04:44:11 EDT Tue 26 Sep 2023
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Diamond & Specialty Minerals Summary for June 8, 2023

2023-06-08 20:31 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Thursday was a ho-hum 93-84-133 as the TSX Venture Exchange fell fractionally to 611. Silence is not golden in the diamond sector. Lucara Diamond Corp. (LUC) bounced off a 15-year low of 38.5 cents a week ago but the trend remains downward: Lucara retreated one cent to 44 cents on 92,000 shares today.

Francis MacDonald's Li-FT Power Ltd. (LIFT) fell 21 cents to $8.66 on 55,000 shares. The company has begun a busy drill program at its Yellowknife lithium project, east of Yellowknife in the Northwest Territories. The 45,000-metre program is targeting seven pegmatite dike complexes -- complexes being more promotable than mere bodies regardless of how many individual ones there are, it appears.

The drilling will start with bodies, the Fi Main and Fi Southwest pegmatites, which returned the best grades during trenching. The company will test its pegmatites on a 100-metre-by-100-metre grid so that it can prepare a resource estimate next year, it says. These two targets are slated to receive 79 holes spanning just over 16,000 metres, so given the grid spacing it appears they have a significant areal extent.

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