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Peregrine Diamonds Ltd. PGDIF

"Peregrine Diamonds Ltd is a diamond exploration and development company with interests in diamond exploration properties located at Nunavut and the Northwest Territories in Canada and The Republic of Botswana."


GREY:PGDIF - Post by User

Bullboard Posts
Comment by Durkastanon Sep 10, 2010 9:15am
446 Views
Post# 17433130

RE: season end

RE: season endThere's no way that they're getting to all of those anomalies this year... I think you misunderstood their capabilities. They actually mentioned 442 kimberlite-type geophysical anomalies, not 300, in their July 19 release.

Their helicopter-borne RC drill was stated to be capable of drilling 1 new target a day. It's probable, due to weather and other circumstances beyond their control, that they did not get a target every single day. The heli-drill was mobilized sometime in late July. That means that they've drilled at most 40 targets since then, but probably more like 25-30.

Of course there are 2 other land-based drills as well; however, as you can imagine, they are probably not drilling a new target every single day. Getting around the tundra between targets with heavy equipment and no infrastructure to speak of would not be overly speedy.

There are also teams walking around and investigating targets via prospecting by hand, where those targets have seen their overburden weathered enough to directly expose the kimberlite.

In other news, Father Winter is already starting to eye Baffin Island. Here's a link to the weather in the region:

https://www.theweathernetwork.com/weather/canu0014

As you can see, temperatures are already starting to dip below zero (celsius) at night, and there's even a day of rain/snow mix forecasted for Sunday. I suspect that we're probably going to hear news declaring the end of the 2010 drilling season within a week, or two weeks if we're lucky.
Bullboard Posts