Canadian Mining Journal

News

DIAMONDS: Maiden CH-7 resource at Peregrine’s Chidliak tops 4M carats



NUNAVUT – Vancouver-based Peregrine Diamonds has released the maiden inferred resource estimate for the CH-7 kimberlite pipe at the Chidliak diamond project on Baffin Island.

The CH-7 pipe contains 4.23 million carats of diamonds in 4.99 million tonnes of kimberlite to a depth of 240 metres. The overall grade is 0.85 ct/tonne. The estimate was made using a diamond price of US$114 per carat with modeled price range between US$94 and US$155.

Tom Peregoodoff, Peregrine’s president and CEO said, “The resource we are announcing today is the culmination of the 2015 diamond resource development program at Chidliak. This program has successfully defined a significant Inferred mineral resource of over 15 million carats at Chidliak contained within the CH-6 and CH-7 kimberlites in the top 260 metres and 240 metres respectively and both which, importantly, remain open vertically at depth. This resource provides a firm foundation upon which the preliminary economic assessment of a Phase 1 Diamond Mine will be developed.”

The PEA is being prepared by JDS with input from SRK Consulting Canada. Completion is expected later this month.

Please visit www.PDiam.com.


Print this page

Related Posts



Have your say:

Your email address will not be published. Required fields are marked *

*