Peregrine Announces Caustic Fusion Diamond Results from Chidliak

Peregrine Diamonds Ltd. (TSX:PGD) announced the final caustic fusion diamond results from the 2014 diamond resource development program at its Chidliak diamond project in Nunavut.

As quoted in the press release:

Results have identified a new geologic domain within CH-7 that contains some of the highest total diamond counts defined to date at Chidliak. In addition, new results from CH-6 have further confirmed that the previously known coarse diamond distribution extends to depth in the expanded Inferred Mineral Resource. Finally, the latest results from CH-44 have extended the known coarse diamond distribution to 210 metres vertical depth.

Tom Peregoodoff, Peregrine’s president and CEO, stated:

The new results from our 2014 Diamond Resource Development Program show that there is tremendous potential to add significant carats to Chidliak. Our work in 2014 added over one million carats to our Inferred Resource at CH-6, an increase of 15%. The new results from CH-7 define a previously unknown geological domain that has the potential to exceed the resource grade of 2.58 carats per tonne (‘cpt’) established at CH-6. The 2015 Diamond Resource Development Program has now commenced and is designed to confirm the grade estimates and provide diamond parcels to enable valuations for the key kimberlite pipes that will be included in a planned 2016 Preliminary Economic Assessment on a potential Phase 1 diamond mine development at Chidliak.

Click here for the Peregrine Diamonds Ltd. (TSX:PGD) press release