Tax sponsored Geology work

Recently, the Canadian government put a tender out to build a turnkey  camp to be used by up to 16 personnel for the summer of 2015.

Why? (highlighted in bold)

"Prime Minister Stephen Harper announced on August 22nd 2013 renewed support of $100 million over seven years (2013-2020) for the Geo-mapping for Energy and Minerals (GEM) program. The objective of GEM is to advance geological knowledge in the North to support increased natural resource exploration and inform land-use decision making in a way that balances conservation and responsible resource development."

What and where are they spending some of these $$'s?

The Geological Survey of Canada (part of NRCan) wishes to conduct geological mapping and research, from mid-June to mid-August 2015 over large region spanning an area north of Iqaluit and west of the Hamlet of Pangnirtung, Nunavut. Mapping will be conducted by a team of 16 people (geologists and support personnel) based out of Iqaluit from June 22nd to July 6th and out of a proposed temporary field camp located approximately 160km north of Iqaluit from July 6th to August 17th 2015.

How does this effect Peregrine Diamonds and Chidliak?

Back in 2013, this happened:

" Concurrent with the De Beers Chidliak exploration program, the Canada Nunavut Geoscience Office ("CNGO") conducted a bedrock and surficial mapping program over a portion of the Hall Peninsula of Baffin Island. During the course of their fieldwork, the CNGO reported the discovery of a new kimberlite dyke on the Project"

Chidliak had a new kimberlite dyke added to the fold from a government sponsored program and Peregrine Diamonds did not have to spend a cent. They probably did help logistically with the government team.

With the program for this summer, it is a bit NorthWest of Chidliak, yet Peregrine Diamonds is in the best position of any company in the world to take advantage of any results that come out of the study.

This is basically free (government sponsored...so tax payers are on the hook) geology work for Peregrine Diamonds. Intent is to help expand the geology knowledge and if a company like Peregrine Diamonds were created a mine in the area, that would generate tax revenue $$'s and in the mean time, if they do find something, Peregrine Diamonds could spend exploration $$'s...which also adds to the local economy.

Good news for Peregrine Diamonds and the ever expanding data set they hold.