Peregrine eyes more diamonds at Chidliak
Last updated 7/26/2015 at Noon
Peregrine Diamonds Ltd. said its 2015 field work is focused on continued expansion of the diamond resource at its Chidliak project, located 120 kilometers northeast of Iqaluit, capital of Nunavut.
A recently completed independent review by Mineral Services Canada Inc., Peregrine's external qualified person, has highlighted an approximate one-million-metric-ton resource expansion opportunity for the CH-6 kimberlite.
Both the resource expansion at CH-6 and the scale of a pending maiden resource declaration at CH-7 are contingent on the implementation of limited key additional evaluation work and the results from a CH-7 bulk sample.
To gather the needed data, Peregrine has budgeted C$3.75 million for a program that includes resampling existing core; 1,200 meters of new drilling; processing of a 558.5-metric-ton bulk sample from CH-7; calculate an updated resource for the CH-6 kimberlite; publish a maiden resource for the CH-7 kimberlite.