Here's the follow up news release on the mineral seperation. I think this is a promising stock. Again, not trying to give hype here, just information.
Mike
NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS
FOR: CONSOLIDATED VISCOUNT RESOURCES LTD.
VSE SYMBOL: CVR
OCTOBER 10, 1996
CORRECTION FROM SOURCE: Consolidated Viscount Tests Prove
Successful
VANCOUVER, BRITISH COLUMBIA--CORRECTION FROM SOURCE: In the news
release transmitted earlier today, October 10, 1996, the contact
telephone number for the company was incorrect. The number should
read (604) 488-0133. The complete, corrected release follows:
Consolidated Viscount Resources Ltd. management reports that a
test was recently conducted to extract both scandium and nickel
from a sample taken from the company's Sumas Mountain, Washington
property. The test was considered highly successful from both an
extraction and an economic standpoint. Further testing has been
recommended using a much larger sample. All tests were conducted
at the laboratories of a scandium producer in Colorado, and were
conducted to define metallurgical status. Separation of the
metals was attained with relative ease. This second testing phase
will begin soon.
To date, approximately 800,000 tons containing 0.65 percent nickel
and average of 1.4 oz per ton scandium has been indicated together
with 48 percent iron. A recent rock slide has exposed bedrock
containing almost identical values and has increased the potential
tonnage. This tonnage figure does not include ore recoverable
from the underlying peridotite structure.
Further sampling will commence October 11th, when the company's
chief geologist and members of a potential joint venture partner
will visit the property. A fall/winter exploration program is in
the planning stages.
Scandium is a rare earth that is used in metal halide lamps, x-ray
spectrometers and semi-conductors. A new technology recently
imported from the former Soviet Union and previously unknown in
the west has greatly enhanced the future demand for scandium.
Additional uses are being developed with the best growth potential
in the aluminum industry, as an advanced type of scandium-aluminum
alloy offering minimized corrosion properties. Scandium
containing aluminum alloys offer increased strength,
fabricability, plasticity, and fatigue resistivity. Scandium also
greatly increases the weldability of aluminum alloys.
Recent published prices for scandium metal are as follows: 95
percent pure/US$280 per oz; 99.99 percent pure/US$616/oz.
Leonard J. Harris
President
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Consolidated Viscount Resources Ltd.
Leonard J. Harris
President
(604) 488-0133
1-800-665-9404
The Vancouver Stock Exchange has not reviewed and does not accept
responsibility for the accuracy of this release. |
