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Diamond & Specialty Minerals Summary for June 6, 2022

2022-06-06 21:00 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score was a poor 71-116-123 as the TSX Venture Exchange dipped one point to 718. Star Diamond Corp. (DIAM) added two cents to 30 cents on 965,000 shares.

Patrick Power and Buddy Doyle's energetic Lac de Gras diamond explorer, Arctic Star Exploration Corp. (ADD) closed unchanged at 11 cents on 610,000 shares. The company is cheering the discovery of a new kimberlite, Arbutus, at its Diagras project, just northeast of Diavik on the northeastern side of Lac de Gras. The company says that the new find, named after a pretty but messy oceanside tree in B.C., is about 200 metres long and perhaps 25 metres wide based on geophysics and the two holes just drilled into the irregular body.

Although it appears small, Mr. Power, Arctic Star's president and chief executive officer, and Mr. Doyle, his long-time vice-president of exploration, are enthused by Arbutus, based on indicator mineral data, and to a lesser extent, its location. Arbutus presents a distinct magnetic low -- so much for only testing the non-magnetic anomalies -- near the Finlay pipe, a 1990s discovery by De Beers Canada.

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