$EXS CHESTER TRACE ELEMENTS... I’m expecting to see a News Release later this week providing some preliminary results from the recent drilling on the Company’s Chester Copper property in New Brunswick. Initial indications appear to be very promising, especially considering the rising price of Copper on the world market. Like most prospective deposits, the Chester has some history. I recently heard that a fairly comprehensive report was done on the property dating back about ten years. Not only does it speak to the Copper potential near surface, but, largely overlooked, it also talks about three very specific trace elements found during previous exploration. These are Indium, Gallium & Cobalt.
Most Indium is used to make Indium Tin Oxide (ITO), which is an important part of touch screens, flat screen TVs and solar panels. Indium conducts electricity, bonds strongly to glass and is transparent. Indium Nitride, Phosphide and Antimonite are semiconductors used in transistors and microchips. Indium metal sticks to glass and can be used to give a mirror finish to windows, and as a protective film on welders’ goggles, for example. It has also been used to coat ball bearings in Formula 1 racing cars because of its low friction quality. An Indium alloy has been used for fire-sprinkler systems in shops and warehouses because of its low melting point. Indium is one of the least abundant minerals on Earth, and currently trades at US$298/kg. Typically, Indium is found associated with zinc, iron, lead and copper ores.
Gallium is a soft, silvery-white metal, similar to aluminum. Gallium Arsenide has a similar structure to silicon and is a useful silicon substitute for the electronics industry. It is an important component of many semiconductors. It is also used in red LEDs (light emitting diodes) because of its ability to convert electricity to light. Solar panels on the Mars Exploration Rover contained Gallium Arsenide. Gallium Nitride is also a semiconductor. It has particular properties that make it very versatile. It has important uses in Blu-ray technology, mobile phones, blue and green LEDs and pressure sensors for touch switches. Gallium readily alloys with most metals. It is particularly used in low-melting alloys. It has a high boiling point, which makes it ideal for recording temperatures that would vaporize a thermometer. On the world market, Gallium trades at US$241/kg.
Cobalt is a lustrous, silvery-blue metal. It is magnetic. Cobalt, like iron, can be magnetized and so is used to make magnets. It is alloyed with aluminum and nickel to make particularly powerful magnets. Other alloys of cobalt are used in jet turbines and gas turbine generators, where high-temperature strength is important. Probably the most significant use of Cobalt is in battery technologies being applied extensively to the growing electric and hybrid vehicles market. Cobalt metal is sometimes used in electroplating because of its attractive appearance, hardness and resistance to corrosion. Cobalt salts have been used for centuries to produce brilliant blue colors in paint, porcelain, glass, pottery and enamels. Radioactive Cobalt-60 is used to treat cancer and, in some countries, to irradiate food to preserve it. Cobalt is an essential trace element, and forms part of the active site of vitamin B12. The amount we need is very small, and the body contains only about 1 milligram. Cobalt-60 is a radioactive isotope. It is an important source of gamma-rays. It is widely used in cancer treatment, as a tracer and for radiotherapy, and a variety of other uses. On the world market, Cobalt trades at US$30/kg.
The core produced at Chester has, and is being tested for Copper content. It will, I understand, be tested further for the metals described above. Given the current prices quoted herein, and the current Copper price in the order of US$2.65/lb, the gross value of production, including the exotic trace metals, could be the equivalent of twice the current price of Copper! That would be very interesting indeed, especially given the values near surface, and the practicality of open pit vs. underground mining operations. The trace elements values could be a real game changer moving forward.
