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Auxico Resources Announces Sampling Results From Colombia and Venezuela
MONTREAL, July 10, 2018 (GLOBE NEWSWIRE) -- Auxico Resources Canada Inc. (CSE:AUAG) is pleased to announce that it has entered into eight option agreements to a
About this update from Auxico Resources Canada, Inc.
[{"type":"text","content":" MONTREAL, July 10, 2018 (GLOBE NEWSWIRE) -- Auxico Resources Canada Inc. (CSE:AUAG) is pleased to announce that it has entered into eight option agreements to acquire a 70% interest in the profits from the production of precious metals, base metals and coltan, originating from properties in Colombia and Venezuela. The Company is pleased to report the following sampling results, which were analyzed for their metal content at the Centre de Technologie Minérale et de Plasturgie in Thetford Mines (Quebec): Sample % Ta % Nb g/t Sc % Sn % TiO2 V - M-8355_1 7.97 2.36 3,200 72.08 4.54 C - M-8355_2 1.03 3.78 / / 49.02 C - M-8355_12 35.66 7.57 6,200 8.29 23.93 V - M-8355_234 26.66 7.70 4,200 5.35 23.32 C - M-8246_7 35.15 39.63 / / 3.92 C - M-8246_8 31.14 36.99 / / 3.33 The Company has also received copper/silver results for one of the option properties, as follows: C - M-8246_1 C - M-8246_2 C - M-8246_4 C - M-8246_6 % Cu 2.41 8.68 62.62 68.84 g/t Ag / / 600 500 The Company is currently conducting the metallurgical testing that targets the selective extraction of tantalum, niobium, scandium and copper on selected samples using the Ultrasound Assisted Extraction (UAEx) process. Coltan is a metallic mineral composed of niobium and tantalite, which is refined to produce tantalum. Tantalite ore currently sells for US$186 per kg. Niobium currently sells for approximately US$50 per kg. Tantalum from coltan is used to manufacture batteries for electric cars, as well as almost every kind of electronic device, including cell phones and computers. Niobium is used in superconducting alloys. Scandium oxide sells for US$4,000 per kg. Added to various aluminum alloys, scandium has high-value commercial uses, especially in the automotive and aerospace industries. Tin presently sells for US$19 per kg, and the selling price of titanium dioxide ranges from US$1,700 per metric tonne to US$2,700 per metric tonne, depending on its quality and the application. Auxico is currently preparing to establish detailed grids over the properties for extensive sampling using augers. The program will be supervised by Auxico’s Qualified Person and will commence shortly. All of the samples will be sent to Quebec for metallurgical analysis, as well as to an accredited lab in Colombia. Engagement of Buffalo Associates Limited Auxico is also pleased to announ...