VANCOUVER – Peregrine Diamonds has transferred two diamond properties to its new, wholly owned subsidiary Peregrine Exploration. The properties are the Lac de Gas project in the Northwest Territories and the Nanuq/Nanuq North properties in Nunavut.
The Lac des Gras property hosts the DO-27 kimberlite, with a surface expression of 9.0 ha and an indicated resource of 18.2 million ct in 19.5 million tonnes of kimberlite at a grade of 0.94 ct per tonne. It is open at depth. The next drilling program will include 50 small diameter reverse circulation holes.
Four diamondiferous kimberlites have been discovered at the Nanuq and Nanuq North properties, and they are considered to have excellent exploration potential.
The parent company has also granted Peregrine Exploration an exclusive licence to use its extensive North American diamond exploration database, including more than 38,000 kimberlite indicator mineral samples collected throughout Canada over a 10-year period. The database includes information acquired from BHP Billiton in 2012 when Peregrine acquired its interest in the Chidliak project.
Peregrine Diamonds is planning a diamond resource development program this year at Chidliak. Grade estimates will be confirmed, and parcels from the CH-6, CH-7 and CH-44 kimberlite pipes will be sent for valuation.
More details are available at Pdiam.com.