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NMC Inc. Makes Third-Party Assays and Valuation Report Available on Its Web Site at www.nmcinc.com
March 01, 2005 22:00:00 (ET)
LAS VEGAS, Mar 1, 2005 (BUSINESS WIRE) -- NMC Inc. (Pink Sheets: NMCX) today announced the availability on its Web site (www.nmcinc.com) of assays and valuation reports pertaining to its Arizona, California and Nevada properties. In making the assays and valuation reports available, the company provided a brief explanation of the history, purpose and methodology for assays used to determine the composition of its ore. All assays and valuations pertain to the company's ore in its present form.
Over the past 10 years, NMC Inc. has commissioned literally hundreds of assay reports for its three properties located in Arizona, California and Nevada. These assays have been preformed by independent third-party assayers. Reports have been used for a variety of purposes as part of the company's pre-purchase due diligence to provide a reasonable representation of the material, the overall valuation of the ore, the quantity of precious metals at different stages of production, litigation support, and equipment testing and calibration.
There are numerous assay methods for determining the existence of precious metals in any particular sample of ore, with some methods more suitable than others for recognizing certain types of minerals. As an example, assay for a complex ore such as the Platinum Group Metals (PGMs) is conducted differently from single-element assays. This is why assayers offer a variety of assay protocols.
Sample preparation will affect the quality of an assay. An insufficient or improper sample preparation renders improper results. The process of dissolving the sample and the effective separation and detection methods are critical in the analysis of precious metals.
For the evaluation of its ores, the company has adopted an assay procedure used by the third-party independent assayers. This is not a "proprietary" method, nor is it a "secret" method. The sample is pulverized to a -200 to 400 mesh (as a reference, common talcum powder is approximately -300 mesh). It is then placed in nitric acid and simmered at 205 degrees for 4 hours.
Next, hydrochloric acid is added at a ratio of 3 parts of hydrochloric acid to 1 part of nitric acid forming an aqua regia solution. This is simmered at 205 degrees for 20 hours. The result is that the sample is totally dissolved in 24 hours at 205 degrees. The solution is diluted with deionized water and placed in a high-resolution Inductive Coupled Plasma Spectrometer (ICP). The company owns two high-resolution ICPs, namely, a Leeman PS-1000 and a Leeman High Profile Plus. Each ICP can analyze 64 elements at the same time. Also, a high-resolution ICP has more clearly defined wavelengths and more separation between and among wavelengths for clearer identification of elements.
In the ICP, a controlled plasma flame is created by argon gas. The elements present in the sample are ionized and emit identifiable wavelengths. Great care must be exercised in identifying a particular wavelength representative of a specific element. Also, given the multiple-element nature of the sample, care is required to eliminate those wavelengths that may interfere with an accurate reading. There are virtually thousands of possible wavelength combinations. Each element has 20 to 40 wavelengths. The Leeman High Profile Plus has approximately 2,000 wavelengths pre-programmed and has additional wavelength capacity. The selection of appropriate wavelengths is both a science and an art.
To assist in the interpretive process, the U.S. Department of Commerce, Institute for Basic Standards, National Bureau of Standards, has published and adopted the "NBS Tables of Spectral-Line Intensities" as the source for the wavelength values of elements.
In addition to the above, the assayers used, and the company has adopted, a fire assay approach. The sample is pulverized to -200 to 400 mesh. It is then mixed with a standard flux including borax, flour, feldspar, silica and a "collector" of tin or nickel. It is then heated to a temperature of 2,950 degrees for 40 minutes and a bead is formed. This bead sample is prepared as stated above and placed in the ICP for analysis.
Management of the company emphasized that when reviewing its assays, it is useful to keep in mind that, by the very nature of the earth's crust, each sample will vary in the elements contained. The material is not homogenous. That is the reason that samples are taken from numerous locations on each of the three properties. Samples also have been mixed together from different locations on the same property to develop composite assays.
NOTE: To convert parts per million (PPM) to ounces per ton (OZ/ton), multiply PPM by .02917. (PPM x .02197 = OZ/ton).
NMC Inc. has interests in mining and ore processing. In addition to its Skull Valley (Ariz.) claims, the company owns seven mining claims of 20 acres each in Mesquite, Nev. and 17 mining claims on 340 acres in San Bernardino County, Calif., in all of which it owns 100% of the mineral rights.
Statements contained in this release that are not purely historical are forward-looking statements within the meaning of the Safe Harbor clause of the Private Securities Litigation Reform Act of 1995. These statements are based on information available to the company as of the date of this news release, and the company assumes no obligation to update or revise these forward-looking statements. Forward-looking statements are inherently uncertain, and the company's actual results may differ from management's expectations. Risks and uncertainties associated with forward-looking statements include without limitation, U.S. and foreign currency fluctuations, changes in environmental and mining regulations, delays in obtaining regulatory approvals, costs associated with processing ore concentrates, fluctuation in precious metals markets, general economic and business conditions, litigation and other factors. All subsequent forward-looking statements attributable to the company or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Financial estimates, whenever provided, either by the company or by third parties, are subject to change and are not intended to be relied upon as predictions of future operating results. NMC Inc. assumes no obligation to update or disclose revisions to such estimates.
SOURCE: NMC Inc.
Jordan Richard Assoc. LLC Madeleine Franco, 801-463-0300 ir@nmcinc.com
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