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| March 20, 2014 --- Vol. 08, No. 12 | March 2014
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Nunavut
DIAMONDS – Peregrine Diamonds Ltd. Mar. 18 reported the start of the 2014 exploration and diamond resource definition program at its Chidliak diamond project on Baffin Island, Nunavut. The primary objective of the C$7 million program will be to advance three to five kimberlites that demonstrate economic potential to the bulk sample stage and to begin logistical preparations for a 2015 bulk sampling program. A bulk sample that was collected from CH-6 in 2013 has confirmed the economic potential of this kimberlite. Two additional kimberlites, CH-7 and CH-44, have had sufficient diamond testing to be ready for bulk sampling in 2015. Reverse circulation grid drilling, scheduled to begin in April, will be completed over several kimberlites with economic potential, including CH-6, CH-7 and CH-44. Data from this program will be used to accurately map the overburden depth and prepare for future trenching programs. A minimum of 2,500 meters of core drilling, scheduled to begin in early July, will test key kimberlites including CH-6, CH-7 and CH-44. Results from the core drilling, including microdiamond analyses and geologic models, will be incorporated into the final design of the 2015 bulk sampling program. A large diameter RC drill rig specifically designed for Chidliak, and supporting supplies and equipment is scheduled to be mobilized to Iqaluit by sealift in September in preparation for 2015 bulk sampling. Peregrine said the objective of the 2015 bulk sampling will be to confirm sufficient diamond resources to enable commencement of a pre-feasibility study for Baffin Island’s first diamond mine. The company’s 2014 kimberlite generation program will include ground geophysics; RC drilling of priority targets; at least 1,500 meters of core drilling on high priority targets; and prospecting of roughly 20 targets. The 2014 program is expected to be completed in September.
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