Peregrine Aims to Confirm Extra Kimberlites at Chidliak Project

(IDEX Online) – Peregrine Diamonds Ltd. plans to confirm additional diamond resources in kimberlites with economic potential at its Chidliak diamond project in the remote Nunavut territory of Canada next year.

The company's objective is to advance the project to diamond production in phases, with the first phase of development centered on CH-6, CH-7 and CH-44, three of at least eight kimberlite pipes at Chidliak known to have economic potential.

So far, 71 kimberlites have been discovered at Chidliak, 42 of which are diamondiferous. Diamond testing has been deferred on 24 kimberlites. Peregrine is optimistic that more kimberlite pipes will be discovered at Chidliak.

The work programs completed in 2014 and planned for 2015 are designed to confirm diamond resources in the Phase One Kimberlites, the miner said. Once confirmed, these resources would form the foundation of an independent, NI 43-101-compliant, Preliminary Economic Assessment to be completed in 2016.

In preparation for the 2015 program a total of 421 tonnes of material, including the large diameter RC drill and all required support equipment and supplies, was successfully mobilized to Iqaluit on the 2014 sealift. Mobilization of the equipment into the Chidliak site from Iqaluit is scheduled to start next month via an overland winter trail and Hercules transport aircraft. Camp build-outs and related fuel staging in support of the bulk sample program were completed this summer. All of the permits required to conduct the 2015 bulk sample program have been received.

Preparation of the winter trail and staging area in Iqaluit will begin this month. A crew has mobilized to Chidliak and has begun site preparations, including construction of the ice strip for the Hercules.