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Gold/Mining/Energy : Naxos Resources (NAXOF)
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To: Random Walk who wrote (12122)4/22/1998 9:21:00 AM
From: Kim W. Brasington   of 20681
 
Don:

Naxos will not be shipping any of the material since it is Chain of Custody. Shipping will be handled by the engineering firm. You may be unaware of the fact that there have been assays done on Franklin Lake in the past, but they lacked in consistency by and large with one exception. There can be many variations of flux, preparation, reducers, and collectors in a fire assay, which can consequently bring the possible number of variable combinations into the thousands, thus it was a matter of hitting on the right combination that would lead fire assay consistently.

Ledoux will be assaying along with several other labs, that John Norton has lined up. All of the chemicals will be coming from one lab and all labs will be using one protocol.

Insofar as a proprietary technology - as of several days ago, when I talked with Dr. Johnson, they were still working on Naxos material. While a proprietary technology may take more time for the marketplace to accept, a lead fire assay with chain of custody drilling and processing is understood by the marketplace. In reference to bringing the metals to market - Naxos believes that the Franklin Lake material can be processed using traditional methodology. There are many mines that do not use cyanide heap leaching that are very economical with grades less than what Naxos has shown to date. The economic recovery of Franklin Lake material could be materially enhanced by recovering other metals that could pay for the cost of the extraction of the precious metals.

Regards,

Kim W.
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