Peregrine Diamonds Ltd. PGDIF

RE:RE:RE:RE:RE:RE:PGD Drill NR Sept 21st 2017

[ekim]

PGD is using very carefully crafted wording in their news releases.

From today -- "The program achieved the drilling objectives of the 2017 work program, as outlined in a June 19, 2017 news release."

From June 19th -- "The main objective is to increase the depth of a categorized resource from 260 metres to 500 metres."

So that implies that they think they have a categorized resource down to 500 metres.

But what does categorized resource mean? Obviously, measured, indicated, inferred is a categorized resource....but is TFFE a categorized resource in what PGD is trying to say here.

They have been careful in using this type of terminology..instead of using the inferred resource label itself.

...and then their is this from today's news release.

"Finally, the completed 2017 drilling and sampling of kimberlite material deeper than 260 metres below surface, currently classified as a Target for Further Exploration, could provide additional significant uplift to contained carats as we look to announce an increased diamond resource later this year.”"

...again careful not to use the inferred label.

at the very least...it doesn't look like there are any red flags in the drill data. I suspect further core drilling will be on the menu for the upcoming winter program. If that winter program happens...or gets skipped again.

LONG...PGD

EKIM