Peregrine Discovers Three More Kimberlites at Chidliak

June 22, 2011 PDF version
Peregrine Diamonds Ltd. (“Peregrine” or “the Company”) (TSX:PGD) is pleased to report the discovery by drilling of three new kimberlites, CH-56, CH-57 and CH-58, on the Chidliak project (“Chidliak” or “the Project”). Chidliak is located on southern Baffin Island approximately 100 kilometres northeast of Iqaluit, the capital of Nunavut, Canada. The company has drilled 15 targets and discovered eight kimberlites since April of this year, a success rate of 53 percent. To date, 35 of the 58 kimberlites that have been discovered at Chidliak have been tested for diamonds and seven of these have economic diamond mining potential in Arctic settings. In addition to the three new discoveries, a second core hole has been drilled into the CH-55 kimberlite, the discovery of which was reported on June 2, 2011. Currently one core rig has commenced drilling on kimberlite CH-31 and the other core rig on kimberlite CH-33. The reverse circulation rig will continue drilling priority targets.

Drill core obtained this year from the CH-55, CH-56 and CH-58 kimberlites and reverse circulation drill cuttings from the CH-57 kimberlite will be analyzed for diamonds by caustic fusion at the Saskatchewan Research Council Geoanalytical Laboratories. Results of the analyses are expected in the third quarter.

DRILL HOLE DATA FROM THE CH-55, CH-56, CH-57 and CH-58 KIMBERLITES

Kimberlite,
Drill Hole #

Azimuth

Inclination
from
Horizontal

Water/Ice
(m)

Overburden
(m)

Kimberlite Intercepts (m)

End of
Hole (m)

From

To

Intercept

True Width
of Intercept*

CH-55 #1

114

-45

0

9

51.0

159.0

108.0

76.4

185

CH-55 #2

114

-60

0

6

77.5

206.0

128.5

64.3

246











CH-56 #1

150

-49

6

0

42.0

43.0

1.0

0.66

236

71.1

209.4

138.3

90.7











CH-57 #1

90

-60

0

13

23.0

44.0

21.0

10.5

44











CH-58 #1

180

-45

0

7.5

39.0

106.5

67.5

47.7

138