Peregrine reports a 58% increase in Chidliak’s CH-6 kimberlite inferred diamond resource to 18 million carats

15 February 2018

Peregrine Diamonds Ltd. is pleased to report that the company’s successful 2017 resource development program has resulted in a substantial increase in the Inferred mineral resource at the high-grade CH-6 kimberlite pipe at Peregrine’s 100%-owned Chidliak Diamond Project, Nunavut, Canada. Drilling in 2017 delineated the high-grade CH-6 kimberlite pipe to a depth of 540 metres below surface and the kimberlite remains open below that depth. Key results include:
•CH-6 updated Inferred Mineral Resource of 17.96 million carats in 7.46 million tonnes to 525 mbs;
•Inferred Mineral Resource tonnage increased by 61% from 4.64 million to 7.46 million tonnes;
•CH-6 contained carats increased by 58% from 11.39 million to 17.96 million carats; 
•High-grade KIM-L domain with a grade of 4.49 carats per tonne (“cpt”) comprises 17% by volume of the updated CH-6 resource; and
•Total Phase One Diamond Development resource now exceeds 22 million carats.