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Diamond & Specialty Minerals Summary for May 25, 2023

2023-05-25 20:44 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Thursday was a poor 66-112-132 as the TSX Venture Exchange fell three points to 609. Silence is not golden in the diamond sector. Ewan Mason's Star Diamond Corp. (DIAM) closed unchanged at eight cents on 47,000 shares as the wait goes on for word of an agreement between the company and its reluctant co-venturer at FalCon, in central Saskatchewan.

Grant Mourre's SPC Nickel Corp. (SPC) lost one cent to 9.5 cents on 537,000 shares on word it has drilled a 20-metre interval averaging 1.71 per cent nickel at its West Graham project in the Sudbury district of Northeastern Ontario -- a hit all the more encouraging because it has an estimated true width of about 15 metres. Earlier, SPC had enthused about a 20-metre interval grading nearly 2.5 per cent nickel, but that hit spanned an estimated true width of just seven metres.

More assays from this first phase of drilling are pending: SPC drilled 27 holes spanning over 5,300 metres in that program and it has results from 16 of them, so 11 are apparently still back at the lab. No matter, Mr. Mourre, president and chief executive officer, is already applauding the not-yet-completed program as a "resounding success," with intersections of wide zones of nickel and copper at grades equal to or better than the grade of the historical West Graham resource.

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