Peregrine Diamonds Completes DES Botswana Purchase

(IDEX Online News) – Peregrine Diamonds Ltd. has completed its purchase of all the shares of Diamexstrat Botswana (Proprietary) Ltd. (DES Botswana), a privately held Botswana-registered diamond exploration and development company, from Diamond Exploration Strategies Limited.

DES Botswana's primary assets are eight prospective diamond prospecting licences that cover 5,746 km2 in Botswana. The planned 2015 Botswana diamond exploration program includes drill testing of four priority kimberlite targets.

“Working with the principals of DES Botswana, Peregrine has put together a cost-effective and focused exploration program for 2015,” said Peregrine president and CEO Tom Peregoodoff.

“Peregrine's VP of Technical Services, Dr. Grütter, and the DES Botswana team have done a tremendous job in using our extensive and proprietary Botswana database to identify high priority targets in this mature diamond-producing terrain. The work program will commence in July and the drilling is expected to commence in September."

The planned 2015 diamond exploration program will focus on target drilling, further target generation and ground truthing.

The target generation will focus on the Gope area, which hosts the recently commissioned Ghaghoo mine operated by Gem Diamonds, and the Nata area, which lies along a prolific Cretaceous kimberlite emplacement corridor that includes the Ghaghoo, Orapa, Lethlakane, Karowe and Damtshaa diamond mines, and a number of other diamond-bearing kimberlites.