Altai Resources announces acquisition of major antimony oxide deposit in Turkey.TORONTO--(BUSINESS WIRE)--May 9, 1995--Altai Resources Inc. (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). , ATI (ATI Technologies Inc., Markham Ontario, http://ati.amd.com) A leading manufacturer of graphics chips and display adapters. Founded in 1985 by K. Y. Ho, Benny Lau and Lee Lau, ATI chips and boards are widely used by OEMs. ) announces that it has acquired outright a property of 512 hectares (1,280 acres) hosting a large antimony antimony (ăn`tĭmō'nē) [Lat. antimoneum], semimetallic chemical element; symbol Sb [Lat. stibium,=a mark]; at. no. 51; at. wt. 121.75; m.p. 630.74°C;; b.p. 1,750°C;; sp. gr. (metallic form) 6. oxide deposit in the province of Afyon, southwestern Turkey. The deposit is accessible by an all-weather road; and water and electricity are available locally. Artisanal (small-scale) open pit mining of the deposit has been going on intermittently in·ter·mit·tent adj. 1. Stopping and starting at intervals. See Synonyms at periodic. 2. Alternately containing and empty of water: an intermittent lake. for the past thirty years. The product, containing above 15% antimony metal, is sold to the end-user in the city of Gediz, 190 kilometres (120 miles) to the west. The antimony oxide deposit which, based on drill information, varies in thickness from 15 to 30 metres (40 to 100 feet) and averages 20 metres (65 feet), is exposed in the eastern part of the property over a width of 300 metres (1,000 feet) and a strike length of 310 metres. Dr. O. Ozkocak, Altai's consultant, has calculated the visible mineral inventory at 4.5 million metric tonnes averaging 3.4% antimony. The upper 5 to 10 metres of the deposit is reported to grade 10 to 12% antimony whereas the lowest 5 to 10 metres averages less than 1% antimony. Therefore, the higher grade (plus 10% antimony) material may aggregate to 1.5 million metric tonnes. The Consultant reports that there is a waste pile (from antisanal mining) of about 1.5 million metric tonnes that would perhaps average 3.5 to 4% antimony adjacent to the present open pit. There are no harmful impurities in this deposit. To the west, the deposit is covered by a thin layer of limestone. Dr. Ozkocak has estimated the geological potential of the unexposed portion of the deposit at 25 million metric tonnes. The deposit contains antimony sulphide sulphide: see sulfide. below the oxide layer. Antimony sulphide needs to be roasted roast v. roast·ed, roast·ing, roasts v.tr. 1. To cook with dry heat, as in an oven or near hot coals. 2. To dry, brown, or parch by exposing to heat. 3. to transform it to oxide for the process of obtaining antimony metal. Hence, Altai's main emphasis will be on the oxide material. Antimony is consumed mainly in the manufacture of flame retardants Flame retardants are materials that inhibit or resist the spread of fire. Naturally occurring substances such as asbestos as well as synthetic materials, usually halocarbons such as polybrominated diphenyl ether (PBDEs), polychlorinated biphenyls (PCBs) and chlorendic acid , batteries, ammunition and ceramics. Antimony metal presently sells for about US$1.50/pound. CONTACT: Altai Resources Niyazi Kacira, 416/869-1338 |
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