Can-Cal Resources Ltd. Announces Testing Results.Business Editors & Mining Writers LAS VEGAS--(BUSINESS WIRE)--Aug. 11, 2000 Ron Sloan, president of Can-Cal Resources Ltd. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CCRE CCRE Conseil des Communes et Régions d'Europe CCRE Computer Coalition for Responsible Exports CCRE Cross Cumulative Residual Entropy CCRE Constrained Chain Rule Expansion ), today provided an update regarding the current status of research and testing being conducted during the Care and Custody Program with research and development company CAL002. Can-Cal Resources has obtained an option to acquire the proprietary processes, including fluxes, developed by that company for the treatment of ores and the extraction of precious metals Precious Metals Valuable metals such as gold, iridium, palladium, platinum, and silver. Notes: Investing in precious metals can be done either by purchasing the physical asset, or by purchasing futures contracts for the particular metal. for 200,000 shares of Can-Cal's common stock. Can-Cal can exercise the option on or before Aug. 31, 2000. If the completed testing results and certified check A written order made by a depositor to a bank to pay a certain sum to the person designated—the payee—which is marked by the bank as "accepted" or "certified," thereby unconditionally promising that the bank will pay the order upon its analyses continue to be positive, Can-Cal intends to exercise the option and obtain ownership of those processes and any improvements thereto there·to adv. 1. To that, this, or it. 2. Archaic In addition to that; furthermore. thereto Adverb Formal 1. to that or it 2. . Different extraction processes have been developed and tested on Can-Cal's volcanic cinders cin·der n. 1. a. A burned or partly burned substance, such as coal, that is not reduced to ashes but is incapable of further combustion. b. A partly charred substance that can burn further but without flame. from its Pisgah Property. If Can-Cal exercises the option, it will, with CAL002, seek to obtain a suitable laboratory and production facility. The results reported in the previous news releases of June 2 and June 26, 2000, were obtained from the ongoing Care and Custody Program with CAL002 and under the supervision of independent geologist/ geochemist Bruce Ballantyne. Assays were performed by Rocky Mountain Geochemical Inspectorate in·spec·tor·ate n. 1. The office or duties of an inspector. 2. A staff of inspectors. 3. An inspector's district. inspectorate Noun 1. America Corp. of Reno, Nev., and Colorado Assay Co. of Denver. The data from these two news releases is summarized in accompanying Table One. These data comprise results from Test A, Batch One (B1) using Flux One (F1).
TABLE ONE
CAL002 TEST: PISGAH CINDERS
(Electric Assay Furnace, Batch One, Flux One)
STOCKPILE POWDERED DORE TEST A1 TEST A2 GOLD GOLD
SCREENED CINDERS BUTTON COLORADO CHECK OUNCES OUNCES
CINDERS SAMPLE TOTAL ASSAY: ROCKY PER PER
SAMPLE WEIGHT SAMPLE SAMPLE MTN: TON TON
SITE GRAMS WEIGHT PORTION DORE TEST A1 TEST A2
NUMBER TEST A DORE SAMPLE COLORADO ROCKY
GRAMS GRAMS GRAMS ASSAY MTN.
52801
JTF1B1 30.094 29.636 4.2539 25.6821 0.505 0.30
52811
JTF1B1 30.068 28.864 4.8918 23.9722 0.440 0.70
52823
JTF1B1 30.015 28.963 5.2495 23.7135 0.350 0.30
52834
JTF1B1 30.028 30.038 4.6030 25.4350 0.420 0.11
52845
JTF1B1 30.001 29.994 6.7292 23.2648 0.29 0.40
STOCKPILE PALLADIUM PALLADIUM
SCREENED OUNCES OUNCES
CINDERS PER PER
SAMPLE TON TON
SITE TEST A1 TEST A2
NUMBER COLORADO ROCKY
ASSAY MTN.
52801
JTF1B1 3.79 3.90
52811
JTF1B1 -- 0.22
52823
JTF1B1 6.65 4.31
52834
JTF1B1 -- 0.20
52845
JTF1B1 2.96 3.84
Pisgah Hill stockpiled cinder cin·der n. 1. a. A burned or partly burned substance, such as coal, that is not reduced to ashes but is incapable of further combustion. b. A partly charred substance that can burn further but without flame. test material has been collected by Ballantyne and is in his care and custody. The test material was taken from five established separate, sample locations labeled as sample sites 52801, 52811, 52823, 52834 and 52845, respectively. Can-Cal Resources has 100 percent ownership of 120 acres of patented mineral claims that comprise the Pisgah Hill volcanic cinder property. The samples were taken from previously screened, fine-grained volcanic cinder material now stockpiled on the property. During all testing of extraction processes with CAL002, the fine-grained volcanic cinder material from each of the five sample sites was ground into a fine powder by Ballantyne. For Test A, approximately 30 grams (see Table One) of the powdered volcanic cinder material for each sample site was added to the inquart-collector and Flux One (F1) and then thoroughly mixed. The sample charges were each placed into a new furnacing crucible crucible, vessel in which a substance is heated to a high temperature, as for fusing or calcining. The necessary properties of a crucible are that it maintain its mechanical strength and rigidity at high temperatures and that it not react in an undesirable way with , with each charge being furnaced-fired separately in a standard electric assay furnace furnace, enclosed space for the burning of fuel. There are many kinds of furnaces, the type depending upon the fuel and the use to which the heat produced within it is put. Most familiar are the furnaces used in the heating of buildings. . The resultant Dore button (inquart-collector plus extracted metals from the cinders) and the slag were separated after each pour. The precious-metal-bearing Dore button and slag from each sample was then weighed and kept in Ballantyne's custody. The five Test A, Batch One, Dore buttons produced using F1 were then couriered to Colorado Assay Co., Denver. Colorado Assay Co. separated a portion of each of the Dore buttons and then completed its determination of Au, Pd and Pt contents. The sample weights of Dore used in this Test A1 ranged from approximately 4 to 6 grams each (see Table One). The assay data reported by Colorado Assay (Test A1) is calculated using the total weight of each Dore button. After completion of the A1 testing, the remaining Dore buttons were returned to Ballantyne. They were then couriered to Rocky Mountain Geochemical Inspectorate, Reno, for Dore-bullion assay check analyses -- namely, Test A2 (see Table One). During Test A2, each of the five Dore buttons, ranging in weight from approximately 23.7 to 25.6 grams (Table One), was dissolved dis·solve v. dis·solved, dis·solv·ing, dis·solves v.tr. 1. To cause to pass into solution: dissolve salt in water. 2. separately in acid. This first acid digestion digestion Process of dissolving and chemically converting food for absorption by cells. In the mouth, food is chewed, mixed with saliva, which begins to break down starches, and kneaded by the tongue into a ball for swallowing. resulted in both soluble soluble /sol·u·ble/ (sol´u-b'l) susceptible of being dissolved. sol·u·ble adj. Capable of being dissolved, especially easily dissolved. (into the acid solution) and insoluble insoluble /in·sol·u·ble/ (in-sol´u-b'l) not susceptible of being dissolved. in·sol·u·ble adj. Not soluble. (residue residue n. in a will, the assets of the estate of a person who has died with a will (died testate) which are left after all specific gifts have been made. Typical language: "I leave the rest, residue and remainder [or just residue] of my estate to my grandchildren. ) products. The solution of solubles solubles liquid containing soluble and very fine suspended particles in water or solvent. Mostly by-products of fermentation for the manufacture of alcohol. A good dietary protein supplement. was analyzed an·a·lyze tr.v. an·a·lyzed, an·a·lyz·ing, an·a·lyz·es 1. To examine methodically by separating into parts and studying their interrelations. 2. Chemistry To make a chemical analysis of. 3. while the insoluble residue material was digested in a stronger acid until it was totally dissolved. Therefore, during Test A2 each of the Dore buttons (produced from 30 grams of cinder material and the inquart-collector, which weighed approximately 30 grams for each sample, plus the Flux One component) was completely dissolved. The resultant solution from the insoluble digestion as well as the soluble solution analyses were determined using ICP (1) (Internet Cache Protocol) A protocol used by one proxy server to query another for a cached Web page without having to go to the Internet to retrieve it. See CARP and proxy server. instrumentation. The ICP determinations were completed with internal laboratory control reference standards for Au, Pt and Pd. Both the soluble and insoluble resultant solution data are used to calculate the total contained precious-metal content for each element. The calculation was based on the total weight of the Dore button, which was completely digested during the A2 Test and is now reported in Table One. The A2 testing indicated that most of the gold contained in the Batch One, Flux One, Test A Dore buttons (as extracted from approximately 30 grams of powdered cinder material) was reported from the insoluble residue portion of the first acid digestion. Palladium palladium, chemical element palladium [Gr. Pallas, goddess of wisdom], metallic chemical element; symbol Pd; at. no. 46; at. wt. 106.42; m.p. 1,554°C;; b.p. 2,970°C;; sp. gr. 12.02 at 20°C;; valence +2, +3, or +4. was almost totally proportioned into a soluble form into the first digestion solution, while platinum appeared to report approximately equally between the first acid solution solubles and the insoluble residue material. The two reporting laboratories for Test A, Batch One, Flux One Dore button analyses used different assaying methods, but the same five precious-metal-bearing Dore buttons were used in both the A1 and A2 lab assaying. Can-Cal Resources interpreted these test data (A1 and A2) as being significant in its extracted precious-metal contents and in the consistency in the assays from the two specialized bullion-Dore assaying laboratories. Can-Cal Resources then continued with the Care and Custody Program testing with CAL002. The research and development company CAL002 and Ballantyne conducted Test B on four separate 20-pound samples of powdered Pisgah Hill stockpiled cinder material collected from four of the five established sample sites. A series of furnacing tests (Test B) utilizing an induction furnace An induction furnace is an electrical furnace in which the heat is applied by induction heating of a conductive medium (usually a metal) in a crucible around which water-cooled magnetic coils are wound. were conducted at an induction furnace manufacturing facility, instead of an electric assay furnace, which was utilized in Test A and Tests C and D. Induction furnace (IF) Test B required CAL002 to develop a different flux (F2) from that used in Test A (F1). During Test B for each of four Pisgah Hill stockpiled sample sites, two separate 10- pound powdered cinder material charges from each sample site were induction-furnaced with the inquart-collector and the Flux 2 component. Each of the induction furnace Test B pours produced a "cone- shaped" Dore product and slag. Each of the Dore cones and its slag was taken into custody by Ballantyne. The precious-metal-bearing Dore cones produced from the induction-furnacing and F2 extraction ranged in weight from approximately 9 to 11.75 pounds (each sample charge used 10 pounds of powdered cinder material). The Dore cones were taken to the CAL002 facility, where they were remelted in new crucibles in an electric assay furnace. The molten Dore was repoured into rectangular rec·tan·gu·lar adj. 1. Having the shape of a rectangle. 2. Having one or more right angles. 3. Designating a geometric coordinate system with mutually perpendicular axes. "platter-shaped" moulds to form plates suitable for drilling (less than 1/2-inch thick). Each of the Dore plates was then drilled by Ballantyne to produce metal Dore shavings shavings curly wafers of wood produced when trimming wood with a plane; used as bedding for horses. See also sawdust. and drill windings from hundreds of holes for each Dore plate. The entire accumulation of Dore metal shavings taken from the two plates from each sample site was combined to create a single homogeneous The same. Contrast with heterogeneous. homogeneous - (Or "homogenous") Of uniform nature, similar in kind. 1. In the context of distributed systems, middleware makes heterogeneous systems appear as a homogeneous entity. For example see: interoperable network. sample for that site. These shavings were then separated into four equal portions, each weighing in excess of one pound (454 grams). The drilled plates and the shavings are kept in the custody of Ballantyne. Discussions with Rocky Mountain Geochemical and Ballantyne have resulted in Dore metal assaying methodology refinements. A different "new" geochemical Dore assay method was tested on Test B, Flux Two, Dore metal shavings from sample site 52845 JTIF JTIF JPEG Tagged Interchange Format (file extension, with full color spacing) 2. This induction-furnaced (IF) and Flux Two (F2) sample was also tested using the same conventional Dore assay method replicating those used for the data of Test A buttons reported in Table One. The comparative data for the two-assay methods for the single Test B sample is reported in Table Two. This data suggests that the "new" method accounts for greater Pd and Pt contents than the conventional assay method. The comparison of Table One and Table Two data also suggests that Test A, Flux One is superior in its ability to extract precious metals compared with Test B, Flux Two.
TABLE TWO
CAL002 TEST B: PISGAH CINDERS
(Induction Furnace, Flux Two)
STOCKPILED DORE METAL
SCREENED ROCKY INDUCTION FURNACE GRAMS PER TON OUNCES PER TON
CINDERS MOUNTAIN DRILLED PLATE
SAMPLE GEO- SHAVINGS
SITE NO. CHEMICAL WEIGHT, GRAMS PT PD AU PT PD AU
52845 "New" Dore
JTIF2 Assay
Method 24.1280 1.20 28.7 18.7 0.04 0.84 0.50
52845 Conventional
JTIF2 Dore Assay
Method 20.6674 0.774 15.4 26.8 0.02 0.45 0.78
The four Test B shaving samples are presently being assayed using the "new" Dore assay methodology. Rocky Mountain Geochemical has also commenced Au, Pd and Pt "new" Dore assay method determinations on five newly prepared Test A, Batch Two, 30-gram, Dore buttons produced using Flux One and electric furnacing. This CAL002 completed Batch Two (B2) run duplicates the components and conditions used for Test A Batch One. Preliminary results received from the insolubles produced using the "new" method on the five Batch Two, 30-gram, Test A Dore buttons report a range of gold contents from approximately 0.6 to 0.8 ounces per ton gold. The complete precious-metal, 30-gram, Dore button Test A, Batch Two, assay results using the "new" method will be released upon receipt of the certified See certification. assay reports from Rocky Mountain Geochemical. Thus far, however, it appears that Flux One (F1) has achieved greater results than Flux Two (F2). Another series of electric furnacing tests using one pound (454- gram) powdered volcanic cinder material and a different flux, Flux Three (F3), have been completed as Test C. This CAL002 series of electric assay furnacing tests also used an inquart-collector to produce "brick-shaped" precious-metal-bearing Dore bars Major gold mines process ore at the site of the mine, creating a low-purity gold metal. This metal is poured into dore bars, which are then transported to refineries for further purification. (approximately 1/4-inch thick) for each of the five established sample sites. These "brick-shaped" Dore bars are a suitable size for laboratory bench-top electrowinning testing. Test C Dore bars have been produced from each of the five sample sites of Pisgah Hill stockpiled cinder materials. Experimental extraction and collection of precious metals by electrowinning some of the Dore bars has commenced. The concentrated precious-metal "powder" recovered from the Test C bench-top laboratory electrowinning has been cuppelled into beads and supplied to Rocky Mountain Geochemical for certified analyses. Further electrowinning testing utilizing the one-pound Dore bars (Test C) is planned. Additional testing of Pisgah cinder material has commenced using a different process (Test D). Test D is different from Tests A, B and C in that no inquart-collector was used and a different flux (Flux Four, F4) is utilized during electric assay furnace roasting. The "slag-like" product is then subjected to extraction leaching leaching, method of extraction in which a solvent is passed through a mixture to remove some desired substance from it. A simple example is the passage of boiling water through ground coffee to dissolve and carry out the chemicals necessary for producing the beverage. . Continuing precious-metal extractive extractive /ex·trac·tive/ (-tiv) any substance present in an organized tissue, or in a mixture in a small quantity, and requiring extraction by a special method. ex·trac·tive adj. 1. tests and check analyses are planned using direct leaching of the roasted cinder material such as those processes developed for Test D. The Pisgah volcanic cinder cone cinder cone or ash cone Deposit around a volcanic vent, formed by rock fragments or cinders that accumulate and gradually build a conical hill with a bowl-shaped crater at the top. has recently been dated by the USGS USGS United States Geological Survey (US Department of the Interior) at 24,000 years old. This new date places the Pisgah volcanic-magmatic eruptive e·rupt v. e·rupt·ed, e·rupt·ing, e·rupts v.intr. 1. To emerge violently from restraint or limits; explode: My neighbor erupted in anger over the noise. 2. event in the "unique" "youngest" category as compared with other volcanic edifices in the district. In an effort to further document the ore mineralogy mineralogy Scientific study of minerals, including their physical properties, chemical composition, internal crystal structure, occurrence and distribution in nature, and origins or conditions of formation. and content of the Pisgah volcanic cinder material, Can-Cal Resources has entered into a contractual agreement with an internationally renowned precious-metal ore mineralogist min·er·al·o·gy n. pl. min·er·al·o·gies 1. The study of minerals, including their distribution, identification, and properties. 2. A book or treatise on mineralogy. to examine and document minerals present in the volcanic cinder material and to identify the possibly unique residence or hosts for precious metals. This detailed mineralogical min·er·al·o·gy n. pl. min·er·al·o·gies 1. The study of minerals, including their distribution, identification, and properties. 2. A book or treatise on mineralogy. study is an important step in assisting and establishing the metallurgical met·al·lur·gy n. 1. The science that deals with procedures used in extracting metals from their ores, purifying and alloying metals, and creating useful objects from metals. 2. and extraction protocols necessary for possible future development and production. Can-Cal Resources is committed to process methodology verification and cost-effective optimization of identification and extraction of precious metals from the Pisgah Hill patent claims. To date, the company's testing of cinder stockpile stock·pile n. A supply stored for future use, usually carefully accrued and maintained. tr.v. stock·piled, stock·pil·ing, stock·piles To accumulate and maintain a supply of for future use. material has been checked and rechecked by in-house assaying and certified independent, specialized, Dore-bullion, analytical laboratories. The board of Can-Cal Resources is pleased with the systematic and successful progress made to date. Can-Cal Resources is prepared to support continued progression toward economic extraction and production of precious metals directly from Pisgah Hill volcanic cinders. President's Remarks The Can-Cal board of directors felt it was necessary to provide the company's investors with a comprehensive explanation of the extensive assaying and extraction testing that has been conducted to date. Due to the unique characteristics of the Pisgah volcanic cinder property, several methods of testing have been examined to determine the best extraction methodology. It is the company's goal to select one or more of the processes suitable for the extraction of precious metals. The main objective of the Pisgah Program is to confirm the extraction technology and utilize the information in a production capacity. This press release is a confirmation of Can-Cal's commitment of relaying factual documentation of the company's progress and future commitments, with the main focus regarding certified precious-metal content and extractability. Forward-Looking Statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 provide a "safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " for forward- looking statements that are based on current expectations, estimates and projections, and management's beliefs and assumptions. Words such as "believes," "expects," "intends," "plans," "estimates," "may," "attempt," "will," "goal," "promising" or variations of such words and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and involve certain risks and uncertainties that are difficult or impossible to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. The company undertakes no obligation to update publicly any forward-looking statement, whether as a result of new information, future events or otherwise. Such risks and uncertainties include but are not limited to the availability of ore, the existence of precious metals in the ore available to the company in an amount that permits their production on an economic basis; the company's ability to drill holes and properly test and assay samples, and its ability to locate and acquire mineral properties that contain sufficient grades of precious metals and/or minerals; the company's ability to sell a portion or all of any of its properties to larger mining companies, to enter into agreements with larger mining companies to explore and possibly develop its properties, to produce precious metals on a commercial basis, the prices of precious metals, obtaining a mill or refinery to extract precious metals on an economic basis; the company's ability to maintain the facilities it currently utilizes, obtain permitting requirements for any mining and milling operations, pay the costs thereof and have good title to claims and equipment; and the company's ability to obtain financing necessary to maintain its operations. |
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