge of the diamond exploration history and geology of Botswana. He has more years of diamond exploration experience in the country than any other geologist. Hence the locations of the projects of the Company have sound geological reason behind it.
The exploration methodologies employed by the company have proven track records in terms of their applicability to the environment within which they are applied. In addition, recent technological developments have been considered, tested and are being applied.
It is possible to explore in all four Projects all year round. Exploration costs, including drilling, compared to Canada, are very low. The Government is pro mining and exploration, and there are no indigenous population issues.
Tell me about your recent discovery.
Pangolin has announced the discovery of their first kimberlite within two months of commencing trading on the TSX-V. The Magi-01 kimberlite, which is associated with a +20 hectare aeromagnetic anomaly is in the Tsabong North Project and is located near the largest diamondiferous kimberlite in the world, the M1 kimberlite. https://www.firestonediamonds.com/operations/lesotho-botswana
How does the MAGI-01 core compared to M1 Diamondiferous kimberlite pipe 50km to the south?
Based on these positive results, two additional diamond drill holes intersecting at least 100 meters of kimberlite will be drilled on the Magi-01 kimberlite for kimberlite indicator mineral and microdiamond recovery. The Company has also elevated additional previously identified kimberlite targets in the project area to targets of high immediate interest with similar magnetic signatures to Magi-01/1.
The photos below compare the various kimberlite crater facies sediments (A1, A2) and RVK breccias (B1, B2) from Pangolin’s core drill hole Magi-01/1 (to the left) versus those from drill hole M1/50 from the M1 Kimberlite Pipe (to the right).
What differentiates your management team?
The management and field teams of Pangolin have more than 90 years of combined diamond exploration experience, inclusive of more than 50 years in Botswana. The Chairman has more than 30 years’ experience in Botswana and has successfully brought two kimberlites from discovery to production. In addition, he has significant diamond marketing experience. He was a co-founder of African Diamonds Plc (AIM: AFD), a Botswana focused diamond company acquired by Lucara Diamonds (TSX: T.LUC) for $100 million.
The senior field staff also have a record of kimberlite discoveries both in Zimbabwe and Botswana and have extensive experience in all aspects of diamond exploration, including sampling, ground geophysics, pitting, drilling, bulk sampling and DMS plant operation. The Company owns its own drills and mini-DMS plant for processing soil samples and kimberlite to recover indicators and diamonds.
What are your operational objectives for the next year? Do you have funding in place?
We plan to conduct all aspects of exploration required to make the projected kimberlite and alluvial discoveries as well as determining the presence of diamonds. The exploration activities employed will include aeromagnetic surveys, ground geophysics, soil sampling, geochemistry, drilling and processing of samples to recover kimberlite indicator minerals and micro and macro diamonds.
The Company is well funded to fully undertake its planned operations for the next 12 months.
Why should investors look at acquiring your stock today?
Pangolin is at its very early stages of the discovery trail having to date only discovered one kimberlite. It has the potential to make several discoveries in all its Projects. The more discoveries it makes, the higher the probability of making an economic discovery. The share performance of Diamet, Aber Resources and African Diamonds after economic discoveries suggest that, while exploration is a high risk venture, the market rewards success.
What are the catalysts that an investor can look forward to see in the next 3 months? 6 months?
3 Months: Discovery of additional kimberlites in more than one of the Projects.
6 Months: Proving that some of the discovered kimberlites are diamondiferous and discovery of alluvial deposits associated with the Orapa kimberlite field. Recent large diamond and blue diamond announcements from their mine in the Orapa kimberlite field by Lucara makes the discovery of such an alluvial deposit an attractive target.
Disclosure: Pangolin Diamonds Corp. is a Stockhouse client.