| |
The results from this prospecting program confirms the presence of wide zones of rare earths minerals, notably Manganese (Mn), Magnesium (Mg), Scandium (Sc), Strontium (Sr) and Vanadium (V), at or near surface with economical commercial potential.
In addition to the aforementioned minerals the assay results 31 additional minerals precious and none precious including Potassium (K), Thorium (Th), Titanium (Ti), Aluminum (Al) and Iron (Fe) in economical commercial quantities.
All of these minerals have significant economic value and given that these wide zones are at or near surface, they are amenable to open pit mining.
The property is easily accessible via the Interstate Highway 15 and State Highway 257 which has a location advantage of a railroad running along side.
The results from the completed Phase 1 Assay report are as follows:
Mineral grading
4.9683 g/t Vanadium, 1.1847 g/t Nickel, 3.1920 g/t Zinc, 0.7644 g/t Thorium, 1.2546 g/t Copper, 0.3822 % Uranium, 1.5287 g/t Chromium, 0.6600 % Potassium, 0.3822 g/t Gallium, 0.7644 g/t Lanthanum, 0.6115 g/t Scandium, 4.9683 g/t Vanadium, 0.3822 g/t Thallium, 15.2870 g/t Strontium, 0.0191 g/t Cadmium, 6.0221 % Calcium, 2.2415 % Magnesium, 0.7644 g/t Cobalt, 12.3385 g/t Barium, 34.0654 % Manganese, 0.3943 % Titanium, 0.9172 % Copper, 40.8928 % Phosphorous, 4.3563 % Aluminum, 0.1672 % Arsenic, 4.5013 % Sulfur and 4.7580 % Iron.
Rare Metals and Rare Earth Elements - Demand, Uses and Supply
Demand for rare metals and rare earth elements is soaring because of consumer demand for more fuel-efficient cars, alternative energy technologies such as fuel cells, the nuclear power industry for both practical and experimental utilization, rechargeable batteries, lasers, hydrogen storage, super alloys as used in the aerospace industry, computer chips, cell phones, digital cameras, plasma televisions, computer screens, permanent magnets as used in electric-hybrid vehicles and in the conductor industry for many of the new "Green" technologies, etc.
By some estimates, 30% of the world's consumption of rare earths is related to cars, a figure that could grow as more consumers shift to hybrid vehicles, which typically contain more than 60 pounds of rare-earth products.
China recently announced a reduction in the exports of Rare Earth Minerals from their mines, because the government in Beijing may be trying to encourage the development of more value-added processes at home. This decision will considerably reduce the supply for buyers outside of China while world demand is in full growth. Plants in China are competitive, have traditionally kept prices low for overseas buyers in the past. The Chinese government imposed tariffs/export restrictions causing concern for foreign buyers of the minerals. Potential bottleneck in supply is forcing some overseas buyers to consider shifting their own plants to China to ensure secure and cheap raw materials. Regardless prices will remain strong because of higher demand that China alone cannot meet.
Manganese - Prices, Uses and Demand
Manganese (Mn) is essential to iron and steel production by virtue of its sulfur-fixing, deoxidizing, and alloying properties. Steelmaking, including its iron-making component, accounts for most domestic manganese demand, presently in the range of 85% to 90% of the total. Manganese ferroalloys, consisting of various grades of ferromanganese and silico-manganese, are used to provide most of this key ingredient to steelmaking. Products for construction, machinery, and transportation are leading end uses of manganese. Manganese also is a key component of certain widely used aluminum alloys and, in oxide form, dry cell batteries. As ore, additional quantities of manganese are used for such non-metallurgical purposes as plant fertilizers, animal feed, and colorants for brick.
Current market price is USD$2.00 per ounce. The Phase 1 assay report indicated approximately 2 billion ounces on our properties.
Magnesium - Prices, Uses and Demand
Magnesium compounds, primarily magnesium oxide, are used mainly as refractory material in furnace linings for producing iron and steel, nonferrous metals, glass, and cement. Magnesium oxide and other compounds also are used in agricultural, chemical, and construction industries. Magnesium metal's principal use is as an alloying addition to aluminum, and these aluminum-magnesium alloys are used mainly for beverage cans. Magnesium alloys also are used as structural components of automobiles and machinery. Magnesium also is used to remove sulfur from iron and steel.
Current market price is USD$2.00 per ounce. The Phase 1 assay report indicated approximately 3.5 billion ounces on our properties.
Strontium - Prices, Uses and Demand
Strontium consumption in television glass, estimated strontium consumption in ceramics and glass manufacture remained one of the top end-use industries through its use in ceramic ferrite magnets and other ceramic and glass applications. The use of strontium nitrate in pyrotechnics was estimated to equal the use of strontium in ferrite magnets.
Current market price is USD$5.00 per ounce. The Phase 1 assay report indicated approximately 1 billion ounces on our properties.
Scandium - Prices, Uses and Demand
Scandium uses in baseball and softball bats remained popular high-end sports equipment, and sports equipment remained the leading use of scandium. New demand is expected to come from future fuel-cell markets and aerospace applications.
Scandium’s use in metal halide lighting continued. Scandium, as the metal or the iodide, mixed with other elements, was added to halide light bulbs to adjust the color to simulate natural sunlight. Future development of alloys for aerospace and specialty markets is expected. Scandium's availability from Kazakhstan, Russia, and Ukraine increased substantially in 1992, after export controls were relaxed, and sales continue to provide the Western World with most of its scandium alloys, compounds, and metal. China also continued to supply scandium compounds and metal to the U.S. market.
Current market price is USD$70.00 per gram. The Phase 1 assay report indicated approximately 14 million ounces on our properties.
The Company property is also well situated for the mining of bulk ores, located by a railroad and State and Interstate Highways.
ALS Cemex is the qualified assay agent under National Instrument AAS and ICP-AES. All of the samples herein were analyzed by ALS Cemex Labs.
Tahoe Gold Mining and Refining Company is very pleased with the results of this successful Assay report and is presently evaluating all of the data from this Phase 1 Assay Report before commencing an aggressive Phase 2 drilling program. The Company is also anxiously awaiting assay results from its 100 % owned high-grade gold and rare earths White Eagle Mine Project. Results will be announced when received and verified.
About Tahoe Gold Mining and Refining Company
Tahoe Gold Mining and Refining Company (tahoe-gold.com) is a mineral exploration and development company focused on precious metal and rare earth mineral mining properties with economic potential, with the aim of bringing such properties to commercial production. The Company's portfolio of properties is primarily located in the prolific Western United States of America in Arizona, New Mexico, Texas and Utah. The properties include - (i) 100 % of the Fillmore project, (ii) 100 % of the White Eagle project, (iii) 100% of the Yellow Rose project, and (iv) 100 % of the Gold Nugget project.
Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company's management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties.
|
ir[.]tahoe-gold.com 
