Peregrine Reports Inferred Resource of 7.47 Million Carats for CH-6 Kimberlite

Peregrine Diamonds Ltd. (TSX:PGD) announced estimates for a maiden independent NI 43-101 compliant inferred mineral resource for the top 250 meters of the CH-6 kimberlite pipe at its Nunavut-based Chidliak project.

The company also said it has completed tonnage estimates for the CH-7 and CH-44 kimberlites. It plans to complete further exploration there, as well as at CH-6.

Highlights include:

• An Inferred Mineral Resource of 7.47 million carats of diamonds in 2.89 million tonnes of kimberlite to a depth of 250 metres
• Grade of 2.58 carats per tonne
• An average diamond price of US$213 per carat and a modelled price range between US$163 and US$236 per carat as determined by WWW International Diamond Consultants in February 2014
• An estimate of 2.60 to 3.47 million tonnes of kimberlite classified as a target for further exploration
• The kimberlite is open at depth

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