The Peregrine announced option agreement with De Beers on 5 September 2012.
De Beers is funding and processing approximately 250 wet tonnes of the 508 tonne bulk sample collected from the Peregrine’s CH-6 kimberlite, since late September.
Additionally, De Beers is funding the subsequent diamond recovery at the Saskatchewan Research Council while final results including independent diamond valuations are scheduled in the first quarter of 2014.
In September, Peregrine’s 100% owned Chidliak project confirmed the discoveries of two new kimberlites and a kimberlite dyke by government geologists.
Peregrine aims to develop a preliminary revenue model and establish an initial resource for CH-6 by using these results along with geologic and diamond content information acquired from core drill programs in 2009, 2010 and 2011.
