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By Carl L. Renzoni

INTRODUCTION This paper defines equity as the issuance of a permanent interest in the business on a broadly distributed basis. As such, it excludes the issuance of equity to either a merchant bank or to another corporation. Nearly twenty years ago the equity markets were very simple: The instruments used were primarily common shares, convertible debentures or convertible preferred shares. Another equity-type option often used, especially by junior companies, was the sale of joint venture interests. Issue sizes were generally in the order of $25 - $100 million and issues were syndicated primarily in North America and Europe by one or two investment dealers. Mining corporations today benefit from a market with much more depth. Issues are syndicated by dealers on a truly international basis, and issue sizes now often range up to $300 million. Moreover, dealers are now willing to take significant risk in buying the issues for redistribution. This discussion of trends in equity markets will encompass: 1) common shares 2) warrants to buy common shares 3) convertible debentures 4) commodity backed instruments A review follows of events that affect the mining industry and investment dealers as they have a bearing on the equity markets for the metal producers. FACTORS AFFECTING THE MINING INDUSTRY The current business cycle, up to October 1987, had been characterised by a buoyant stock market and depressed base metal prices. Mining companies entered this period with weak balance sheets and little prospect of cash flows meeting capital needs. The issuance of equity and the sale of assets were used extensively to reduce debt to manageable levels. During this period, the relative high price for gold, and more important, the very high earnings and cash flow multiples afforded to gold producers, caused companies to target gold as the only game in town. The need for capital to acquire and develop gold properties prompted an unprecedented volume of equity issues. (Burns Fry led or co-managed over $1 billion of mining equity issues per year during this period). This high demand for equity capital by the industry prompted an increase in the use of equity instruments, such as commodity backed instruments. In addition, government tax incentive programs in Canada, such as flow-through shares, allowed smaller companies to raise significantly more equity than would otherwise have been possible. Over $1 billion in flow-through equity was raised in 1987 alone. The abundance of flow-through capital in Canada made it easy to form a new company. One flow-through share fund developed a system of providing the working capital required for a company to be eligible to receive flow-through share capital so that an entrepreneur required only a mining property to get started. Many new companies were formed and several flourished in a buoyant stock market environment to the point that market capitalizations grew to $100 million or more. The current period is in stark contrast to that before October 1987. The equity markets are generally available to the resource industry only on a window basis and only for senior companies and for special situations. The industry is benefitting from buoyant metal prices, and bankers are anxious to provide debt capital. Investment dealers previously processing several equity issues

Jan 1, 1990

By R. Gibala

Internal-friction measurements on hydrogen-charged iron over the temperature range 4° to 300°K are reported. Two relaxation peaks, the hydrogen Snoek peak at 48 °K and the hydrogen cold-work peak in the range 145" to 2200K, are observed at 80 kc per sec. The effects of hydrogen-charging, aging, and deformation on the internal-friction results are determined and are used to show evidence of partitioning of hydrogen between solid solution and dislocations. The hydrogen-dislocation binding energy is estimated from the behaviors of the relaxation tiwzes and relaxation strengths of the Snoek peak and the cold-work peak. Its value is approxi,mately 6400 cal per mole. MANY investigators have demonstrated the usefulness of internal-friction measurements in determining the manner in which interstitial impurities interact with dislocations in bcc metals. Part of this success has resulted from the existence in bcc interstitial alloys of two anelastic relaxation peaks—the Snoek peak' and the cold-work or Koster peak2 (designated hereafter by SP and CWP, respectively). The SP has its origin in the redistribution of interstitials in solid solution among sites made energetically nonequivalent by an applied stress. The rate at which the redistribution occurs, measured by the relaxation time for the process, is related in a simple way to the diffusion rate of the interstitial in the free solution. The relaxation strength is proportional to the concentration of interstitial in solid solution. The CWP appears to have its origin in the relaxation of an interstitial-dislocation complex for which the relaxation time at a given temperature is much longer than that for the SP. The relaxation strength depends strongly on the concentration of interstitial and the amount of deformation at relatively low concentrations and deformations.2-8 From the dependence of the relaxation strength on interstitial concentration, the SP and CWP may serve as measures of the concentrations of interstitials in free solution and bound at dislocations, respectively. Thus their behaviors have been used to investigate interstitial-dislocation interactions in Fe-C, Fe-N, and several refractory metal systems.'-' However, the Fe-H system has not been studied extensively,? even though disputes in recent years over the mechanism of hydrogen embrittlement in steels involve argument over the extent to which lattice hydrogen and hydrogen-dislocation interactions play an important role.?-'' Previous work on Fe-H indicates the internal-friction behavior to be qualitatively consistent with that for other systems. Apparently, both a SP and a CWP are observed in the temperature ranges 30" to 50°K and 100°to 140°K, respectively (at 1 cps). However, there is neither sufficient nor accurate enough information to identify convincingly these peaks with their supposed counterparts in other systems. Nor have there been any attempts to make quantitative use of these peaks to study hydrogen diffusion, aging, or interaction processes. In this paper, an attempt is made to obtain more complete information on internal friction of hydrogen in iron than presently available. Internal-friction measurements in the range 4° to 300°K on hydrogen-charged iron show that the two peaks discussed above are in fact the hydrogen SP and CWP. Several effects of hydrogen charging, aging, and deformation on these peaks are observed and are used to determine the partitioning of hydrogen between solid solution and dislocation sites in iron. EXPERIMENTAL Materials. The starting material for this investigation was a high-purity iron supplied by National Research Corp. as a 1-in.-diam rod. The following analysis was given (inwt pct): C, 0.004; N, 0.0003; 0, 0.007; P, 0.002; S, 0.005; Si, 0.006; Mn, 0.001; Cu, 0.002; Ni, 0.005; Cr, 0.001; Mo, 0.001. After an initial vacuum anneal (-5 XTorr) at 700°C, the rod was cold-

Jan 1, 1968

By John Branner

FIVE of the geologic horizons that yield oil in other parts of the world are represented in Brazil; namely, the Devonian, Carboniferous, Permian, Cretaceous, and Tertiary. Thus far, the first two have shown no, evidences of being oil bearing within Brazilian territory. Not enough exploring has been done to permit trustworthy comparisons of the relative importance of the Permian, Cretaceous, and Tertiary as oil-bearing horizons in this country. The most important, indeed almost the only, information available relates to the locations of the areas and to the structural features of the several horizons. The theories regarding the physical conditions under which these rocks were laid down, however, I regard of the utmost importance. PERMIAN Rocks of Permian age cover an enormous area in Brazil, extending from Rio Grande do Sul to Maranhão on the north, and to Matto Grosso on the west. These Permian rocks in many places are known to include oil-bearing shales and in some locations contain small veins of gilsonite. The geologic map of Brazil shows that the Permian area is widely distributed, but there is considerable doubt about 'the origin of some of the rocks:. Some of the lower Permian beds in southern Brazil contain marine fossils, but in Minas no fossils have as yet been found in them, and in Bahia, at only one locality have a few Permian plants been found. Indications of oil have been found in the states of São-Paulo, Paraná, and elsewhere farther south, but wells drilled in the Permian of São Paulo near the Morro do Bofete did not find oil. One well has been started, by the Brazilian government, in the Permian of Paraná near Marechal Mallet, close to latitude 26° south, but thus far oil has not been found.

Jan 6, 1922

By R. H. B. Jones

This paper reviews pertinent geology of the Biwabik iron formation, Mesabi Range, Minnesota. This iron formation is divisible into four members. Each member is distinctive and contains marker horizons, which are recog nizable throughout all phases of alteration from lean, fresh rock to high-grade iron ore. Some beds have a larger magnetite content than others. During the process of ore genesis, which is essentially an oxidation process, the magnetite content is lowered. Alteration from iron formation to ore includes both oxidation of iron minerals and silica removal by leaching and these distinct processes progress at variable rates for different locations and structures. Magnetic intensities, of each horizon of the iron formation are dependent chiefly upon its preoxidation magnetite content, upon the subsequent degree of oxidation, upon the character of the enclosing rocks, and on the extent of fracturing, folding, or faulting. The results of a number of magnetic surveys are described and are correlated with results of drill-hole and mine exploration and developmerit. The magnetic anomalies obtained are discussed in relation to phases of formation of ore within the iron formation. General Information One hundred years ago a party of surveyors, applying the principles of geophysical prospecting, discovered iron ore in the state of Michigan in the Lake Superior district. This event was officially reported as follows:' On Sept. 19 (1844) while running the east line of Town 47 North, Range 27 West, they observed by means of the solar compass remarkable variations in the direction of the needle, amounting to 87" from the normal. Ascribing this phenomenon to iron ore, they sought and found it in ledges or outcrops at several points. The solar compass referred to was invented by William A. Burt, deputy surveyor in charge of this party.2 It is used for determining the true meridian by an observation on the sun. Eight years later, on July 7, 1852, the first iron 're, consisting of 6 bbl. of Ore, was shipped from Marquette, Michigan. It was another 40 years before the first or> shipment left the Mesabi Range in Minnesota, in October 1892. It totaled 4245 tons. Fifty years later, 90 years after the original shipment, during 1942 the Lake Superior district shipped 93,495,392 gross tons of iron ore. Production came from Minnesota, Michigan, Wisconsin, and Ontario, Canada. Throughout the 90-Year period it was known that magnetic properties of most of the ore bodies, and of the iron formations in which they occur, affected the compass. This phenomenon, later to be made use of to outline areas of ground favorable for exploration, was at first a

Jan 1, 1949

By R. H. B. Jones

This paper reviews pertinent geology of the Biwabik iron formation, Mesabi Range, Minnesota. This iron formation is divisible into four members. Each member is distinctive and contains marker horizons, which are recog nizable throughout all phases of alteration from lean, fresh rock to high-grade iron ore. Some beds have a larger magnetite content than others. During the process of ore genesis, which is essentially an oxidation process, the magnetite content is lowered. Alteration from iron formation to ore includes both oxidation of iron minerals and silica removal by leaching and these distinct processes progress at variable rates for different locations and structures. Magnetic intensities, of each horizon of the iron formation are dependent chiefly upon its preoxidation magnetite content, upon the subsequent degree of oxidation, upon the character of the enclosing rocks, and on the extent of fracturing, folding, or faulting. The results of a number of magnetic surveys are described and are correlated with results of drill-hole and mine exploration and developmerit. The magnetic anomalies obtained are discussed in relation to phases of formation of ore within the iron formation. General Information One hundred years ago a party of surveyors, applying the principles of geophysical prospecting, discovered iron ore in the state of Michigan in the Lake Superior district. This event was officially reported as follows:' On Sept. 19 (1844) while running the east line of Town 47 North, Range 27 West, they observed by means of the solar compass remarkable variations in the direction of the needle, amounting to 87" from the normal. Ascribing this phenomenon to iron ore, they sought and found it in ledges or outcrops at several points. The solar compass referred to was invented by William A. Burt, deputy surveyor in charge of this party.2 It is used for determining the true meridian by an observation on the sun. Eight years later, on July 7, 1852, the first iron 're, consisting of 6 bbl. of Ore, was shipped from Marquette, Michigan. It was another 40 years before the first or> shipment left the Mesabi Range in Minnesota, in October 1892. It totaled 4245 tons. Fifty years later, 90 years after the original shipment, during 1942 the Lake Superior district shipped 93,495,392 gross tons of iron ore. Production came from Minnesota, Michigan, Wisconsin, and Ontario, Canada. Throughout the 90-Year period it was known that magnetic properties of most of the ore bodies, and of the iron formations in which they occur, affected the compass. This phenomenon, later to be made use of to outline areas of ground favorable for exploration, was at first a

Jan 1, 1949

George A. Packard, Boston, Mass. (communication to the Secretary†):—The very interesting results obtained by Prof. Hofman and his assistants came to my attention when I had temporarily assumed charge of the metallurgical department of the Missouri School of Mines, and had found it, pending the completion of a new building, lacking a furnace in which to roast ore preparatory to the customary lead blast-furnace run. An attempt at lime-roasting had been already determined upon, but the use of a charge which would make a slag of definite composition was a new idea. The results following were obtained by Messrs. Aubrey Fellows, J. C. Long, E. R. Wash, and Dr. T. C. Tseung, under my supervision. It is regretted that the data are not more complete; but the work was done simply incidentally to securing the desired ore for the blast-

Jan 1, 1908

By G. F. Jenkins

The word asbestos is a broad term that has been accepted and applied to a number of fibrous mineral silicates found in nature. They are incombustible and can be separated by mechanical means into fibers of various lengths and thicknesses, but differ in chemical composition and other properties. It is generally recognized that there are six varieties of asbestos; the finely fibrous form of serpentine known as chrysotile, and five minerals of the amphibole group, i.e., amosite (not fully recognized as a mineral species name but accepted in asbestos terminology), anthophyllite, crocidolite, tremolite and actinolite. (Figs 1-4.) Physical and Other Properties The structures of asbestos fibers have been studied intensely in recent years. X-ray diffraction patterns 1 to 15 have been used as a means of identification and classification. The amphibole group structures have been fairly well established while the serpentine group has been the subject of many investigations during the past six years. Low-angle X-ray scattering techniques5 have shown that the chrysotile fibrils are "hexagonally close packed" and parallel to each other, having cross-sectional diameters varying from 180Å* units to 300Å units, while the amphibole fibers are many times larger in cross section. The electron micrographs of chrysotile asbestos (Figs 1-4) have also indicated that the fibrils might be in the form of a hollow tube. This point has been the subject of considerable controversy by a number of investigators.7 to 16 Density measurements17 made on a sample of high quality Arizona fiber did not indicate that the fiber had a hollow tube structure; however, the so-called "sheet structure" of the fibril could be distorted in such a way that it gives the appearance of a hollow tube in the electron microscope. It is of interest to quote one investigator, F. L. Pundsack,17 in this connection: Although the empirical composition of chrysotile is 3MgO.2SiO2.2H20, the true unit cell[#] composition is best represented as Mg12(OH)16Si8O20. This cell has dimensions of a= 5.3Å, b = 9.2 Å, and c = 14.6 Å where the "a" direction is the fiber axis. The calculated density of this unit is 2.56 g/cc, a value in close agreement with experimentally determined density values for chrysotile. The exact manner in which the unit cells of asbestos are stacked together to build up a single fiber of chrysotile is not known, but from various

Jan 1, 1960

By S. Chander, D. W. Fuerstenau

The inherently sluggish nature of the reactions involving sulfide minerals, particularly molybdenite, in aqueous solutions under ambient flotation conditions make their investigation complicated and difficult. Since the physicochemical nature of sulfides is known to be controlled by electrochemical reactions, a number of attempts have been made in the past to study sulfide mineral-collector interactions through rest potential and electrode polarization measurements. The purpose of the present investigation was to study the interaction of potassium diethyldithiophosphate (KDTP) with molybdenite. In the present investigation of the interaction of KDTP at the molydenite surface, molybdenite electrode rest potential measurements and electrode polarization behavior were experimentally determined under various solution conditions. The standard reduction potential for the equilibrium between dithiophosphate ions (DTP-) and bis(diethoxythiophosphoryl)disulfide (DTP) [(DTP). + 2e :i7-± 2DTP- (1)] can be evaluated from the electrode rest potential measurements on a platinum electrode in deoxygenated KDTP solutions saturated with freshly prepared (DTP)2. Experimental A platinum wire was used as the electrode for potential measurements. Prior to each measurement the elec-

Jan 1, 1975

Bernard MacDonald, Guanajuato, Mexico (communication to the Secretary*):—Mr. Iceyes's paper is very interesting to me because of my personal experience with the development of the ore-deposits of Lake Valley.

Jan 1, 1909

By Alan M. Bateman

POSSIBLE postwar trends of the more important world minerals will be determined in part by their present world position and by the acts and forces that have operated during the war period, so it is desirable first to review briefly what has been happening in the foreign field of metals and minerals. When we first entered this war we of the mineral profession were all acutely conscious of our lack of strategic minerals and other materials, which had to be imported in great quantities-minerals such as manganese, chrome, tin, mercury, nickel, and antimony. But we realized also that we had to acquire vast quantities of those minerals of which we had thought we were bountifully supplied. Our assumed domestic abundances turned out to be woefully deficient, and demands also arose for new minerals never before produced in large quantities. Some threescore minerals entered the strategic list of our imports. Ores from new sources had to be sought, developed, and transported. Tonnages in the millions of such bulk materials as zinc, lead, copper, chrome, and manganese flowed to feed our war efforts. Sparsely distributed minerals such as tin, mercury, antimony, tungsten, cobalt, mica, and corundum had to be lured from their rock lairs in greatly increased quantities to feed the hungry maw of war industry, and the rare minerals such as tantalite, columbite, beryl, and quartz crystals had to be developed and procured in quantities never before dreamed of. New uses such as radio and radar created demands for many minerals formerly thought of only as adornments of museum collections and not as pressing industrial minerals. Such minerals were never before mined in quantity.

Jan 1, 1945

By C. F. Floe, N. J. Grant, A. Joukainen

A CCORDING to Guertler,¹ Smith and Hamilton were the first to study the Cu-Ti alloy system, but because of the presence of large amounts of impurities their data are inconclusive. Hensel and Larsen² in 1930 and Kroll³ in 1931 determined the high copper end of the diagram. In 1939 Laves and Wallbaum,4 in a short summary of compound determinations in titanium binary alloys, mentioned the existence of a face-centered cubic compound, Ti2Cu, with 96 atoms per unit cell, and also a compound, TiCu3, which was said to have a deformed hexagonal close-packed structure in which ordering had been observed. The existence of a compound, TiCu, was also found but the crystal structure was not determined. Craighead, Simmons, and Eastwood determined the effect of copper on the allotropic transformation in titanium. The investigation was limited to alloys containing from 0 to 5 pct Cu, using titanium of fairly high impurity content. Experimental Procedure The methods used for determination of the diagram included metallographic examination and X-ray and thermal analyses. The system was first worked out using the higher purity "Process A" sponge titanium and oxygen-free copper. The high titanium region was next determined more accurately using iodide titanium and vacuum-melted, oxygen-free copper. Preparation of Alloys: The alloys were prepared by arc melting under prepurified helium atmos- pheres in water-cooled copper crucibles. The high purity iodide titanium alloys were prepared by melting three compositions along with a specimen of unalloyed titanium in a single charge. A multiple crucible was used which consisted of a copper plate with four cup-like depressions. The unalloyed titanium was melted first and acted as a getter for any oxygen and nitrogen in the melting chamber. Since these elements harden titanium, the hardness of the standard specimen was an index of the highest probable contamination of the alloy melts. The sponge titanium alloy melts weighed from 100 to 200 g each and the iodide titanium melts from 20 to 25 g. In order to insure greater homogeneity most of the alloys were melted, turned, and remelted twice. The larger buttons made from sponge titanium were sectioned or crushed before remelting. These alloys up to 30 pct Cu were further homogenized by forging at 925°C. They forged readily up to 20 pct Cu but numerous cracks were formed in the alloys containing from 20 to 30 pct. Above 30 pct Cu the sponge titanium alloys were homogenized by heating for 200 hr at 850°C under prepurified helium. Similarly, the iodide-grade titanium alloys containing up to 3 pct Cu were homogenized at 1000°C for 24 hr and all others at 880°C for 200 hr.

Jan 1, 1953

By Orville R. Lyons

THE Russellton preparation plant of Republic Steel Corp., located north of Pittsburgh, Pa., prepares 395x0-in. Thick-Freeport coal by means of a 13-ft 6-in. diam Chance cone and 16 No. 7 Deister tables. The plant feed ranges between 370 and 410 tons per hr, of which approximately 31 pct is 1/4xO-in. size, and the plant reject ranges between 14 and 16 pct of the feed.

Jan 6, 1953

By R. J. Woody

Design of the most economic continuous counter-current decantation (CCD) circuit is based on selection of the number of stages and the wash volume that will give the minimum summation of the following items: 1) Capital and operating costs of the CCD circuit. 2) Capital and operating costs of the precipitation circuit. 3) Value of the dissolved product lost.

Jan 1, 1959

By Folke H. Kihlstedt

Geophysical prospecting for ore has been more or less at a standstill during the present crisis owing to the lack of interest in base-metal exploration. A notable exception is the increased use of electrical and magnetic methods in prospecting for gold, the former in Canada, United States, Sumatra, Africa and Western Australia, and the latter on the Rand. This application to gold prospecting marks a forward step in ore prospecting because it is based upon mapping the geology instead of a direct location of the ore in question, as the amount of gold in an average gold ore is far too small to have any influence upon the physical properties of the rock in which it occurs. The development has thus gone in the same direction as geophysical prospecting for oil; that is, to find geological conditions that are genetically connected with the gold ore as exemplified by known occurrences. Naturally the success of this indirect prospecting depends upon two things: (1) the soundness of the geological conclusions upon which is based the hope of discovering new deposits, because a great many geological "set-ups" are barren, and (2) the ability of geophysical methods to help the geologist to collect the pertinent geological data within reasonable cost, after which favorable structures may be drilled or trenched. The first point is one to be considered by the mining geologist. In the vicinity of producing mines or promising prospects, the chances of finding ore in quartz veins and shear zones are great, and a survey giving the location of these features will materially guide both surface and underground exploration. Even in outside exploration the chances are sometimes favorable. As an example may be taken the Northeastern Ontario-Western Quebec gold zone. Large areas are here covered with glacial and post-glacial deposits and a simple study of available maps reveals the fact that less than 30 per cent of the area can ever be even preliminarily prospected by cominonly used prospecting methods, of which the pick and shovel are the main tools. Considering the number of deposits found, it is evident that many deposits remain hidden below the overburden. The knowledge of gold geology gives a starting point

Jan 1, 1934

By W. F. Brace, James D. Byerlee

Although prediction of failure of rocks may be ultimately possible without knowing in detail how failure occurs, understanding of this process is certainly of fundamental interest in rock mechanics. Of the various failure mechanisms, probably brittle fracture is of greatest interest. Recent reviews have brought this subject nearly up to date (Hock,1 Price,2 and Jaeger 3) and here, we summarize certain recent developments. As our understanding of brittle fracture is derived almost solely from laboratory studies this will amount to a review of certain laboratory experiments. New studies in four areas are pertinent; these concern 1) the volume changes which accompany brittle fracture, 2) the propagation of cracks in compression, 3) certain frictional characteristics of rocks and minerals at high pressure, and 4) the law of effective stress for crystalline rocks. Our objective here is less to present an entirely consistent, complete picture of how a rock fractures than it is to emphasize gaps in our understanding and, thus, suggest areas that need further study. Progress is still painfully slow in this field and perhaps this approach will stimulate new work. OBSERVATIONS Although the behavior of large rock masses is most often the concern in rock mechanics, the number of large-scale experimental tests is still vanishingly small. Our experimental observations arc, by and large, still made on small, relatively flaw-free, rock samples. Here also we report the behavior of small samples.

Jan 1, 1967

By W. S. Cavender

The Round Mountain mining district, Nye County, Ne- vada, was discovered in 1906 on claims owned by Lewis D. Gordon. Initial mining operations uncovered gold veins of spectacular richness, and within a few days of discovery, Gordon sold his controlling interest for some $87,000. From this sale emerged the Round Mountain Mining Co., predecessor of Nevada Porphyry Gold Mines, Inc., the latter destined to become the major property owner in the area. Vein mining in the district continued sporadically into the early 1930s, yielding 9.3 Mg (330,000 oz) of gold plus substantial silver credits from approximately 626 kt (690,000 st) of ore. In addition to the lode deposits, the early miners recognized the placer potential in the alluvial fan material accumulated around the west and north sides of Round Mountain itself. Intermittent placer operations were carried out for a number of years, and in the 1940s and 1950s, Round Mountain Gold Dredging Co. worked the placers under a lease from Nevada Porphyry Gold Mines. The last placer operation terminated in 1959 when it, like some of its predecessors, proved uneconomic. Total placer production for the district is estimated at 3657 km (4 million yd) of gravel containing 59 Mg (210,000 oz) of gold and possibly 2.0 to 2.3 Mg (70,000 to 80,000 oz) of silver. Round Mountain is a small hill situated on the east flank of the Toquima Range in central Nevada. The hill is com- posed of relatively flat-lying Tertiary rhyolitic ash flow tuffs, which overlie Paleozoic metasediments and Cretaceous granites. Throughout the surrounding Round Mountain mining district, most of the known gold ores occur in the tuffs, although the metasediments and granites are also mineralized. Mineralization is structurally controlled, principally by a series of northwest-trending shears and shattered zones. Vein, stockwork, and disseminated ores occur, usually containing simple quartz-pyrite-gold mineral assemblages. The gold itself is electrum, having a silver content of 30% to 40%. In September, 1967, Elwood Dietrich, a prospector and mine promoter, obtained a purchase option on the 4452 ha (1 1,000 acres) of mineral rights held at Round Mountain by Nevada Porphyry Gold Mines. The original option had a buy-out price of $1 million and was established through Dietrich's friendship with officers of Nevada Porphyry. In April, 1968, Dietrich conveyed his option to Ordrich Gold Reserves Co., a partnership created by a group of west coast investors, mostly employees of the airline industry. There- after, Ordrich invested considerable funds in trying to test and develop the property, but soon recognized the need to seek financial and technical support from the mining industry. In December, 1968, Dietrich contacted Wayne Cavender, then Regional Geologist, Southwest, for Copper Range Exploration Company (CRX) in Tucson, Arizona, and made a data presentation. Shortly thereafter, Cavender was appointed Manager of Exploration and Chief Geologist for Copper Range Co. (parent company of CRX), New York City, and he asked C. Phillips Purdy, CRX Regional Geologist, Northwest, to make an initial property examination. Purdy's one-week field study took place in March, 1969, and resulted in a recommendation that CRX pursue its investigation of the property. The presence of low-grade gold mineralization in both the alluvial gravels and in the bedrock was verifiable, but the placer was deemed to have the greater immediate economic mining potential. At that time, gold was in the $1.41/g ($40 per oz) price range. Working from Purdy's information, Cavender decided to attempt acquisition of the property, and the first in a long series of negotiations was initiated with Ordrich. Basically, CRX felt that the placer had a promising potential for several reasons, including (I) past operators had recovered free gold but not the gold contained in the pebble fraction of the gravels; (2) past operations appeared to have been ineffectively designed or managed and not costefficient; and (3) the price of gold appeared to be poised for an upward move. Negotiations with Ordrich were prolonged and difficult, with CRX competing against several ma* mining companies, but finally an agreement was reached, effective June I, 1970. Gold was then back to $35. It is believed that, in

Jan 1, 1985

By E. T. Turkdogan, Klaus Schwerdtfeger, P. Grieveson

The rate of growth of "Fe4N" on a iron was measured by nitriding purified iron strips in flowing am -monia -hydrogen gas mixtures at 504" and 554°C. It is shown that a dense nitride layer is formed when a zone -refined iron is used in the experiments. With less pure iron, the nitride layer is found to be porous. Through theoretical treatment, the self-diffusivity of nitrogen is evaluated porn the parabolic rate constant, and found to be essentially independent of nitrogen actirlity, e.g., D* = 3.2 x l0-12 and 7.9x l0-12 sq cm per sec at 504" and 554?C. Some consideration is given to the mechanism of diffusion in the nitride phase. THERE is a great deal of background knowledge on the solubility and diffusivity of nitrogen in iron, and on the thermodynamics and crystallography of several phases in the Fe-N system. Although case-nitrided steels have many applications in practice, no work seems to have been done on the diffusivity of nitrogen in the iron nitride, ?', phase. The only work reported on the related subject of which the authors are aware is an investigation by Prenosil,1 who measured the growth rate of the e phase on iron by nitriding in ammonia-hydrogen gas mixtures. EXPERIMENTS Purified iron plates of approximate dimensions 1 by 0.5 by 0.03 cm were nitrided in flowing mixtures of ammonia and hydrogen, in a vertical furnace fitted with a gas-tight recrystallized alumina tube. After a specified time of reaction, the sample was cooled to room temperature by withdrawal to the water cooled top of the reaction tube. The furnace temperature was controlled electronically in the usual manner within *l°C; the temperature was measured using a calibrated Pt/Pt-10 pct Rh thermocouple. For each experiment the iron strip sample was cleaned with fine emery cloth and degreased with tri-chloroethylene prior to the experiment. The ammonia-hydrogen gas mixtures were prepared from anhydrous ammonia and purified hydrogen using constant pressure-head capillary flowmeters. The gas mixture flowed upward in the furnace with flow rate of 400 cc per min at stp. The composition of the gas mixture was checked by chemical analysis at regular intervals. In most cases, the compositions of the exit gas and metered input gas agreed within about 0.3 pct, indicating that cracking of ammonia did not pose a problem at the temperatures employed. Two series of experiments were carried out using two different types of purified iron samples. In the first series of experiments at 550°C, vacuum carbon deoxidized "Plastiron" was used. The main impurities present in this iron were, in ppm: 4043, 50-Cr, 20-Zr, 40-Mn, 20-P, 20-S, 20-C, 50-0, and 10-N. In these experiments the rate data were obtained by measuring the change in weight of the iron specimen suspended in the hot zone of the furnace by a platinum wire from a silica spring balance. The nitride layer formed in these experiments was found to be porous, particularly near the outer surface. In other experiments, high purity zone-refined iron (prepared in this laboratory) was used. The total impurity content of this iron was 30 ppm of which 20 ppm was Co + Ni, 4 ppm 0, other metallic impurities were less than 1 ppm. The zone-refined iron bar, -2.5 cm diam, was cold rolled to a thickness of about 0.03 cm and the specimens were prepared for the experiment as described earlier. After the nitriding experiment, the sample was copper plated electro-lytically and mounted in plastic for metallographic polishing. After polishing, the thickness of the ?' layer was measured using a metallographic microscope. The nitride layer formed on the zone-refined iron was essentially free of pores. RESULTS The different morphology of the nitride layers grown on "Plastiron" and zone-refined iron is shown in Fig. 1. Both samples were nitrided side by side for 55 hr. The holes in the less pure iron, Fig. l(a), are confined to a region about one half thickness from the outer surface. The dense layer grown on zone-refined iron, Fig. l(b), is thinner than the porous layer on the "Plastiron". The impurities in the iron are believed to be responsible for the formation of a porous nitride layer. The pore formation may be due to the high nitrogen pressures existing within the nitride layer, e.g., the equilibrium nitrogen pressure is 1.2 x l05 atm in the 38.6 pct NH3-61.4 pct H2 and 6.6 x l03 atm at the Fe-Fe4N interface at 554°C and 0.96 atm. It is possible that the oxide inclusions present in the electrolytic iron may facilitate the nuclea-tion of nitrogen gas bubbles within the nitride layer. Support for this reasoning is the fact that pores are only encountered in the outer range of the layer where nitrogen pressures are largest. The photomicrographs in Fig. 2 show the effect of reaction time on the thickness of the dense nitride layer formed on zone-refined iron. These sections are from samples nitrided in a stream of 29 pct NH3-71 pct H2 mixture at 554°C for 22, 70, and 255 hr. In all the sections examined the nitride-iron interface was noted to be rugged. These irregularities are be-

Jan 1, 1970

By C. W. Allen, L. C. Moore

THE Mather mine, of the Negaunee Mine Co., is within the limits of the City of Ishpeming, on the Marquette iron- range in Michigan's Upper Peninsula. It is named for William G. Mather, who has served as President, and Chairman of the Board, of The Cleveland-Cliffs Iron Co. for well over 50 years. The property comprises nearly the square mile of section 2, T.47 N. R.27 W., which, except for 20 acres in the northeast corner, was leased by The Cleveland-Cliffs Iron Co. to the Negaunee company. The latter is a partnership of Cleveland-Cliffs and the Bethlehem Steel Co., organized to equip the property, retaining Cliffs in charge as operator. Shipments of ore from this area are mainly through Marquette, which is 16 miles to the northeast on Lake Superior, or through Escanaba, a Lake Michigan port, 65 miles to the south. Cleveland-Cliffs, in 1943, operated 12 mines in the Lake Superior district, with shipments of 6,635,576 tons for the year. GEOLOGY The north footwall of the Marquette Range synclinorium outcrops near the north line of sec. 2, the iron formation dipping to the south at an angle of about 40º. The south side of the trough reappears at a distance of 4 ½ miles on sec. 26 and the surface geology between shows iron formation or intrusive diorites. The latter are harder than most phases of the iron formation and, as a result of glacial action, appear as buttes or low-lying hills. The general elevation of sec. 2 is about 1450 ft. above sea level, or 850ft. above Lake Superior, and the higher diorite outcroppings about 1600 ft. above sea level. The geological structure has been complicated by a series of major and minor faults, one of which may be illustrated by the diorite sheet, which tilts south with the iron formation in the north half of the section and then reappears near the center to repeat this sequence. Sectionally the geological series includes a nearly eroded capping of Goodrich quartzite followed by the considerable thickness of Negaunee iron formation, which is cut by intrusive dikes or diorite sheets, and underlain by the Siamo slates grading into quartzites. The ore deposits occur mainly in troughs formed by the intersection of impervious dikes and the footwall slate, but include locally enriched lenses or bands in the iron formation and also interbedded with the Siamo slate. The ore is a soft red hematite with an indicated dried analysis from the surface drilling to date of 61.50 per cent Fe, 0.134 per cent P, 5.40 per cent Si, 2.87 per cent Al and 0.015 per cent S. EXPLORATION A diamond-drilling campaign started in 1937 actually had its inception in 1917, when a number of shallow test holes were put down for the purpose of locating ore that might be quickly developed and mined

Jan 1, 1945

By C. W. Allen, L. C. Moore

The Mather mine, of the Negaunee Mine Co., is within the limits of the City of Ishpeming. on the Marquette iron range in Michigan's Upper Peninsula. It is named for William G. Mather, who has served as President, and Chairman of the Board, of The Cleveland-Cliffs Iron Co. for well over 50 years. The property comprises nearly the square mile of section 2, T.47 N. R.27 W., which, except for 20 acres in the northeast corner, was leased by The Cleve-land-cliffs Iron Co. to the Negaunee company. The latter is a partnership of Cleveland-Cliffs and the Bethlehem Steel Co., organized to equip the property, retaining Cliffs in charge as operator. Shipments of ore from this area are mainly through Marquette, which is 16 miles to the northeast on Lake Superior, or through Escanaba, a Lake Michigan port, 65 miles to the south. Cleveland-Cliffs, in 1943, operated 12 mines in the Lake Superior district, with shipments of 6,635,576 tons for the year. Geology The north footwall of the Marquette Range synclinorium outcrops near the north line of set. 2, the iron formation dipping to the south at an angle of about 40. The south side of the trough reappears at a distance of 4J5 miles on sec. 26 and the surface geology between shows iron forma- tion or intrusive diorites. The latter are harder than most phases of the iron formation and, as a result of glacial action, appear as buttes or low-lying hills. The general elevation of sec. 2 is about 1450 ft. above sea level, or 850 ft. above Lake Superior, and the higher diorite outcroppings about 1600 ft. above sea level. The geological structure has been complicated by a series of major and minor faults, one of which may be illustrated by the diorite sheet, which tilts south with the iron formation in the north half of the section and then reappears near the center to repeat this sequence. Sectionally the geological series includes a nearly eroded capping of Goodrich quartzite followed by the considerable thickness of Negaunee iron formation, which is cut by intrusive dikes or diorite sheets, and underlain by the Siamo slates grading into quartzites. The ore deposits occur mainly in troughs formed by the intersection of impervious dikes and the footwall slate, but include locally enriched lenses or bands in the iron formation and also interbedded with the Siamo slate. The ore is a soft red hematite with an indicated dried analysis from the surface drilling to date of 61.50 per cent Fe, 0.134 Per cent P, 5.40 per cent Si, 2-87 Per cent A1 and 0.015 per cent S. Exploration A diamond-drilling campaign started in 1937 actually had its inception in 1917, when a number of shallow test holes were put down for the purpose of locating ore that might be quickly developed and mined

Jan 1, 1946

By AIME AIME

THE Petroleum Division opened its proceedings on Wednesday morning, with two simultaneous sessions on engineering and economics. The first paper at the engineering session, over which A. W. Ambrose presided, was "Underground Surveys of Oil Wells," by Alexander Anderson of Los Angeles, Calif., was presented by John Suman of the Humble Oil & Refining Co., Houston, Texas. Following this, the paper of E.'H. Griswold of the Mailand Oil Co., Houston, Texas, was presented by C. V. Millikan of the Amerada Petroleum Corp., Tulsa, Oklahoma. Following the presentation of these two interesting papers a general discussion followed on the subject of "Crooked Holes." The discussion was entered into by F. H. Lahee, Sun Oil Co., Dallas, Texas;'Messrs. Bigelow of Tulsa, H. W. Hixon of New York City, Van Court Warren of Los Anyeles, Calif; H. L. Wheeler of St. Louis, Mo.; R. R. Brandenthaler, United States Bureau of Mines, Bartlesville, Okla.; H. H. Riggs, Indiana Territory Illuminating Oil Co., Bartlesville, Okla.; C. V. Millikan and John R. Suman

Jan 1, 1929