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Diamond & Specialty Minerals Summary for Nov. 22, 2021

2021-11-22 18:45 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Monday was a dismal 63-124-113 as the TSX Venture Exchange slumped 26 points to 966 while polished diamond prices rose 0.1 per cent. Far Resources Ltd. (FAT) fell four cents to 20 cents on 8.58 million shares. A dissident bid for control of the company continues to ramp up.

Laura Lee Duffett's Tres-Or Resources Ltd. (TRS) lost one cent to nine cents on 21,000 shares. The company wrapped up its latest drill program at its big Guigues kimberlite in northwestern Quebec, just northeast of Lac Temiscamingue. The company completed its planned five vertical or nearly vertical drill holes, each to depths of 300 metres. All five encountered kimberlite at shallow depths, ranging from 33 to 51 metres, and four of them remained in kimberlite at termination. (The fifth passed into country rock at 262 metres, near the bottom of the hole.)

The first two holes were drilled from a site in the northern part of the pipe, a third from a south-central location and the final two holes were drilled into the southern part of Guigues. The company did not say precisely where it set the rigs, but Guigues spans about 500 metres from north to south and from 100 to 200 metres from east to west, enough that the company pegs its surface area at between 4.6 to seven hectares. Such a size, say six hectares, and the apparent near-vertical slope to its walls could allow for a potential 30 million tonnes of kimberlite in the multiphased pipe.

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