April 18, 2007
Vancouver, British Columbia, Canada - Wednesday, April 18, 2007 - Eric
Friedland, President of Peregrine Diamonds Ltd. (TSX:PGD) (“Peregrine”)
is pleased to announce that, to date, approximately 2,260 wet tonnes of
kimberlite have been extracted from the plus nine hectare DO-27
kimberlite, WO Diamond Project, NT, Canada, via large diameter RC
(“LDRC”) drilling during the 2007 bulk sample program, which is still
on-going. This compares to a total of 566 wet tonnes recovered during
the 2006 program and a total of 168 wet tonnes from the 2005 program.
The significant increase in kimberlite recovery this year has been the
result of: careful logistical planning and management by Peregrine’s
operations team headed by Wendy Mathison, VP-Operations; the addition of
a third LDRC drill rig; the incorporation of various drilling
techniques learned from the previous bulk sampling programs; and, the
continuing colder temperatures in Canada’s far north as compared to last
On ice LDRC bulk sample drilling will continue as long as cold weather and lake ice competency allow.
Since December 6, 2006, 25 LDRC holes totalling 4,849 meters, and 9 core
holes totalling 2,094 meters, have been completed to date. A total of
1,505 bags of kimberlite have been filled, security sealed and sent to
BHP Billiton’s Ekati(tm) Diamond Mine for storage and processing at
their sample processing facility (see photos at
Photo Gallery section).
As the LDRC rig primarily responsible for setting casing (rig 440) has
completed all the casing sets, it has been demobilized to Ekati(tm) for
further transportation to Yellowknife via Hercules aircraft. A second
LDRC rig will be driven to Ekati(tm) prior to the closure of the ice
road from DO-27 to Ekati(tm). The third LDRC rig is currently scheduled
to remain on-site at DO-27.
More detailed information regarding the 2007 bulk sample program
including the final tonnage of kimberlite recovered, the timing for the
kimberlite processing at Ekati(tm), and the core drilling plans for this
summer and fall, will be released next month.
Jennifer Pell, Ph.D., P.Geo., Chief Geoscientist for Peregrine Diamonds
Ltd., is the Qualified Person under NI 43-101, for the WO Diamond
Peregrine is a well-funded Canadian diamond exploration/development
company that is managed by experienced geoscientists. In addition to
completing a third bulk sampling program on its WO Diamond Project, NT,
Peregrine is also exploring for other diamondiferous kimberlites on its
extensive land holdings in Canada. The Corporation trades on the Toronto
Stock Exchange under the symbol “PGD”.
For further information, please contact Jim Crawford, Manager - Investor Relations at 604-408-8880 or at email@example.com
Forward-Looking Statements: This document includes forward-looking
statements. Forward-looking statements include, but are not limited to
statements concerning Peregrine’s projects, pre-feasibility studies, and
other statements that are not historical facts. When used in this
document, the words such as “could,” “confident,” “plan,” “estimate,”
“expect,” “anticipated,” “intend,” “likely,” “may,” “potential,”
“should,” “scheduled,” “significant,” and similar expressions are
forward-looking statements. Although Peregrine Diamonds Ltd. believes
that its expectations reflected in these forward-looking statements are
reasonable, such statements involve risk and uncertainties and no
assurance can be given that actual results will be consistent with these
forward-looking statements. Important factors that could cause actual
results to differ from these forward-looking statements are disclosed in
the corporation’s periodic filings with Canadian regulators.
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