Peregrine Diamonds Ltd. (TSX:PGD) has completed its analysis of the Chidliak project.
As quoted in the press release:
This review was prompted by the Company’s opportunity to increase its interest in the Project to 100% by acquiring BHP Billiton’s 51% interest, as announced on December 20, 2011. Planned work under the 2012 program will consist of three components: continued execution of bulk sample related activities, continued pre-bulk sample delineation drilling on key kimberlites, and ongoing exploration to discover more diamondiferous kimberlites.
Peregrine’s CEO, Eric Friedland said:
Working with the local communities, we are committed to develop Baffin Island’s first diamond mine as rapidly as possible in a safe and environmentally sensitive manner. The first significant step towards this goal is the initial bulk sampling of key kimberlites to obtain diamond parcels for valuation.