rhodium in lcd screen free sample

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An English father of 2 children wanted to wean his children off video games and try and get them interested in Science and the Periodic table of elements, and the different forms they come in. But to collect the raw elements would become messy and could be dangerous. They could always collect the cubes, and although nice for display, they are only showing one medium, and can be expensive to collect. What if they could hold, view, collect and display different forms of different elements in a safe, neat, inexpensive and cool way?

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Rhodium is a rare earth metal which is a silver-white color, chemically inert, hard transition metal. It is a member of the platinum group, along with iridium, osmium, palladium, platinum, and ruthenium. Rhodium is extremely durable with a Vickers Hardness of 1246 MPa. It is resistant to corrosion, oxidation, tarnishing, and scratches, with a boiling point of 3727°C and a melting point of 1966°C. Although it is more costly than most other precious metals, it’s benefits typically are more valuable than the added cost when considering its qualities. The major benefits of rhodium include heat resistance, mechanical wear and chemical protection, electrical conductivity, and friction reduction. Industrial rhodium is particularly precious since it is typically acquired as a by-product of refining other metals, such as copper and nickel. In nature it is found with other platinum group minerals and metals. These characteristics combined with its low electrical resistance makes rhodium commonly used as an electrical contact material for electrical contacts, semiconductor wafers, printed circuit boards (PCBs), and other mission critical components.

Rhodium electroplating is more challenging to electroplate when compared to other precious metals. Additionally, costs are much higher during the plating bath operation, especially if the plating is not done currently. Due to rhodium’s inertness, once plated it cannot be chemically removed for in-process re-work, whereas most other precious metals can be chemically stripped in cases where re-work is required. In the electroplating industry rhodium has a high barrier to entry due to initial costs, with a high cost of failure. The result is a steep learning curve when developing the proper electroplating techniques. Companies looking to electroplate rhodium onto high value parts need to consider the high risk of failure, therefore finding a company experienced in rhodium electroplating is essential. For this reason, there is a shortage of rhodium platers with experience and adequate capabilities to serve the market demand for challenging electroplating projects, making it difficult for manufacturers to work on rhodium plating requirements without a trusted, capable partner.

Semiconductor electroplating typically has precise requirements such as flatness of base material wafers or precise diameters of the interconnected pins for hermetically sealed connectors, with equally tight plating tolerances for the plating thickness and uniformity deposited to the flat wafers or precise diameter electrical connector pins. Often, these wafer assemblies have miniature features such as numerous small wires and stacked chips compacted onto a small wafer diameter which requires only selective areas of the assembly plated. Other applications include contact pins, which are assembled in a hermetically sealed connector build that requires selective plating at the ends of the pins and specifies a very uniform plating deposit due to post plating hermetic sealing assembly requirements. Thus, process control is critical for plating and especially critical for rhodium plating to achieve reliable and repeatable outcomes. The plating bath and the parts being processed must be in its purest form free of dust and particles, and the bath must be frequently maintained and monitored. For this reason ProPlate employs an in-house chemistry department so that chemistries can be proactively managed whereas many electroplating companies do not have in-house chemical testing and management capabilities; which forces these plating operations to wait for weeks or months to receive bath test data that is critical to quality outcomes. ProPlate has offered customers rhodium plating services since inception in 1983, giving it a vast knowledge base of experiences to offer its customers for unique plating projects and production services.

The word “rhodium” originates from the Greek word “rhodon,” which represents the lovely “rose.” When the metal was discovered, the scientist thought that the beautiful rose aptly describes its pinkish red color. Later on, however, the metal was found to have a shiny silver-white color in most cases.

Rhodium (Rh) belongs to the six member noble metals group that includes palladium, ruthenium, iridium, osmium and platinum. These metals exist in common rare metallic ores and exhibit some common characteristics. Rhodium is distinguished by its unique corrosion resistance, hardness, silvery-white metallic appearance and chemical inertness. It does not tarnish and is not prone to corrosion at normal room temperature. That is the secret of its durability, and it is one of the rarest precious metals.

After discovering the rare metal palladium, W. H. Wollaston discovered rhodium while he was trying to separate pure platinum from the ore. He used platinum ore from Peru as the raw material. After separating platinum and palladium from the ore sample, he was left with the residue of a red powder, which was later recognized as sodium rhodium chloride. Research studies state that he had used aqua regia, ammonium chloride and iron to separate palladium. By using hydrogen in the reduction process of the chloride salt of rhodium, he was able to separate rhodium, which had a pinkish hue. (Interested in discovering the properties of various materials? Be sure to read How to Get Started in a Career as a Materials Scientist.)

Rhodium is a highly valued precious material. Most of the metal is used as a catalyst (along with other catalysts) for automobile catalytic converters.

Rhodium compounds should be considered as toxic and carcinogenic. These can also cause strong stains on the skin. If the aerosol of this rare metal is inhaled it can be absorbed by the body, causing the risk of toxicity.

Because it is a rare mineral, there is insufficient data related to its safety. Hence, maximum precautions must be taken while handling, processing and using this material. (For more on safety, read The Dangers of Typical Corrosion Prevention Solutions.)

Rhodium displays many of the common properties of the rare platinum group metals (PGM), which generally have good chemical stability as well as catalytic properties. Additionally, rhodium is a good conductor of heat and electricity. It is corrosion resistant and stain resistant, and is one of the most reflective metals, which makes it a superior precious metal.

Low electrical contact resistance makes rhodium an ideal material for electrical contacts. It is durable, as it generally fails to oxidize even when heated. It absorbs oxygen while melting and releases the absorbed oxygen during solidification. It dissolves in aqua regia, but not in nitric acid.

It has a high melting point of 1,966°C (3,571°F). Thermocouples made of rhodium can accurately measure temperatures up to 1,800°C (3,272°F). This metal has a boiling point of 3,695°C (6,683°F). These properties ensure that it is suitable for high temperature applications.

Most of the reserves of the platinum group of metals (PGMs) are found in South Africa. Production of these metals involves refining the base metals as well as finishing refinery of the precious metals. Steps involved include floatation, comminution, smelting and final conversion. Chrome and oxide ore content often creates challenges for the PGM metal extraction. Proprietary processes using low temperature roasting and bromine (acid) leaching process are able to maximize the yieldof oxide ores and mixed ores containing rhodium (improved to the tune of 65% for rhodium and 85% for platinum).

The normal production process of rhodium is briefly described as follows:Noble metals such as platinum, gold and palladium are first separated by precipitation from the PGM ores

The addition of hydrochloric acid to rhodium hydroxide results in H3RhCl6 (a purified acid solution of rhodium), which is further added to sodium nitrite and ammonium chloride, enabling the precipitation of rhodium

The precipitate of rhodium is allowed to dissolve in hydrochloric acid and heated to remove contaminants by burning and thus the purified rhodium metal is finally produced

Most of the market demand for rhodium is driven by the demand for automobile catalytic converters in Japan, Europe and the United States, and the glass industry demand in Asia. As it is one of the rarest metals, the price is determined by the demand. According to market research studies, increasing Asian demand for the rare metal is due to producers of flat display glass panels.

Rhodium is sometimes applied as a decorative coating on jewelry made of silver and on circuit components, making these products free from tarnish and corrosion. It is applied on decorative products and also used to obtain highly reflective shining surfaces for optical appliances. The electrodeposition process is used to create a durable rhodium coating with a presentable color on jewelry.

Rhodium is also used to produce palladium and platinum alloys that have high hardness and excellent corrosion resistance. These alloys are then used to manufacture catalytic converters and catalytic nets that catalyze chemical reactions. In 1976, three-way catalytic converters were developed by Volvo by using rhodium alloys. This breakthrough helped minimize nitrogen oxide (NOx) emissions from automobiles.

Rhodium is a noble metal, known for its unique corrosion resistance, high temperature chemical stability, durability, shiny appearance and reflectance. It is one of the six rare metals of the platinum group. Rhodium does not tarnish and is not prone to corrosion. It is one of the rarest noble metals with very good durability.

Most of this rare metal is used by the automobile industry to make vehicle catalytic converters that accelerate and catalyze the reduction of nitrogen oxides into nitrogen gas, thus enabling regulatory engine exhaust compliance.

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A method of separating rhodium from platinum and/or palladium includes; chloridizing a raw material including rhodium and at least platinum and/or palladium in chlorine atmosphere and obtaining a soluble salt of platinum and/or palladium; water-leaching chloridized material and dissolving platinum and/or palladium into a solution; filtering the solution; and leaving rhodium in a filtered residue of the solution.

The present invention relates a method of separating rhodium from platinum and/or palladium of raw material including rhodium and at least platinum and/or palladium. 2. Description of the Related Art

Platinum group metal such as rhodium, platinum or palladium is included in a residue collected by distilling selenium from copper-electrolyzed deposition (hereinafter referred to as selenium-distilled residue) or a residue obtained by treating scrap such as an automotive exhaust catalyst including platinum group metal such as rhodium, platinum or palladium (hereinafter referred to as rhodium-treated slag). Japanese Patent Application Publication No. 2004-332041 discloses a method including steps of adding sodium bromate to a solution including platinum group metal, oxidizing ruthenium to RuO4, separating RuO4 by distillation, hydrochloridizing the solution, separating palladium by a solvent extraction with di-n-hexyl sulfide (DHS) and separating platinum and iridium by a solvent extraction with tributylphosphate (TBP) in order, as a method of refining and collecting rhodium, platinum and palladium from the solution.

The platinum group metal such as rhodium, platinum or palladium is poorly soluble in a mineral acid under a normal condition. Aqua regia or a mixed liquid of strong oxidant and hydrochloric acid may solve platinum and palladium but may not dissolve rhodium. When a material including rhodium, platinum and palladium is dissolved in the aqua regia or the mixed liquid of strong oxidant and hydrochloric acid, the platinum and the palladium exposed in the acid may be dissolved but the rhodium may not be dissolved into the acid. Therefore, the platinum and the palladium covered with the undissolved rhodium may not be dissolved. It is therefore difficult to effectively collect rhodium, platinum and palladium from the mixed material including rhodium, platinum and palladium.

Japanese Patent Application Publication No.2003-268457 discloses a method including steps of adding sodium hydrate and sodium nitrate to a solution including platinum group metal, leaching selenium and tellurium with water after melting, adding hydrogen peroxide and hydrochloride acid to a residue including platinum group metal, and dissolving the platinum group metal, as a method of dissolving the platinum group metal such as selenium, tellurium, rhodium, platinum or palladium. Japanese Patent Application Publication No.2005-240170 discloses a method including steps of removing selenium and tellurium by chloridizing and vaporizing in a chlorine gas atmosphere, adding sodium chloride, obtaining soluble salt by chloridizing and roasting the platinum group metal, and dissolving the platinum group metal by water-leaching, as the method of dissolving the platinum group metal such as selenium, tellurium, rhodium, platinum or palladium. However, in the methods, rhodium, platinum and palladium are mixed in an aqueous solution. Solvent extraction of highly concentrated rhodium, platinum and palladium may cause mutual contamination. This may degrade separation efficiency. Therefore, repetition of the solvent extraction causes high cost. It is therefore preferable that rhodium, platinum and palladium are separated from each other with a simple method before dissolving these metals into an aqueous solution in order to collect these metals efficiently. SUMMARY OF THE INVENTION

The present invention has been made in view of the above circumstances and provides a method of separating rhodium from platinum and/or palladium of raw material including rhodium and at least platinum and/or palladium.

According to an aspect of the present invention, there is provided a method of separating rhodium from platinum and/or palladium including: chloridizing a raw material including rhodium and at least platinum and/or palladium in chlorine atmosphere and obtaining a soluble salt of platinum and/or palladium; water-leaching chloridized material and dissolving platinum and/or palladium into a solution; filtering the solution; and leaving rhodium in a filtered residue of the solution.

The method may further include: crushing the raw material including rhodium and at least platinum and/or palladium into particles having grain diameter of 500 µm or smaller; and mixing carbon particle with the crushed raw material.

The method may further include: mixing sodium chloride with the rhodium separated from the platinum and/or palladium; chloridizing the rhodium in chlorine atmosphere and obtaining a soluble salt of rhodium; water-leaching the rhodium and dissolving the rhodium into a solution; filtering the solution; adding sodium bromate to the solution and separating ruthenium from the solution by oxidizing and distilling; and separating palladium, platinum and iridium in order with solvent extraction method. BRIEF DESCRIPTION OF THE DRAWINGS

Other objects, features and advantages of the present invention will become more apparent from the following detailed description when read in conjunction with the accompanying drawings, in which FIG 1 illustrates a treatment flow sheet in accordance with an embodiment of the present invention.

A processing object of this embodiment is a powder including relatively highly concentrated rhodium, platinum and palladium. The object is, for example, selenium-distilled residue generated in a process of distilling and collecting selenium from deposition of copper-electrolytic-refining, or rhodium-treated slag generated in a process of treating a scrap including platinum group metal such as rhodium, platinum or palladium like automotive exhaust catalyst.

It is possible to treat powder having a diameter of 500 µm or smaller such as dried deposition of copper-electrolytic-refining after distilling selenium without any treatment. A raw material including block object such as rhodium-treated slag partially melted in a process of collecting noble metal is crushed into 500 µm or smaller size particles with use of a crusher or a hammer mill in advance.

If the raw material includes a lot of water, the raw material may release water vapor when the raw material is heated in chlorine gas stream. In this case, partial pressure of chlorine may be reduced temporarily, and oxide may be produced. It is therefore preferable that the raw material is dried adequately in advance. The drying condition is not limited. For example, the drying temperature is 100 degrees C to 120 degrees C, and the drying time is 6 to 15 hours. The drying process may be omitted if the raw material includes little water.

The platinum group metal is difficult to be oxidized. However, an oxide layer may be formed on a surface of the platinum group metal. Chloride is not formed from the raw material in a next process of chloridizing treatment if an oxide of rhodium, platinum or palladium in the raw material is formed or rhodium, platinum or palladium in the raw material is oxidized with residual oxygen in an atmosphere. The oxide of rhodium, platinum or palladium is reduced into a metal and is chloridized when carbon particle is mixed into the crushed and dried raw material. The amount of the carbon particle may be determined according to oxidizing condition of the raw material or oxygen amount of the atmosphere gas. It is therefore not possible to determine the amount of the carbon particle. However, it is preferable that an equivalent amount of the carbon particle is twice to four times of a reduction reaction equivalent amount.

Rhodium chloride RhCl3, platinum chloride PtCl4, and palladium chloride PdCl3 are generated when the carbon-mixed material including rhodium, platinum and palladium are heated in the chlorine gas stream. A preferable heating temperature is 750 degrees C to 880 degrees C, and more preferable temperature is 780 degrees C to 850 degrees C, When the heating temperature is too low, the platinum group metals are not chrolidized sufficiently. Therefore, the platinum and the palladium may not be chloridized, and the platinum and the palladium are not separated sufficiently in the next process of water leaching. When the heating temperature is too high, the generated chloride vaporizes and collecting rate is reduced. The clrolidizing reactions of rhodium, platinum and palladium in the chloridizing process are shown as follows. 2Rh + 3Cl2 → 2RhCl3

A large part of impurity of the raw material is chloridized in the chloridizing process. It is possible to separate a volatile component such as selenium chloride or tellurium chloride from the platinum group metal because the volatile component vaporizes. It is preferable that the temperature of these chlorides is kept at volatile temperature during temperature rising process and the volatile chlorides are vaporized and separated, when the material includes a lot of volatile component. It is possible to separate the selenium at approximately 200 degrees C for an hour. It is possible to separate the tellurium at approximately 440 degrees C for an hour.

An amount of chlorine gas for the chloridizing process is not limited particularly. An equivalent amount of the chlorine gas in the reaction plus an amount of the chlorine gas for maintaining the chlorine atmosphere in the furnace is needed at least. An excessive amount of chlorine is needed in view of the reaction of the impurity of the raw material and the chlorine gas. The chloridizing process time is not limited particularly, but is preferably 1 to 10 hours, and is more preferably 3 to 6 hours.

Next, the treated material is washed with water. The chlorides of platinum and palladium are dissolved. And, the solution is filtered. This results in residual of in soluble rhodium chloride in the residue. It is therefore possible to separate the rhodium from the platinum and the palladium. Water-soluble component such as copper chloride is dissolved into the solution together with the platinum and the palladium. Water-insoluble component such as chlorides of ruthenium and iridium are left in the residue together with the rhodium. The amount of water for water-washing is not particularly limited. However, it is preferable that the residue is water-washed sufficiently, because the separation is degraded when the solution is left as adhesive water. On the other hand, the collectivity of the platinum and the palladium is degraded when the concentration of the platinum and the palladium is reduced. It is therefore preferable that the solution is heated and is concentrated.

The temperature in the water-washing process is not particularly limited. The chlorides of platinum and palladium may be dissolved at normal temperature.

It is possible to collect the platinum and the palladium in the solution obtained by the water-washing with a known method. For example, "Development of Hydrometallurgical Process of Copper Anode Slimes in Nippon Mining & Metals" by Akinori TORAIWA and Yoshifumi ABE, JOURNAL OF THE MINING AND MATERIALS PROCESSING INSTITUTE OF JAPAN, vol. 116, pp.484-492 (2000) discloses a method of collecting platinum and palladium from a solution including platinum group metal with a solvent extraction method. With the method, the platinum is extracted with TBP (tributyl phosphate), is back extracted and is refined. This results in crystallization of ammonium chloroplatinate, when ammonium chloride is added. The ammonium chloroplatinate is heated and degraded into platinum sponge. Palladium is extracted with di-n-hexyl sulfide (DHS), back-extracted liquid is neutralized with hydrochloric acid, and dichlorodiamminepalladium is crystallized. The dichlorodiamminepalladium is heated and degraded into palladium sponge.

Water-washed residue including rhodium is dried and crushed. Sodium chloride and carbon particle are added to the crushed residue, and are mixed sufficiently. This mixed matter is put into a silica container, is heated in a chlorine gas stream, and is subjected to a chloridizing roasting treatment. With the processes, soluble salt of rhodium is obtained. Preferable heating temperature is 700 degrees C to 850 degrees C. More preferable heating temperature is 750 degrees C to 830 degrees C. The treating time is not particularly limited, is preferably 1 to 10 hours, and is more preferably 3 to 6 hours.

Chlorine gas is not contributed to the reaction. However, the rhodium chloride is dissociated into chlorine gas at 550 degrees C or more. It is therefore necessary to maintain chlorine atmosphere. The chlorine gas restrains degradation of chloride. It is necessary to maintain chlorine atmosphere at 550 degrees C or more at least. An amount of chlorine gas for chloridizing and roasting treatment is not particularly limited. However, an amount for maintaining the chlorine atmosphere is needed at least.

An adding amount of sodium chloride is preferably 1 to 7 times as reaction equivalent amount of the reactions mentioned above. A rate of chloridized-vaporized treated material is reduced with respect to a total amount to be put into the furnace, when the adding amount of sodium chloride. This results in degradation of treatment efficiency. The adding amount is preferably 3 to 5 times. Platinum group metal such as ruthenium or iridium reacts with and uses sodium chloride. Therefore the platinum group metal may be considered in the adding amount of sodium chloride.

The adding amount of carbon particle may be a little, because the carbon particle has only to reduce an oxide layer formed in the drying process of the residue and remove oxygen in atmosphere gas.

The chloridizing-roasting treated material is water-leached, and dissolves the soluble salt of rhodium. The water-leaching condition is not particularly limited. It is however preferable that warm water of 50 to 90 degrees C is used in order to facilitate leaching, because a part of the chloridizing and roasting treated material may be melted. Here, ruthenium, iridium and a small amount of platinum and palladium not dissolved into the solution are dissolved into water.

The residue including insoluble unreacted rhodium, carbon particle, and insoluble impurity is filtered and separated. Thus, a rhodium-leached liquid including impurity is obtained.

Ruthenium is separated and collected from the rhodium-leached liquid including impurity with an oxidizing and distilling method. Sodium bromated is added to the rhodium-leached liquid including impurity as an oxidant in a distilling device. And ruthenium is oxidized to ruthenium tetroxide. The ruthenium tetroxide is easy to be vaporized when the ruthenium tetroxide is heated to 70 to 95 degrees C, because a boiling temperature of the ruthenium tetroxide is approximately 130 degrees C. Therefore, air is blown into the ruthenium-leached liquid. The ruthenium tetroxide is introduced into the hydrochloric acid, and is converted into ruthenium chloride. Thus, ruthenium is collected.

It is possible to refine and collect rhodium from the solution including rhodium separated from ruthenium, with following methods. (1) Copper, iron, lead and so on are extracted from the solution including rhodium with di-2-ethylhexyl phosphoric acid (D2EHPA).

(2) An oxidant such as sodium hypochlorite is added to the solution of process (1). The solution is heated. Iridium in the solution is oxidized to tetravalent. The solution is adjusted to hydrochloric acid solution. Iridium and platinum are extracted with TBP.

(4) Neutralized rhodium is obtained by neutralizing the solution (3) with sodium hydrate. The neutralized rhodium is water-washed, and sodium is removed. After that, rhodium is dissolved with hydrochloric acid.

A description will be given of examples. Selenium was distilled and collected from copper-electrolyzed deposition. Carbon particle of 450 g for reducing surface oxide layer and restraining oxidation was mixed with the selenium-distilled residue of 10 kg. The selenium-distilled residue had particle size of 500 µm or smaller. Therefore, the selenium-distilled residue was not crushed. Table 1 shows composition and contained amount of the selenium-distilled residue. Palladium amount and platinum amount were respectively 1.75 times and 1.4 times as rhodium amount included in the selenium-distilled residue.

The mixed material was put into a silica boat. The silica boat had been housed in a tube furnace having silica core tube at 200 degrees C and 440 degrees C for one hour respectively with chlorine gas being flown after starting of temperature rising, and at 850 degrees C for 5 hours. Thus, the mixed material was subjected to a chloridizing treatment.

The treated material was water-washed with pure water at room temperature, and filtered and separated with a vacuum filtration device. Thus, 12 L of water wash liquid including platinum and palladium was obtained. Table 2 shows composition, contained amount and leaching rate of the leach liquid. Platinum and palladium were dissolved into the water wash liquid. However, little rhodium, ruthenium and selenium were dissolved into the water wash liquid. pH after water washing was 1.2 indicating acidic property. This is because chloridized material trapped chlorine gas and hydrochloric acid was generated in the water wash liquid.

Water wash residue had been dried in a drier of 100 degrees C temperature for 12 hours. The residue had weight of 2,050 g after drying. The weight of the residue was largely reduced because chlorides of selenium and tellurium having high stream pressure were generated in the chloridizing process and were vaporized. Sodium chloride of 4.2 kg and carbon particle of 280 g were mixed with the residue. The mixed material was put into a silica boat. The silica boat had been housed in a tube furnace having silica core tube at 780 degrees C for 3 hours with chlorine gas being flown. Thus, the mixed material was subjected to a chloridizing and roasting treatment.

The treated material was leached in a warm water of 80 degrees C, and filtered and separated with a vacuum filtrate device. Thus, rhodium-leached liquid including impurity of 27 L was obtained. Table 3 shows composition, contained amount, and distribution ratio of the leach liquid. Concentrations of palladium and platinum were 1/10 or smaller of that of rhodium.

The distribution ratio of rhodium was 93 % with respect to the selenium-distilled residue. Therefore, approximately all amount of rhodium was water-leached. The distributions of rhodium and platinum were 1.5 % and 4.1 % respectively. It was therefore possible to easily separate rhodium from palladium and platinum of the raw material including rhodium, palladium and platinum.

On the other hand, the distribution ratio of ruthenium into the water leach liquid was 37 % indicating low. This is because the temperature of the chloridizing process was high and ruthenium chloride was vaporized. Rhodium chloride was difficult to vaporize, compared to ruthenium chloride. Therefore, high distribution ratio was obtained.

As shown in Table 3, the water leach liquid included a lot of ruthenium. Sodium bromated acting as oxidant was added to the water leach liquid. The water leach liquid had been subjected to distilling treatment at 80 degrees C for 2 hours. And ruthenium was removed. Rhodium was refined with solvent extraction method or the like and was collected as rhodium black by reducing with formic acid, because a little impurity such as platinum and palladium was included. The rhodium black was roasted in 5% hydrogen-argon gas because the rhodium black included a lot of oxygen. Thus, rhodium was obtained. The metal component was measured with glow-discharge mass spectrometry (GDMS) method. Oxygen content was measured with an oxygen analyzer made by LECO co. Thus, the grade of the rhodium particle was measured. Table 4 shows the measured result of rhodium. The collected rhodium included a little impurity. The grade of the rhodium was 99.9 mass % or more.

In a second example, a raw material was rhodium-treated slag by treating scrap such as automotive exhaust catalyst including platinum group metal such as rhodium, platinum or palladium. The rhodium-treated slag was crushed with a hammer mill and was filtered with a mesh of 500 µm opening. Thus particle sample was obtained. Table 5 shows composition and contained amount of the crushed rhodium-treated slag. Palladium amount and platinum amount were 2.6 times and 1.7 times respectively as rhodium amount in the rhodium-treated slag.

The mixed material was put into a silica beaker having 200 ml content. The silica beaker had been housed in a tube furnace having silica core tube at 200 degrees C and 440 degrees C for one hour respectively with chlorine gas being flown after starting of temperature rising, and at 780 degrees C for 3 hours. Thus, the mixed material was subjected to a chloridizing treatment.

The treated material was water-washed with pure water at room temperature, and was filtered and separated with a vacuum filtration device. Thus, 1.2 L of water wash liquid including platinum and palladium was obtained. Table 6 shows composition, contained amount and leaching rate of the leach liquid. Platinum, palladium and copper were dissolved into the water wash liquid. However, little rhodium, ruthenium and iridium were dissolved into the water wash liquid. pH after water washing was 1.4 indicating acidic property.

Water wash residue was dried with the same method as the first example. Sodium chloride of 148 g and carbon particle of 3.5 g were mixed with the residue. And the residue was subjected to a chrolidizing and roasting treatment. The mixed material was put into a silica beaker. The silica beaker had been housed in a tube furnace having silica core tube at 780 degrees C for 3 hours with chlorine gas being flown. Thus, the mixed material was subjected to a chloridizing and roasting treatment.

The treated material was leached in a warm water of 80 degrees C, and filtered and separated with a vacuum filtrate device. Thus, rhodium-leached liquid including impurity of 0.55 L was obtained. Table 7 shows composition, contained amount, and distribution ratio of the leach liquid. Concentrations of palladium and platinum were 1/19 and 1/29 of that of rhodium respectively.

Therefore, approximately all amount of rhodium was water-leached. The distribution ratios of palladium and platinum were 2.0 % and 1.9 % respectively. It was therefore possible to easily separate rhodium from palladium and platinum in the raw material including rhodium, palladium and platinum.

Ruthenium was distilled and separated from the water leach liquid with the same method as the first example. After that, rhodium was refined with a solvent extraction method or the like. Rhodium was obtained by reducing with formic acid and roasting. Table 8 shows the measured result of rhodium. The collected rhodium included a little impurity. The grade of the rhodium was 99.9 mass % or more.

In a third example, crushed rhodium-treated slag of 90 g obtained with the same treatment of the second example had been subjected to the chloridizing treatment at 850 degrees C for 5 hours. The other chloridizing treatment was the same as the second example.

The treated material was water-washed with pure water at room temperature, and was filtered and separated with a vacuum filtration device. Thus, 1.3 L of water wash liquid including platinum and palladium was obtained. Table 9 shows composition, contained amount and leaching rate of the leach liquid. Platinum, palladium and copper were dissolved into the water wash liquid. However, little rhodium, ruthenium and iridium were dissolved into the water wash liquid. pH after water-washing was 1.5 indicating acidic property.

Water-washed residue was subjected to a chlodizing and roasting treatment with the same method and the same condition as the second example. The treated material was leached in a warm water of 80 degrees C, and filtered and separated with a vacuum filtrate device. Thus, rhodium-leached liquid including impurity of 0.52 L was obtained. Table 10 shows composition, contained amount, and distribution ratio of the leach liquid. Concentrations of palladium and platinum in the leach liquid were 1/20 and 1/35 of that of rhodium respectively.

Therefore, approximately all amount of rhodium was water-leached. The distribution ratios of palladium and platinum were 1.8 % and 1.6 % respectively. It was therefore possible to easily separate rhodium from palladium and platinum of the raw material including rhodium, palladium and platinum. On the other hand, the distribution ratio of ruthenium into the water leach liquid was 43 % indicating low. This is because the temperature of the chloridizing process was high and ruthenium chloride was vaporized. Rhodium chloride was difficult to vaporize, compared to ruthenium chloride. Therefore, high distribution ratio was obtained.

Ruthenium was distilled and separated from the water leach liquid with the same method as the first example. After that, rhodium was refined with a solvent extraction method or the like. Rhodium was obtained by reducing with formic acid and roasting. Table 11 shows the measured result of rhodium. The collected rhodium included a little impurity. The grade of the rhodium was 99.9 mass % or more.

A description will be given of comparative examples. In a first comparative example, the rhodium-treated slag shown in Table 5 of the second example was not crushed. Carbon particle was mixed to the rhodium-treated slag. The other chloridizing treatment was the same as the second example. The rhodium-treated slag before crushing was granulated powder having a particle diameter of 0.2 mm to 2 mm.

The treated matter was water-washed with pure water at room temperature, and was filtered and separated with a vacuum filtration device. Thus, water wash liquid including platinum and palladium of 1.4 L was obtained. The collected material on a paper filter was dried. Thus, water-washed residue of 69.5 g was obtained. Table 12 shows composition, contained amount, and distribution ratio of the water wash liquid. Table 13 shows composition, contained amount, and distribution ratio of the water-washed residue. Palladium, platinum and copper were dissolved into the water wash liquid. The distribution ratios of palladium, platinum and copper were 29 %, 16 %, and 40 % respectively indicating low. Palladium and platinum were left in the water-washed residue. Therefore, rhodium was not separated from palladium and platinum sufficiently. Configuration of the water-washed residue was measured with an X-ray diffraction. As a result, palladium and platinum were left as metal. It was therefore confirmed that internal portion of particle was not chloridized because the particle size was large.

In a second comparative example, the rhodium-treated slag shown in Table 5 of the second example was crushed. The carbon particle was not mixed to the particle sample filtered with the filter having an opening of 500 µm. The other chloridizing treatment was the same as the second example.

The treated matter was water-washed with pure water at room temperature, and was filtered and separated with a vacuum filtration device. Thus, water wash liquid including platinum and palladium of 1.3 L was obtained. The collected material on a paper filter was dried. Thus, water-washed residue of 54.9 g was obtained. Table 14 shows composition contained amount, and distribution ratio of the water wash liquid. Table 15 shows composition, contained amount, and distribution ratio of the water-washed residue Palladium, platinum and copper were dissolved into the water wash liquid. The distribution ratios of palladium, platinum and copper were 46 %, 33 %, and 55 % respectively indicating low. Palladium and platinum were left in the water-washed residue. Therefore, rhodium was not separated from palladium and platinum sufficiently. Configuration of the water. washed residue was measured with an X-ray diffraction. As a result, palladium and platinum were left as oxide. It was therefore confirmed that internal portion of particle was not chloridized because there was surface oxide layer.

In a third comparative example, the rhodium-treated slag shown in Table 5 was chloridized at 700 degrees C. The other chloridizing treatment was the same as the second example.

The treated matter was water-washed with pure water at room temperature, and was filtered and separated with a vacuum filtration device. Thus, water wash liquid including platinum and palladium of 1.2 L was obtained. The collected material on a paper filter was dried. Thus, water-washed residue of 52.9 g was obtained. Table 16 shows composition, contained amount, and distribution ratio of the water wash liquid. Table 17 shows composition, contained amount, and distribution ratio of the water-washed residue. Palladium and platinum were dissolved into the water wash liquid. The distribution ratios of palladium and platinum were 49 % and 28 % respectively indicating low. Palladium and platinum were left in the water-washed residue. Therefore, rhodium was not separated from palladium and platinum sufficiently. Configuration of the water-washed residue was measured with an X-ray diffraction. As a result, palladium and platinum were left as metal. It was therefore confirmed that internal portion of particle was not chloridized because the chloridizing temperature was low.

In a fourth comparative example, the rhodium-treated slag shown in Table 5 was chloridized at 900 degrees C. The other chloridizing treatment was the same as the second example.

The treated matter was water-washed with pure water at room temperature, and was filtered and separated with a vacuum filtration device. Thus, water wash liquid including platinum and palladium of 1.3 L was obtained. The collected material on a paper filter was dried. Thus, water-washed residue of 45.0 g was obtained. Table 18 shows composition, contained amount, and distribution ratio of the water wash liquid. Table 19 shows composition, contained amount, and distribution ratio of the water-washed residue. Palladium and platinum were dissolved into the water wash liquid. The distribution ratios of palladium and platinum were 66 % and 67 % respectively. Concentrations of palladium and platinum in the water-washed residue were 5 % or smaller indicating low. Therefore, palladium and platinum were separated from rhodium sufficiently. On the other hand, rhodium was hardly dissolved into the water wash liquid. And the distribution ratio of rhodium into the water-washed residue was 67 % indicating low. This is because the speed of the chloridizing treatment was high and rhodium chloride was vaporized in the chloridizing treatment. And the collecting rate of rhodium was lowered.

The present invention is not limited to the specifically disclosed embodiments, but include other embodiments and variations without departing from the scope of the present invention.

chloridizing a raw material including rhodium and at least platinum and/or palladium in chlorine atmosphere and obtaining a soluble salt of platinum and/or palladium; water-leaching chloridized material and dissolving platinum and/or palladium into a solution;

VANCOUVER, British Columbia, March 12, 2020 (GLOBE NEWSWIRE) -- ValOre Metals Corp.(TSX‐V: VO) ("ValOre") today announced initial rhodium (Rh) assay results for 51 historical, pulverized drill core samples (pulps) from the Pedra Branca Platinum Group Elements and Gold (PGE+Au) project in northeastern Brazil. This is the first-time rhodium has been assayed in drill core at Pedra Branca.

Key Point Summary: Rhodium is a rare and valuable platinum group metal. The spot price of which has risen dramatically over the past 18 months from below US$4,000 per ounce in mid-2019 to the current price of US$11,500;

A strong correlation was noted between 2PGE+Au grade (palladium + platinum + gold) and rhodium grade, with the 5 highest-grade 2PGE+Au pulps exhibiting 4 of the highest Rh assay values;

The Esbarro deposit returned the best results, with 6 of 8 pulps over the detection limit, including the highest-grade assay of 1.44 grams Rh/tonne, and the highest average grade (0.35 g Rh/t);

21 of the 51 pulps (41%) collected from five deposit areas making up the global NI 43-101 2PGE+Au inferred resource returned rhodium values over detection limit (0.01 g Rh/t).

ValOre’s Chairman and CEO, Jim Paterson stated: “Rhodium was previously undocumented in drilling related data at Pedra Branca; however, with these results we can see the correlation between the higher grades of palladium, platinum and rhodium in drill core and our team is excited to utilize this knowledge to help us in the exploration and discovery process on a regional scale.”

Fifty-one (51) historical Pedra Branca drill core pulp samples were submitted for rhodium assay at SGS Geosol, Minas Gerais. Batches of approximately 10 pulps from each of the existing five NI 43-101 PGE+Au deposits were selected on the following basis: a range of 2PGE+Au grades (from >2 to >44 g/t) and intercept depths (from near surface to >86m) to assess trends in rhodium distribution. A strong positive correlation of Rh grade to 2PGE+Au grade was evident, with the 5 highest-grade 2PGE+Au samples returning 4 of the highest Rh values. There was no observable trend in Rh grade distribution based on drill intercept depth.

The Esbarro deposit (394,000oz at a grade of 1.23 g 2PGE+Au/t) returned the best results, with 6 of 8 pulps assaying greater than detection limits, the highest-grade Rh assay (1.44 g Rh/t), and the highest average grade (0.35 g Rh/t). The Cedro deposit (151,000oz at a grade of 1.10 g 2PGE+Au/t) performed second-best, with 6 of 11 pulps assaying over detection, and the Curiu (100,000 oz @ 1.93 g 2PGE+Au/t) and Trapia (219,000 oz @ 1.11 g 2PGE+Au/t) deposits returned 4 of 8 and 4 of 12 pulps over detection, respectively. The Santo Amaro deposit (203,000oz at a grade of 1.19 g 2PGE+Au/t) returned no assays over Rh detection limit.

Rhodium assay results (SGS Geosol, Minas Gerais) from historical Pedra Branca drill core pulps are summarized in the following table: DepositDrill HoleSampleDepth From (m)Depth To (m)Historical Pd+Pt+Au (g/t)Rh (g/t)

Further supporting ValOre’s initial review of Rh at Pedra Branca is an independent petrographic and x-ray diffraction (XRD) study conducted by Pathor Geological Consulting Ltd. at the University of Western Ontario in September, 2019. Pathor’s research identified As-Rh-bearing mineral inclusions and Bi-Pd tellurides occurring as anhedral or stringy inclusions within rims and cores of chromite, pyrite, and pentlandite (Banerjee and Botor, 2019).

While Rh in drill core or in soils has not been previously analyzed at Pedra Branca, there are some historical rock assay datasets that reported rhodium values. The historical Rh-in-rock data exhibits the positive correlation to high-grade 2PGE+Au rock samples, as illustrated in Figure 1.

Rhodium is the rarest of the platinum group metals, only occurring up to one part per 200 million in the Earth"s crust. The main use for rhodium is in catalytic converters designed to clean vehicle emissions.  Due to its brilliance and resistance to oxidation, it is also used as a finish for jewelry, LCD monitors, and mirrors. In the chemical industry it is used in the production of nitric acid, acetic acid and hydrogenation reactions. Rhodium is found in platinum and nickel ores together with the other PGEs. South Africa is the world’s largest producer of rhodium (~80%) followed by Russia (~10%), Zimbabwe (~4%), Canada and the U.S.A.

The technical information in this news release has been prepared in accordance with Canadian regulatory requirements as set out in NI 43-101 and reviewed and approved by Colin Smith, P.Geo., New Project Review, ValOre Metals Corp.

Historical Pedra Branca drill core pulps were collected from the secured core logging and storage facility located in Capitão Mór, Ceará, Brazil. Selected pulp samples were sent with an ensured chain of custody to SGS Geosol, Vespasiano, Minas Gerais (Brazil) for analysis, which is accredited mineral analysis laboratory. All pulp samples were analyzed for Rh content using standard 50g Fire Assay Atomic Absorption ICP-MS. Certified PGE ore reference standards, blanks and field duplicates were inserted as a part of ValOre’s quality control/quality assurance program (QA/QC).  No QA/QC issues were noted with the results reported herein.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Please visit ValOre’s website to view an updated corporate presentation and Pedra Branca project summary: http://www.valoremetals.com/investors/presentations-downloads/

ValOre Metals Corp. (TSX‐V: VO) is a Canadian company with a portfolio of high‐quality exploration projects. ValOre’s team aims to deploy capital and knowledge on projects which benefit from substantial prior investment by previous owners, existence of high-value mineralization on a large scale, and the possibility of adding tangible value through exploration, process improvement, and innovation.

In May 2019, ValOre announced the acquisition of the Pedra Branca Platinum Group Elements (PGE) property, in Brazil, to bolster its existing Angilak uranium, Genesis/Hatchet uranium and Baffin gold projects in Canada.

The Pedra Branca PGE Project comprises 38 exploration licenses covering a total area of 38,940 hectares (96,223 acres) in northeastern Brazil. At Pedra Branca, 5 distinct PGE+Au deposit areas host, in aggregate, a NI 43-101 Inferred Resource of 1,067,000 ounces 2PGE+Gold (Palladium, Platinum and Gold; Pd, Pt+Au) contained in 27.2 million tonnes (“Mt”) grading 1.22 grams 2PGE+Gold per tonne (“g 2PGE+Au/t”) (see ValOre’s July 23, 2019 news release). PGE mineralization outcrops at surface and all of the inferred resources are potentially open pittable.

Comprehensive exploration programs have demonstrated the "District Scale" potential of ValOre’s 89,852-hectare Angilak Property in Nunavut Territory, Canada that hosts the Lac 50 Trend having a NI 43‐101 Inferred Resource of 2,831,000 tonnes grading 0.69% U3O8, totaling 43.3 million pounds U3O8. For disclosure related to the inferred resource for the Lac 50 Trend uranium deposits, please refer to ValOre"s news release of March 1, 2013.

ValOre’s team has forged strong relationships with sophisticated resource sector investors and partner Nunavut Tunngavik Inc. (NTI) on both the Angilak and Baffin Gold Properties. ValOre was the first company to sign a comprehensive agreement to explore for uranium on Inuit Owned Lands in Nunavut Territory and is committed to building shareholder value while adhering to high levels of environmental and safety standards and proactive local community engagement.

For further information about, ValOre Metals Corp. or this news release, please visit our website at www.valoremetals.com or contact Investor Relations toll free at 1.888.331.2269, at 604.646.4527, or by email at contact@valoremetals.com.

This news release contains “forward-looking statements” within the meaning of applicable securities laws. Although ValOre believes that the expectations reflected in its forward-looking statements are reasonable, such statements have been based on factors and assumptions concerning future events that may prove to be inaccurate. These factors and assumptions are based upon currently available information to ValOre. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. A number of important factors including those set forth in other public filings could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include the future operations of the Company and economic factors. Readers are cautioned to not place undue reliance on forward-looking statements. The statements in this press release are made as of the date of this release and, except as required by applicable law, ValOre does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. ValOre undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of ValOre, or its financial or operating results or (as applicable), their securities.

On May 19, 2011, Deutsche Bank issued db Physical Rhodium ETC securities.Johnson Matthey recently (Nov. 15, 2011) forecast that the metal will remain in surplus (by 123,000 troy ounces (one troy ounce (oz) = 31.10 grams)) in 2011, and now its price has fallen from a "stratospheric" level of over $10,000/oz in June 2008 to "languish" around $1,700 (midprice on Nov. 30, 2011), somewhat lower than that of gold. So, what"s with rhodium?

The platinum group metals, or PGMs, of which rhodium is one, are a group of six metals clumped together pretty much in the middle of the periodic table. The others are iridium, osmium, palladium, platinum and ruthenium. The metal, which is extremely difficult to separate from the other metals with which it naturally occurs (including the other PGMs), is always produced as a byproduct of the extraction of these others; no such thing as a rhodium mine exists.

The English chemist, William Hyde Wollaston discovered the metal in 1803, soon after he discovered palladium and around the same time Smithson Tennant (also English) discovered both osmium and iridium. The rarity of the metal, the fact that it is a byproduct, and the complexity of (and costs involved in) its extraction have all, historically, contributed to robust pricing over the last 80 years, and especially in the last couple of decades.

An autocatalyst, which sits inside a motor vehicle"s catalytic converter (itself placed between its engine and muffler), is a metal, or ceramic, honeycomb coated with PGMs (of which rhodium is one) and various chemicals.

In gasoline-poweredvehicles, the autocatalyst converts over 90 percent of the carbon monoxide, oxides of nitrogen and unburned hydrocarbons into carbon dioxide, nitrogen and water vapor (often appearing as drips from out of the auto"s muffler). In diesel-powered vehicles, in addition to the equivalent amounts of hydrocarbons and carbon monoxide that are converted to more harmless compounds, so too is 30-40 percent of the potentially carcinogenic diesel particulate matter.

Since the first production vehicle was fitted with a catalytic converter back in 1974, their use has flourished and now catalytic converters are fitted to over 85 percent of all the new vehicles sold each year worldwide.

To put the effects they have in context, back in 1960, a gasoline-powered vehicle would typically, for every mile driven, spew out 100 grams of carbon monoxide, hydrocarbons and oxides of nitrogen. By 2004, this had been reduced to just some 2 grams, and autocatalyst development continues today.

Rhodium, because of its hardness and both its resistance to corrosion and high melting point (higher than that of platinum), is currently used in three main types of glass manufacturing, that of: thin-film transistor liquid crystal display (TFT-LCD) panels, glass fibers and, increasingly, in solar photovoltaic (PV) panels.

In the manufacture of TFT-LCD panels (used in TVs, monitors and displays), platinum and rhodium are used to line the channels, melting tanks and stirring cells, not only because they can withstand temperatures up to 1,650ºC, but also because they are inert. This last is of particular importance, as the glass substrate cannot contain any charge-bearing particles that may interfere with the function of the TFT laid down on it.

In the manufacture of glass fibers, the molten glass is drawn through an array of many tiny, uniform, orifices or nozzles, set in what is called a bushing — essentially just a box out of which they stick. These nozzles are made of a platinum/rhodium alloy.

Finally, rhodium is also used in the manufacture of the glass used in solar panels, which are required to be as defect free as possible and "highly transmissive."

In the chemical industry, rhodium catalysts are used in the production of aldehyde, which, with hydrogenation, leads to an oxo-alcohol, and in the production of acetic acid using the Monsanto process. (According to Johnson Matthey, the rising demand for rhodium in the chemical sector is being driven "by downstream demand for paints and adhesives, particularly in China.")

It will come as no surprise that by far the largest producer of rhodium is South Africa, which, in 2011, is forecast to produce some 650,000 oz out a total global supply figure for the mined metal of an estimated 768,000 oz. Recycling of autocatalysts is anticipated to amount to some 260,000 oz in 2011.

Source: Forecast production figures from Johnson Matthey, who notes that: "Supply figures represent estimates of sales by the mines of primary pgm and are allocated to where the initial mining took place rather than the location of refining."

Since primary rhodium is produced only alongside other PGMs, on the mining front, anyway, no rhodium mining "pure play" exists. And the big rhodium producers are, therefore, necessarily, the big producers of the other PGMs.

Investors can invest directly, buying the physical metal in ingot or as sponge, and "directly" through, e.g., Deutsche Bank"s Physical Rhodium ETC, this last giving the investor an entitlement to the physical metal.

As to the rationale behind an investment in rhodium, there a number of factors that should be carefully considered. Some of the more obvious are: Rhodium is, first and foremost, an industrial metal — with all that implies

There is also one other aspect of investing in rhodium (and some other industrial metals) that should be considered. While, according to Johnson Matthey, net inflows (to late September) to the Deutsche Bank ETC accounted only for about 14,000 oz, were such inflows to become significant, then any investment decision would need to factor in such demand, in addition to that from industry. This can only add further complexity to the investment process.

VANCOUVER, British Columbia, Nov. 19, 2020 (GLOBE NEWSWIRE) -- ValOreMetals Corp. (“ValOre”; TSX‐V: VO; OTC: KVLQF; Frankfurt: KEQ0, “the Company”) today announced rhodium (“Rh”) assay results for twenty-one historical drill core pulps from ValOre’s 100%-owned Pedra Branca Platinum Group Element (“PGE”) Project in northeastern Brazil. Anomalous rhodium values, ranging from <0.01 grams per tonne rhodium (“g/t Rh”) to 0.72 g/t Rh, with an average grade of 0.25 g/t Rh, are reported in 18 of the 21 pulp samples submitted.

“Rhodiummineralizationmay become asignificantvalue driver forourPedra BrancaPGEproject,” stated ValOre’s Chairman and CEO, Jim Paterson. “Based on the encouraging resultsreleased today,as well as those releasedby the Companyin March,we havecommenced a broadrhodiumre-assaying programfor allhistorical pulps grading >2.0 g/t2PGE+Au.”

Rhodium AssayHighlightsof Historical Drill Core Pulps fromPedra Branca Spot price of rhodium has risen dramatically since ValOre acquired the Pedra Branca project in August 2019 from US$12,000;

ValOre is the first exploration group to assess rhodium mineralization at Pedra Branca; see initial Rh results presented in ValOre news release dated March 12, 2020;

Substantiates positive correlation between 2PGE+Au grade and Rh grade, and warrants a broadening of scope to include all historical drill core samples that grade over >2.0 g/t 2PGE+Au;

Twenty-one Pedra Branca historical drill core pulp samples were submitted for rhodium assay analyses at SGS Geosol, Minas Gerais. The pulps were collected, weighed and packaged in ValOre’s secured core logging and storage facility in Capitão Mór, Brazil. A minimum sample weight of 50 grams ensured an adequate sample for assay. This is a follow-up program to the inaugural rhodium assaying campaign, which entailed the collection of fifty-one historical drill core pulps, or approximately 10 pulps from each of the five NI 43-101 deposits (see news release dated March 12, 2020).

To further test the grade relationship between rhodium and 2PGE+Au, the 21 pulps were selected on the basis of high-grade 2PGE+Au historical core assays, i.e. those with a threshold of ≥10 g/t 2PGE+Au (with minor exceptions). Sixteen pulps were submitted from the Curiu deposit, which hosts a resource of 1.6 million tonnes (“Mt”) with a grade of 1.93 g/t 2PGE+Au for approximately 100,000 ounces; four pulps from the Esbarro deposit, which hosts a resource of 9.9 Mt at a grade of 1.23 g/t 2PGE+Au for 394,000 ounces; and one pulp from the Santo Amaro deposit, which hosts a resource of 5.3 Mt at a grade of 1.19 g/t 2PGE+Au for 203,000 ounces (see news release dated July 23, 2019 for full summary of ValOre’s NI 43-101 resource statement for Pedra Branca). See Table 1 for a summary of rhodium results reported herein.

Table 1: Rhodium Assay Results from historical drill core pulps,Pedra BrancaPGE Project: DepositDDHSampleAu (g/t)Pd (g/t)Pt (g/t)2PGE+Au (g/t)Rh (g/t)3PGE+Au (g/t)

Based on these encouraging results, an additional pulp re-assaying program is being undertaken, whereby all historical pulp samples grading >2.0 g/t 2PGE+Au will be analyzed for Rh content.

Rhodium is the rarest of the platinum group elements, only occurring up to one part per 200 million in the Earth"s crust. The main use for rhodium is in catalytic converters designed to clean vehicle emissions. Due to its brilliance and resistance to oxidation, it is also used as a finish for jewelry, LCD monitors, and mirrors. In the chemical industry it is used in the production of nitric acid, acetic acid and hydrogenation reactions. Rhodium is found in platinum and nickel ores together with the other PGEs. South Africa is the world’s