Peregrine Diamonds Identifies New High Diamond Domain at Chidliak
March 11, 15
(IDEX Online News) – Peregrine Diamonds Ltd. announced that it has identified a new geologic domain within its CH-7 kimberlite pipe that contains some of the highest total diamond counts defined to date at the Chidliak diamond project.
“The new results from our 2014 Diamond Resource Development Program show that there is tremendous potential to add significant carats to Chidliak,” said Tom Peregoodoff, Peregrine's president and CEO.
“Our work in 2014 added over 1 million carats to our Inferred Resource at CH-6, an increase of 15 percent. The new results from CH-7 define a previously unknown geological domain that has the potential to exceed the resource grade of 2.58 carats per ton established at CH-6.”
He added that the 2015 Diamond Resource Development Program has begun and is designed to confirm the grade estimates and provide diamond parcels to enable valuations for the key kimberlite pipes that will be included in a planned 2016 Preliminary Economic Assessment on a potential Phase 1 diamond mine development at Chidliak.
Peregrine Diamonds is a diamond exploration and development company focused on Canada's North. The company has discovered two new diamond districts in Nunavut, Nanuq and Chidliak in. Seventy one kimberlites have been discovered at the 100-percent owned hectare Chidliak project with eight being potentially economic.