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Diamond & Specialty Minerals Summary for May 14, 2021

2021-05-14 18:03 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Friday was an enthusiastic 135-64-101 as the TSX Venture Exchange rose 23 points to 931. Defense Metals Corp. (DEFN), which is offering $5-million of stock at 32 cents, added 1.5 cents to 30.5 cents on 2.62 million shares today.

The hits keep coming for Patrick Power's Arctic Star Exploration Corp. (ADD) at its Diagras project, just northeast of Diavik and east of Ekati at Lac de Gras in the Northwest Territories. The company has drilled its fourth kimberlite of the spring on the project, this one near Penelope, another of the original kimberlite finds made over two decades ago by De Beers Canada at what it called its Hardy Lake project.

The new kimberlite, called Cedar in keeping with the company's trend to name its barren-land kimberlites after trees, tested an electromagnetic anomaly 150 metres south of Penelope. The drill entered kimberlite at a depth of 31 metres and the angled hole was still in kimberlite at a depth of 67 metres. As well, Arctic Star revealed that the drill at its third discovery, Alder, remained in kimberlite from a depth of 19 metres until it exited the side of the pipe at a depth of 193 metres -- an encouraging result for a hole drilled at a 60-degree angle.

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