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PLATINUM AND ALLIED METALS.
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989
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contained
some silver, considerable palladium, and a small quantity of iridium. A
specimen of covellite from the mine yielded 1.8 ounces per ton of
platinum and 1.1 ounces of gold. A small quantity of palladium was also
noticed in this sample. The gold is principally in the free state, but
these metallic particles contain no platinum. Low-grade ore from the
mine was found to contain 0.25 ounce of platinum and 0.03 ounce of
gold, besides a trace of palladium.
The
owners of the New Rambler mine have built an experimental mill with the
capacity of 150 tons per day, and are experimenting on theproblem of
the utilization of the lower-grade ores.
The
New Rambler deposit is not unique among the occurrences in the Western
States. A deposit discovered some years ago in southern Nevada east ot
Moapa consists of a dike of peridotite which contains copper minerals
and carries a little platinum, as described in Mineral Resources for
1908 and in a recent bulletin of the Survey.1
PRICES.
The
strong demand for platinum and the remarkable rise in quotations which
began in 1910 continued throughout 1911. The year began with refined
platinum quoted at about $39 per ounce. There was an almost
uninterrupted increase in price until November and December, during
which months the price had risen to $46 per ounce. At the end of
December $48.50 was paid. The demand abated somewhat in the first
months of 1912.
The
following table gives the prices of ingot platinum per troy ounce at
New York, by months, for the calendar years 1908, 1909, 1910, and 1911:
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