Elemental Minerals (ASX:ELM, TSX:ELM) has taken a very restrained approach to marketing itself since it started developing the project about three years ago.

The company has recently transitioned from a mining exploration company to a near-term producer of titanium dioxide, iron and vanadium pentoxide from assets in Quebec.

Late last year the company acquired a 50.1 percent stake in Canadian Titanium Ltd., a private company which owns the process and underlying patents for the recovery and production of titanium dioxide from titanium-bearing ore.

At its plant in Mississauga, Ontario, the company said that the scale-up is progressing extremely well. The production has now
reached 3 kg/day of high-purity titanium dioxide from 0.3 kg/day, 1,000-percent scale-up to date.

The increase in production is attributable principally to ongoing refinements in the treatment and purification process that will ultimately find their way into a full-scale industrial production facility.
 
The expanded pilot plant is expected to produce at least 10kg/day of high purity titanium dioxide by mid-June.

"We have experienced delays in the delivery of certain pieces of equipment for the larger-scale pilot plant, which has not prevented us from scaling-up ten-fold," Argex’s chief operating officer and VP of technology Enrico di Cesare said.

"We are anxious to receive the last items to complete the promised 3,000 percent increase."

In terms of finances, Argex said its 2011 working capital was up just over three-fold at $5.36 million and as at December 31, it had cash and short-term investments of $4.1 million, up from $2.2 million at the end of 2010.

In addition, for the year ended December 31, 2011, Argex converted 27,233,001 warrants, broker warrants and options to common shares. This resulted in cash to the corporation of $10,381,397.

"Our financial position has improved dramatically," Argex’s chief financial officer Mark Billings said.

"The corporation’s working capital and cash position have increased substantially while our shareholdings on a fully-diluted basis have remained the same."

Indeed, management at the company has been snapping up shares, with president and CEO Roy Bonnell acquiring 30,000 shares during May, and director Mazen Haddad pickingh up 200,000 shares in the last two months.

"Argex continues its inevitable march towards production assisted by the addition of credible partners, board members and management," Argex's president and CEO Roy Bonnell said.

"Our focus continues to be on adding value by reducing the risk associated with the project in the most effective and non-dilutive way possible for our shareholders."

Over the past year, the company announced new key board members as well as acquiring additional claims at its Lac Brûlé property.

The results from the program, which was completed in February, continue to enhance the potential of the deposit, the company said.

Results from 10 holes reported Wednesday are from infill holes along nominal 100 metre spaced lines, which targeted extensions of previously encountered mineralized structures.

Highlighted results include holes Tan11-DD47 and Tan11-DD40, Channel said.

Hole DD47 intersected two principal structures including 55 metres of 2.05 grams per tonne (g/t) gold from surface (#1 Zone) and a second structure starting at 86.5 metres down-hole for 48 metres at 1.09 g/t gold (#2 Zone).

Meanwhile, hole DD40, drilled 350 metres along strike to the southwest on section 000, intersected the #1 Zone at around 120 metres below surface with 1.46 g/t gold over a width of 45 metres.

The company said other drill holes reported today have widths and grades largely in line with its expectations for these parts of the deposit.

The Mankarga 5 core-drilling program totalled more than 15,400 metres in 71 holes.

Assay results have now been reported for 13,779 metres of core, or 89 percent of the total program, from 61 holes.

The company said a protracted delay in receiving final results from labs in Ouagadougou has delayed the finalization of Tanlouka's maiden resource estimate - but results from the last 10 holes are expected to be available soon, it added.

The drilling program has so far delineated a mineralized zone that is over two kilometres long and up to 300 metres wide on the northeast-trending Mankarga 5 structure.

The main goals of the program were to provide a geological and structural context for the deposit, to further expand the zone, and to support the deposit's maiden resource estimate.

The Mankarga 5  deposit remains open along strike and to-depth, with mineralization found to a maximum vertical depth of around 260 metres in the current program.

Detailed results from the ten holes reported today can be viewed on a drill hole location map on the company's website at http://www.channelresources.ca/i/pdf/CHUmap052312.pdf.

Last month, Channel reported that it would shortly start a 2,000 metre core-drilling program focused on the Mankarga 1 target area at its Tanlouka gold project.

The company said that in 2010, reverse circulation drilling on the Mankarga 1 target resulted in some of the highest grade intersections reported thus far at Tanlouka, including 12 metres grading 21.25 g/t gold in Tan10-RC12, and 38 metres of 3.09 g/t gold in Tan10-RC10.

The mineral explorer also said at the end of April that it has earned its 100 percent  stake in the Fox Creek mineral brine project, in Alberta.

Channel’s earn-in to own the property was 10-months ahead of schedule, thanks to a recent amendment made to its original agreement signed on February 24, 2009.

Channel also has a 90 percent stake in the Tanlouka Gold project in Burkina Faso.

On May 18, the Nova Scotia Department of Environment issued an amended industrial approval, allowing the company to expand its existing mine to include the Southwest Expansion of the previously mined Main Pit.

"We are very pleased the Nova Scotia government has approved the Southwest Expansion at the ScoZinc Mine," said president Stephen Rea.

"With this approval in hand, Selwyn can continue its efforts for financing the restart of operations at ScoZinc."

The ScoZinc mine is a past producing zinc-lead mine in Nova Scotia, which the company acquired for $10 million. The mine has a measured and indicated resource of 2.8 million tonnes grading 4.2 percent zinc and 1.9 percent lead.

As it has now received the amended approval, Selwyn can access the balance of the $10 million debt facility established with Waterton Global Value, L.P., in April.

The proceeds will be used for general corporate purposes, including restart activities at the ScoZinc mine.

Selwyn primarily focuses on the exploration and development of its properties that make up the Selwyn project in the Yukon, which hosts large tonnages of zinc-lead mineralization.

The known deposits at the Selwyn project have the potential for large scale production, and to provide a "secure supply of zinc and lead to meet the future needs of the zinc and lead markets in Asia," the company said.

The acquisition of ScoZinc, once restarted, was meant to help provide cash flow to aid in the advancement of the Yukon project.

The company recently announced an updated mineral resource estimate for its XY West deposit at the Yukon project, highlighting the expansion of its inferred category resources to 12.75 million tonnes grading 4.42% zinc and 1.40% lead.

Selwyn noted that the XY West deposit is a key component due to its close proximity to the adjacent XY Central deposit, which has an inferred mineral resource of 44.11 million tonnes grading 4.10% zinc and 1.29% lead.

The updated 12.75 million tonne inferred estimate for XY West used a base case 2.0% zinc cut-off grade, and includes 3.27 million tonnes of higher grade zinc-lead mineralization grading 7.71% zinc and 2.23% lead at a 5% zinc cut-off grade.

The company said the global mineral inventory in the inferred category increased 4.4% as a result, corresponding to an increase of 0.94 billion pounds of zinc and 0.24 billion pounds of lead at a 2% cut-off grade.

Since acquiring the Selwyn project in 2005, the company said it has made nine major deposit discoveries that are potentially amenable to open pit and/or underground mining methods, all of which remain open for expansion.

Zinc-lead sulphide mineralization has now been defined over 37.5 kilometres of strike length with the drilling results from the 2005 through 2012 drilling campaigns, said the company.

The total indicated mineral resources at the Selwyn project are 180.69 million tonnes grading 5.25% zinc and 1.83% lead for a metal content of 20.91 billion pounds of zinc and 7.30 billion pounds of lead.

The inferred mineral resources have increased to 226.88 million tonnes grading 4.44% zinc and 1.37% lead for a metal content of 22.23 billion pounds of zinc and 6.84 billion pounds of lead.

The work program at the Yukon project is being undertaken by Selwyn Chihong Mining Ltd., the joint venture company equally owned by Selwyn and Chihong Canada Mining Ltd.

Shares were trading at 12 cents Wednesday morning.

The company said highlights from hole MVL-12-59B, which completed phase 2 drilling, included 2.06 percent total rare earth oxides (TREO) and 1.38 percent Nb2O5 over 95.5 metres from 334.5 metres; and 2.42 percent TREO and 3.08 percent Nb2O5 over 29.6 metres from 351.4 metres.

Geomega noted that hole MVL-12-59B intersected silico-carbonatite (host rock) at the start of drilling (from 0 to 318 metres) and then intersected ferro-carbonatite from 318 to 501 metres.

Additional results from the remaining phase 2 assays, which include over 15,569 metres in 35 diamond drill holes, will be released once check assays have been completed, said the company.

"The technical team accurately predicted the location of the rare earths enrichment zone in preparing phase 2 drilling," said CEO Simon Britt.

"The enrichment in niobium is a bonus. The enrichment zone niobium grade compares favorably to the average grade mined at Niobec (Iamgold), the only niobium producing mine outside Brazil, also in Quebec.

"Following excellent preliminary results on the recovery of pyrochlore, the niobium bearing mineral, the preliminary economic assessment (PEA) study will include a niobium oxide concentrate by-product."

Geomega said that hole MVL-12-59B is corralled approximately 170 metres and 60 metres south-east of holes MVL-11-32D and MVL-11-34 respectively, on section 6+80 West.

Highlights from those drill holes, previously released in February, included 2.59 percent TREO and 0.55 percent Nb2O5 over 19.5 metres from 219 metres in hole MVL-11-32D; and 3.09 percent TREO and 0.60 percent Nb2O5 over 46.5 metres from 318 metres in hole MVL-11-34.

Niobium is used for making high strength, low alloy steels, specifically used in manufacturing green technologies, turbines, aerospace, automobiles, oil and gas.

According to Geomega, global annual consumption of ferro-niobium is approximately 90 million kilograms per year, and is growing at an annual rate of five to seven percent.

The long term forecasted price of ferro-niobium is US$45/kilogram, said the company, adding that there are three producers worldwide, which include CBMM and Anglo American (LON:AAL) in Brazil, and Iamgold (TSE:IMG) (NYSE:IAG) in Canada.

The Montviel project is located approximately 100 kilometres north of Lebel-sur-Quévillon in the southern, developed, part of Quebec's "Plan Nord", an $80 billion economic, social and environmental development plan of Northern Quebec over a period of 25 years.

In September last year, the company released an initial NI 43-101 compliant resource for the project at a base cut-off grade of 1 percent TREO, for a total of 183.9 million tonnes averaging 1.45 percent TREO in the indicated resources category, and 66.7 million tonnes averaging 1.46 percent TREO in the inferred resources category.

The miner said another NI 43-101 compliant resource calculation for the Montviel core zone is slated to be finished in July. The company completed its phase 2 drill program at the site in March, totaling 24,234 metres over 50 holes.

The asset is lauded as one of the largest TREO resources outside China, which has the potential for a "significant near term role" in the growing permanent magnet sector due to its proximity to infrastructure and available labour.

In April, Geomega closed the second and final tranche of a $3.5 million private placement financing, and earlier this month announced plans to raise another $206,250 through a non-brokered private financing, as it seeks to fund development at its Montviel project.

The company will issue 375,000 units priced at 55 cents per unit, and use the funds to advance the PEA at Montviel. The proceeds will also go toward working capital purposes.

The Cree Mineral Exploration Board (CMEB) and an institutional board will participate in the offering, Geomega said in a statement.

Rare earths refer to a group of 15 specific elements, known as lanthanides, plus scandium and yttrium, used for everything from smartphones to guided missiles. While some rare earths are relatively common, they are dispersed in a way that makes it difficult to find deposits with high enough ore grades to economically exploit.

It is the results of such tests, due in the second quarter of this year, which are more likely to trigger a de-risking of the share price, rather than the resource estimate for the project in the Republic of The Congo earmarked for Q3 this year, says analyst Sam Spring.

Last month, the firm revealed promising results from sampled ore at the project confirming that surface mineralisation had the potential to produce a range of premium iron products -  of 65.7 per cent iron for lump products and 64.8 per cent iron for fines.

Following the tests, the firm said these premium products could be produced - using simple techniques.

Current drilling at the project is designed mainly to target potential DSO (direct shipping ore) mineralisation and oxide iron mineralisation, which is easily upgradeable to a premium product.

Assays continue to return high grade mineralisation of up to 61.4 per cent Fe at or near surface with DSO and enriched hematite confirmed along 2.5km of strike and drilling has been accelerated, noted analyst Spring today.

Spring said he expected further metallurgical analysis to highlight Mayoko-Moussondji's "unique" ability to upgrade in-situ 40-60 per cent Fe hematite to a premium product of more than 63 pct lump and fine products.

The economics of upgrading the three ore types - premium, lump, and fines is likely to mean a modest increase in capex to a base line DSO project resulting in a significantly higher net present value, pointed out the analyst.

Initial metallurgy has shown that the project could produce a range of premium iron ore products supporting Equatorial's confidence to invest capital and develop ancillary infrastructure, and enabling the potential rapid commercialisation of an initial 5Mtpa (million tonnes per annum) enriched hematite operation, he added.

Mayoko-Moussondji consists of five main iron ore prospects with an aggregate prospective strike length of over 46 kilometres.

Ncondezi Coal (LON:NCCL) this morning unveiled a major overhaul of its board, including the appointment of a new chairman and chief executive, ahead of the development of its coal project in Mozambique’s Tete Province.

Michael Haworth, a former managing director of mining and metals corporate finance at the blue-chip American bank JP Morgan, becomes chairman, replacing Richard Stuart, who will remain on the board as a non-executive director.

So too will CEO Graham Mascall, who will be replaced in that role by the company’s chief operating officer, Nigel Walls. 

Paul Venter, who has 39 years mining experience across Africa, Mongolia, China and Russia, has been drafted in as COO.

In his role TSX-listed Prophecy Coal Corp Venter oversaw the successful commissioning of the Ulaan Ovoo coal mine in Mongolia just six months after acquiring the asset.

Haworth said: "I would like to thank Richard and Graham for successfully guiding and transforming Ncondezi over the past two years. 

“I am pleased that they have agreed to remain on the board so we will continue to have access to their expertise and advice."

The appointments come as the company prepares to complete its definitive feasibility study on Ncondezi Project in the Tete, on schedule in the third quarter.

In March the group unveiled a major upgrade to its JORC compliant resource  to 4.65 billion tonnes, compared to the 1.8 million tonnes defined in February 2010.

This includes 1.33 million tonnes of coal in the indicated category - representing a 108 per cent increase over the measured and indicated resources classified in 2010's maiden resource.

Importantly, 4.07 billion tonnes of today's updated resource is at depths of less than 250 metres and can be potentially mined by open pit.

Zinc recycling specialist ZincOx Resources (LON:ZOX) is ramping up its first production plant in Korea after the demonstration period went well, it said today.

The first phase of the Korean Recycling Plant (KRP1) is designed to process 200,000 tonnes per annum of Electric Arc Furnace Dust, a production level that will make it the largest furnace dust recycling facility in Asia.

At a zinc metal price of US$2,250 per tonne and using current energy costs, KRP1 would generate underlying earnings of approximately US$31.2 million each year, the company added.

KRP2, the second phase of the development, will process a further 200,000 tonnes of furnace dust per annum and will make ZincOx the third largest recycler of this material in the world.

When in full production, both plants will produce 92,000 tonnes of zinc per annum in a high grade concentrate.

The KRP1 project was developed largely on time and budget at $110m, it added.

ZincOx made a loss of £8 million, down from £112 million, in 2011, on revenues of £1.65 million.

Andrew Woollett, executive chairman, said: We are delighted that our first recycling plant is now in operation and that the process has been successfully demonstrated in Korea.

We are excited by the prospect of the full ramp up on KRP1 while we start the development of KRP2 and push ahead with working up projects elsewhere in the world." 

KRP2 is estimated to cost a further US$100 million and take about 15 months to bring on stream.

Broker Daniel Stewart added that with KRP1 moving into production all eyes will be on the development of KRP2, which stands to double capacity and significantly increase the revenue generation possibilities for the facility.

“Lessons learned in the development of KRP1 will be extremely useful for the development of the second phase,” the broker said, which has a ‘buy’ recommendation and target price  of 139p.

The Kazakhstan operating firm has achieved its daily mining target of 8,000 tonnes of ore at Benkala and remains on track to produce between 3,500 and 5,000 tonnes of copper this year with the plant operating at its normal capacity of 7,500 tonnes per annum.

The company plans to increase production to 20,000 tonnes by the 2014/15 fiscal year.

Frontier added that copper cathode production from Benkala, which the company says is a key milestone for the project, remains on target to begin in June this year.

In the meantime, the company’s Baitemir deposit in the north east of the country continues to show significant potential with the first results from the ongoing drill programme having met expectations.

Drilling will continue ahead of the preparation of a preliminary resource estimate, which is expected to be released in the fourth quarter of the year.

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Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

Dr. Guimarães Campos has over 22 years of experience in the field of estratigraphy, sedimentation and tectonic evolution.

Specifically, his expertise lies in sedimentary, metamorphic and alkaline igneous rock occurrences, as well as sedimentary phosphate deposits and their geological structure within Brazil.

Dr. Campos now serves as the sedimentology, hydrogeology and soil sciences professor at the University of Brasilia, and is a member of the Brazilian Society of Geology (SBG), Regional Advice of Geology (CREA) and the Association of Professors of the University of Brasilia (ADUnB).

"We are extremely excited about our newest addition to the Eagle Star team," said president and CEO of Eagle Star Minerals, Eran Friedlander.

"We believe the expertise, knowledge and contacts that Dr. Guimarães Campos brings to the company are second to none. Furthermore, his decision to come on board lends strong support to the credibility of not only our projects, but our overall strategy moving forward."

Dr. Campos has consulted with many agro-mineral projects throughout different regions of Brazil. He acted as co-advisor to the technical study of the Campos Belos / Itafós Arraias phosphate deposit in Goiás-Tocantins state, now owned and operated by MBAC Fertilizer Corp., which included the in-depth observation of the geological modeling of the deposit.

He also took part in a technical study and discussion of the genesis and controls of the Rocinha phosphate deposit in the Lagamar region of Minas Gerais.

Most recently, he worked in the re-evaluation of the Córrego Rico limestone deposit to cement production, which included regional geology framing, drilling log analysis, and reserves definition, and assisted with geological mapping and mineral deposit characterization for the Brazilian Geological Survey (CPRM).

He obtained his Master's Degree in Geology in 1992, and continued on to complete his Doctorate Degree in 1996, both from the University of Brasilia, FD, Brazil.

"Our team is looking forward to utilizing the phosphate specific knowhow of Dr. Guimarães Campos towards the development of our current projects and we believe that with his regional knowledge of the surrounding geology, more opportunities may also present themselves to Eagle Star," said Friedlander.

The company, which was initially focused on developing its Brazilian Angico iron ore project, said in February it had recognized certain "opportunistic trends" in Brazil over the past year, taking note of a significant lack of sufficient domestic supply of agro-minerals, and as a result, decided to reposition itself to focus on agro-minerals projects in the country.

Earlier this year, Eagle Star acquired the Samba phosphate project located in the western portion of Piaui state in Brazil, and has staked areas with significant potential to host large phosphate deposits.

Under the terms of the recent agreement, Eagle Star can earn a 100 percent interest in the Samba project - which it now considers its flagship property.

The 109,285-hectare Samba property, which consists of 60 mineral claims, is located near the cities of Valenca and Sao Jose do Peixe in Brazil, and near Eagle Star's Ruth phosphate project.

The new asset is also located near potential future end-markets, including the Balsas and Bom Jesus agricultural centres - which are home to a large soy growing industry with production of over 2.3 million tonnes of beans annually - the company said.

The proximity to its own Ruth project is not a coincidence, as preliminary exploration work done at Ruth led Eagle Star's team to investigate other areas with a "similar geological setting", which ultimately led to the discovery and acquisition of Samba.

Celeste is currently focused on the acquisition of an interest in Cornish Minerals Limited, which controls mining rights in the historic Cornish mining region in Cornwall, England, including the South Crofty Mine.

Celeste also assesses other tin, copper and copper-gold properties for exploration and development.

Shoesmith brings Celeste 40 years of commercial experience, having previously been CEO of The Shaw Group, a highly diversified group of companies overseeing operations in specialist engineering, manufacturing and property management.

"I am excited to be working with the Celeste management team to bring its historical Mine project in Cornwall, England back into production," said Shoesmith.

"South Crofty is a poly-metallicproject with the potential scale to create a significant value opportunity for Celeste's shareholders."

Since 2001, Shoesmith has been CEO of Baseresult Holdings, and subsequently Western United Mines, the operating arm of Celeste's partially owned subsidiary Cornish Minerals Limited.

In this capacity, he had oversight of South Crofty and managed all activities in relation to the commercial, governmental  permit, planning and mineral right aspects to the project.

"We are pleased to have Alan join Celeste as he is an experienced senior executive and he has guided the company's key asset, the South Crofty Project, since the mine was acquired in 2001," said chairman of Celeste, Farhad Abasov.

"I know Alan is committed to bringing this important project back into production and helping the Celeste team realize the value that our exciting projects represent for our shareholders. I look forward to working with him."

Celeste also announced Tuesday that Norman Brewster will be resigning as the company's president and CEO, but that he will remain actively involved with the company as a member of the board of directors.

The company said last week that it has extended an earn-in agreement to acquire an initial 25 percent equity interest in Cornish Minerals Limited. The company extended the expiry date of the earn-in agreement, signed in May 2011, to June 30,2012.

The Calgary-based company also recently reported that it has gained additional property assets to facilitate the construction of the future surface infrastructure at South Crofty.

Earlier this year, Cornwall Council – the project’s local mineral planning authority – granted new conditional planning consents for developing new surface mine infrastructure and for the extension of the mine's underground working area to 1,460 hectares from 510 hectares.

SRK Consulting is currently working on the updated technical report, which Silver Bull said will boost resources to 72.13 million ounces of silver in the measured and indicated category and 10.49 million ounces of silver in the inferred category.

The results reported Tuesday were pulled from the upcoming technical report, which is expected within the next 45 days.

"We are extremely pleased with this report and feel this is a big step forward for the company," Silver Bull's president and CEO Tim Barry said.

"This is the third report we have completed on the Shallow Silver Zone in just over one year, during which time we have more than doubled the silver ounces in the ground.

"Moving forward, in addition to our drill program focused on expanding the silver resource further, we have an extensive metallurgical program underway on both the silver and the zinc, which when complete will allow the company to move to the next stage of completing a Preliminary Economic Assessment on the Shallow Silver Zone."

The Shallow Silver Zone at Sierra Mojada is an oxide silver deposit hosted along an east-west trending fracture-karst system.

The mineralized body averages between 30 to 90 metres in thickness, is up to 200 metres wide and remains open in the east and west directions.

Approximately 60 percent of the current 3.8 km strike length is at or near surface before dipping at around 6 degrees to the east.

"We are also confident that with minimal additional extra core drilling targeting high grade areas highlighted by the historical channel and long holes, we can quickly prove up a sizable zinc resource in the Red and White Zinc zones," added Barry.

At a 15 g/t cutoff grade for the silver, the company said the updated resource report represents a 39 per cent increase in the open pittable resource of the Shallow Silver Zone previously reported by Silver Bull in November 2011.

It also represents a 52 per cent increase in the number of silver ounces in the measured and indicated category at the zone.

The mineral resource estimate for the Shallow Silver Zone contained in the SRK report includes a measured silver resource of 3.688 million tonnes at an average grade of 57.0 g/t, equivalent to 6.714 million troy ounces of silver; an indicated silver resource of 45.175 million tonnes at an average grade of 45.0 g/t, equivalent to 65.419 million troy ounces of silver; and an inferred silver resource of 8.162 million tonnes at an average grade of 40.0 g/t, equivalent to 10.496 million troy ounces of silver.

In addition to the silver and zinc resources, Silver Bull said the SRK report will also contain an additional "zinc exploration target" ranging between 4 million tonnes grading 8.4% zinc and 6 million tonnes grading 8.0% zinc, which sits directly below and adjacent to the Shallow Silver Zone.

Vancouver-headquartered Silver Bull Resources' flagship asset is the Sierra Mojada project, located 150 kilometres north of the city of Torreon in Coahuila State, Mexico. It is highly prospective for silver and zinc.

Silver Bull also owns three mineral exploration licences in Gabon, Africa, two of which are currently under joint venture with AngloGold Ashanti (NYSE:AU). These licences are prospective for gold, manganese, and iron ore.

The full technical report for the Shallow Silver Zone is expected within the next 45 days. Further details can be found on the Silver Bull Resources homepage: http://www.silverbullresources.com

The company said that in order to establish a "reasonable prospect of economic extraction in an open pit context", the reported silver resource falls within an optimized Whittle pit shell that uses an average silver price of US$22 per ounce, with an estimated recovery of 62 per cent and a $1.25 per pound of zinc, with an assumed recovery of 95 per cent.