Peregrine Diamonds Ltd. PGDIF

RE:backin up the truck,lol

[xDeBeers]

The diamonds are more concentrated at the surface due to weathering. Kimberlite is a soft rock and it breaks down quickly. It gets washed and blown away and the heavy diamonds stay behind and are concentrated near the surface. In glaciated environments there is less concentration because the last glacial events strip away the concentrated diamonds. This does however make kimberlites easier to find in glacial environments since the indicator minerals are dispersed more widely and linearly.

In South Africa the De Beers Marsfontein dike ran at 3000 carats per hundred tone. Diamond concentration/enrichment is more pronounced in thick regolith (soil). Unfortuneately the Marsfontein dike was <10 meteres wide.

Timber creek in Australia was also Thousands of carats per hundred tonne due to entrichment at the surface, but alas the diamonds where dirty brown and the kimberlite the size of your dining table.

So I would expect the near surface bulk sample to have better results than statistically expected.
Also factor in that the management could sample the parts of the kimberlite (facies) that are richer and more likely to get a share price that triggers their share options.

My target for the bulk sample results is $5. I'll explain how I got to this after we punch through $2. I find it interesting Gauwd that you also mentioned "5 bucks".