November 22, 2007
Vancouver, British Columbia, Canada - Thursday, November 22, 2007 -
Peregrine Diamonds Ltd. (TSX-PGD) (“Peregrine”) is pleased to announce
that it has discovered three diamondiferous kimberlite pipes on its
wholly-owned Nanuq property, located approximately 300 kilometres north
of Rankin Inlet in Nunavut, Canada.
Peregrine has been exploring at Nanuq for the last two years, taking
1,692 heavy mineral samples and completing more than 14,000
line-kilometres of airborne and ground geophysical surveys. During the
summer of 2007, Peregrine began its first core drilling campaign at
Nanuq targeting three distinct magnetic anomalies, resulting in the
discovery of three diamondiferous kimberlite pipes. Twelve core holes
totaling 2,500 metres, drilled in a combination of angled and vertical
orientations, were completed on the three kimberlites with kimberlite
intersections ranging from 59 to 248 metres in length. With at least 10
additional magnetic anomalies currently identified on the property,
Peregrine is confident that additional kimberlites will likely be
discovered at Nanuq when drilling resumes next year.
Two of the three kimberlites discovered at Nanuq to date are among the
largest diamondiferous kimberlites yet discovered in the eastern Arctic
A total of approximately 1,632 kilograms of kimberlite from the three
pipes, named Naturalik, Kayuu, and Tudlik, were sent to the Saskatchewan
Research Council Geoanalytical Laboratories (SRC), which is accredited
to the ISO/IEC 17025 standard, for microdiamond recovery via caustic
fusion. As of today’s date, microdiamond results from 1,318.85 kilograms
of kimberlite have been received and are summarized below.
| Number of Diamonds per Sieve Size
|| Sample Wt.
Microdiamond results from the approximately 314 kilograms of kimberlite
currently outstanding, which are all from the Kayuu kimberlite pipe, are
expected from SRC by the end of this month. Considering the relatively
small sample sizes, Peregrine is very encouraged by these micro-diamond
Naturalik (which means Eagle in Inuktitut), is estimated to be over
seven hectares in size and is described as a multiphase pipe-shaped body
in-filled by two magmatic kimberlite units and a variably fragmented
volcaniclastic kimberlite unit.
Kayuu (which means Hawk in Inuktitut), is located approximately five
kilometres west of Naturalik and is estimated to be approximately five
hectares in size with complex internal geology. Kayuu is described as a
pipe-shaped body in-filled by six volcaniclastic kimberlite units and
one variable volcaniclastic to apparent magmatic kimberlite unit.
Tudlik (which means Sandpiper in Inuktitut), is located approximately
300 metres southwest of Kayuu. Tudlik is smaller than Naturalik and
Kayuu, at less than 1.0 hectare in size, and was intersected with only a
single drill hole. The kimberlite recovered is described as a
volcaniclastic unit, generally massive, fine-grained and moderately
macrocrystic with a low abundance of mantle indicator minerals and
country rock xenoliths.
The detailed geological analysis was conducted by Mineral Services
Canada Inc., in conjunction with Peregrine’s geological staff.