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Gold/Mining/Energy : Maxam Gold Corp. OBB:MXAM
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To: Larry Brubaker who wrote (5653)9/14/1998 11:03:00 PM
From: Richard Mazzarella  Read Replies (1) of 11603
 
Larry, Maxam has been looking for a high OPT area of their property where they can minimize the drilling required (cost) to prove a bankable audited resource for both the BLM and funding. The resource must show enough metals to provide a mining resource with a minimum lifetime of 9 years. The results reported by Maxam today had many objectives. The first and most important objective was to correlate the mobile ion and magnetic mapping of the paleo-channels to actual metal recovered (prove the mapping technology). That mapping technology will then be used to lay out the 10 hole drill program which will be COC. A secondary purpose of the leach tests was testing actual recovery of metals on both resin as a collector and carbon as a collector. Another objective was to determine the probable extraction costs. Notice that the cost was only determined for Au and Ag. Additional metals will be scrubbed from the pregnant leach in the actual system for little additional cost IMO. The 20lb limitation is because of lab experimental constraints. While I look forward to 500 and 2000lb test at some point, the 80 -100lb tests in 20lbs lumps is still much larger than the small samples reported before. That is helping my concerns about scalability.

<<where they stand concerning larger batch tests, what with their decision to not "allocate funds to upgrade the pilot plant>> That will take funding to complete those projects. Current work is to prove the resource for that funding.
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