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RAPAPORT... Peregrine Diamonds Ltd. plans to confirm additional diamond resources next year on its Chidliak project in Nunavut, Canada, across other kimberlites that offer economic potential. The focus of the first phase of development has been centered on CH-6, CH-7 and CH-44, representing three of at least eight kimberlite pipes at Chidliak known to have economic potential. So far, 71 kimberlites have been discovered at Chidliak, 42 of which are diamondiferous, according to the explorer. Diamond testing has been deferred on 24 kimberlites. Peregrine is optimistic that more kimberlite pipes will be discovered at Chidliak in the future. The work programs completed in 2014 and ongoing in 2015 were designed to confirm diamond resources in the first phase and once confirmed, these resources would form the foundation of an independent, NI 43-101-compliant, Preliminary Economic Assessment to be completed in 2016.
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