Peregrine Diamonds has discovered a number of precious gems that could soon find their way into diamond engagement rings.
The firm has recovered an 840kg microdiamond sample from CH-31 – a kimberlite at the Chidliak project in Canada – including 223 gems larger than the 0.106mm sieve size.
Among the haul us a 1.15-carat diamond and Eric Friedland, chief executive of Peregrine, described the find as "very significant".
"CH-31, at five hectares, is the largest kimberlite discovered at Chidliak to date and the fifth kimberlite with economic potential in arctic settings," he explained.
Mr Friedland added the company is considering carrying out more exploration work at Ch-31 during 2011, including recovering a mini-bulk sample.
Peregrine has uncovered two new diamond districts in Canada since 2007 – Chidliak and Qilaq on southern Baffin Island and Banuq, located in the eastern Arctic region.
Although diamond searches are its primary focus, the company also looks? for metal deposits.