Assay value

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  1. The quantity of an ore's valuable constituents, determined by multiplying its assay grade or percentage of valuable constituents by its dimensions. CF: assay inch; assay foot. The figure for precious metals is generally given in troy ounces per ton of ore, or per assay ton. See also: assay grade; value. AGI
  2. The monetary value of an orebody, calculated by multiplying the quantity of its valuable constituents by the market price. Syn: average assay value
    Source: Dictionary of Mining, Mineral, and Related Terms


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