This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.
Here is a sample of this item:
by Will Purcell
The diamond and specialty minerals stocks box score for Monday was an 84-84-142 draw as the TSX Venture Exchange rose six points to 621. Ewan Mason's Star Diamond Corp. (DIAM) was unchanged at 9.5 cents on 86,000 shares today.
The kimberlite hits keep coming for Dr. Michael Gunning's VR Resources Ltd. (VRR) -- but will the diamonds follow is the question. The company caught investors unawares late last month with word it had gone back to drill a third hole into Northway, the huge magnetic target that looks to be an equally massive kimberlite pipe. The company had drilled a single hole on the southeastern fringe of the anomaly last fall, then went back this spring and drilled a second hole closer to the centre of the anomaly, hitting increasing amounts of kimberlite each time.
That was to be it for now -- at least until the company got a look at the diamond counts later this year -- but after moving the drill 15 kilometres north to complete a program at its Hecla-Kilmer rare earth prospect, it unexpectedly returned to Northway and drilled a third hole, one directed even closer to the centre of the target and toward the projected throat of the big kimberlite.
The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS
© 2024 Canjex Publishing Ltd. All rights reserved.