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Sep 14, 2009
Peregrine Diamonds Ltd. (“Peregrine” or “the Company”) is pleased to report the discovery of seven additional kimberlites on the 9,800 square kilometre Chidliak project (“Chidliak” or “the Project”), located approximately 120 kilometres northeast of Iqaluit on Baffin Island, Nunavut, Canada. Five of the seven kimberlites were discovered by drilling geophysical anomalies (CH-10, CH-13, CH-14, CH-15 and CH-16). The CH-11 and CH-12 kimberlites were discovered at surface while prospecting geophysical anomalies.The field portion of the 2009 Chidliak exploration programme is now complete. Between July 3 and September 8, thirteen new kimberlites were discovered at Chidliak, seven by drilling and six by prospecting and mapping, bringing the total number of kimberlites discovered to date on the Project to sixteen. Other notable accomplishments in this year’s field programme include:
• the collection of a 50 tonne mini-bulk sample from an outcrop at the CH-1 kimberlite and transportation of the sample to Iqaluit
• core drilling at CH-1
• in addition to the 13 new kimberlites, the discovery of kimberlite float at five locations by prospecting; three of the five float discoveries are associated with compelling geophysical anomalies
• the collection of 1273 indicator mineral samples
• the assessment of 58 geophysical anomalies by prospecting and geochemical sampling
• the completion of over 1,100 line kilometres of ground geophysical surveys
• the completion of an initial environmental baseline study
Kimberlite samples collected from the new discoveries are currently being processed for microdiamonds at the Saskatchewan Research Council Geoanalytical Laboratories (“SRC”). The first microdiamond results from the 2009 programme will be received this month and on a regular basis thereafter. Results for the 50 tonne sample collected from CH-1 are expected in the fourth quarter of this year.
All of the 16 presently known kimberlites and four of the five kimberlite float occurrences that have yet to be definitively linked to a kimberlite source fall within a rectangular area with dimensions of approximately 30 kilometres east-west and 17 kilometres north-south. Brooke Clements, President of Peregrine stated “We are very encouraged by the rate at which kimberlites are being discovered at Chidliak. During this summer’s field season, in only 68 days, our crew averaged one new kimberlite discovery every five days. In addition, the presence of both kimberlite indicator minerals with diamond inclusion chemistry and untested high priority kimberlite-type geophysical anomalies both within and well outside of the area where kimberlites were discovered in the 2008 and 2009 programmes, indicates that there is excellent potential for the discovery of many more diamondiferous kimberlites at Chidliak.”
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