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Diamond & Specialty Minerals Summary for June 20, 2022

2022-06-20 17:41 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Monday was a positive 97-81-132 as the TSX Venture Exchange rose one point to 641. Patrick Power's Arctic Star Exploration Corp. (ADD) added one-half cent to eight cents on 110,000 shares.

The company has wrapped up its spring drill program at Diagras, a multimillion-dollar effort that accomplished much but not all the company hoped to get done, as a result of bad weather -- bad in the sense that on one hand, the drillers were left sheltering from raging blizzards earlier in the year, and then because they had to bug out early as the ice melted from under their feet in unusually warm weather at the end of the season.

Mr. Power, president and chief executive officer, says that the Sequoia kimberlite received six of the planned nine drill holes. While the company still does not have a total weight for the 504 metres of kimberlite intersected, the mathematics suggests a dry weight of just over 3.8 tonnes for the latest Sequoia program. That will help flesh out the size distribution profile for the pipe, but not to the extent he and his crew likely hoped, as the original expectation was for "several" -- not "barely a few" -- tonnes of the diamond-bearing rock.

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