GPGI NEWS RELEASE 2/22/97
GLOBAL PLATINUM has recieved SETTLEMENT reports from their eastern refiner on THREE SEPARATE SUBMITTALS of precious metal bearing material. The samples are small because the refiner desired to find
the best way TO RECIEVE THE MATERIALS IN THE FUTURE.
lot#1 Consisted of 32 pounds of Dore bars created from a lower grade anode sludge concentrate by fire in a high temperature graphite furnace. The refiner returned values of 63.62 PT (platinum) ounces
per ton, 35.30 opt of PD (palladium), trace of RH (rhodium), and trace of Gold. However, our refinery recovered values in hand, from composite drill hole samples, considerably higher, probably due to the complexity of the material.
Lot#2 consisted of 2.4 pounds of unreduced anode sludge assayed by the
refiner at 340.30 opt AU, 767.78 opt PT, 733.73 opt PD, and a trace of Rh. However, again our refinery recovered values in hand, from a carfully selected split of the entire sample, at about double the values reported by the refiner and over 1000 opt RH. We have no idea how the discrepancy could occur in the rhodium assay.
Lot#3 Consisted of 1.08 pounds of anode sludge reduced to Dore metal
by high temperature fusion in a graphite furnace, by high heat. The
results reported by the refiner showed PT assaying 1552.08 opt, PD
1656.26 opt. AU 765.91 and a trace of RH. Our in-house lab refinery showed considerably higher values, especially rhodium, from a 3.8 gram piece of metal that spilled during the final pour.
The concentrates produced by Global in a form suitable to a user or a refinery would indicate that the ore is commercially and economically viable. It is virtually impossible to estimate the true worth of the
stock-piled ore until several hundred tons of material has been processed. Even then, estimates could refer only to the material processed, not the entire stockpile. However, the material that has been processed to this point indicates a value of $2,500.oo per ton of head ore (stockpiled ore).
Global is continuing to produce anode sludge but in small amounts, however, with the addition of many more plating tanks this could increase production in the near future considerably. Global is also
working on the leach production, producing concentrates that interpolate back to the screened ore at an average of $2,500. per ton.
Research is being carried on continuously in an effort to put these concentrates into a refinable form without the use of the furnaces and the electrplating units.
In the meantime the in-house refinery is now doing 5 pound tests on the anode sludge and a very successful recovery of each precious metal has been reported by Mr. Wayne Palmer, the superintendent of the operation. Further and more concrete information will be reported as it is recieved. The next target will be the development of a marketing division to market the precious metals in a form that users and consumers desire. When this is accomplished the Company will be free
from dependency on outside mining interest.
GPGI
Richard E. Jensen
Pres. & CEO
Wade, Seems as though Dick was reading your mind.
Zeev, There's your head ore #(with the cavaet). Care to suggest a reason for the RH discrepancy?
More comments later, want to get this out for you.
Jim
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