CH-7 Mini-Bulk Sample Returns Grade Of 1.04 Carats Per Tonne; 15 Diamonds Over 0.50 Carat Including 6.53, 2.18, And 1.24 Carat Stones

November 22, 2010 PDF version
Peregrine Diamonds Ltd. (“Peregrine” or “the Company”) is pleased to report that a mini-bulk sample of surface material collected from the CH-7 kimberlite weighing 47.2 dry tonnes returned 49.07 carats of commercial-sized diamonds larger than the 0.85 mm sieve size, for a diamond grade of 1.04 carats per tonne (“cpt”). The mini-bulk sample yielded 502 commercial-size diamonds, 15 of which weighed 0.50 carat or more, including three diamonds larger than one carat. The four largest diamonds weighed 6.53, 2.18, 1.24 and 0.98 carats.

The CH-7 kimberlite has an estimated surface expression of one hectare and is located on the 9,800 square kilometre Chidliak project (“Chidliak”), Baffin Island, Nunavut, Canada. The sample was processed by dense media separation (“DMS”) at the Saskatchewan Research Council Geoanalytical Laboratories (“the SRC”). The diamond results are presented in square mesh sieve format in the following table.

SUMMARY OF CH-7 MINI-BULK SAMPLE DIAMOND RESULTS

Dry
Sample
Weight
(tonnes)
Numbers of Diamonds According to Sieve Size Fraction (mm) Total
Diamonds
Carats
(+0.85 mm)
Diamond
Content (cpt)
(+0.85 mm)
+0.85
-1.18
+1.18
-1.70
+1.70
-2.36
+2.36
-3.35
+3.35
-4.75
+4.75
47.2 146 172 111 55 16 2 502 49.07 1.04
The diamond content of the CH-7 sample as determined by DMS processing may not be representative of the overall diamond content of the CH-7 kimberlite due to a number of factors including the limited surface area of the kimberlite from which the CH-7 sample was collected and the relatively small size of the sample.

The colours and shapes of the fifteen diamonds 0.50 carat and larger were described by the SRC. One diamond was white/colourless, six were off-white, five were grey and three were brown. Ten of the diamonds were described as octahedrons, three were distorted crystals and two were aggregates. The largest four diamonds were a 6.53 carat grey, translucent distorted crystal, a 2.18 carat white/colorless, transparent octahedron, a 1.24 carat off-white, transparent aggregate and a 0.98 carat off-white, transparent octahedroid.

Images from CH-7 and photographs of some of the diamonds recovered from CH-7 are available at the following link here.

Eric Friedland, Peregrine’s CEO stated “We are pleased to see a grade of one carat per tonne and a population of gem quality diamonds in this mini-bulk sample from CH-7, results that certainly justify a large bulk sample of this pipe and are another illustration of the excellent potential for Chidliak to host a diamond mine. We now have five kimberlites with economic potential in Arctic settings at Chidliak, and four of those are clustered within an area that has only an eight kilometre radius: CH-1, CH-6, CH-7 and CH-31. We hope to add to this growing list of potentially economi