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Diamond & Specialty Minerals Summary for Nov. 21, 2024

2024-11-21 17:20 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Thursday was a dreary 71-94-145 as the TSX Venture Exchange added two points to 599. Mathieu Stephens's NeoTerrex Minerals Inc. (NTX) closed unchanged at 9.5 cents on 1,000 shares. Drilling is now under way at the company's Valour project, about 100 kilometres west of Chibougamau in northwestern Quebec. The effort is a "1,500-metre maiden drill program ... in the gold and critical minerals-rich Abitibi [district]," the company cheers.

Mr. Stephens, president and chief executive officer, does not say which of those metals it is pursuing -- these days, a hungry junior promotion will aim at everything and bag whatever it can hit -- although NeoTerrex did say its targets coincide with electromagnetic responses and anomalous copper identified in grab samples. (Anomalous translates to "more than nothing, but nowhere close to qualifying as low-grade results.")

There was nothing anomalous about the jargon Mr. Stephens offered in support of the program. Beyond the geophysics and the faint whiff of copper, he cheers that the area "also features regional geological attributes favorable for mineralization, including volcanic and sedimentary rock units, a major unconformity, a significant fold axis, and a young intrusive body to the southeast." (There is no further word about that comely young body intruding ever so pleasantly into the company's pitch, but it appears to be dioritic in nature.)

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