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Diamond & Specialty Minerals Summary for Sept. 12, 2023

2023-09-12 20:45 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Tuesday was a weak 69-99-142 as the TSX Venture Exchange fell four points to 576. Dr. Michael Gunning's VR Resources Ltd. (VRR) rose 5.5 cents to 20.5 cents on 2.43 million shares. The company has been quiet of late, but it teased the market today with the diamond counts from the first of three holes it drilled into the Northway kimberlite in Northern Ontario.

Dr. Gunning, president and chief executive officer, did not say how large the sample was, but it was just a small portion of the rock the company recovered from the pipe. The count was one -- a single stone -- but VR Resources cheered the find as a fragment of a larger diamond, one that was clear, colourless and free of inclusions. Dr. Gunning was predictably enthused: "Northway is fertile," he gushed applauding the characteristics of the find, noting that it came from the pyroclastic mudstone crater facies at the top of the breccia pipe, presumably whetting the market for what is to come.

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