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Precious gems discovered by Peregrine Diamonds could soon be used in diamond jewellery.

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.
 

Peregrine Diamonds has found 12 new sites potentially containing diamonds during a summer exploration programme at its Chidliak project in Nunavut, Canada.

More Canadian diamonds could soon be making their way on to the market after one mining firm revealed it has discovered 12 new kimberlites at its Chidliak project site on Baffin Island, Nunavut.

Peregrine Diamonds said the latest find – which occurred during an exploration programme run throughout the summer – takes the total number of kimberlites at Chidliak to 50.

The type of rock is known for often containing the precious stones and president of Peregrine Brooke Clements said the firm anticipates "a steady stream of diamond results over the coming months".

Chief executive officer Eric Friedland added the finds were unearthed at a rate of one kimberlite every two-and-a-half days.

Seven of those discovered so far are expected to be in excess of one hectare in size and Mr Friedland stated the business is "confident that Chidliak hosts additional kimberlites with economic diamond potential".

Chidliak is one of two new diamond districts the enterprise has discovered since 2007, with the other being Nanuq in the eastern Arctic region of the country.