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Diamond & Specialty Minerals Summary for Feb. 23, 2021

2021-02-23 20:40 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Tuesday was a dismal 45-168-87 as the TSX Venture Exchange slumped 43 points to 1,039, while polished diamond prices were flat. Grenville Thomas and Ken Armstrong's North Arrow Minerals Inc. (NAR), unchanged at 11.5 cents on 112,000 shares, have begun a mid-winter exploration program at its Loki project, near the southern shore of Lac de Gras in the Northwest Territories. The key part of the program is a magnetic surveying planned for the northern part of Loki, seeking drill targets that could explain an encouraging and as yet unsourced kimberlite indicator mineral train in that area.

The work follows a brief program last fall, in which North Arrow completed ground gravity surveying over targets on the northern parts of Loki, focusing on previously identified priority magnetic and topographic targets. At that time, Mr. Armstrong, president and chief executive officer, was a bit more talkative about the company's rationale. He said that the area now being considered is closer to, and in line with, the up-ice termination of a series of anomalous till samples that produced promising mineral chemistry in the form of pyrope and eclogitic garnets that came from a mantle area favourable for diamonds.

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