Pangolin Diamonds Corp. (CVE:PAN) said this morning that drilling on the GK6 target at its Jwaneng South project in Botswana proved disappointing, with no kimberlite intersected.
With core drilling at the GK6 anomaly now completed, the company said that drilling intersected an "igneous intrusion" that accounts for the anomaly, but it is conclusively not a kimberlite.
"The result from GK6 is disappointing. However, Pangolin has identified numerous kimberlite targets in Botswana and our exploration in Jwaneng South and our three other Project areas continues with intensity," assured chairman Dr. Leon Daniels.
The drilling team on the project has now been relocated to a different geophyscial target within the area, Pangolin said, and drilling there has now begun. This new target is modeled to be greater than 20 hectares in size, the junior explorer added.
Pangolin has identified more than 20 drill-ready kimberlite targets at its Jwaneng South project through exploration work completed since 2011. The project is just 50 km south from the Jwaneng Mine, the world's richest diamond mine by value and operated by Debswana, a JV between DeBeers and Botswana.
In October, Pangolin reached a new 52-week high after two kimberlite discoveries at its Tsabong North project in Botswana, one of which was among the world's largest at 270 hectares. The company, which has four exploration properties in the world’s leading country for diamond production by value, is focused on Tsabong North, which is about 100 km north of the town of Tsabong in southwestern Botswana. The diamond explorer has found more than 50 drill-ready targets in the area.