Peregrine Diamonds Ltd. (TSX: T.PGD,) climbed 52

Peregrine Diamonds Ltd. ( TSX: T.PGD ,) climbed 52.4% to 64 cents on Tuesday as investors assessed the news the diamond miner’s 222.1 dry tonne bulk sample from the CH-6 kimberlite pipe on Peregrine's Chidliak project, located 120 kilometres from Iqaluit, the capital of Nunavut, returned a diamond grade of 2.70 carats per tonne. The resulting diamond parcel consisted of 600.5 carats of commercial-size (+0.85 mm) stones, including 48 diamonds over one carat in size and 137 diamonds over 0.50 carat in size, with the largest diamond weighing 3.54 carats. A very significant portion of the parcel is gem diamonds.  According to the press release, the CH-6 pipe is one of at least seven kimberlite pipes at Chidliak that are potentially economic. "This first batch of diamond results from our 2013 bulk sample establishes CH-6 as one of the highest grade kimberlites in the world,” said Eric Friedland, CEO. “The quality of the diamonds is excellent and we are looking forward to obtaining the first independent diamond value for CH-6 in early 2014, and to establish a resource later that year.”