Peregrine Announces Coarse Diamond Size Distribution at CH-59

October 27, 2011 PDF version
Peregrine Diamonds Ltd. (“Peregrine” or “the Company”) is pleased to report microdiamond results from the CH-59 and CH-33 kimberlites on the 8,580 square kilometre Chidliak project (“Chidliak” or “the Project”), and from the Q3 kimberlite on the adjacent 4,370 square kilometre Qilaq project (“Qilaq”) on Baffin Island, Nunavut, Canada. A 169.2 kilogram sample of kimberlite that was found at surface proximal to CH-59 yielded 174 diamonds larger than the 0.106 mm sieve size, including four diamonds larger than the 0.850 mm sieve size which weigh a total of 0.047 carats. Diamond results for five more kimberlites, CH-6, CH-7, CH-31, CH-44 and CH-45, and additional results from CH-59 are expected during the fourth quarter of 2011 and the first quarter of 2012.

The following table summarizes caustic fusion diamond results from the CH-59 and CH-33 kimberlites. The analyses were performed at the Saskatchewan Research Council Geoanalytical Laboratories (“the SRC”).

DIAMOND RESULTS FROM THE CH-59 AND CH-33 KIMBERLITES

Kimberlite Sample Weight (kg) Numbers of Diamonds According to Sieve Size Fraction (mm) Total Diamonds Carats
(+0.850
mm size)
+0.106
-0.150
+0.150
-0.212
+0.212
-0.300
+0.300
-0.425
+0.425
-0.600
+0.600
-0.850
+0.850
-1.180
+1.180
-1.700
+1.700
-2.360
CH-59 169.2 69 46 30 13 9 3 4 0 0 174 .047













CH-33 397.7 35 8 5 5 2 0 0 0 0 55 0
CH-33* 473.8 66 43 22 10 6 2 0 1 0 150 0.024













CH-33 Total

871.5

101

51

27

15

8

2

0

1

0

205

0.024

* CH-33 results previously announced on January 13, 2011

One of the four diamonds larger than 0.850 mm in the CH-59 sample was characterized by the SRC as being white/colourless and three were off-white.

As announced on September 12, 2011, the CH-59 kimberlite was discovered by reverse circulation (“RC”) drilling of a magnetic high anomaly. Kimberlite float was discovered near the southern edge of the magnetic anomaly. Diamond results from samples of RC drill cuttings collected from CH-59 are expected later this year. The kimberlite is located approximately two kilometres north of CH-52 and approximately five kilometres to the east of the Southern Focus Area, an area with an eight kilometre radius that hosts six of the seven kimberlites with economic potential identified to date at Chidliak. Based on the RC drilling and its geophysical signature, CH-59 has an estimated surface area of 0.1 hectares.

As announced on August 23, 2010, the CH-33 kimberlite was discovered by prospecting in an area of abundant kimberlite boulders and cobbles. The 397.7 kilogram sample reported here was collected from three angle core holes that were drilled across the kimberlite this year. Based on the interpretation of drill and geophysical data, CH-33 has an estimated surface expression of five