Peregrine Exploration is also given access to the company’s North American diamond exploration database.

The nine hectare DO-27 kimberlite at Lac de Gras project is said to host an indicated mineral resource of 18.2 million carats of diamonds and remain open at depth, while the Nanuq and Nanuq North have four diamondiferous kimberlites and good exploration potential, the company said.

The diamond exploration database comprises information from more than 38,000 kimberlite indicator mineral samples collected across Canada over a ten year period.

Peregrine Exploration and Peregrine Diamonds executive chairman Eric Friedland said: "Following the strategic review we reported February 12, 2015, the transactions announced today are the first step towards ensuring that we capture maximum value for Peregrine Diamond’s non-Chidliak assets."

In February, the company said that the decision to transfer the assets will allow it to focus on advancing Chidliak, while achieving maximum value from Peregrine’s non-Chidliak assets.