Assay Report to Global Platinum and Gold, Inc.
Re: The Oro Grande Mine, Wickenburg, Arizona
By Michael P. Thomas, M.H.S. Laboratories
January 29, 1988
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An assay report, five months in preparation, has been presented to Global Platinum and Gold Inc. by Mr. Michael P. Thomas BA, MS, ACS, AIME of M>H>S> Laboratories in Denver.
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Mr. Thomas has over ten years background in the analysis of platinum group metals and has done consulting work for Marathon Oil Co., ARCO Refining Co., ARCO (Anaconda-Stillwater Project), and Mining Corporation, Inc. (Noranda Group), among others.
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The ores at the mine site exist along three shear zones. Hematitic breccias (likely altered sulfides), sulfides in acid matrices, mafic schists and diorites are the primary ores. These contain various platinoid minerals and gold. Likely including iso-ferroplatinum, laurite, and various unidentifiable minerals. Reduced iron complexes on the property (150 acres) and the surrounding 1000 acres also contain platinum group metals in high concentrations.
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There is estimated to be about 62,000,000 tons of ore at the mine site to a depth of about 350 ft. An additional 100,000,000 tones is available between the 350 foot level and the deepest level assayed, 700 feet. The surrounding area, 1000 acres of lode claims, appears to contain similar values on the basis of lithologic similarities, structural similarities, and some random assays.
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Five hundred preliminary assays were run on the ores of the Oro Grande mine site (150 acres) in order to establish analytical procedures. The final procedures included flame AA, flameless AA, nickel sulfide and classical fire assays.
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The final assay report was based upon 862 assays distributed among seven elements: Au, Pt, Pd, Rh, Os, Ir, and Ag. Raw data were treated statistically in order to reject outliers and generate a final set of assay averages. The following are the assay averages: Au – 0.205 opt, Pt – 0.863 opt, Pd – 128 opt, Rh – 0.086 opt, Os – 24.23 opt, Ir – 13.65 opt, and Ag – 1.12 opt. The os and Ir values were further reduced on the basis safe sample weights for each ore type considered in the assays.
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The estimated average value for all ore types is nearly $500/st. The reduced iron complexes, when considered apart from other materials, have an estimated value approaching $7000/st.
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A full report on the analytical methods and extractive methods will be forwarded to the president of Global Platinum and Gold, Inc. in the next thirty days.
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. . /s/ Michael P. Thomas
. . Michael P. Thomas
. M.H.S. Laboratories
I have not been able to find anything on Dr. Peter Fischer, but I did find an old report on the Oro Grande by Michael P. Thomas for GPGI in 1998. Mr Thomas is stil active in the mining business,operating under the name of Yelloknife Mining Co., in Lakewood, Colorado. Here is his abstract, as retypd by me, so th words are all his but you canblameme for any typing errors.
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Abstract ....
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