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RAPAPORT... Peregrine Diamonds Ltd. provided an update on its $10.5 million 2012 exploration program at the Chidliak diamond project in Nunavut, Canada. The summer field season began on July 1 and scheduled work this year includes definition core-drilling on the CH-1, CH-6, CH-7 and CH-44 kimberlites, prospecting of priority geophysical and indicator mineral anomalies, helicopter-portable reverse circulation drilling of high-priority kimberlite targets, and continued preparation for the planned collection of bulk samples. One new kimberlite has been discovered so far this season by prospecting, CH-60. In addition, four new and separate occurrences of kimberlite pebbles and cobbles have been found, suggesting the presence of yet to be discovered kimberlite bodies nearby. Brooke Clements, Peregrine's president, said, ''We made our first kimberlite discovery at Chidliak in July 2008 and it is gratifying that after four years of intensive exploration, we still continue to find new kimberlites and kimberlite float. This speaks to the tremendous exploration potential of this exceptional diamond project.''
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