Jul 25 2014
Peregrine Diamonds Ltd. ("Peregrine" or "the Company") is pleased to announce the filing of a Canadian National Instrument ("NI") 43-101 technical report ("the Technical Report") entitled "Lac de Gras Project Northwest Territories Canada NI-43-101 Technical Report" effective July 15, 2014 for its 15,810 hectare Lac de Gras project ("the Project"), located approximately 300 kilometres north-northeast of Yellowknife in the Northwest Territories of Canada.
The Technical Report is an update to a report dated August 7, 2008 and revised January 9, 2009, that supports the 18.2 million carat Indicated Mineral Resource at the DO-27 kimberlite that was first reported on June 24, 2008. The Technical Report also summarizes exploration work completed on the Project since 2008 and is available on SEDAR and the Company's website.
The Project consists of 12 mineral leases and seven mineral claims with an aggregate area of 15,810 hectares. The leases and claims are held under the following three property arrangements: WO property (72.1% Peregrine, 17.6% Archon Minerals Ltd., 10.3% DHK Diamonds Inc.), LDG Thelon property (70.5% Peregrine, 29.5% Thelon Capital Ltd.) and the LDG Peregrine property (100% Peregrine). A total of nine kimberlites has been discovered to date on the Project: AD-02, DO-18, DO-27, DO-29N, DO-29S, DO-32, WO-09, LD-02 and LD-03. Two of the kimberlites were discovered by Peregrine and seven were discovered by previous operators. DO-27 hosts an Indicated Mineral Resource of 18.2 million carats of diamonds in 19.5 million tonnes of kimberlite at a grade of 0.94 carats per tonne and is open at depth and laterally. The diamondiferous LD-02 and LD-03 were discovered by Peregrine in 2012.
The Technical Report concludes that there are reasonable prospects for eventual economic extraction of the DO-27 kimberlite pipe. To date, no Preliminary Economic Assessment or equivalent study has been completed for the Project.
Peregrine is reviewing options, including commercial opportunities, to advance the Project.
The Technical Report was prepared by Dr. Ted Eggleston, Professional Geologist, and Mr. Ken Brisebois, Professional Engineer, both of AMEC E&C Services Inc. and Dr. Jennifer Pell, Professional Geoscientist and Peregrine's Chief Geoscientist and Qualified Person for information on the Lac de Gras and Chidliak projects. Messrs. Eggleston and Brisebois are Qualified Persons for the Lac de Gras project and are independent of Peregrine as defined by NI 43-101.
Dr. Eggleston, Mr. Brisebois and Dr. Pell have reviewed this release and approve of its contents.
Source: http://www.pdiam.com/