NR dated May 14, 2015 NR dated May 14, 2015 Mr. Tom Peregoodoff, President and CEO of Peregrine stated “The successful collection of the bulk sample from the CH-7 kimberlite will enable Peregrine to determine the grade and diamond value and this information would be used to declare an Inferred Resource for this kimberlite. We believe that a PEA based on Inferred Resources at CH-6 and CH-7 will demonstrate that there is potential for Chidliak to be developed into Baffin Island’s first diamond mine.
CH-6 is one of the highest grade kimberlites in the world with an Inferred Resource of 8.57 million carats in 3.32 million tonnes of kimberlite. With an actual diamond value of US$213 per carat based on a 1,013 carat parcel of diamonds, this pipe alone has tremendous potential for development. The winter of 2015 was difficult for operations, and credit should be given to the Peregrine team and its contractors for completing this year’s bulk sample program under challenging weather conditions.”
CH-7 BULK SAMPLE SUMMARY The CH-7 bulk sample was collected by large diameter RC drilling (up to 26 inch/66 cm diameter holes). A total of 1,212.1 metres was drilled in six holes resulting in the collection of
653 bags of kimberlite weighing a total of
558.5 wet tonnes after screening on a shaker table with a 1.18 mm square mesh screen. Sample weights suitable for use in resource definition will be determined using moisture content, calculated drill hole volume based on caliper data and kimberlite specific gravity data. Table 1 provides a summary of the drilling.
A total of 576 sample bags has already been transported to Iqaluit. Peregrine plans to transport the 77 bags remaining on site to Iqaluit primarily by fixed wing aircraft (yes cudjo, AFTER MAY 14, 2015 - OMG – surely..... everybody must have died. Oh noooo!!!.........). The bulk sample bags are securely stored in Iqaluit and will be shipped for processing and diamond recovery to the Saskatchewan Research Council in Saskatoon (“SRC”). Peregrine is currently reviewing options for air transport of a portion of the bulk sample to the SRC to enable earlier commencement of processing.
https://www.pdiam.com/news/news-releases/peregrine-announces-completion-of-rc-drilling-portion-of-2015-diamond-resource-development-program-at-chidliak cudjo’s lies can only mean 1 of 1 thing.