Peregrine Diamonds: Chidliak Joint Venture Approves $17.7 Million

Peregrine Diamonds Ltd. (TSX:PGD) reports that the Chidliak Joint Venture (Peregrine 49% and BHP Billiton 51%) has approved a $17.7 million 2011 exploration program.

The press release is quoted as saying:

Since 2008, 50 kimberlites have been discovered on the Project, with seven of these having characteristics consistent with economic potential in Arctic settings. Peregrine is the operator of the 2011 program and field work has commenced.

Click here to access the entire press release