Peregrine Diamonds Ltd.: CH-7 Mini-Bulk Sample Returns Diamonds

Peregrine Diamonds (TSX:PGD) reports that  a mini-bulk sample has returned diamonds of varying sizes, at its’ project in Baffin Island.

The press release is quoted as saying:

Peregrine Diamonds Ltd. is pleased to report that a mini-bulk sample of surface material collected from the CH-7 kimberlite weighing 47.2 dry tonnes returned 49.07 carats of commercial-sized diamonds larger than the 0.85 mm sieve size, for a diamond grade of 1.04 carats per tonne (“cpt”). The mini-bulk sample yielded 502 commercial-size diamonds, 15 of which weighed 0.50 carat or more, including three diamonds larger than one carat. The four largest diamonds weighed 6.53, 2.18, 1.24 and 0.98 carats.

Eric Friedland, CEO of the Company, says:

We are pleased to see a grade of one carat per tonne and a population of gem quality diamonds in this mini-bulk sample from CH-7, results that certainly justify a large bulk sample of this pipe and are another illustration of the excellent potential for Chidliak to host a diamond mine. We now have five kimberlites with economic potential in Arctic settings at Chidliak, and four of those are clustered within an area that has only an eight kilometre radius: CH-1, CH-6, CH-7 and CH-31. We hope to add to this growing list of potentially economic kimberlites as more microdiamond results from the 34 kimberlites discovered this year are received. As we await all the results from the 2010 exploration programme, including a 14 tonne sample collected from CH-6, we are completing our 2011 exploration strategy which will entail the further evaluation of known kimberlites with economic potential, including the planning for larger bulk samples, as well as the discovery of more diamondiferous pipes starting next March with the drilling of a number of compelling lake-based targets.”

To access the full release, click here.