Monday, September 9, 2013

Summer Program Discovers Three New Kimberlites at Chidliak

Peregrine Diamonds Ltd. reported that its Chidliak summer exploration program, operated by De Beers Canada Inc.,  was completed on August 19 and included the discovery of  two new kimberlites and a  possible kimberlite float, which is undergoing final petrographic confirmation. Concurrently,  the Canada Nunavut Geoscience Office conducted a bedrock and surface mapping program over a portion of the Hall Peninsula of Baffin Island. During the course of their fieldwork, they reported the discovery of a new kimberlite dyke. In total, three new confirmed kimberlites have been discovered in 2013 bringing the total number of kimberlites at Chidliak to 64.
Earlier this year, Peregrine collected a bulk sample weighing approximately 508 wet tonnes from the CH-6 kimberlite by surface trenching. Approximately 470 wet tonnes of this sample has been transported from Iqaluit, Nunavut to the De Beers dense media separation facility in Sudbury, Ontario. Approximately 10 wet tonnes of kimberlite was processed at the Saskatchewan Research Council in July and the approximately 28 wet tonnes of kimberlite material that remains in Iqaluit will be shipped to Sudbury this month. Processing of approximately 250 wet tonnes of the bulk sample is scheduled to commence in late September at De Beers and is expected to yield a heavy mineral concentrate weighing approximately 1.8 dry tonnes. Final diamond recovery from this concentrate will be managed by Peregrine.
During this summer program, De Beers completed ground geophysical orientation surveys over 12 known kimberlites using  gravity, electromagnetics, ground penetrating radar and magnetics. The results from these surveys will be used to determine the most effective geophysical technique for discovering additional kimberlites in future exploration programs.
Peregrine's objective is to utilize results from the program, together with geologic and diamond content information acquired from core drill programs in 2009, 2010 and 2011, to develop a preliminary revenue model and establish an initial resource for CH-6. The remainder of the bulk sample will be processed at a later date.
Howard Coopersmith, Peregrine's external qualified person for sample processing and diamond recovery, stated, "The CH-6 sample material processed very well and we expect no processing problems and optimum diamond liberation."


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