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Diamond & Specialty Minerals Summary for May 2, 2024

2024-05-02 18:34 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Thursday was a positive 84-80-146 as the TSX Venture Exchange fell three points to 580. Diamond stocks continue to struggle, even those with still profitable mines. Lucara Diamond Corp.(LUC) is one of them, and today it closed unchanged at 35.5 cents on 106,000 shares.

J.C. St-Amour's Imagine Lithium Inc. (ILI) closed unchanged at four cents on 44,000 shares following word on Wednesday that it has drilled an 18.9-metre interval grading 1.02 per cent lithium oxide in the newly discovered Casino Royale zone on its Jackpot lithium project in the Georgia Lake district, 140 kilometres northeast of Thunder Bay in Northern Ontario.

Eight of nine holes returned mineralization and two others delivered noteworthy results. A second hole managed 1.15 per cent lithium oxide across 11.85 metres and a third delivered 0.96 per cent over a 13.25-metre stretch. Casino Royale runs east to west in an area about 500 metres north of the Jackpot Main zone, where Imagine Lithium has had most of its drill success. Last fall, for instance, the company cheered hits of up to 1.22 per cent lithium oxide across 14.35 metres.

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