Maxam Gold Corp. Announces Evidence of Platinum Group Metals.EAST PEORIA, Ill.--(BUSINESS WIRE)--Aug. 21, 1997--MAXAM GOLD CORP. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:MXAM) Thursday announced that Hewlett Mineral Management, Maxam consultants, reports evidence of Platinum Group Metals (PGMs) in the Peoria Seven and Peoria South ore bodies. Recent fire assays indicate minor amounts of Platinum and Palladium in the ore associated with nickel, cobalt, and chromium. Based on: 1. The presence of Platinum and Palladium. 2. The presence of nickel, cobalt and chromium elements normally associated with the PGMs. 3. The recent discovery that MAXAM'S Peoria Seven and Peoria South properties are in near proximity to an eroded porphyry copper deposit porphyry copper deposit A large body of igneous rock, having distinct crystals in a relatively fine-grained base, that contains chalcopyrite and other sulfide minerals. . 4. The history of PGMs having been recovered from some of the porphyry Porphyry, Greek scholar Porphyry (pôr`fĭrē), c.232–c.304, Greek scholar and Neoplatonic philosopher. He studied rhetoric under Cassius Longinus and philosophy under Plotinus. copper mines in Arizona over the past 30 years. MAXAM, as a result of these occurrences, has budgeted funds to initiate an expanded assay program of existing drill sample splits to include Nickel Sulfide Fire Assays and Instrumental Thermal Neutron Activation analyses, and Inductively Coupled Plasma An inductively coupled plasma (ICP) is a type of plasma source in which the energy is supplied by electrical currents which are produced by electromagnetic induction, that is, by time-varying magnetic fields. - Spectrometry (ICP-MS ICP-MS Inductively Coupled Plasma Mass Spectroscopy ), and X-ray Fluorescence Spectroscopy. (XRF XRF X-Ray Fluorescence XRF X-Ray Flash XRF Cross Reference XRF Extended Recovery Facility (IBM) XRF Extended Reliability Feature XRF Cross Reference File XRF External Reference ) This program will more adequately define quantities of each of the Platinum Group Metals. MAXAM'S recovery system developed in conjunction with Hewlett Mineral Management is designed to recover Gold, Silver, PGMs, and most of the other elements in the ore. This extensive assay program and analysis will be coordinated by Hewlett Mineral Management with assays conducted at: Jacob's Assay Office - Tucson, Ariz. Act Skyline Labs - Tucson, Ariz. ActLabs - Wheat Ridge, Colo. Activation Labs - Ancaster, Ontario, Canada For details of the Hewlett Mineral Management recommendations, refer to the MAXAM Web Site. -0- NOTE TO EDITORS: 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. Statement - Actual results from the above disclosures could differ materially from projection, as results from economic factors, geological factors, operations factors, government regulations, or factors relied upon from independent sources, may either negatively or positively impact exploration or mining progress. CONTACT: Maxam Gold Corp. Dale Runyon, 309/699-8725 Fax: 309/699-1275 Al Hubbard, 972/625-6430 Fax: 972/370-0632 |
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