A resource update has brought the combined inferred resource of just two of seventy-four known kimberlites to 22 million carats at Peregrine Diamonds‘ (TSX: PGD) Chidliak project in the Canadian Arctic.
“This result absolutely has positioned Chidliak in the Canadian development context as the next cab off the rank,” Peregrine’s president and CEO Tom Peregoodoff, tells The Northern Miner in an interview from Vancouver. “It really does set Chidliak apart from the other advanced exploration and development projects in Canada, and likely even globally.”
The junior diamond exploration company increased the inferred resource of its high grade CH-6 kimberlite to 17.96 million carats in 7.46 million tonnes at an average grade of 2.41 carats per tonne.
The resource, which extends to 525 metres below surface, contains a higher grade portion of 1.29 million tonnes at an average grade of 4.49 carats per tonne for 5.80 million carats.
When combined with the 4.23 million carats in 4.99 million inferred tonnes already on the books for its CH-7 kimberlite, Peregrine has a lot to be pleased about, Peregoodoff says, including the greater depth of the CH-6 resource.
Continue reading at The Northern Miner.