For the tale of the tape, the TSX Exchange lost 0.26%, while the TSX Gold Index gave back 0.7% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, added 0.09% with the declining issuers beating the advancers by a 550 to 490 margin on robust volume of nearly 255 million shares traded.

Arctic Star Diamond Corp., WSR Gold Inc. and Metalex Ventures tabled visual estimates for their joint venture project some 45 kilometres north of Noront resource’s Eagle One discovery in Ontario’s James Bay lowlands. Of particular interest is hole 5.01-06 that cut 95 metres of near massive sulphide. Results are still pending. Arctic Star ended the day down C$0.01 at C$0.135, Metalex closed up C$0.02 at C$0.385 and WSR added C$0.13 to close at C$0.79. It is worth noting that WSR can earn 50% of the property by spending C$20 million over 4 years and currently Metalex, which is run by legendary Canadian diamond finder Charles Fipke, owns 91.5% and Arctic 8.5%.

Word that the Saskatchewan Mines Branch has issued a potash permit covering 91,000 acres to Potash North Resource drove the junior’s share price C$1.34 higher to C$1.54.

Despite the healthy volume, it was another generally quiet trading day. We will see what Thursday trading has in store.

Source: Resource Stock Roundup: Thursday, June 5th, 2008