Vancouver – A two-phase drilling program operated by Peregrine Diamonds (PGD-V) is testing the Tli Kwi Cho (DO-27) kimberlite, part of the WO diamond project in the Lac de Gras region of Canada’s Northwest Territories.
Peregrine holds a 54.47% interest in the property, as well as marketing rights to 92.65% of potential diamond production. The remaining interests in the project are held by various underlying owners, including DHK Diamonds, a private company.
The initial core-drilling program now under way at the WO project is aimed at collecting geological and technical information in advance of the large-diameter bulk-sampling drilling expected to start shortly.
The WO project covers nine known kimberlites, with the largest being the 9-hectare Tli Kwi Cho pipe. The pipe was bulk-sampled in the 1990s by previous operators, with disappointing results. Subsequent analysis showed that the program did not test the main vent of the pipe, which convinced Peregrine and its partners that the pipe might be higher grade than the initial bulk-sampling results suggested.
This theory was supported by Peregrine’s work program in 2005, which included a 151-tonne, mini-bulk sample that revealed an average grade of 0.98 carats per tonne from five of six holes drilled. A sixth hole returned an average grade of 0.7 carats per tonne.
Peregrine notes that these grades compare favorably with reported data from the nearby Ekati diamond mine, where five pipes during the feasibility stage were reported to have an average grade of 1.09 carats per tonne, with an average value of US$84 per carat.
The value of diamonds collected from the 2005 mini-bulk sample at Tli Kwi Cho ranged from US$53 to US$67 per carat. These represent the average of producer sales, and are not based on modeled valuations.
Peregrine is awaiting results from seven core holes drilled to test the DO-18 pipe, also part of the WO project, and is testing other projects in the general Lac de Gras region.
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