Assay

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Assay

Metal purity test to confirm that the metal meets the standards for trading on a commodities exchange (commodities exchange center).

Assay

To test precious metals for their purity. This is important to commodities and futures involving precious metals, in which the quality of the underlying metals must be specified in the contract.

assay

A test to determine the purity of gold, silver, or other precious metals. Metals used for delivery of futures contracts must be assayed to verify that they meet standards established by the exchange on which the contracts trade.
References in periodicals archive ?
The Company's channel sample of a 3-foot-wide quartz vein assayed 0.
Gold samples were fire assayed with a gravimetric finish.
The surface results for this section of the Crow Vein included a 10 meter length which assayed 11.
Drill cuttings were dried, crushed to -10 mesh, split to 1,000 grams, pulverized to -150 mesh, split to 250 - 300 gram pulps, fire assayed for gold and silver using one assay ton fire assay with gravimetric finish.
The report summarized below was commissioned in light of the recent experience of irregular sampling procedures by other companies and on account of significant results from drill hole PL-21 on the Island Gold Property in which one of the three zones encountered assayed 1.
The soil, rock chip and trench samples collected at the Miing prospect area were assayed at the Indonesian based PT Indoassay Laboratories ("Indoassay") for gold by 40 gram fire-assay/AAS finish, copper, lead, zinc, silver and molybdenum by Geochem Digest Atomic Absorption Spectrometry ("AAS") as well as arsenic, antimony and tellurium testing by Hydride Generation AAS.