Miner Peregrine Diamonds announced Sunday that has discovered kimberlite indicator minerals ("KIM") and precious metal anomalies at its Qilaq Project on Baffin Island, Nunavut, Canada.



According to a company statement quoted by Market Watch, seven of the samples collected in 2009 at Qilaq returned probe-confirmed kimberlite indicator minerals, including one sample that returned 405 KIMs, all of which were angular, which is an indication of a proximal kimberlite source. In addition, eight samples returned at least 10 gold grains, and one sample returned 350 gold grains.



Peregrine Diamonds has subsequently acquired a prospecting permit for 1.5 million hectares on Baffin Island.