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MAXAM Gold Corporation Announces Green Light for PGM Program; MAXAM's Leach Recovery 100% Efficient
Business Wire - December 02, 1997 07:55
%MAXAM-GOLD MXAM %ILLINOIS %MINING %METALS V%BW P%BW
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EAST PEORIA, Ill.--(BUSINESS WIRE)--Dec. 2, 1997--On November 29, Hewlett Mineral Management reported that as a result of the Assays received from analyses of over 100 samples since August, it is confirmed the PGMs exist on the Peoria Seven and Peoria South properties and can be expected to be found in economic concentrations.
Platinum Group Elements have been detected in previous analyses by various laboratories (XRAL and Activation Laboratories) and reported in the MAXAM August Press Release. These have now been confirmed by Electron Microprobe and EDS analyses.
Results from these Assays lead to two conclusions:
1. The ten Reverse-Circulation drill holes collected more
representative samples than did the 39 Auger drill holes for the
PGMs, as well as for Gold and Silver.
2. The Nickel Sulfide Fire Assays are the best for the Platinum
Group Element determinations for MAXAM's ores. This type of assay
also controls the volatile Osmium, Iridium, and Ruthenium, and they
are reported with accuracy.
Maxam management has, therefore, authorized the expansion of
drilling and sampling on the Peoria Seven and Peoria South properties
to determine the extent of Platinum Group Metals, in addition to
Gold, Silver and other metals/elements, in the ore body.
Below is a comparison of nickel-sulfide collection and lead
collection methods for determining the Platinum Group Metals:
SAMPLE ID TROY OUNCES/TON MAGNETIC FRACTION(PPB)
P7-3 MAGNETICS Osmium Iridium Ruthenium Rhodium Platinum Palladium
Nickel-sulfide -10. 7.2 -25. 19. 324. 31.
Lead 15. 4.
Results from Higher Grade concentrations of PGMs confirm that
PGMs do exist and can be expected to be located in economic
concentrations.
Maxam's Leach Recovery 100% Efficient
Hewlett Mineral Management reports over 140 samples have been compared by at least two analytical methods using sample splits at the same and/or different Registered Laboratories.
Hewlett compares analytical methods and states that both the gold and silver have the highest recovery with the Chlorine/Bromine MAXAM Leach. The same is true for the PGMs.
Skyline Labs compared Fire Assay with the Chlorine/Bromine MAXAM Leach on a bulk sample of MAXAM ore.
Fire Assay-Pb Collection: 2.510 T. oz. Gold/Ton
Chlorine/Bromine Leach: 5.250 T. oz. Gold/Ton
The above was confirmed on a one pound split by Precious Metals Recovery Systems in Riverside, CA.
Results: 5.100 T. oz. Gold/Ton
These results illustrate the efficiency of the MAXAM LEACH PROCESS.
For more details, please refer to MAXAM Web Site.
SAFE HARBOR STATEMENT
Actual results from the above disclosures could differ materially from projection, as results from economic factors, geological factors, operations factors, government regulations, or factors relied upon from independent sources, may either negatively or positively impact exploration or mining progress.
CONTACT: MAXAM Gold Corporation
Dale Runyon, 309/699-8725
Al Hubbard, 602/314-4907
maxamgold.com |
