Peregrine Diamonds Ltd. PGDIF

RE: RE: RE: RE: RE: 1.15 carat

[mjl777]

I'm long on PGD, but I wouldn't go overboard on the grade of CH-31. The microdiamond count from CH-31 wasn't exceptional (0.28 diamonds per kg. vs. 1.0 diamond per kg. industry "gold standard") and a single, 1.15 carat diamond (from a 201 kg. sample that lacked a distribution of sizes) drove the overall grade. CH-31 is significant because it suggests the presence of large tonnage diamond bearing kimberlites at Chidliak.

For comparative purposes, the first core sample (approx. 750 kgs.) from Daivik's A154 pipe returned 1.728 diamonds per kg. and 0.536 macro diamonds per kg. of sample (Note: If I recall correctly, macros where defined as diamonds with a width of at least 0.50 mm in one direction. This nomenclature no longer applies as there are new guidelines for reporting diamond exploration results). Although A154 was an exceptional pipe, it does help to frame the potential of CH-31 (but not Chidliak).

Long, but hoping for to see more Ch-6's and CH-7 like results.