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by Will Purcell

The diamond and specialty minerals stocks box score for Wednesday was a so-so 80-89-141 as the TSX Venture Exchange fell one point to 574. Chuck Fipke and Chad Ulansky's Metalex Ventures Ltd. (MTX) closed unchanged at 1.5 cents on 13,000 shares Tuesday and did not trade today. The company's diamond and scandium -- or is it now gold? -- promotion in the James Bay district of Quebec quietly took a hit last week with word, buried in the bowels of an otherwise more cheerful news release, that a four-hole drill program on the A5 block was a bust.

This was to have been a five-hole drill program, but the wildfire scourge that plagued the province last spring and summer limited the company's effort. Mr. Ulansky, president and chief executive officer, says that results of the work have now been received and "significant mineralization for either gold or ilmenite/scandium was not intersected." And so, he and Mr. Fipke, chairman, are reviewing the results along with previous data to decide if drilling the fifth target is warranted.

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