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 ?
Two independent companies performed the fire assays: 1) Assayers Canada, and 2) International Plasma Labs Ltd.
The Wednesday conference call between the Qualified Party, Richard Daniele, and the three independent assayers was productive.
Richard Daniele, Metallurgical Engineer, the Qualified Person, (QP) who coordinates the assayers under the direction of Dr.
Drill core samples were submitted to Alex Stewart Assayers, Argentina, S.
Part of the extra time needed is due to the time required for the assayers to come to agreement on the exact version of the assay procedure to be used and to acquire the proper equipment and chemicals for the assayers' research labs.
s diamond drilling crews, AMTRAC's underground mining crews, ANALAB's independent assayers and various subcontractors.
Section I is composed by assayers of FPDisplay Industry research center, under the abidance, and it will be published officially by 20, July, 2005, after a period of two months' deep investigation and analysis.