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Diamond & Specialty Minerals Summary for March 15, 2023

2023-03-15 20:49 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Wednesday was a horrid 44-141-125 as the TSX Venture Exchange slid 14 points to 596. Critical Elements Lithium Corp. (CRE) was one of several specialty minerals explorers having a rough day. It fell 22 cents to $2.35 on 2.69 million shares.

Paul Sobie's one-time Churchill Diamond Corp., which finally managed to go public as nickel-hunting Churchill Resources Inc. (CRI) in mid-2021, is not abandoning its diamond roots just yet. Churchill, down one-half cent to 5.5 cents on 232,000 shares today, has just exercised its option covering the White River diamond property in Northern Ontario -- although in doing so it also applauded the potential for nickel and lithium on the project, immediately west of the town of White River.

Mr. Sobie, chief executive officer, was "very pleased" to exercise the White River option, which he cheers as featuring "known diamond-bearing kimberlitic rocks in an extremely attractive setting." That setting, just south of the Trans-Canada Highway and between Marathon and White River, is an inexpensive area to operate and there are several dike swarms present, including kimberlitic dikes. (Despite Mr. Sobie's apparent pleasure and the low costs of working the area, Churchill's most recent diamond exploration is now six years in the past.)

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