Lac de Gras

Lac de Gras East Northwest Territories

The Lac de Gras East property consists of 79 mineral claims covering 78,026 hectares, located 300 km northeast of Yellowknife. (Click here to view the location map) Peregrine has 65% interest in 24 claims, with the other 35% held by Thelon Capital Ltd. The other claims are 100% held by Peregrine.

The Lac de Gras East property is in the Eastern Slave Province (Contwoyto Terrane) and is predominantly underlain by Archean granitic rocks and, more rarely, by supracrustal metasedimentary rocks. The claims are covered, to varying degrees, by a veneer of till, the majority of which is basal till. The property is in a region of numerous kimberlite occurrences, the most notable is the Diavik^TM and Ekati^TM Diamond Mine properties, which contain two of the richest kimberlite fields in the world. The Lac de Gras East claims surround Peregrine's WO property which hosts the DO-27 kimberlite.

Since 2004, exploration at Lac de Gras East has included collecting over 1,000 indicator mineral samples and completion of electromagnetic and magnetometer airborne geophysical surveys over the property. A Falcon^TMairborne gravity gradiometer survey was completed covering some of the claims. A number of high and medium priority geophysical targets have been identified from these surveys and ground geophysical surveys (magnetic, electromagnetic and gravity) have been completed over some targets.

Till samples have been analyzed producing abundant kimberlite indicator minerals, with no apparent source yet discovered on the property. The kimberlite indicator minerals and the presence of untested high priority geophysical anomalies indicate that good potential exists for kimberlites to be discovered on the Lac de Gras East property.