Welcome!

News Feed Item

Peregrine Provides Chidliak Update and Announces Discovery of Three New Kimberlites

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 09/09/13 -- Peregrine Diamonds Ltd. ("Peregrine" or "the Company") (TSX:PGD) is pleased to provide an update on activities at its 100 percent-owned Chidliak project ("Chidliak" or "the Project"), located on Baffin Island, 120 kilometres from Iqaluit, the capital of Nunavut, Canada. The Chidliak summer exploration program operated by De Beers Canada Inc. ("De Beers") was completed on August 19. Highlights from this program include the discovery by De Beers of two new kimberlites and the discovery of a kimberlite dyke by government geologists. In addition, possible kimberlite float, which is undergoing final petrographic confirmation by De Beers, was found in numerous other locations. As reported on April 23 and June 5, 2013, Peregrine collected a bulk sample weighing approximately 508 wet tonnes from the CH-6 kimberlite by surface trenching. Approximately 470 wet tonnes of this sample has been transported from Iqaluit to the De Beers dense media separation ("DMS") facility in Sudbury, Ontario. Approximately ten wet tonnes of kimberlite was processed at the Saskatchewan Research Council ("the SRC") in July and the approximately 28 wet tonnes of kimberlite material that remains in Iqaluit will be shipped to Sudbury this month. Processing of approximately 250 wet tonnes of the bulk sample by DMS is scheduled to commence in late September at the De Beers DMS facility. This processing will be performed by De Beers and is expected to yield a heavy mineral concentrate weighing approximately 1.8 dry tonnes. Final diamond recovery from this concentrate will be managed by Peregrine and will be undertaken at the SRC. The final diamond recovery process will be initiated upon De Beers delivering to the Company notice of their decision regarding their right to enter into an earn-in and joint venture agreement for Chidliak.

The De Beers summer exploration program at Chidliak included the evaluation of priority geophysical anomalies by prospecting, orientation geophysical surveys, and bedrock and surficial mapping. During the course of the program, De Beers field teams discovered two new kimberlite occurrences and numerous occurrences of possible kimberlite float requiring additional work before being confirmed. The first confirmed discovery is a kimberlite dyke approximately one metre wide associated with a circular magnetic anomaly with an estimated surface expression from ground magnetics of approximately 0.5 hectares. At the second site, kimberlite float was found associated with a circular geophysical anomaly that has an estimated surface expression from airborne magnetics of approximately 0.5 hectares. Concurrent with the De Beers Chidliak exploration program, the Canada Nunavut Geoscience Office ("CNGO") conducted a bedrock and surficial mapping program over a portion of the Hall Peninsula of Baffin Island. During the course of their fieldwork, the CNGO reported the discovery of a new kimberlite dyke on the Project. In total three new confirmed kimberlites have been discovered in 2013 bringing the total number of kimberlites at Chidliak to 64.

De Beers completed ground geophysical orientation surveys over twelve known kimberlites using the following methods: gravity, electromagnetics, ground penetrating radar and magnetics. The results from these surveys will be used to determine the most effective geophysical technique for discovering additional kimberlites in future exploration programs. To date initial results from the gravity surveys have been reviewed by Peregrine and indicate that most of the known kimberlites that were surveyed have a strong gravity response. Prior to this year, no gravity surveys had been executed on the Project. Peregrine believes that gravity could play a key role in future kimberlite discoveries at Chidliak. A complete summary of the summer exploration program, including confirmation of additional kimberlite discoveries, and results from the other geophysical surveys will be provided after all information from the program has been evaluated by Peregrine.

Approximately 470 wet tonnes of CH-6 bulk sample material is now stored at the De Beers DMS facility in Sudbury, Ontario. De Beers will commence processing approximately 250 wet tonnes of this material in late September, monitored by a Qualified Person designated by Peregrine. Final diamond recovery at the SRC, which will also be monitored by a Qualified Person designated by Peregrine, will commence after De Beers provides Peregrine notice of their decision regarding their right to enter into an earn-in and joint venture agreement for Chidliak. Final results, including independent diamond valuations, are expected early in the second quarter of 2014. Peregrine's objective is to utilize these results, together with geologic and diamond content information acquired from core drill programs in 2009, 2010 and 2011, to develop a preliminary revenue model and establish an intial resource for CH-6. The remainder of the bulk sample will be processed at a later date. The DMS processing and diamond recovery costs for the 250 tonne sample will be credited to De Beers' earn-in should they exercise their option to enter into a joint venture with Peregrine for Chidliak. In the event De Beers elects not to exercise their option, Peregrine is not required to reimburse them for these costs.

In order to optimize the flow sheet for DMS processing of the CH-6 bulk sample, ten wet tonnes of kimberlite material were processed by DMS at the SRC in July. Howard Coopersmith, Peregrine's external Qualified Person for sample processing and diamond recovery stated, "The CH-6 sample material processed very well and we expect no processing problems and optimum diamond liberation". The concentrate that resulted from the processing of this sample is securely stored at the SRC and will be combined with the concentrate that will be produced at the De Beers DMS facility in Sudbury from the initial 250 tonne sample. All the concentrate will undergo final diamond recovery at the SRC which will be monitored by Peregrine.

Mr. Alan O'Connor, Professional Geologist, Peregrine's Chidliak Project Manager, is a Qualified Person under National Instrument 43-101 and is responsible for the design and conduct of the programs carried out by the Company at Chidliak, including the collection of the CH-6 bulk sample. Mr. Howard Coopersmith, an independent consultant to the diamond industry, is Peregrine's external Qualified Person for sample processing and diamond recovery.

Messrs. O'Connor and Coopersmith have reviewed this release and approve of its contents.

ABOUT PEREGRINE DIAMONDS

Peregrine is a diamond exploration and development company focused on Canada's North. The Company has discovered two new diamond districts in Nunavut, Nanuq in 2007 and Chidliak in 2008. At its 100 percent-owned Chidliak project, located 120 kilometres from Iqaluit, the capital of Nunavut, 64 kimberlites have been discovered to date, and Peregrine collected a bulk sample weighing 508 wet tonnes from the CH-6 kimberlite in 2013. A 14.11 tonne sample of drill core acquired from CH-6 in 2010 returned a grade of 2.84 carats per tonne. The Project is subject to an option agreement with De Beers whereby De Beers has the exclusive right until December 31, 2013 to enter into an earn-in and joint venture agreement for Chidliak on a 50.1 percent De Beers / 49.9 percent Peregrine, basis. At its 72 percent-owned, nine hectare DO-27 kimberlite in the Northwest Territories, located 27 kilometres from the Diavik Diamond Mine, a NI 43-101 compliant mineral resource of 18.2 million carats of diamonds in 19.5 million tonnes of kimberlite at a grade of 0.94 carats per tonne, which is open at depth, was confirmed in 2008. Peregrine also continues to evaluate earlier stage diamond exploration projects it controls in Nunavut and the Northwest Territories and through comprehensive evaluation of its extensive and proprietary diamond exploration databases, is working towards discovering new diamond districts in North America. A key asset being utilized in Peregrine's search for a new Canadian diamond district is a proprietary database acquired from BHP Billiton that contains data from approximately 38,000 kimberlite indicator mineral samples covering an area of Canada of approximately three million square kilometres.

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 exercise of the option to joint venture by De Beers, 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 exercise of the option to joint venture by De Beers, 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 Company's activities, delays in obtaining or failure to obtain required project approvals, operational and infrastructure risk 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.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Redis is not only the fastest database, but it is the most popular among the new wave of databases running in containers. Redis speeds up just about every data interaction between your users or operational systems. In his session at 19th Cloud Expo, Dave Nielsen, Developer Advocate, Redis Labs, will share the functions and data structures used to solve everyday use cases that are driving Redis' popularity.
I wanted to gather all of my Internet of Things (IOT) blogs into a single blog (that I could later use with my University of San Francisco (USF) Big Data “MBA” course). However as I started to pull these blogs together, I realized that my IOT discussion lacked a vision; it lacked an end point towards which an organization could drive their IOT envisioning, proof of value, app dev, data engineering and data science efforts. And I think that the IOT end point is really quite simple…
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 19th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world and ThingsExpo Silicon Valley Call for Papers is now open.
You think you know what’s in your data. But do you? Most organizations are now aware of the business intelligence represented by their data. Data science stands to take this to a level you never thought of – literally. The techniques of data science, when used with the capabilities of Big Data technologies, can make connections you had not yet imagined, helping you discover new insights and ask new questions of your data. In his session at @ThingsExpo, Sarbjit Sarkaria, data science team lead ...
"My role is working with customers, helping them go through this digital transformation. I spend a lot of time talking to banks, big industries, manufacturers working through how they are integrating and transforming their IT platforms and moving them forward," explained William Morrish, General Manager Product Sales at Interoute, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
To leverage Continuous Delivery, enterprises must consider impacts that span functional silos, as well as applications that touch older, slower moving components. Managing the many dependencies can cause slowdowns. See how to achieve continuous delivery in the enterprise.
WebRTC is bringing significant change to the communications landscape that will bridge the worlds of web and telephony, making the Internet the new standard for communications. Cloud9 took the road less traveled and used WebRTC to create a downloadable enterprise-grade communications platform that is changing the communication dynamic in the financial sector. In his session at @ThingsExpo, Leo Papadopoulos, CTO of Cloud9, discussed the importance of WebRTC and how it enables companies to focus...
Up until last year, enterprises that were looking into cloud services usually undertook a long-term pilot with one of the large cloud providers, running test and dev workloads in the cloud. With cloud’s transition to mainstream adoption in 2015, and with enterprises migrating more and more workloads into the cloud and in between public and private environments, the single-provider approach must be revisited. In his session at 18th Cloud Expo, Yoav Mor, multi-cloud solution evangelist at Cloudy...
Aspose.Total for .NET is the most complete package of all file format APIs for .NET as offered by Aspose. It empowers developers to create, edit, render, print and convert between a wide range of popular document formats within any .NET, C#, ASP.NET and VB.NET applications. Aspose compiles all .NET APIs on a daily basis to ensure that it contains the most up to date versions of each of Aspose .NET APIs. If a new .NET API or a new version of existing APIs is released during the subscription peri...
Security, data privacy, reliability, and regulatory compliance are critical factors when evaluating whether to move business applications from in-house, client-hosted environments to a cloud platform. Quality assurance plays a vital role in ensuring that the appropriate level of risk assessment, verification, and validation takes place to ensure business continuity during the migration to a new cloud platform.
SYS-CON Events announced today that 910Telecom will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Housed in the classic Denver Gas & Electric Building, 910 15th St., 910Telecom is a carrier-neutral telecom hotel located in the heart of Denver. Adjacent to CenturyLink, AT&T, and Denver Main, 910Telecom offers connectivity to all major carriers, Internet service providers, Internet backbones and ...
Ovum, a leading technology analyst firm, has published an in-depth report, Ovum Decision Matrix: Selecting a DevOps Release Management Solution, 2016–17. The report focuses on the automation aspects of DevOps, Release Management and compares solutions from the leading vendors.
Continuous testing helps bridge the gap between developing quickly and maintaining high quality products. But to implement continuous testing, CTOs must take a strategic approach to building a testing infrastructure and toolset that empowers their team to move fast. Download our guide to laying the groundwork for a scalable continuous testing strategy.
Adding public cloud resources to an existing application can be a daunting process. The tools that you currently use to manage the software and hardware outside the cloud aren’t always the best tools to efficiently grow into the cloud. All of the major configuration management tools have cloud orchestration plugins that can be leveraged, but there are also cloud-native tools that can dramatically improve the efficiency of managing your application lifecycle. In his session at 18th Cloud Expo, ...
SYS-CON Events announced today that LeaseWeb USA, a cloud Infrastructure-as-a-Service (IaaS) provider, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. LeaseWeb is one of the world's largest hosting brands. The company helps customers define, develop and deploy IT infrastructure tailored to their exact business needs, by combining various kinds cloud solutions.