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Elray Resources, Inc. (ELRA) Moves Zircon Sand into Gold and Precious Metal Portfolio
10/16/08
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Zircon sand is used in a wide variety of industrial processes, although you may not be familiar with the substance. Major uses of Zircon include the glass substrates of liquid crystal displays (LCDs) and plasma display panels (PDPs). In the ceramic industry, zircon sand is used as an additive to glazes on tiles. It is also used in abrasives, electronics, oxygen sensors, ceramic pigments, paints, catalysts, and fuel cells. In addition, it is used as a neutron absorber in nuclear reactor control rods.
Demand for Zircon sand is set for ongoing continuing growth as world consumption increases. Roskill Information Services state that world consumption of zircon was about 1.25Mt in 2006. Overall growth in demand is likely to continue at around 3.8%py to reach just over 1.5Mt by 2011. With a significant share of 47%, Asia (including China and Japan) now account for just under half of total consumption.
Elray Resources has successfully accumulated a portfolio of highly prospective, heavily mineralized mining tenements in South East Asia and North America. Elray Resources, Inc.’s, primary objective is to source projects, conduct geological assessments and seek Joint Venture partners to develop the properties.
Commenting on the addition of Zircon sand to the company’s focus, Mr. Barry Lucas, Executive Chairman of Elray Resources stated, “Zircon’s properties continue to make it a valuable commodity for which demand is increasing. With this project we expect to meet some of that demand and create significant value for our shareholders.”
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