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 Altar is a large porphyry copper deposit located in San Juan Province, a mining-friendly jurisdiction of Argentina. An independent NI-43-101 Preliminary Resource Estimate for Altar has been completed outlining a Measured and Indicated Resource of 251 million tonnes grading 0.52% copper containing 2.87 billion pounds of copper plus an Inferred Resource of 244 million tonnes grading 0.54% copper containing 2.93 billion pounds of copper (both at a 0.4% copper cut-off grade). The resource is open to expansion laterally and to depth and is expected to increase with future continued drilling. The above global resource includes a higher-grade component of copper mineralization of 104 million tonnes grading 0.63% copper (Measured and Indicated) plus 105 million tonnes grading 0.67% copper (Inferred), both at a 0.5% copper cut-off grade. A significant proportion of this higher grade resource is comprised of high-level chalcocite-covellite copper enrichment mineralization potentially extractable by open pit mining. Preliminary metallurgical test-work showed that the high-grade chalcocite-covellite copper mineralization leached well and is a good candidate for a heap leach operation, with recoveries averaging 81% of total copper and over 90% of readily soluble copper in just 55 days. Acid consumption for a commercial leaching operation was estimated at a modest 13 to 15 kilograms per tonne. The immediate focus at Altar is completion of a Preliminary Economic Assessment on a potential solvent-extraction/electrowinning (SXEW) copper leaching operation by the end of 2010, while at the same time continuing to outline and define the large global copper resource that remains open in all directions and to depth. For example, ALD-43, the deepest core hole drilled to date at Altar (929 metres) returned 719 metres averaging 0.72% copper, including the top 82 metres of the mineralization that averaged 0.97% copper, and a 322 metres intersection at depth that averaged 0.90% copper. The hole was extended in 2010 to 1,010 metres with an 81 metre intersection of 0.56% copper at the bottom of the hole, while remaining open at depth. The first 2010 core drill programme has now concluded and resulted in 76 holes and 26,396 m drilled. The drilling is expected to better define the current resource and has provided additional material for column leach metallurgical testing that commenced during the second quarter. To view the latest exploration update and assay results reported on August 3, 2010 and selected previous results, click here | |  Aug 03, 2010 Peregrine Drills 178 Metres Of 0.57% Cu Including ... Jul 08, 2010 Peregrine Announces Encouraging Comminution Test R... Jun 30, 2010 Financial Statements & Technical Reports Financial Statements Jun 24, 2010 Peregrine Drills 56 Metres Of 1.20% Cu, 92 Metres ... Jun 10, 2010 Peregrine Drills 191 Metres Of 0.96% Cu And 117 Me... Jun 02, 2010 Peregrine Drills 112 Metres Of 1.54% Cu And 86 Met... May 11, 2010 Peregrine Provides Updates on the Field Programme ... | |
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| PEREGRINE METALS LTD. 201-1250 Homer Street, Vancouver, B.C., Canada, V6B 1C6 | | (604) 669-8800 - phone (604) 408-8881 - facsimile  | |