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Peregrine to Commence Chidliak Site Preparation for Diamond Production
Dec. 08, 2014 10:18AM PST
Diamond InvestingPeregrine Diamonds Ltd. (TSX:PGD) plans to advance its 100-percent-owned Chidliak diamond project to production in phases.
Peregrine Diamonds Ltd. (TSX:PGD) plans to advance its 100-percent-owned Chidliak diamond project to production in phases. The Chidiliak project is located 120 kilometers northeast of Iqaluit, the capital of Nunavut, Canada.
As quoted in the press release:
The Company’s objective is to advance the Project to diamond production in phases, with the first phase of development centered on CH-6, CH-7 and CH-44 (‘the Phase One Kimberlites’), three of at least eight kimberlite pipes at Chidliak known to have economic potential. Commencing in 2016, Peregrine plans to confirm additional diamond resources in other kimberlites with economic potential. To date 71 kimberlites have been discovered at Chidliak, 42 of which are diamondiferous. Diamond testing has been deferred on 24 kimberlites. Peregrine is optimistic that more kimberlite pipes will be discovered at Chidliak in the future.
Click here to read Peregrine Diamonds Ltd. (TSX:PGD) press release.
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