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Gold/Mining/Energy : International Precious Metals (IPMCF)

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To: Joe Hartenbower who wrote (27011)	11/17/1997 8:40:00 AM
From: strenlich	Read Replies (1) of 35569

Globe says Arizona site low on gold Mon 17 Nov 97 In the The Globe and Mail reports in its Monday, November 17, edition that International Precious Metals says long awaited independent tests have found gold at its Arizona mine site, although in smaller quantities than earlier tests showed. A Bloomberg News dispatch to the Globe says the results indicate that there is about one third the amount of gold found by the company's own tests.It announced its test results at its annual shareholders meeting in June. The independent tests used a "modified fire assay procedure." IPM didn't elaborate on the process or identify theArizona lab that performed the tests. Fire assays are the standard process the industry uses to determine the presence of precious metals. The testing was overseen by Bateman Engineering of Denver. IPM said the lab also found traces of platinum, although results aren't yet conclusive. IPM says the extraction process used for the test samples probably won't be used for the commercial development of the property. Long and staying long: regards-strenlich-

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