Peregrine Completes Analysis of Chidilak Diamond Project

Peregrine Diamonds Ltd. (TSX:PGD) has completed its analysis of the Chidliak project.

As quoted in the press release:

This review was prompted by the Company’s opportunity to increase its interest in the Project to 100% by acquiring BHP Billiton’s 51% interest, as announced on December 20, 2011. Planned work under the 2012 program will consist of three components: continued execution of bulk sample related activities, continued pre-bulk sample delineation drilling on key kimberlites, and ongoing exploration to discover more diamondiferous kimberlites.

Peregrine’s CEO, Eric Friedland said:

Working with the local communities, we are committed to develop Baffin Island’s first diamond mine as rapidly as possible in a safe and environmentally sensitive manner. The first significant step towards this goal is the initial bulk sampling of key kimberlites to obtain diamond parcels for valuation.

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