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by Will Purcell

The diamond and specialty minerals stocks box score for Thursday was a so-so 71-80-159 as the TSX Venture Exchange slid 14 points to 615. Adrian Smith's First Atlantic Nickel Corp. (FAN) lost three cents to 29.5 cents on 1.45 million shares although its initial assays from the Super Gulp zone at its Atlantic nickel project in central Newfoundland have yielded a new discovery. The first hole, the company cheers, returned a 293.4-metre surface-based interval that averaged 0.25 per cent nickel and 0.28 per cent chromium.

The company offered the usual array of "including" intervals that usually serve to highlight richer areas, but First Atlantic's subintervals merely highlighted the grade consistency as peak values in individual samples were just 0.32 per cent nickel and 0.8 per cent chromium. Metallurgical work -- Davis tube recovery testing -- is under way to quantify how much of the nickel is recoverable.

This is a long hit -- significantly exceeding the historical average of 80 metres at Atlantic, the company says, pointing to a 50-year-old test that returned 0.22 per cent nickel across 87.2 metres in the Atlantic Lake zone. Super Gulp is 16 kilometres south of the Atlantic Lake zone and 10 kilometres north of the RPM zone. This allows Mr. Smith, president and chief executive officer, to cheer "continuous awaruite nickel mineralization" within a 30-kilometre-long zone.

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