Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
VANCOUVER, BRITISH COLUMBIA–(Marketwire – Jan. 18, 2012) – Peregrine Diamonds Ltd. (TSX:PGD) (“Peregrine” or “the Company”) is pleased to report new microdiamond results from the CH-31 and CH-59 kimberlites on the 8,580 square kilometre Chidliak project (“Chidliak” or “the Project”), Baffin Island, Nunavut, Canada. A cumulative 4.12 tonne sample collected by core drilling from CH-31 in 2010 and 2011 yielded 610 diamonds larger than the 0.106 mm sieve size, including 12 commercial-size diamonds larger than the 0.850 mm sieve size, which weigh a total of 0.29 carats. Including the 840 kilogram sample collected from CH-31 in 2010, a cumulative sample of 4.96 tonnes processed for diamonds by caustic fusion has returned 1.68 carats of commercial-size diamonds for a diamond content of 0.34 carats per tonne (“cpt”). In addition, a 219.6 kilogram sample of reverse circulation (“RC”) cuttings collected from CH-59 in 2011 yielded 451 diamonds larger than the 0.106 mm sieve size, including three commercial-size diamonds weighing 0.045 carats.
