Peregrine Reports 33% Increase in CH-6 Kimberlite Inferred Diamond Resource to 11.39 Million Carats

7 April 2016

NEW HIGH GRADE DOMAIN IDENTIFIED

April 7, 2016  PDF version
Peregrine Diamonds Ltd. (“Peregrine” or “the Company”) (TSX:PGD) is pleased to report the outcome of the 2015 Chidliak Resource Development Program for the CH-6 kimberlite pipe at the Company’s 100 percent owned Chidliak Diamond Project, Nunavut, Canada. The Inferred Mineral Resource estimated for the upper 260 metres of the CH-6 kimberlite pipe has increased substantively:

• Tonnage increased by 40 percent from 3.32 million to 4.64 million tonnes, and
• Contained carats increased by 33 percent from 8.57 million to 11.39 million carats.

The revised resource includes a newly identified zone which currently is estimated to contain 3.15 million carats in 0.76 million tonnes, for an estimated grade of 4.16 carats per tonne. Additional tonnage classified as a Target for Further Exploration (“TFFE”) of 2.34 to 3.75 million tonnes has also been identified to a depth of 380 metres below surface at CH-6.

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