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by Will Purcell

The diamond and specialty minerals stocks box score for Wednesday was a mediocre 72-85-153 as the TSX Venture Exchange fell one point to 653. Garrett Ainsworth's District Metals Corp. (DMX) rose 4.5 cents to 33 cents on 772,000 shares Tuesday on word of a resource estimate for its Viken energy metals deposit in central Sweden. The calculation lists 456 million tonnes indicated at 175 parts per million of uranium oxide and 2,836 ppm vanadium oxide, along with modest amounts of base metals and rare earth oxides. Another -- hold on to your hats -- 4.33 billion tonnes are inferred at slightly lesser grades.

In all, Viken hosts over 1.7 billion pounds of uranium oxide and 26.75 billion pounds of vanadium oxide. The mammoth tonnages translate to huge amounts of metal even for the trace commodities. The nickel content for instance is barely 320 ppm, but Viken hosts 3.4 billion pounds of it -- a gross value of nearly $250-million (U.S.). Meanwhile, the deposit has a gross value of roughly $1-billion (U.S.) for the contained uranium oxide and about $1.5-billion (U.S.) for the vanadium oxide.

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