Peregrine identifies zone with high diamond counts in Nunavut

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Peregrine Diamonds Ltd. has announced the report of the final caustic fusion diamond results from the 2014 Diamond Resource Development Program at Peregrine’s 100 per cent-owned Chidliak diamond project in Nunavut, Canada.

The Saskatchewan Research Council Geoanalytical Laboratories performed caustic fusion analyses on representative drill core from the four kimberlite pipes that lie within the Southern Priority Area. Peregrine has been focused on this area since 2012.

New results show that CH-7 contains a new geologic domain with some of the highest total diamond counts defined to date at Chidliak.

According to Tom Peregoodoff, Peregrine’s President and CEO, “The new results from our 2014 Diamond Resource Development Program show that there is tremendous potential to add significant carats to Chidliak. Our work in 2014 added over one million carats to our Inferred Resource at CH-6, an increase of 15%. The new results from CH-7 define a previously unknown geological domain that has the potential to exceed the resource grade of 2.58 carats per tonne (“cpt”) established at CH-6. The 2015 Diamond Resource Development Program has now commenced and is designed to confirm the grade estimates and provide diamond parcels to enable valuations for the key kimberlite pipes that will be included in a planned 2016 Preliminary Economic Assessment on a potential Phase 1 diamond mine development at Chidliak.” CJ

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