23:37:07 EDT Fri 12 Aug 2022
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Diamond & Specialty Minerals Summary for Aug. 2, 2022

2022-08-02 20:21 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Tuesday was a so-so 104-98-108 as the TSX Venture Exchange regained eight points to 654. Grenville Thomas and Ken Armstrong's North Arrow Minerals Inc. (NAR) lost one-half cent to 7.5 cents on 11,000 shares.

The company now has the last diamond counts from its 2021 bulk sampling program of its Q1-4 kimberlite, just north of Naujaat in central Nunavut. The latest results, from nearly 500 tonnes of kimberlite extracted from the surface of the A88 lobe of the large, horseshoe-shaped pipe, continue to support the company's theory that a population of orange and yellow fancy diamonds have a sufficiently coarse size distribution profile to suggest the project could be economically viable.

North Arrow recovered 99 diamonds on a De Beers No. 9 sieve, which limited the test to gems weighing roughly 0.18 carat or more. (Grade assessment was not part of the plan; instead, the company sought to flesh out the size distribution profiles of its two main diamond populations -- the desirable fancies and the other, standard gems.) Even so, the latest test averaged 11.2 carats per hundred tonnes (cpht), matching what a smaller test of the lobe managed in 2017. That earlier test graded 30.5 cpht on a No. 1 sieve, so using the larger sieve lost nearly 40 per cent of the tiniest diamonds.

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