Peregrine discovers more kimberlites at Chidliak – the new Canadian diamond district

This entry was posted by Thursday, 16 September, 2010
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Peregrine Diamonds Ltd. reports the discovery of 12 new kimberlites and the successful completion of the summer exploration programme at the Chidliak project on Baffin Island, Nunavut, Canada. Previous posts:  These 12 new discoveries bring the total number of kimberlites discovered to date on the Project to 50, of which 34 have been discovered in 2010. Eight of the new kimberlites were discovered by reverse circulation (“RC”) drilling, one by core drilling and three by prospecting. In addition, 11 core holes and ten RC holes were drilled into six previously identified kimberlites to increase the understanding of their size and diamond potential.

Seven of the kimberlites discovered to date are likely to be greater than one hectare in size based on drill data and ground geophysical signatures. Highlighting the probability for large kimberlites and associated tonnage at Chidliak is CH-31, where interpretation of the geophysical and drill data and the distribution of kimberlite float indicate that this kimberlite is over five hectares in size. A 410 metre kimberlite intersection was drilled at CH-31 in a core hole inclined at a 45 degree angle, which equates to an estimated horizontal width of at least 290 metres.

Mr. Eric Friedland, Peregrine’s CEO, said “We continued to discover kimberlites at an unprecedented rate at Chidliak this summer, averaging one kimberlite discovery every two and a half days. This new Canadian diamond district now stretches approximately 70 kilometres in a north-south direction and 40 kilometres east-west and we are confident that Chidliak hosts additional kimberlites with economic diamond potential. There are currently over 300 kimberlite-type geophysical anomalies within the existing airborne geophysical coverage to be evaluated beginning next field season. Also, two kimberlites were discovered this year on our adjacent, 100%-owned Qilaq project, further expanding this phenomenal diamond exploration region.”

Mr. Brooke Clements, Peregrine’s President, said “The discovery of 34 new kimberlites this year by our team at Chidliak further illustrates the very strong exploration potential of this diamond district. We are looking forward to a steady stream of diamond results over the coming months as we prepare for an ambitious 2011 exploration programme. The RC drill rig is perfect for rapidly testing kimberlite targets, and it will be an important exploration tool in future programmes. A very important milestone achieved this year was the discovery of several larger kimberlites with geophysical characteristics that differ from those of the majority of the known kimberlites. The confirmed presence of larger kimberlite bodies and the excellent potential for additional large-scale discoveries further heightens the economic upside of this Project.”

An exploration summary showing several of the new kimberlite discoveries is available at the following link

Eight new Kimberlites Discovered by RC Drilling
The lightweight RC drill rig, which began operating in early August, has proven to be an efficient exploration tool for rapidly testing geophysical anomalies. The primary objective of this year’s RC drilling campaign was to drill-test as many kimberlite-type geophysical anomalies as possible in a short time period, and to obtain material for a preliminary assessment of the diamond potential of any new kimberlites discovered. The CH-39, CH-40, CH-42 through CH-46 and CH-48 kimberlites were discovered in August and September and 24 anomalies were drilled without intersecting kimberlite. For each of the eight RC discoveries, at least one hole was drilled into the kimberlite with a minimum intercept length of 16 metres, providing sufficient kimberlite chips to complete diamond analysis by caustic fusion at the SRC. The RC discoveries will be evaluated using a core rig next year if diamond results warrant.

CH-41 Kimberlite Discovered by Core Drilling
The CH-41 kimberlite was discovered by drilling a magnetic high geophysical anomaly with an estimated surface expression of 0.5 hectares as determined by ground geophysics. Two inclined holes were drilled across the kimberlite from the same setup and magmatic kimberlite was encountered.

Three New Kimberlites Discovered by Prospecting
The CH-47 kimberlite was discovered when abundant kimberlite float was found on the shore of a small circular lake hosting an isolated, circular magnetic high anomaly with an estimated surface expression of one hectare as determined by ground geophysics. The kimberlite is highly altered but contains olivine macrocrysts and country rock xenoliths.

On September 12, the CH-50 kimberlite was discovered when abundant magmatic kimberlite float was found along a north-south trending magnetic high linear feature in an area of anomalous kimberlite indicator mineral (“KIM”) samples.

Following is a summary of the major accomplishments in the 2010 Chidliak exploration programme:

  • Airborne Geophysics. Extensions to the existing 11,700 line kilometre 2008 aeromagnetic survey totalled 20,587 line kilometres.
  • Ground Geophysics. Approximately 1,800 line kilometres of ground geophysical surveys were completed over approximately 100 geophysical anomalies.
  • Prospecting. 112 geophysical anomalies were evaluated by prospecting, resulting in the discovery of 15 kimberlites.
  • Indicator Mineral Sampling. 404 KIM samples were collected.
  • Mini-bulk Sampling. Mini-bulk samples of approximately 50 and 15 tonnes, respectively, were collected from the CH-7 and CH-6 kimberlites.
  • Core Drilling. A total of 7,672 metres was drilled in 48 holes. Eleven new kimberlites were discovered, 19 holes were drilled into known kimberlites and eight anomalies were drilled without intersecting kimberlite.
  • RC Drilling. A total of 1,507 metres was drilled in 50 holes in 35 days. Thirty-four new anomalies were drilled, eight new kimberlites were discovered and RC drilling was completed on five known kimberlites.
  • Environmental Baseline Study. The second year of work on an environmental baseline study was completed and a weather station was commissioned.
  • Personnel. From mid-March to mid-June, 15 to 25 employees and contractors were on site at Chidliak at any given time, increasing to an average of 40 to 48 people between mid-June and early September.

Peregrine and BHP Billiton have begun planning for the 2011 exploration programme at Chidliak. At this time the partners expect that the 2011 programme will be at least of a similar scale to the 2010 programme with two principle objectives, the further investigation of kimberlites demonstrating economic potential and the continued rapid discovery of new kimberlites. Peregrine will be the operator of the 2011 exploration programme.

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