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Peregrine Diamonds (TSX:PGD) reported that it has completed its 2015 field work program at its Chidliak project in Nunavut, Canada. Additionally, transportation of the 2015 CH-7 bulk sample from Iqaluit to Saskatoon has been completed.
Peregrine Diamonds (TSX:PGD) reported that it has completed its 2015 field work program at its Chidliak project in Nunavut, Canada. Additionally, transportation of the 2015 CH-7 bulk sample from Iqaluit to Saskatoon has been completed.
As quoted in the press release:
Dense Media Separation (“DMS”) processing of the 558.5 wet tonne sample at the Saskatchewan Research Council (“SRC”) will commence on September 14, 2015. The 2015 summer program was completed successfully approximately three weeks ahead of schedule. A total of 1,361 metres of core drilling was completed; 520 metres at CH-6 and 841 metres at CH-7. In addition, a total of 3,345 kilograms of kimberlite from CH-6 and CH-7 has been sampled and sent to the SRC for microdiamond analysis. Ongoing environmental base line studies were also completed.
The objective of the 2015 Chidliak Diamond Resource Development program is to define a resource base that would be the subject of a 2016 Preliminary Economic Assessment on a Phase 1 diamond mine. The 2015 program consists of a bulk sample of CH-7 (the 2015 Bulk Sample Program) and summer core drilling and microdiamond sampling (the Summer 2015 Program).
The company also provided a bulk sample update, as follows:
The 2015 bulk sample program consisted of six large-diameter drill holes drilled to a maximum depth of 240 metres at CH-7. Transportation of the 558.5 wet tonnes of screened CH-7 kimberlite to secure storage facilities at the SRC has been completed. The sample is currently being separated into processing batches and the DMS plant is going through cleaning and final preparation. The SRC advises that processing of KIM-5 bulk sample material will commence on September 14, 2015. The 2015 CH-7 bulk sample results will provide diamond grades for kimberlite units KIM-2, KIM-3, KIM-4 and KIM-5, as well as representative diamond parcels for independent valuation.
The Company expects processing of the CH-7 bulk sample to a concentrate to be complete on or before November 30, 2015, two weeks later than earlier guidance, due to adverse sea ice conditions which delayed transportation of the bulk sample from Iqaluit to Saskatoon by approximately one month. Final diamond recovery is expected by early January 2016 with initial diamond grade results being released shortly thereafter. Independent diamond valuation results are expected in the first quarter of 2016.