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Diamond & Specialty Minerals Summary for May 21, 2024

2024-05-21 19:26 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Tuesday was an upbeat 104-86-120 as the TSX Venture Exchange rose five points to 620. Ewan Mason and George Read's Star Diamond Corp. (DIAM) closed unchanged at 7.5 cents on 1.05 million shares.

The company has its first blast of encouragement from Nelson Karun, its recently hired diamond specialist, who has been tasked with assessing the company's parcels of diamonds recovered during bulk sampling programs over the years at its Fort a la Corne project in central Saskatchewan. This first assessment covers the smallest of the three main parcels, one collected from a series of large diameter drilling programs on the Orion North cluster of kimberlites.

Mr. Karun modelled the diamond values from three main vents at Orion North, the K120, K147 and K148 pipes, so drearily denoted by De Beers Canada when it first worked the project in the early 1990s. He had 4,768 macrodiamonds weighing a total of 426.44 carats to peruse, most of them -- nearly 274 of the carats -- from Early Joli Fou (EJF) kimberlite in the K120 pipe. The parcel also held 70.9 carats taken from EJF-3 kimberlite in the two other pipes, and 81.6 carats from EJF-4 kimberlite in those same pipes.

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