Peregrine Diamonds Commences Lac de Gras Program

Peregrine Diamonds commenced a $1.5 million diamond exploration program in the Lac de Gras region of the Northwest Territories, Canada, approximately 300 kilometers northeast of Yellowknife. The program will include ground geophysical surveying and the drilling of high-priority kimberlite targets.

Peregrine DiamondsAs part of this new program, Peregrine Diamonds will re-value a 2,075-carat parcel of diamonds (pictured) that were previously recovered at its DO-27 kimberlite.

Currently eight geophysical targets between one and two hectares in size, with associated kimberlite indicator minerals, are drill-ready. Ground magnetic and electromagnetic geophysical surveys will be completed over 15 anomalies and additional priority drill targets that are expected to be defined by these surveys will also be tested. It is anticipated that drilling will be completed by early May.

The Lac de Gras projects consist of 51,000 hectares of claims owned by Peregrine. Another 36,400 hectares of claims form a joint venture with Thelon Capital Ltd., and 15,107 hectares, which includes the DO-27 kimberlite, is a joint venture between Peregrine, Archon Minerals Ltd. and DHK Diamonds Inc.

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