Peregrine Announces Nanuq North Kimberlite Discovery is Diamondiferous; 206 Diamonds Recovered from a 153 Kg Sample

February 10, 2009 PDF version
Peregrine Diamonds Ltd. (“Peregrine” or “the Company”) is pleased to announce initial diamond results from the NQN-001 kimberlite, situated on the 33,000 hectare Nanuq North property (“Nanuq North”) in Nunavut, Canada. Exploration at Nanuq North is governed by a letter agreement between Indicator Minerals Inc. (“Indicator”), Hunter Exploration Group (“Hunter”) and Peregrine. Nanuq North is situated just immediately north of Peregrine’s wholly owned 314,000 hectare Nanuq property (“Nanuq”), where the Company discovered three diamondiferous kimberlites in 2007.

A total of 206 diamonds larger than the .075 mm sieve size was recovered by caustic fusion from a 152.75 kilogram sample of the NQN-001 kimberlite. The sample consisted of drill cuttings collected using a reverse circulation/percussion drill. The analyses were performed at the Saskatchewan Research Council Geoanalytical Laboratories (“SRC”). The results are summarized in the following table.

NQN-001 CAUSTIC FUSION DIAMOND RESULTS

Down-hole
Sample
Interval (m)

Interval
Length
(m)

Sample
Weight
(kg)

Square Mesh Screen Size (in mm)

Number of
Diamonds

Number
of
Diamonds
per kg

0.075

0.106

0.150

0.212

0.300

0.425

0.600

8.8 - 72.8

64.0

125.75

39

37

18

15

1

0

2

112

0.89

72.8 - 86.5

13.7

27.00

38

33

11

7

3

1

1

94

3.48

Total

77.7

152.75

77

70

29

22

4

1

3

206

1.35



A 125.75 kilogram sample collected from the top 64.0 metres of the drill hole yielded 0.89 diamonds per kilogram while a 27.00 kilogram sample collected over a 13.7 metre interval at the bottom of the hole yielded 3.48 diamonds per kilogram.

The largest stone measured 0.98 mm x 0.72 mm x 0.70 mm and is described by SRC as a white/colourless, transparent tetrahexahedron. Seven of the eight diamonds larger than the 0.300 mm sieve size are described as white/colourless and the remaining diamond is described as off-white.

The NQN-001 kimberlite was discovered during a