🕐24.02.11 - 20:54 Uhr
Peregrine Announces Coarse Diamond Size Distribution in CH-20 Kimberlite Located
100 Metres from CH-6 at Chidliak
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Peregrine Announces Coarse Diamond Size Distribution in CH-20
Kimberlite Located 100 Metres from CH-6 at Chidliak
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Peregrine Diamonds Ltd.
("Peregrine" or "the Company") is pleased to
report a coarse diamond size distribution in a 74.4 kilogram sample
collected by core drilling from the CH-20 kimberlite located on the
8,580 square kilometre Chidliak project ("Chidliak" or "the Project"),
Baffin Island, Nunavut, Canada.
The sample yielded 96 diamonds larger
than the 0.106 mm sieve size, including two diamonds larger than the
0.850 mm sieve size which weigh a total of 0.036 carats.
CH-20 is
located approximately 100 metres north of the CH-6 kimberlite and 250
metres south of the CH-10 kimberlite.
As announced on December 6,
2010, a 14.11 tonne mini-bulk sample collected from CH-6 returned an
average grade of 2.84 carats per tonne.
As announced on November 12,
2009, a 111.4 kilogram sample collected from CH-10 yielded 152 diamonds
larger than the 0.075 mm sieve size including two stones larger than
the 0.600 mm sieve size.
The CH-20 and CH-10 kimberlites are represented by two of four magnetic
anomalies referred to as the String of Pearls that are aligned along a
600 metre trend in a north-northwest direction from CH-6.
Two of these
magnetic anomalies and the associated structural trend have yet to be
drill tested.
The String of Pearls as well as other associated
magnetic low anomalies located several hundred metres to the east,
present an opportunity to discover significant additional kimberlite
tonnage in the vicinity of CH-6.
For an image showing the String of
Pearls and CH-6 see www.pdiam.com/i/pdf/Chidliak916.pdf.
CH-6 and the
String of Pearls, along with five additional diamondiferous kimberlites
with economic potential in Arctic settings, are located within an area
that has an eight kilometre radius, the Southern Focus Area.
The following table summarizes caustic fusion diamond results from the
CH-20 kimberlite.
The analyses were performed at the Saskatchewan
Research Council Geoanalytical Laboratories ("the SRC").
The two diamonds larger than the 0.850 mm sieve size were classified by
the SRC as being a 0.022 carat off-white, transparent, distorted
crystal and a 0.014 carat white/colourless, transparent
tetrahexahedron.
As reported on July 19, 2010, CH-20 was discovered by drilling an
inclined hole across a magnetic low anomaly, kimberlite was intersected
from a depth of 23 to 44 metres.
The kimberlite is described as being
olivine-rich, black macrocrystic kimberlite.
The SRC is an independent laboratory that is accredited by the
Standards Council of Canada to the ISO/IEC Guide 25 standard for
diamond recovery by caustic fusion.
The kimberlite samples were
collected, sealed in secure containers and shipped to the SRC under
strict chain of custody protocols supervised by senior Peregrine
personnel.
Chidliak is a joint venture between Peregrine (49%) and BHP Billiton
(51%).
Mr.
Peter Holmes, P.
Geo., Peregrines Vice President, Exploration, is
a Qualified Person under NI 43-101 and is responsible for the design
and conduct of the programmes carried out by the Company on the
Chidliak project.
Mr.
Holmes has reviewed this release and approves of
its contents.
For further information, please contact Mr.
Eric Friedland, CEO, Mr.
Brooke Clements, President, Mr.
Mike Westerlund, Vice President,
Investor Relations and Corporate Communications or Peregrine Diamonds
Investor Relations, at 604-408-8880 or at .
Forward-Looking Statements: This news release contains forward-looking
statements.
All statements, other than statements of historical fact,
that address activities, events or developments that the Company
believes, expects or anticipates will or may occur in the future
(including, without limitation, statements relating to the proposed
exploration programme, funding availability, anticipated exploration
results, resource estimates, and future exploration and operating
plans) are forward-looking statements.
These forward-looking
statements reflect the current expectations or beliefs of the Company
based on information currently available to the Company.
Forward-looking statements are subject to a number of risks and
uncertainties that may cause the actual results of the Company to
differ materially from those discussed in the forward-looking
statements and, even if such actual results are realized or
substantially realized, there can be no assurance that they will have
the expected consequences to, or effects on, the Company.
Factors that
could cause actual results or events to differ materially from current
expectations include, among other things, uncertainties relating to the
availability and cost of funds, timing and content of work programmes,
results of exploration activities, interpretation of drilling results
and other geological data, world diamond markets, future diamond
prices, reliability of mineral property titles, changes to regulations
affecting the Companys activities, delays in obtaining or failure to
obtain required project approvals, any changing budget priorities of
BHP Billiton, operational and infrastructure risks, and other risks
involved in the diamond exploration business.
Any forward-looking
statement speaks only as of the date on which it is made and, except as
may be required by applicable securities laws, the Company disclaims
any intent or obligation to update any forward-looking statement,
whether as a result of new information, future events or results or
otherwise.
Although the Company believes that the assumptions inherent
in the forward-looking statements are reasonable, forward-looking
statements are not guarantees of future performance and accordingly
undue reliance should not be put on such statements due to their
inherent uncertainty.
Associated File:
http://www.pdiam.com/i/pdf/2011-02-24_NR.pdf
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(PDL) All rights reserved.
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