Patrician Diamonds (PXC) shares jump 20% Monday.
Patrician Diamonds (TSX: V.PXC, Stock Forum) shares climbed 20% to six cents Monday after the company announced that micro diamonds have been recovered from small core samples from the first hole diamond drilled to test the Hillside Kimberlite on the Doctor Lake Project in the Northwest Territories.
Six microdiamonds in the 0.106 mm to 0.150 mm size range were recovered from samples 001 to 005 collected from the upper part of the kimberlite. These samples had a total weight of 111.5 kilograms and were obtained from samples taken from the first 70m of core, says Patrician.
Patrician's management says the results confirm that Hillside is diamond bearing and suggest that other kimberlite targets in the project area may have good diamond potential. The company is considering follow-up drilling this fall to evaluate these other targets and to test other parts of the Hillside Kimberlite.
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