AFGHANISTAN · LEAD-BEARING ORE

Afghan Lead Ore

High-grade lead-bearing material represented by four laboratory reports, including elemental lead results up to 84.55% Pb and a separate oxide-basis result of 69.70% PbO. The documented samples show distinct lead-rich profiles with associated sulphur, silver, antimony and other minor elements for buyer-led mineralogical review, representative sampling and commercial lot qualification.

The published results are sample-specific. They demonstrate the chemistry reported for the submitted specimens, but do not by themselves establish the average grade, mineralogy or performance of a future production lot.

Lead-01

Selected Sample

%

Pb

20 Sep 2021

Lead-02

Selected Sample

%

Pb

02 Mar 2025

Lead-03

Selected Sample

%

Pb

11 Nov 2025

Lead-04

Selected Sample

%

Pb

01 Jun 2023

One Value Metal

Multiple Ore Profiles

Lead may occur in sulphide minerals such as galena, in oxidised lead phases, or in mixed mineral assemblages. The appropriate beneficiation or smelting route therefore depends on mineralogy, liberation and process response—not on the headline lead grade alone.

The published certificates also use two different reporting bases: elemental lead (Pb) and lead oxide (PbO). These values are not directly interchangeable. For commercial comparison, every offer and contract should state the reporting basis clearly and define the agreed sampling and analytical method.

01

High contained-lead potential in the tested specimens.

02

Elemental Pb results spanning 64.750% to 84.55% across the supplied certificates.

03

Associated silver and antimony create sample-specific by-product interest.

04

Mineralogy, penalty elements and lot representativeness remain central to buyer qualification.

01

LABORATORY ANALYSIS 01 · SGS PAKISTAN

Date: 20 September 2021

Report: 0000017270

Sample: PKS2112953.001

Source Document

Extracted Result

Key Characteristics

Chemical composition
84.55% Pb
980ppm Ag
Element Symbol Unit Reported value
Lead Pb % 84.55%
Zinc Zn % 0.02%
Sulphur S % 11.53%
Silver Ag ppm 980.00
Antimony Sb ppm 803.50
Arsenic As ppm 30.00

Key Characteristics

  • Approximately 845.5 kg of contained Pb per metric tonne at the reported sample grade.

  • Silver at 980 ppm is equivalent to 980 g/t and may provide meaningful by-product interest, subject to confirmatory testing and the buyer’s payable schedule.

  • Sulphur at 11.53% indicates a substantial sulphide component, although the mineral phases cannot be confirmed from the chemical assay alone.

  • Zinc is very low at 0.02%; antimony and arsenic are present at 803.50 ppm and 30 ppm respectively.

Potential Technical Review

  • Determine the lead-bearing mineral phases and quantify sulphide, oxide and mixed lead minerals.

  • Confirm Pb, Ag, Sb and As through buyer-approved analysis of a representative composite sample.

  • Add moisture, particle-size distribution and a complete penalty-element suite, including Hg, Cd and Bi.

  • Evaluate liberation, recovery, concentrate quality and silver deportment through appropriate metallurgical testwork.

02

LABORATORY ANALYSIS 02 · HARIWA AYUBI MINES

Date: 02 March 2025

Weight: 1,170 g

Sample: HA-Lab-No-15

Source Document

Extracted Result

Key Characteristics

Chemical composition
76.545% Pb
0.034% Ag
Element Symbol Unit Reported value
Aluminium Al % 0.1678%
Silicon Si % 0.6671%
Sulphur S % 7.708%
Potassium K % 0.3947%
Calcium Ca % 2.6655%
Titanium Ti % 0.0528%
Vanadium V % 0.2889%
Chromium Cr % 0.0378%
Manganese Mn % 0.0235%
Iron Fe % 1.1575%
Copper Cu % 0.0067%
Zinc Zn % 0.0384%
Selenium Se % 0.0289%
Rubidium Rb % 0.1252%
Strontium Sr % 0.0230%
Zirconium Zr % 0.0954%
Silver Ag % 0.0340%
Tin Sn % 0.0690%
Antimony Sb % 0.0266%
Barium Ba % 0.0414%
Mercury Hg % 0.0781%
Thallium Tl % 0.1434%
Lead Pb % 76.545%
Bismuth Bi % 0.0397%

Key Characteristics

  • Approximately 765.45 kg of contained Pb per metric tonne at the reported sample grade.

  • Silver at 0.034% is equivalent to approximately 340 g/t and may offer by-product interest if confirmed by a suitable independent method.

  • The reported Hg value of 0.0781% and Tl value of 0.1434% equal approximately 781 ppm and 1,434 ppm respectively. These are commercially sensitive results that require urgent confirmation before the material is priced or offered to a smelter.

  • The report describes a single submitted rock specimen; it does not demonstrate the average grade or impurity profile of a production lot.

Potential Technical Review

  • Confirm Pb, Ag, Hg, Tl, Sb and Bi at an accredited laboratory using a representative composite and duplicate samples.

  • Complete XRD or automated mineralogy to determine lead phases, gangue minerals and the degree of oxidation.

  • Evaluate whether Hg and Tl are genuine mineralogical features, localised inclusions or handheld-XRF artefacts.

  • Model recovery, concentrate quality, penalty exposure and suitable buyer routes only after confirmatory work is complete.

03

LABORATORY ANALYSIS 03 · SGS Pakistan

Date: 11 November 2025

Report: 0000026610

Sample: PKS2220050.001

Source Document

Extracted Result

Key Characteristics

Chemical composition
64.750% Pb
2,392ppm Sb
Element Symbol Unit Reported value
Lead Pb % 64.750%
Antimony Sb ppm 2,392.00
Arsenic As ppm <5.00

Key Characteristics

  • Approximately 647.5 kg of contained Pb per metric tonne at the reported sample grade.

  • Antimony at 2,392 ppm is equivalent to 0.2392% and represents a measurable associated element, although it is not the primary value driver in this result.

  • Arsenic is reported below the 5 ppm detection threshold for this analysis.

  • Only the results page has been supplied; sampling, date and representativeness details cannot yet be confirmed.

Potential Technical Review

  • Obtain and publish the SGS cover page so the date, sampling status and complete document context are available.

  • Clarify the material classification and determine whether lead and antimony occur in separate or intergrown mineral phases.

  • Run representative multi-element analysis, mineralogy and beneficiation tests before defining a commercial specification.

  • If this sample is connected to the NMI Pakistan sample in Analysis 04, document the chain of custody before presenting the two reports as cross-laboratory evidence.

04

LABORATORY ANALYSIS 03 · NATIONAL METROLOGY INSTITUTE OF PAKISTAN

Date: 01 June 2023

Report: SAY-FO-TE-22

Sample: TR-15846

Source Document

Extracted Result

Key Characteristics

Chemical composition
69.70% PbO
8.93% Fe₂O₃
Element Symbol Unit Reported value
Lead oxide PbO % 69.70%
Iron(III) oxide Fe₂O₃ % 8.93%
Sulphur trioxide SO₃ % 8.21%
Silicon dioxide SiO₂ % 4.05%
Zinc oxide ZnO % 0.50%
Manganese oxide MnO % 0.40%
Aluminium oxide Al₂O₃ % 0.33%
Calcium oxide CaO % 0.11%
Sodium oxide Na₂O % 0.11%
Chlorine Cl % 0.10%
Antimony(III) oxide Sb₂O₃ % 0.06%
Potassium oxide K₂O % 0.04%
Copper oxide CuO % 0.03%
Molybdenum trioxide MoO₃ % 0.02%

Key Characteristics

  • The headline result is 69.70% PbO, equivalent to approximately 64.70% theoretical elemental Pb—not 69.70% Pb.

  • Iron and sulphur are reported in oxide format at 8.93% Fe₂O₃ and 8.21% SO₃ respectively.

  • The listed analytes total approximately 92.60%, so the table should be treated as the reported analytical panel rather than a complete 100% mass balance.

  • The theoretical Pb equivalent is very close to the separate SGS result of 64.750% Pb in Analysis 03; however, this similarity is not proof that the certificates concern the same sample or lot.

Potential Technical Review

  • Confirm elemental Pb directly and identify the actual lead-bearing mineral phases.

  • Complete a full elemental assay covering sulphur, silver, arsenic, antimony, mercury, cadmium, bismuth and other buyer-specified elements.

  • Establish moisture, particle-size distribution, mineral liberation and beneficiation response on a representative composite.

  • If Analysis 03 and Analysis 04 relate to the same material, assemble documentary chain-of-custody evidence before describing the results as cross-laboratory verification.

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