Peregrine Announces Four Tonnes Of Kimberlite Collected From NQN-001 Kimberlite At Nanuq North And Commencement Of Drilling At Nanuq

June 30, 2010 PDF version
Peregrine Diamonds Ltd. (“Peregrine” or “the Company”) (TSX:PGD) is pleased to announce that drilling of the diamond-bearing NQN-001 kimberlite has concluded at the Nanuq North project (“Nanuq North”) in Nunavut, Canada, and that four tonnes of kimberlite have been collected for diamond analysis. Discovered in 2008, NQN-001 is located approximately 275 kilometres north of the community of Rankin Inlet, and two kilometres north of Peregrine’s wholly-owned 315,000 hectare Nanuq project (“Nanuq”). The core drilling rig that was used at Nanuq North has been moved to Nanuq, where the drilling of at least six kimberlite targets is scheduled to commence next week.

NANUQ NORTH DRILLING PROGRAMME
A total of 762 metres in six holes was drilled into the NQN-001 kimberlite during the 2010 drilling programme. Five of the holes were drilled at a -50ยบ angle and intersected the edge of the kimberlite at depths between 60 and 126 metres below the surface, allowing for a cursory estimate of surface expression and internal kimberlite geology. Preliminary analysis of the drill core suggests that the NQN-001 kimberlite has good continuity at depth with at least two phases (types) of kimberlite present and is approximately 1.8 hectares in size at surface. Drilling results are summarized in tables one and two.

More than four tonnes of kimberlite was recovered from the NQN-001 kimberlite. The sample is composed of a medium-grained, strongly magnetic kimberlite and a coarse-grained, moderately magnetic kimberlite. Both phases are olivine-rich and contain peridotitic pyrope and eclogitic garnets. The core is being shipped to a secure facility in Vancouver, where a more detailed geological analysis will be conducted prior to the sample being sent to an accredited lab for diamond analysis. Initial diamond results are anticipated in October 2010.

Table 1: Drill set-up on top of NQN-001 kimberlite

Hole

Angle

Kimberlite
Interval (m)

Kimberlite Intersection Length (m)

Comments

2010-01

-90

13.7 - 257.0

243.3

Terminated in kimberlite

2010-02

-50

24.6 - 165.1

140.5

Terminated in granite

2010-03

-50

16.8 - 87.4

70.6

Terminated in granite

2010-04

-50

19.0 - 78.7

59.7

Terminated in granite



Table 2: Drill set-up outside of NQN-001 kimberlite

Hole

Angle

Kimberlite
Interval (m)

Kimberlite Intersection Length (m)

Comments

2010-05

-50

105.4 - 209.0

103.6

Terminated in kimberlite

2010-06

-50

80.0 - 224.0

144.0

Terminated in kimberlite


NANUQ NORTH BACKGROUND INFORMATION</