Peregrine Diamonds discovers three diamond formations at Chidliak project

Peregrine Diamonds Ltd., a minerals and precious gems explorer, has discovered three new diamond formations at its Chidliak project in northern Canada, reports suggest. The project is a joint effort between Peregrine Diamonds owning 49 percent stake and BHP Billiton Ltd. owning 51 percent stake.

The results of the discoveries at Chidliak are expected in the third quarter this year.

In its operations since the beginning of this year until April 2011, the company has discovered eight kimberlites, reports add.