Friday, April 3, 2009

UC HUB's ASSAYS -- TO LURE MORE INVESTORS!

FRAUD and UC HUB’s GOLD CLAIM

The debate about the quantity of gold at the Wickenburg property has gone on for a while.

Here’s the problem. Wilcox & his friend/associates went to the Wickenburg mine and collected large quantities of RAW EARTH (i.e. dirt & rocks).

They processed and refined the Raw Earth until they had a few pounds of refined material that contained most of the gold from all the tones of Raw Earth.

This refined material is called gold concentrate (or just concentrate).

Wilcox sent this gold concentrate to selected labs (assay labs) to determine how much gold was present in the gold concentrate. The assay labs prepared reports (assays) that detailed the quantity of gold they found in the gold concentrate.

The quantity of gold reported in the assays means NOTHING unless you can relate it back to HOW MUCH GOLD IS THERE PER TON OF RAW EARTH.

(Note: The assay labs cannot verify how much raw earth it took to create the concentrated gold samples – because they were not there during the collection process. They cannot just take someone’s word for it – The assay labs would lose their accreditation/licensing.)

For example – If it takes 10,000 tons raw earth to produce 1 ounce of Gold – Well that’s great – but it may cost you $20,000 to extract that 1 oz of Gold.

The price of gold is around $1,000/oz – so you would lose $19,000 for every ounce of gold you extracted.

This is why it is so critical to find out how much gold can be extracted per ton of Raw Earth.

(Note: Everyone knows there is gold in the Wickenburg area – Gold was discovered in the 1800’s. So saying there is gold at the Wickenburg mine really means NOTHING – Everyone already knew this – It’s like saying there’s salt in the ocean…so?

Amateur gold miners (hobbyists) are at Wickenburg every day.- The assays are a waste of time unless they can tell us: how much gold can be extracted per ton of Raw Earth. )


So – In order to determine the amount of Gold per ton of Raw Earth – We need 3 things:

1. The amount of Raw Earth it took to make the gold concentrate (i.e. tons).

2. The weight of the gold concentrate produced from the Raw Earth (i.e. pounds).

3. The amount of gold found in the gold concentrate (i.e. ounces of gold per ton of gold concentrate- commonly written as: oz/st). (note: st means “short ton” or 2,000 pounds)


We have #1 - Tons of Raw Earth:
Wilcox & his associates said that they collected 3 tons of Raw Earth at Wickenburg.
See
: http://www.uchub.net/Green%20Mill%20Mining%20Overview.pdf

We have #3 - Ounces of Gold per Ton of Gold Concentrate
The high gold result was 7.06 oz of gold per ton of gold concentrate - as stated in the second assay report.
( http://www.marketwire.com/press-release/Uc-Hub-Inc-947925.html))

We do NOT have #2 - The weight of the gold concentrate produced from the Raw Earth (i.e. pounds).

Wilcox nor the assay reports detail the weight of the gold concentrate.

THIS IS THE MISSING LINK – and here’s why.

Suppose they did a terrible job in refining the gold concentrate and in actuality- so poor that it was not refined at all. That is – 3 tons of gold concentrate were made from 3 tons of raw earth. (It was not refined at all.)

That means – When the assay says 7.06 oz of gold per ton of gold concentrate – We have 7.06 oz of gold per ton of Raw Earth - We would be rich – if this were true.



Suppose they created 2 pounds of gold concentrate from the 3 tons of Raw Earth.

That means – When the assay says 7.06 oz of gold per ton of gold concentrate –
It took 3 tons (6,000 lbs) of Raw Earth to make 2 pounds of gold concentrate. – The Ratio is 6000:2 or 3000:1.

So….It would take 3,000 TONS of Raw Earth to make 1 ton of gold concentrate – This would produce 7.06 oz of Gold.

3,000 Tons of Raw Earth for 7.06 oz of gold – It would cost more to produce the gold than the gold is worth - We would lose money on every ounce of gold produced.


(If anyone can provide a statement from Wilcox or the Labs as to the weight of the concentrate – please do – otherwise don’t waste your/our time.)



Some people are saying “The company pr'ed the assay results and then never commented on them. They never hyped the results at all…”

See http://investorshub.advfn.com/boards/read_msg.aspx?message_id=36772967

They are wrong.

This is what Wilcox put out in his press release:

“Two separate chemists and labs have now confirmed that gold exists on the Wickenburg Property and the range of gold in a particular zone is from 2.06 oz/ton to 7.06 oz/ton.”
Source
: http://www.marketwire.com/press-release/Uc-Hub-Inc-947925.html

Wilcox HAS commented on the assay results!
Wilcox HAS hyped the results!

Wilcox’s statement is meant to be misleading and make reader’s believe it is 7.06 oz of gold per ton of Raw Earth. (We would be rich if that were true – but it’s not true.)


Below is a thorough calculation on the amount of gold present at UCHB’s Wickenburg mine – (Based on available information.



This is FRAUD!

The following statement is a COMPLETE LIE and clearly meant to lure investors.
“gold exists on the Wickenburg Property and the range of gold in a particular zone is from 2.06 oz/ton to 7.06 oz/ton.”

NUMBER ONE
The analysis was done on “concentrate material” NOT raw earth.

Look at Wilox’s own report that describes how they “concentrated the samples.

See:
http://www.uchub.net/Green%20Mill%20Mining%20Overview.pdf

Wilsox collected “approximately” 3 tons of raw earth from two selected sights.

This raw earth was processed, concentrated and refined between 9 and 12 times to produce a concentrated sample for each site.

The two concentrates were dried and sent to the assay.

By looking at the pictures in
http://www.uchub.net/Green%20Mill%20Mining%20Overview.pdf (3rd & 4th from the bottom)

- a reasonable guess would be that it weighed in at about 2 pounds per sample. (Making this value greater really makes no difference in my final conclusion.)

Here are pictures of the samples:





Here are quotes from Wilcox’s own report that describes how they “concentrated” the samples.
See:

http://www.uchub.net/Green%20Mill%20Mining%20Overview.pdf

“take 3 tons of raw materials (1 yd bucket three times) from two distinct locations and reduce it to very detailed concentrates“

"process the three original tons of raw dirt through the high banker and the high pressure water system”

“It took us at least one full day to process 3 tons”

“Once we had acquired the first phase of a concentrate we would further break it down with more exact processing to a more concentrated sample.”

“in the end we had completed no less than 9-12 processes to get a sample concentrate.”

“We then reviewed some of the placer gold we found in the concentrates and black sands with a microscope and dried the samples for delivery to a combination of different and unique assay facilities.”

“On January 18, 2009 around noon we had collected very concentrated samples from GPS area #1 and GPS area #2.”


NUMBER TWO
The gold results of 7.06 oz/ton and 1.156 oz/ton are JUST A PLAIN LIE.

The high gold result was 7.06 oz/ton and the low was 1.156 oz/ton - as stated in the second assay report. ( http://www.marketwire.com/press-release/Uc-Hub-Inc-947925.html

7.06 oz/ton is FALSE
1.156 is FALSE

When results are given in “oz/ton” the reference “ton” SHOULD refer to the raw earth. (But it doesn't!)

Here they are referring to the 2 pounds of a concentrated sample.

This concentrated gold sample should be Raw Earth – The material the bulldozer picks up – Not this overly processed/refined material.

(Note: The assay labs cannot verify how much raw earth it took to create the concentrated gold samples – because they were not there during the collection process. They cannot just take someone’s word for it – The assay labs would lose their accreditation/licensing.)


Let’s look at the highest value – 7.06 oz/ton.

2 lbs of CONCENTRATE with 7.06 ounces per ton.

That means each ton of CONCENTRATE contains 7.06 ounces of gold.


2 pounds is 1/1000 of a ton (ton=2,000 pounds) or 0.001 of a ton.

7.06 * 0.001 = 0.00706 oz/ton

But remember it took them 3 ton to get this concentrated sample. So we must divide by 3.

0.00706/3 = 0.00235 oz/ton

TRUTH -

Highest Gold Content at the Wickenburg Mine : 0.00235 oz/ton

At $1,000 oz for gold.

That’s $2.35 of gold per a ton of raw earth.

They did 3 tons that day – So 3 x $2.35 = $7.05 for a day of hard labor for 6 people! (
$1.18/each)

If they go into full production at 200 tons/day – that’s a whopping $470/day!

There is gold all over the Wickenburg area - But not in any significant concentrations to make it profitable.

CONCLUSION:

WICKENBURG IS NOT A PROFITABLE MINE!

The assays were done to LURE MORE INVESTORS!


(Credit for this analysys: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=35666624

Credit for this post goes to Jennifer Tritt who posted it on ihub (and it got deleted).

Don’t be another SUCKER!

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