Peregrine Announces High Diamond Counts For CH-52 and CH-58 Kimberlites at Chidliak

October 6, 2011 PDF version
Peregrine Diamonds Ltd. (“Peregrine” or “the Company”) is pleased to report microdiamond results from the CH-52 and CH-58 kimberlites which were discovered earlier this year on the 8,580 square kilometre Chidliak project (“Chidliak” or “the Project”), Baffin Island, Nunavut, Canada. A 208.4 kilogram sample collected by core drilling from the CH-52 kimberlite yielded 252 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 0.045 carats. In addition, a 194.9 kilogram sample from the CH-58 kimberlite yielded 428 diamonds larger than the 0.106 mm sieve size, including one diamond larger than the 0.850 mm sieve size. Diamond results for eight more kimberlites from Chidliak are expected during the fourth quarter of 2011 and the first quarter of 2012.

As announced on June 2, 2011, the CH-52 kimberlite was discovered with the drilling of one vertical reverse circulation hole. Due to the presence of abundant kimberlite indicator minerals in the drill cuttings, two angle core holes were subsequently drilled across the body. The 208.4 kilogram sample reported here was collected from the drill core. The kimberlite is located approximately 200 metres south of the Sunrise camp and is five kilometres to the east of the Southern Focus Area, an area with an eight kilometre radius that hosts six of the seven kimberlites identified to date at Chidliak with economic diamond mining potential. The surface area of CH-52 is estimated at 0.2 hectares.

As announced on June 22, 2011, the CH-58 kimberlite was discovered by drilling two angled core holes across the body. CH-58 is located approximately 20 kilometres north of the CH-6 kimberlite and 300 metres south of the CH-55 kimberlite. As announced on September 12, 2011, a 195.6 kilogram sample from CH-55 yielded 214 diamonds larger than the 0.106 mm sieve size including one diamond larger than the 1.18 mm sieve size that weighed 0.03 carats. Both CH-55 and CH-58 are estimated to be over 0.5 hectares in size based on geophysical and drill data.

The following table summarizes caustic fusion diamond results from the CH-52 and CH-58 kimberlites. The analyses were performed at the Saskatchewan Research Council Geoanalytical Laboratories (“the SRC”).

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

CH-52

208.4

129

75

23

9

8

4

4

0

252

0.045

CH-58

194.