Peregrine Announces Four Additional Kimberlite Discoveries and Provides Exploration Update at Chidliak, Baffin Island, Nunavut

August 6, 2009 PDF version
Peregrine Diamonds Ltd. (“Peregrine”) is pleased to report the discovery of four additional kimberlites on the 9,800 square kilometre Chidliak property (“Chidliak” or “the Property”), Baffin Island, Nunavut, Canada. The CH-6 kimberlite was discovered by drilling whereas the other three kimberlites, CH-7, CH-8 and CH-9, were discovered at surface while prospecting geophysical anomalies. Since commencement of the Chidliak summer exploration programme on July 3, six new kimberlites have been discovered, two by drilling and four by prospecting and mapping. Kimberlite samples collected from these discoveries will be processed this fall for microdiamonds to assess their diamond potential.

In addition to the four new kimberlite discoveries, two additional drill holes have been completed on the CH-1 kimberlite, over 850 indicator mineral samples have been collected, 58 geophysical anomalies have been evaluated on the ground by prospecting and geochemical sampling, kimberlite float was discovered by prospecting at four locations and the collection of a 50 tonne mini-bulk sample of kimberlite from a surface exposure at CH-1 has commenced. Kimberlite has been discovered at two of six geophysical anomalies drilled this year, CH-4 and CH-6, while the other four anomalies were explained by sulphides observed in the drill core. Portions of the sulphide-bearing drill core will be evaluated for base and precious metals potential.

The following table describes drilling done to date at the CH-6 and CH-1 kimberlites.

SUMMARY OF 2009 DRILLING AT THE CH-6 AND CH-1 KIMBERLITES


Kimberlite,
Drill Hole #
Azimuth Inclination
from
Horizontal
Overburden (m) Kimberlite Intercepts (m) End of Hole (m)
From To Intercept
CH-6, #1 057° -45° 21 21 85 64 180
117 118 1 180
CH-6, #2
-90° 16 30 250 220 250
CH-6, #3 022° -45° 16 16 152 136 180








CH-1, #1* 038° -45° 5 56 111 55 245
129 137 8 245
152 208 56 245
CH-1, #2 120° -45° 16 16 66 50 177
78 103 25 177
CH-1, #3
-90° 5 - - - 50

* Drill intersections first reported on July 16, 2009.
Note: All intercepts below the overburden that are not kimberlite are gneiss.</