The Great Canadian Exploration Company Inc
Corporate Summary
The Great Canadian
Exploration Company Inc.
A
private Company Incorporated in Alberta on March 10th, 2003.
Shares
Outstanding as of August, 2004 :
5,303,000
Fully
diluted as per Offering Memorandum dated, August 2004 : 7,795,000
Securities
Offered : 1,000,000 non flow through
Class “A” common shares @ $0.20 per share
1,600,000
flow through Class “A” common shares @$0.25 per share
Total
dollar amount to be raised as per Offering Memorandum $600,000.00
COMPANY
HEAD OFFICE
#201 17412 – 105 Ave.,
Edmonton,
Alberta T5S 1G4
LEGAL
COUNSEL & REGISTERED OFFICE
David
R. Abbey Professional Corporation
#
780 – 10150 – 100th St.
Edmonton,
Alberta T5T 0P6
BANKING
Royal
Bank of Canada
Mayfield
Pointe West
16909
– 103 A Ave.,
Edmonton,
Alberta T5P 4Y5
MANAGEMENT
TEAM & DIRECTORS
John
R. Hope, President CEO & Director
E.
Henry Boychuk, CA. CFO & Director
Catriona
Imray, Geological Technologist – Corporate Secretary & Director
Tony Kosub
Director
Jeanine (Peever) Colley Director
Tony Wong
Director
DIRECTOR EXPERIENCE:
The principals of the Company are well versed
in the mining industry with a combined experience of well over 60 years.
The Great Canadian Exploration Company Inc. is
a Canadian exploration company engaged in the exploration and development of
mineral properties throughout the world and is familiar with all phases of
mineral exploration and property acquisitions and development. The Company has
exploration properties in B.C., Alberta and Nova Scotia as well as Panama in
central America .
COMPANY PROPERTIES:
The company owns two properties in B.C.
The Vowel mountain gold and platinum property
in the Liard Mining Division of B.C. consists of 52 claims containing a total
of 3,250 acres. The Haskins mountain molybdenum, silver lead zinc, bismuth and
tin property with inferred resources of 726,000 tons and indicated resources of
13,482,000 tons consists of 48 claims containing 3,000 acres in the Liard
Mining Division.
The Alberta diamond property near Hinton where
26 diamonds were discovered on an adjoining property consists of two townships
each containing 10 square miles for a total of 20 square miles.
The Widow Point gold property in Nova Scotia
consists of 19 claims containing 760 acres of high grade gold mineralization in
Guysborough County. 12 miles to the south east of Widow Point is the old Wine
Harbour Gold Mines now owned by Ted MacNaughton and available to the company
under favorable terms, containing 1,000 acres consisting of 25 claims.
The rich Panama placer gold property which
covers an area of 20.8 square miles is under an agreement with Panama Mining of
Golden Cycle and Golden Cycle of Panama and no deal can be struck unless it
comes through Calais Resources of which The Great Canadian Exploration Company
Inc. has an agreement with.
The company has an option on approximately 50
tons of B.C. Jade and is able to acquire more should it elect to do so.
DIRECTOR HISTORY:
JOHN R HOPE
PRESIDENT CEO & DIRECTOR
Mr. Hope is president and founder of the Great
Canadian Exploration Company Inc. and intends to make the company a leader in
the mining industry. John has had a life long commitment to the mining industry.
He was raised on his fathers gold mine in northwestern B.C. so had a very early
introduction to the mining industry. His experience spans almost 50 years of
working in some way with mining or mining related industries. He has been
instrumental in the discovery of several mining properties in B.C. and has
worked in both open pit and underground mines as well as in exploration for
many junior and major mining companies. John has extensive placer mining
experience and was involved in the management of the largest placer gold
operation in B.C., has worked on his own placer properties in both the Yukon
and B.C. John is well respected through out the mining community and regulatory
bodies of the industry and was the top recipient of the B.C. Government Prospectors
Grant Program for three consecutive years. John has been involved in the public
mining arena in the past and has implemented his various skills within
management positions. John believes in team work and has strived to create a
successful team of skilled people to move the company towards its goals and is
committed to the company on a full time bases.
E. HENRY BOYCHUK , CA. CFO & DIRECTOR
Mr. Boychuk qualified as a Chartered Accountant
in 1971 and has practiced Public Accounting for over 20 years. Henry worked in
Freeport, Bahamas from 1971 to 1974 for Thorne, Gunn Charted Accountants acting
for TSE public companies operating offshore for tax reasons. He has other
international experience as well. Henry owned Kokanee Ford Mercury Sales Ltd. in
Creston, B.C. from 1980 to 1982. Was controller of Sunrise International Inc.,a
TSX listed company from 1992 to 1995. Is presently president of First Edmonton
Financial Inc., a corporate financial consulting company since April 1990,
specializing in Corporate Finance, Venture Capital, and Public Companies.
CATRIONA IMRAY, GEOLOGICAL TECHNOLOGIST –
COROPORATE SECRETARY & DIRECTOR
Ms. Imray graduated from N.A.I.T. with honors
in Geological Technology. Catriona has worked in the exploration field for BHP,
in the Northwest Territories, The Great Canadian Exploration Company Inc. in B
.C. and Miramar Mining Corporation in Nunavut. Catriona has a good
understanding of projects in the field and completes jobs on time and on
budget. Her experience in the office is of the same caliber which makes her a
very valuable asset to the company.
TONY KOSUB - DIRECTOR
Mr. Kosub has many years of experience in the
mining and construction industry. He has worked on projects such as the
building of the Cassiar Asbestos Mine, the Bennett Dam in B.C., Kaiser Coal and
Syncrude in Alberta. Tony took Pine Grove Resources public in the latter part
of the 80’s a mineral exploration company he founded and which later became
Weda Bay Minerals Inc. that trades today on the Toronto Stock Exchange. Tony is
also presently a director of Boxxer Resources a Calgary based mining company.
JEANINE (PEEVER) COLLEY – DIRECTOR
Ms. Colley has over 12 years of experience as a
board member of various organizations and companies. She is presently the founding
member and current president of the Alberta Food Networking Association.
TONY WONG – DIRECTOR
Mr. Wong
has many years experience with a Chinese newspaper that serves the
Chinese Community in Edmonton. Tony has many friends and is well liked throughout
the community and has a sound knowledge of the Newspaper Industry and how
business is done in Hong Kong.
Tony has many years of experience in investing
and has been very successful in this area.
PANAMA
– CENTRAL AMERICA
Placer
gold deposit
The
Panama gold deposit was first discovered by Columbus on his last and final
journey to the new world in 1503 when he landed on the Caribbean Coast of
Panama and observed the natives wearing gold jewelry. By interrogation of the
natives he learned the gold came from several gold laden rivers ( Rio
Concepcion, Rio Veraguas, and Rio Belen ) which flowed into what is now known
as the Mosquito Coast of Panama.
From
1554 to 1589 it is reported that 289,300 troy ounces of gold was produced from
this area by primitive methods. Today local natives of the area still use the
primitive method of panning by hand and recovering between one and two grams of
gold in a day. No modern day equipment has ever been successfully put to use in
the area. In 2002 a mining operation with an old loader and dozer was attempted
and failed due to logistics and equipment problems, however 17,000 yards of
material were estimated to be processed and 17,000 grams of gold were recovered
with bedrock never been cleaned. 17,000 grams of gold equates to 544 troy
ounces with a value of $217,948.00 @ $400.00 per ounce U.S. for gold. The
potential for a modern day washing plant capable of processing a minimum of 100
cubic yards per hour operating 20 hours per day is evident. There is sufficient
pay ( 1 to 2 grams of gold per yard ) and water to make such an operation
viable for many years to come. An immediate
establishment of a fully operational plant and equipment is the
companies main focus. Capital costs will range from $1,000,000.00 to
$1,500,000.00 with an immediate net cash flow of $3,000,000.00 the first year
making this an excellent producing mine for the company with minimal capital
costs. Panama is open for business and welcomes any mining that will create an
infusion of capital into the economy.
HASKINS
MOUNTAIN B.C.
Molybdenum,
silver, lead zinc
Deposit
Located
in northwestern B.C. eighty-five miles north of the village of Dease Lake and
three miles west of high-way #37 the Haskins mountain property is a molybdenum,
silver lead zinc deposit with commercial quantities of bismuth and tin. There
has been a substantial amount of exploration done on the property in the past
and it was slated to go into production prior to the election of the NDP
Government in the mid 1970’S however when the new government was elected they
taxed all mining companies on reserves yet to be mined from the ground and
killed the project. The property was drilled sufficiently enough that resources
were established. Inferred resources of 726,000 tons of silver lead zinc with
commercial quantities of bismuth and tin were established with the possibility
of expanding the resources. Grades averaged 5% zinc 2% lead and 1ounce silver
per ton. 13,482,000 tons of molybdenum were drilled off and put into the
indicated resource category with an average grade of .15% mos.2. Within the
last year the price of molybdenum has climbed from $3.50 per pound to over
$16.00 per pound making the Haskins mountain known molybdenum resource worth
over $387,900,000. Because of the increased price and demand for base metals
the Haskins mountain property has become very viable and father drilling is
required to confirm reserves so that a feasibility study can be made to determine
the economics of the deposit and a production decision. Accessibility is very
good and road infrastructure is established through out the property.
WIDOW
POINT NOVA SCOTIA
Lode
gold deposit
The
Widow Point property in Guysborough County Nova Scotia is an extremely rich
lode gold deposit similar in character to the famous “ Saddle Reef “ gold
deposits of Bendigo Australia where over 18,000,000 ounces of gold has been
mined and recent exploration has determined that the deposits are much deeper
and richer than originally thought .
Similarities
are: NOVA SCOTIA BENDIGO
Discovered 1861 1851
Gold
grade 15g/t 15g/t
Production 1.25 Mil. Oz. 18 Mil. Oz.
Mine
depth 200 m. 1,200 m.
There
is an estimated 500,000 tons of ore @ an average grade of 3.5 grams per ton
drill indicated values at Widow Point. Because of the nugget effect of the
Widow Point and Bendigo deposits the average grade is much richer when mined
than diamond drill indicated. Assays from a previous drill program on the
property in the mid 1980’s are very encouraging and determine values as high as
313.32 grams (10 ounces ) per ton over
mine able widths of one meter. A preliminary evaluation confirms that the
property has wide spread economic grade gold intersections and requires a
systematic evaluation by infill diamond drilling so that a production decision
may be determined.
Some
exciting diamond drill intersections are.
Diamond
drill hole WP 83-4 From 172.50 To
173.50 meters – Interval 1.00
meter grams/tonne in gold 313.32 (10.04
ounces)
Diamond
drill hole WP 83-6 From 56.50 To 56.60
meters – Interval 0.10 meters grams/tonne in gold 473.41 (15.17 ounces)
Diamond
drill hole WP 86-3 From 73.83 To 74.08
meters – Interval 0.25 meters
grams/tonne in gold 380.00 (12.18 ounces)
Diamond
drill hole WP 86-5 From 103.38 To 103.90 meters – Interval 0.52 meters grams/tonne in gold 50.67 (1.62 ounces)
Diamond
drill hole WP 86-8 From 81.10 To 81.75 meters – Interval 0.65 meters grams/tonne in gold 161.98 (5.19 ounces)
Diamond
drill hole WP 86-8 From 99.34 To 99.69 meters – Interval 0.35 meters grams/tonne in gold 297.21 (9.52 ounces)
Diamond
drill hole WP 87-13 From 11.86 To 12.60 meters – Interval 0.74 meters grams/tonne in gold 342.80 (10.99 ounces)
Diamond
drill hole WP 87-19 from 244.00 To 245.42 meters – Interval 1.42 meters grams/tonne in gold 101.45 (3.25 ounces)
Gold
is present as fine to coarse aggregates in quartz veining with multiple slate
beds which are now altered to chlorite-biotite schists. At least 10 horizons of
gold bearing schists have been identified. Significant gold intersections have
been cut over a 120 meter strike length and to a depth of 200 meters. These
multiple zones have spectacular visible gold in places and are open along
strike and at depth. Accessibility to the property is excellent.
WINE
HARBOUR GOLD MINES NOVA SCOTIA
Lode
gold deposit
The
Wine Harbour Gold Mines is approximately 12 miles south of the Widow Point
deposit and is in a similar geological setting. The property is available to
the company under favorable terms.
Prior
to the turn of the century 42,726 ounces of gold was mined from 79,822 tons of
rock, equating to an average grade of 17 grams (.535ounces) of gold per ton. At
present there is an estimated 123,202 tons of ore in reserve averaging 8.23
grams per ton (0.245 ounces) Out of the 123,202 tons there is 72,045 tons
averaging 12.5 grams per ton (0.3901 ounces). All of these grades are of mine
able values and the potential to discover more reserves is very favorable. (
Malcholm’ Gold Fields of Nova Scotia, Memoir No. 385, 1929 ) states that Wine
Harbour has one of the best possibilities for development of a high grade,
narrow vein, gold deposit anywhere in Nova Scotia. Accessibility is excellent.
VOWEL
MOUNTAIN B.C.
Lode
gold deposit
The
Vowel mountain property is located in North Western B.C. approximately 35 air
miles north west of the village of Dease Lake on the Eastern slope of Vowel
mountain. Vowel creek, Rose creek and Frying Pan creek all flowing off of the
Eastern slope of Vowel mountain and covered by the Frying Pan claims were mined
in the late 1800 and early 1900 by placer miners. Some of the creeks flowing
into Thibert creek were rich in Platinum. Black sand concentrates assayed as
high as 12,000 ounces of platinum per ton. The richest documented platinum
concentrates in Canada. The Chinese were early miners of the region and
evidence of their work is apparent on Vowel creek. In 1989 Big I Developments
Ltd. discovered gold in quartz veins hosted in sediments and volcanics of the
French Range formation. Some limited trenching was done in an area of anomalous
geochemical gold values, that returned gold in quartz and schist’s that assayed
9.14 grams per ton (0.341ounces) over a width of 1.38 meters. Other sampling in
the area also retuned encouraging results. A report on the property compiled by
James W. McLeod, B.Sc. in 1989 and revised in 1990 recommended geological
mapping and prospecting of the entire
claim group, completion of the geochemical and geophysical surveys that were
started in 1988. Follow up trenching of the anomalous areas and further
detailed trenching of the Seven Eagle Zone where the best gold results were
incountered along with some preliminary drilling. The recommended program was
never done on the property due to lack of finances and the claims were allowed
to lapse . John Hope staked the property in 2001. In 2000 the B.C. Government in conjunction with the Federal
Government did a regional geochemical survey of the entire Dease Lake map sheet
(104J) on which the Frying Pan claims are located. A total of 963 stream
sediment samples were analysed for more than 40 elements, including precious
and base metals. The Vowel mountain area had many zinc values exceeding 145 ppm
which are higher than the 90th percentile for RGS silt samples in
the entire province. Other samples from the Vowel mountain area contained
elevated gold values of 250 ppb’s as well as arsenic, antimony, barium and
selenium. There is potential south of the Thibert Fault where Vowel mountain is
located for Mesozoic volcanic sequences correlative with packages that are
known to host VMS deposits. (Cordey et al., 1991) For example, stratigraphy
that is age-equivalent to the rocks that host the metal rich world class Eskay
Creek mine 125 miles to the south, the richest gold mine in North America. A
small program done in 2003 by this company under the direction of Boris B.
Molak Ph.D.,M.Sc. and John R. Hope in the Vowel mountain area confirmed the
potential for a large low to medium grade gold deposit, further exploration
will have to be carried out to verify this potential along with the commencement
of diamond drilling. Accessibility to the property is by helicopter from the
village of Dease Lake 35 miles to the south east. A 15 mile 4x4 road from
highway #37 at the north end of Dease Lake is another alternative, however is
not reliable due to beavers flooding the area the road traverses and the fact
that it terminates at the bottom of Vowel mountain makes it not as attractive
as helicopter service.
B.C.
NEPHRITE JADE
Located
in Dease Lake and area the company has the option to aquire approximately 50
tons of mined Jade. The Dease Lake area hosts some of the best nephrite jade in
the world. Mined from lens along serpentine dykes and boulders eroded from such
dykes this beautiful stone has many applications excluding the gem quality
material that is very valuable. Nephrite is actually not a mineral, but a
variety of the mineral actinolite. The nephrite variety of jade is composed of
fibrous crystals inter-twinned in a tough compact mass. The toughness of jade
is remarkable. It has a strength greater than steel and was put to work by many
civilizations for axes, knives and weapons. It was later that jade became a
symbolic stone used in ornaments and other religious artifacts during the eons.
Today jade is still valued for its beauty. The emerald green color is highly
sought after by artwork collectors. John Hope is aware of a few deposits that are available and require
some exploration to determine quality and quantity. The market for Jade is
limited, however there is some applications that jade would work well in and
there would be a demand for it , if a reliable supplier could be found. The
Great Canadian Exploration Company Inc. is involved in working with a group
that is interested in setting up a jade manufacturing business in the Edmonton area that would require an on going
supply .
WILD
HAY ALBERTA – Diamonds
The
Wild Hay property located in central Alberta just north of Hinton is in an area
where diamonds have been found. 26 diamonds were panned from stream alluvial on
Pinto Creek to the west of the companys Wild Hay property. Although there has
been no Kimberlite Pipes found in the area as yet, it is very exciting to have
discovered diamonds in a region of little known geology and heavy overburden.
Kimberlites have been found through out Alberta and there is some that have
produced diamonds. The Hinton area is as good a place as any in Alberta due to
the fact there is hard evidence that diamonds do exist in this region, to
locate Kimberlite Pipes that undoutably would host diamonds. (quote) There are
several locations with high DIM counts and favourable chemistry in Alberta that are prospective for future kimberlite
discoveries. These include Buffalo Hills, Caribou mountains, Calling Lake, St Paul,
Cold Lake, Edmonton as well as others. The prospect of an economic discovery in
Alberta is still HIGH. (Michael B. Dufresne APEX Geoscience Ltd.) The Wild Hay
property is road accessible and a three hour drive from Edmonton.
CONCLUSIONS
The
Great Canadian Exploration Company Inc. has an excellent portfolio of
properties of merit and with sufficient capital can advance and develop its
properties to a stage of profitability for the company and thus an increased
share value. This may be achieved in a variety of ways. (1) By selling some of
its properties. (2) By joint ventures with other mining companies. (3) By
placing some of its properties into production. (4) By retaining a royalty and
let another company put the property into production.
The
companies main objective is to create value for it’s share holders and this can
be achieved by a variety of the above processes. The management team of the
company is well versed in the mining industry and is well respected throughout
the mining community. Objectives and costs are met on time and on budget with
proper financing in place. It is the managements goal to create a world class
mining company out of a vision that under proper guidance will become a reality
and earn superior returns for shareholders as a low cost explorer and developer
of gold, base metal and other resources. The Great Canadian Exploration Company
has a strategy for growth which has several key components. (1) Growth from low
cost quality gold assets. (2) Growth from a broad inventory of precious and
base metal assets. (3) Growth from precious stone or gem stone assets. (4)
Growth from joint venture partnerships. (5) Growth from superior returns on
mineral property investments. (6) Growth from a competent management team. (7)
Growth from its own producing mines. (8) Growth from sustainable development
and community benefit. In conclusion the following properties are slated for
development in the order they appear.
PANAMA
CENTERAL AMERICA – Placer gold
Production
will commence at a capacity of 100cu,yds/hr. @ U.S. $18.75/yd. x 20 days x 10
mths.
=
U.S. $7,500,000.00. Net income in year
one U.S. $3,000,000.00. Capital and operating costs in the first year
$4,500,000.00. Net annual income there after $4,000,000.00 U.S.
HASKINS
MOUNTAIN B.C. - Molybdenum, silver, lead and zinc
Exploration
including diamond drilling. $750,000.00 will be spent on a first phase program
on the Haskins mountain property with inferred resources of 726,000 tons of
silver lead zinc and indicated resources of 13,482,000 tons of molyddenum
containing an estimated value of U.S. $441,500,000.00. This program will
confirm and expand resources.
WIDOW
POINT NOVA SCOTIA – Lode gold
Infill
Diamond drilling. $350,000.00 will be spent on a first phase program to
determine continuity and confirm a reserve potential of the deposit. Limited
step out drilling will be done to confirm the extension of the deposit both at
length and depth. There is an estimated $21,875,000.00 U.S. of potential gold
reserves on the property at the present time.
WINE
HARBOUR NOVA SCOTIA – Lode gold
Exploration
including diamond drilling. This property has indicated reserves of 123,202
tons of ore grading 8.23 grams gold per ton (0.245 ounces) valued at
$11,825,000.00 U.S. A first Phase program consisting of trenching and diamond
drilling to expand reserves estimated at $200,000.00 will be spent on the
property.
VOWEL
MOUNTAIN B.C. – Lode gold, platinum
Exploration
including diamond drilling. Extensive prospecting, geological mapping and
geochemical survey along with diamond drilling on identified targets of merit
will be done on a first phase program at an estimated cost of $200,000.00.
Depending on results the possibility of an immediate second phase program is
very likely at an estimated cost of $500,000.00 which would be an extensive drill
program to confirm economics of the project.
B.C.
NEPHRITE JADE – Commercial and gem quality
Exploration. Deposit evaluating and prospecting will be a
phase one program at an estimated cost of $75,000.00 this would also include
some marketing studies detailed inventory evaluation and traveling to establish
a market.
WILD
HAY ALBERTA – Diamonds
Exploration.
Detailed prospecting, alluvial gravel testing for diamond indicator minerals
and diamonds as well as air born geophysical studies to evaluate the potential for kimberlite pipes.
The
estimated cost of this program is $100,000.00
PRECIOUS
METALS THEIR USES AND VALUE
GOLD:
Atomic
Number: 79 Atomic Radius:
144pm
Atomic
Symbol: Au. Melting Point:
1064.18 C
Atomic
Weight: 196.9665 Boiling
Point 2856 C
Oxidation
States 3, 1
HISTORY:
(Anglo-Saxon-gold:
L. aurum-gold) Known and highly valued from earliest times, gold is found in
nature as free metal and in tellurides; it is very widely distributed and is
almost always associated with quartz or pyrite.
SOURCES:
It
occurs in veins and alluvial deposits, and is often separated from rocks and
other minerals by mining and panning operations. About two thirds of the
world’s gold output comes from South Africa, and about two thirds of the total
U.S. production comes from South Dakota and Nevada. The metal is recovered from
ores by cyaniding, amalgamating, and smelting processes. Refining is also
frequently done by electrolysis. Gold occurs in sea water to the extent of 0.1
to 2 mg/ton, depending on the location where the sample is taken. As yet, no
method has been found for recovering gold from sea water profitably.
PROPERTIES:
It
is estimated that all the gold in the world, so far refined, could be placed in
a single cube 60 ft. on a side. Of all the elements, gold in its pure state is
undoubtedly the most beautiful. It is metallic, having a yellow color when in a
mass, but when finely divided it may be black, ruby, or purple. 1 oz. Of gold
can be beaten out to 300 square feet. It is a soft metal and is usually alloyed
to give it more strength. It is a good conductor of heat and electricity, and
is unaffected by air and most reagents.
USES:
It
is used in coinage and is a standard for money systems in many countries. It is
also extensively used for jewelry, decoration, dental work, and for plating. It
is used for coating certain space satellites, as it is a good reflector of
infrared and is inert.
COST:
Gold
like other precious metals, is measured in troy weight; when alloyed with other
metals, the term carat is used to express the amount of gold present, 24 carats
being pure gold. For Many years the value of gold was set by the U.S. at
$20.67/troy ounce; in 1934 this value was fixed by law at $35.00/troy ounce,
9/10 fine. On March 17, 1968, because of a gold crisis, a two-tiered pricing
system was established whereby gold was still used to settle international
accounts at the old price of $35.00/troy ounce while the price of gold on the
private market would be allowed to fluctuate. Since this time, the price of
gold on the free market has fluctuated widely. The price of gold on the free
market reached a price of $870.00/troy ounce in January 1980. As of January
2004, gold was priced at about $410.00/troy ounce.
In
1999, Allan Green Span, then Chairman of the Federal Reserve Board of the
United States of America, said: “GOLD still represents the ULTIMATE form of
payment in the WORLD’’
VALUE:
The
value of gold varies from day to day. On August 12th 2004 it was
U.S. $398.00 a troy oz.
SILVER:
Atomic
number 47 Atomic weight
107.868
Atomic
symbol Ag. Melting point 1234 degrees K
Boiling
point 2436 degrees K Tensile strength approx: 19,000 psi.
HISTORY:
Silver
(Anglo-Saxon, Seolfor siolfur; Ag. Is from the Latin argentums) has been known
since ancient times. It is mentioned in the book of Genesis and slag heaps
found in Asia Minor and on the islands of the Aegen Sea indicate that silver was
being separated from lead as early as the 4th millennium B.C. Silver
has been used for thousands of years as ornaments and utensils, for trade and
as the basis for many monetary systems. It was long considered the second most
precious metal, secondary to gold.
PROPERTIES
& SOURCES:
Pure
silver has a brilliant white metallic luster. It is extremely ductile and
malleable. Together with gold, iridum, palladium and platinum, it is one of the
so-called ‘ precious metals’. Usually found combined with copper or lead, zinc,
silver has long been used in the manufacture of coins, ornaments and
jewelry. It does not react with moist
air or dry oxygen but is easily tarnished at room temperature by sulfur or
hydrogen sulfide. Silver dissolves readily in nitric acid and in hot
concentrated sulfuric acid. It is extremely malleable, ductile, and has the
highest electrical and thermal conductivities of all metals. Unlike gold silver
is present in many naturally occurring minerals. The most abundant include
argentite and tetrahedrite, While silver is widely distributed in nature. The
total amount is quite small when compared with other metals; the metal
constitutes 0.05 parts per million of the Earths crust.
USES
Historically,
silver was minted into coins, which led to its use as the standard for the
monetary systems of ancient Greece and Rome. It is likely that both silver and
gold were used as money by 800 B.C. in all countries between the Indus and the
Nile. Silver continued to be the standard for most currencies until the 19th
century, when most changed to a gold standard. Because silver does not react
readily with organic acids and bases, it is used for lining vats, tanks and
other containers in the chemical and food industries. Because of the metals
high electrical circuits and as a coating for electronic conductors; it is
often alloyed with such elements as nickel or palladium for use in electrical
contacts. In the photography industry, silver compounded with bromine or
chlorine forms light-sensitive coatings that register images on films.
Value:
The
value of silver varies from day to day. On August 12th 2004 it was
U.S. $ 6.65 a troy oz.
PLATINUM
(PGMs)
Atomic
number 78 Atomic weight 195.09
Atomic
symbol Pt. Melting point 1,769 C
Tensile strength 14kg/mm2 Boiling point 3,827 C
Density 21.45g/cm3
HISTORY:
The name Platinum derives from the Spanish word “ platina “ meaning “
little silver” Although platinum is regarded as a “new” metal in its present
form, it has a long history. Ancient Egyptians and Pre-Columbian Indian
civilizations already valued it as a very important element. The modern
discovery of platinum is attributed to the Spanish conquerors in the 17th
century. Spaniards had discovered alluvial deposits of the rare white metal
when they were mining in search for gold in the Choco region in Colombia.
Paradoxically, they considered platinum as a nuisance for their mining of gold.
It seems that the British chemist W. H. Wollaston was the first person to
obtain a sample of pure platinum in the early 1800s. The techniques used by
Wollaston in the seperation of PGMs are considered to be the basis for modern
platinum metallurgy.
PROPERTIES & SOURCE
Platinum is one of the densest and heaviest metals, highly malleable,
soft and ductile. It is extremely resistant to oxidation and to corrosion of
high temperatures or chemical elements as well as a very good conductor of
electricity and a powerful catalyzing agent. Platinum is soluble only in aqua
regia. This precious metal has a silvery-white color and does not tarnish.
Platinum, when found, is fairly impure. It is always associated with small
amounts of other elements, such as gold, copper, nickel, and iron and many
times contains the rare heavy metals iridium, osmium, rhodium and palladium.
Most platinum contains traces of iron, which may cause it to be slightly
attracted to magnetic fields.
USES
Platinum is very resistant to corrosion. It is used to make jewelry,
wire electrical contacts and laboratory vessels. Platinum expands at nearly the
same rate as soda-lime-silica glass, so it is used to make sealed electrodes in
glass systems. Platinum is used to coat nose cones on missiles, jet engine fuel
nozzles and other devices that must operate reliably for long periods of time
at high temperatures. Platinum is also used in a device called a catalytic
converter, a device found in the exhaust systems of most cars. Platinum anodes
are used in cathodic protection systems to prevent ships, pipelines and steel
piers from corroding in salt water.
Value:
The value of platinum varies from day to day. On August 12th
2004 it was U.S. $851.00 a troy oz.
BASE METALS THEIR USES AND VALU
MOLYBDENUM:
Atomic Number: 42 Atomic Radius: 136.2 pm
Atomic Symbol: Mo. Melting Point: 2623 C
Atomic Weight: 95.94 Boiling Point:
4639 C
Oxidation States: 6
HISTORY:
(Gr. Molybdos:lead) Before Scheele recongnized molybdenite as a distinct
ore of a new element in 1778, it was confused with graphite and lead ore. The
metal was prepared in impure form in 1782 by Hjelm. Molybdenum does not occur
natively, but is obtained principally from molybdenite.
SOURCES:
Molybdenum is usually found in porphyry granite deposits in North
America. It is also recovered as a by-product of copper and tungsten mining
operations. The metal is prepared from the powder made by the hydrogen
reduction of purified molybdic trioxide or ammonium molybdate.
PROPERTIES:
The metal is silvery white, very hard, but is softer and more ductile
than tungsten. It has a high elastic modulus, and only tungsten and tantalum,
of the more readily available metals, have higher melting points. It is a
valuable alloying agent, as it contributes to the hardenability and toughness
of quenched and tempered steels. It also improves the strength of steel at high
temperatures.
USES:
It is used in certain nickel-based alloys. The metal is also used in
nuclear energy applications and for missile and aircraft parts. Molybdenum is
valuable as a catalyst in the refining of petroleum. It has found applications
as a filament material in electronic and electrical applications. Molybdenum is
an essential trace element in plant nutrition. Ultra-high strength steels with
minimum yield points up to 300,000 psi. contain molybdenum in amounts from 0.25
to 8%.
At the present time there is a world shortage of molybdenum.
VALUE:
Molybdenum is trading around U.S. $16.00 per pound.
ZINC:
Atomic Number: 30 Atomic Radius:
133.2 pm
Atomic Symbol: Zn. Melting Point: 419.5 C
Atomic Weight: 65.38 Boiling Point: 907 C
Oxidation States: 2
HISTORY:
(German Zink, of obscure orgin) Centuries before zinc was rscognized as
a distinct element, zinc ores were used for making brass. Tubal-Cain, seven
generations from Adam is mentioned as being an “instructor in every artificer
in brass and iron”. An alloy containing 87% zinc has been found in prehistoric
ruins in Transylvania. The metal was rediscovered in Europe by Marggraf in
1746. He demonstrated that zinc could be obtained by reducing calamine with
charcoal.
SCOURCES:
The principal ores of zinc are sphalerite (sulfide), smithsonite
(carbonate), calamine (silicate), and franklinite (zinc, manganese, iron oxide.
Zinc deposits are often in skarns associated with sphalerite and franklinite.
PROPERTIES:
Zinc is a bluish-white, lustrous metal. It is brittle at ordinary temperatures
but malleable at 100 to 150 C. It is a fair conductor of electricity, and burns
in air at high red heat with evolution of white clouds of the oxide. It
exhibits superplasticity. It has unusual electrical, thermal, optical, and
solid-state properties that have not been fully investigated.
USES:
The metal is employed to form numerous alloys with other metals. Brass,
nickel silver typewriter metal, commercial bronze, spring bronze, German
silver, soft solder, and aluminum solder are some of the more important alloys.
Zinc is also used extensively to galvanize other metals such as iron to prevent
corrosion. Zinc oxide is a unique and very useful material for modern
civilization. Zinc sulfides is used in making luminous dials, X-ray and TV
screens, and fluorescent lights.
VALUE:
Zinc is trading around U.S. $0.048 per pound.
LEAD – THE ELEMENT:
HISTORY:
Lead is one of the first metals to have been used by humans, with uses
dating back to 6500 BC. Ancient lead pipes have been discovered in Egypt dating
to the time of the Pharaohs, who also used lead in the glazes on their pottery.
SOURCES:
Present when the earth was formed , lead is a naturally occurring
element. It is usually associated with other minerals, notably zinc, silver and
copper. Trace amounts of other elements, including gold, are some times found
with lead ore. The most common lead ore is galena, or lead sulfide.
PROPERTIES:
Lead is indispensable to many industries because of its natural
properties:
Mass
Malleability
Low melting point
Corrosion resistance
Electrical properties
Long life
Lead is essential to the production of many highly technical products,
from fetal monitors to fiber optics.
USES:
Without the use of lead solders and leaded glass you would not be able
to safely sit in front of your computer. Lead-based materials are facilitating
the development of hyper fast computers and high definition TV, as well as
cathode ray tubes used in viewing screens for television, computers and radar.
Nasa’s Space Shuttle uses lead-alloy solder. The space program relies heavily
on lead products. Almost 80% of all the lead now used in the U.S. is for the
production of lead-acid batteries. Lead is an outstanding material for
radiation shielding. Some of the worlds finest china is glazed with lead,
including the official White House dinnerware.
VALUE:
Lead is trading around U.S. $0.042 per pound.
BISMUTH:
Atomic Number: 83 Atomic Radius: 155 pm
Atomic Symbol: Bi Melting point: 271.4 C
Atomic Weight: 208.9804 Boiling point: 1564 C
Oxidation States: 5, 3
HISTORY:
(Ger. Weisse Masse, white mass; later Wisuth and Bisemutum) In early
times bismuth was confused with tin and lead. Claude Geoffroy the Younger
showed it to be distinct from lead in 1753.
PROPERTIES:
It is a white, crystalline, brittle metal with a pinkish tinge. It
occurs in a native state. Bismuth is the most diamagnetic of all metals, and
the thermal conductivity is lower than any metal, except mercury. It has a high
electrical resistance, and has the highest Hall effect of any metal (i.e.,
greatest increase in electrical resistance when placed in a magnetic field).
SOURCES:
The most important ores are bismuthinite or bismuth glance and bismite.
Bismuth is often associated with lead, zinc ores when tin and cadmium are
present. Peru, Japan, Mexico, Bolivia, and Canada are major bismuth producers.
Much of the bismuth produced in the U.S. is obtained as a by-product in
refining lead, copper, tin, silver, and gold ores.
USES:
“Bismanol” is a permanent magnet of high coercive force, made of MnBi.,
by the U.S. Naval Surface Weapons Center. Bismuth expands 3.32% on
solidification. This property makes bismuth alloys particulary suited to the
making of sharp castings of objects subject to damage by high temperatures.
Bismuth is used in producing malleable irons and is finding use as a catalyst
for making acrylic fibers. Bismuth oxychloride is used extensively in
cosmetics. Bismuth subnitrate and subcarbonate are used in medicine.
VALUE:
Bismuth is trading around U.S. $3.70 per pound.
TIN:
Atomic Number: 50 Atomic
Radius: 140.5 pm
Atomic Symbol: Sn Melting Point:
231.93 C
Atomic Weight: 118.69 Boiling Point: 2602 C
Oxidation States: 4, 2
HISTORY:
(anglo- Saxton, tin; L. stannum) Known to the ancients.
SOURCES:
Tin is found chiefly in cassiterite (SnO). Most of the worlds supply
comes from Malaya, Bolivia, Indonesia, Zaire, Thailand, and Nigeria. The U.S.
produces almost none, although occurrences have been found in Alaska and
California. Tin is obtained by reducing the ore with coal in a reverberatory furnace.
PROPERTIES:
Ordinary tin is composed of nine stable isotopes; 18 unstable isostopes
are also known. Ordinary tin is a silver-white metal, is malleable, somewhat
ductile, and has a highly crystalline structure. Due to the breaking of these
crystals, a “tin cry” is heard when a bar is bent.
USES:
Alloys of tin are very important. Soft solder, type metal, fusible
metal, pewter, bronze, bell metal, Babbitt metal. White metal, die casting
alloy, and phosphor bronze are some of the important alloys using tin. Tin
resists distilled sea and soft tap water, but is attacked by strong acids,
alkalis, and acid salts. Most window glass is now made by floating molten glass
on molten tin (float glass) to produce a flat surface. (Pilkington process).
Magnets, made of tin-niobium wire, weigh only a few pounds and produce magnetic
fields that, when started with a small battery, are comparable to that of a 100
ton electromagnet operated continuously with a large power supply.
VALUE:
Tin is trading around U.S. $4.15 per pound.
SEMI-PRECIOUS AND PRECIOUS STONES
JADE:
The word Jade(as pronounced and spelled in modern English) is ultimately
derived from the 16th century Spanish name for this gemstone, la
piedra de la ijada (literally, “stone for the lions”,pronounced ee-HA-da).
Jade was first worked in prehistoric times in China (3000-4000 B.C.)
during the late Neolithic or New Stone Age. An abundance of jade has been found
at archaeological sites which immeadtely precede the Bronze Age. The Chinese
have never lost their fondness for objects crafted from this gemstone, and the
Far East is still the primary area involved in manufacture and commerce in jade
art and jewelry. That Jade was highly prized in the past and had great value is
indicated by its occurrence in burial sites of persons of affluence and high
social status. The semi-precious gemstone known as jade is actually two
different mineral species with similar gross physical properties. Formed under
the intense heat and pressure of regional metamorphism, they are fined grained
aggregates of microscopic crystals arranged in tough compact structure.
Nephrite is the more common variety of jade in the western hemisphere
where it was utilized by the advanced pre-Columbian cultures of the Mayas,
Aztecs, and Incas. Central American nephrite is the form of the mineral that
was brought to Europe in the early 16th century. It is a member of
the amphibole family, has a hardness of 6-6.5 and has a complex hydrated
calcium-iron-magnesium silicate composition. In addition to its occurrence in
the Americas it has also been found in New Zealand and eastern Asia. Jade was
very valuable to the Aztecs as indicated by Montezuma’s presentation to the
conquistador Cortez of a gift of jade for the king of Spain. He commented to
Cortez that a fine piece of jade was worth two loads of gold.
VALUE:
Depending on quality B.C. Nephrite Jade is worth from U.S. $2.50 to
$25.00 per pound.
DIAMONDS:
Diamond. The mere mention of the word fills the mind with a multitude of
concepts and images. Diamond is a mineral. A pure crystalline substance, the
transparent form of pure carbon. Diamond is something superb, the peerless
“king of gems” that glitters, dazzles, and symbolizes purity and strength.
Diamond is for engagement and the 75th wedding anniversary, for a
commitment to never-ending love. Diamond is indomitable, the hardest surface
known. Diamond is exotic, formed in Earth’s interior and shot to the surface by
extraordinary volocanoe’s. A diamond is likely the oldest thing you will ever
own, probably 3 billion years in age, fully two thirds the age of the Earth.
Diamond is a strategic and high-tech super material for our technological
society. Diamond is a shape with an extraordinary value.
VALUE:
Depending on quality a diamond is worth from U.S. $100.00 to $1,000.00’s
before being cut.