Photo: Peregrine reports promising drill season

“Extremely pleased.” That’s what Peregrine Diamonds Ltd.’s president and CEO said Aug. 23 of the three diamond drill holes the company drilled this past summer at its Chidliak diamond project, 120 kilometres from Iqaluit. The drilling produced sections of kimberlite like the one pictured here from an earlier drill season. Kimberlite is a mineral, often found in cylinder-shaped structures, produced by volcanic activity within the earth’s crust millions of years ago, that sometimes contain diamonds. Peregrine Diamonds, a Vancouver-based company, has been prospecting the Chidliak area since 2003, to identify those ancient kimberlite pipes. In 2017, Peregrine Diamonds planned to spend between $15.5 and $17 million developing the Chidliak site and conducting additional bulk sampling and pre-feasibility studies. (FILE PHOTO)