Tuesday, September 13, 2011

Peregrine Diamonds: Field Work at Chidliak Finished for the Year

This year’s field work at the Chidliak Diamond Project on Baffin Island in Nunavut, Canada, has been successfully completed, Peregrine Diamonds announced this week.

One major objective of the program was to continue the detailed exploration of kimberlites with economic potential in preparation for bulk sampling, which aims to extract roughly 200-carat diamond parcels per kimberlite to support independent diamond valuations. The bulk sampling program is scheduled to launch next winter.

Another objective this past season was to find new kimberlites, and with the recent discovery of CH-59, nine kimberlites were discovered this year bringing the current number of known kimberlites at Chidliak to 59.

New microdiamond results from CH-7 and CH-28 confirm previously reported coarse diamond size distributions, while the CH-17, CH-51 and CH-55 kimberlites all yielded commercial-size diamonds. Diamond results from 10 kimberlites are expected in the coming months.

“Our goal is to deliver the first diamond mine on Baffin Island,” said Peregrine CEO Eric Friedland.

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