Vancouver's Peregrine Diamonds Ltd. (TSX:PGD) saw its share price soar 104% to $1.82 during mid-day trading Monday after the company announced it had recovered large diamonds from its exploration property on Baffin Island.
A 400-kilogram drill core sample of kimberlite, which often contains diamonds, produced 2,730 diamonds larger than 0.075 mm, including 131 diamonds larger than 0.60 mm.
Peregrine CEO Eric Friedland said in a release the company believes the microdiamond counts from the samples are some of the best results in the history of Canadian diamond exploration.
The largest diamond recovered was a 0.62 carat white, transparent aggregate.
The company also recovered 49 diamonds larger than 0.075 mm from a 424-kilogram surface sample from the 9,800-square-kilometre Chidliak project.
Peregrine's share price during the last week ranged between $0.63 and $0.89; 52-week high: $0.89; 52-week low: $0.225.