Peregrine Diamonds is revising the inferred mineral resource for the CH-6 kimberlite at its Chidliak Diamond Project.
The company says tonnage has increased by 40 per cent from 3.32 million to 4.64 million tonnes. Further, carats contained in the kimberlite has risen by 33 per cent to 11.39 million carats from 8.57 million. The revised resource includes a newly identified zone estimated to contain 3.15 million carats in 0.76 million tonnes, for an estimated grade of 4.16 carats per tonne.
Peregrine says additional tonnage classified as a target for further exploration of 2.34 to 3.75 million tonnes has also been identified to a depth of 380 m at CH-6.
“When we planned the 2015 resource development program for the CH-6 kimberlite, the challenge was to design a cost-effective program that would make a material difference to the Chidliak project,” said Peregrine president and CEO Tom Peregoodoff.
“With a simple two-hole program and additional microdiamond sampling of existing core, we have exceeded the targeted resource expansions we initially envisaged. The 33 per cent uplift in the CH-6 diamond resource should have a positive material impact on the outcome of the preliminary economic assessment (PEA). Work continues on the maiden inferred mineral resource for the CH-7 kimberlite and I look forward to its completion in early May and its incorporation into the PEA.”
