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Gold/Mining/Energy : Naxos Resources (NAXOF)
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To: ShoppinTheNet who wrote (8548)1/25/1998 10:40:00 AM
From: Jerry in Omaha  Read Replies (2) of 20681
 
Mr. 2,

You make the same point I intended to make, "...I understand that we are
discussing two forms of gold deposits. My point is that they are both
alluvial as I understand the property and its deposits."

I usually think of Eagle Mountain as forming the back edge of a mountain
valley sized, huge gold miner's pan blocking an entire river valley and
collecting millions of years of volcanic origin sediment; which is the very
meaning of alluvial; deposited by flowing water. Eagle Mountain created
a huge sedimentary deposit and stores it for us in its mountain valley-pan
which we intend to sift very well. Maybe even every last ton in the pan.

In that deposit one would expect to find every thing every gold prospector
has ever found in his own human-sized gold pan. Knowlelgeable people I speak
with who have experience panning for gold are eager to drill down to bedrock,
fully expecting to see a lot of "color" at the bottom of Eagle Mountain's pan.

If the Company's hypothesis that Mr. Christopher brought to our attention again
recently in: exchange2000.com is
correct, Franklin Lake is more than just a passive collection pan like the
Hoover dam, or something. It has been an active precious metal sponge for
millions of years. The drying clays of Franklin Lake sucked up precious
metals the way a mud-mask works to enhance the beauty of a woman's skin.
It has a huge capacity to adsorb and absorb, a process Mr. Christopher
calls "chemosorbtion." This has been a fundamental premise of Naxos for quite
some time. And the assay and extraction difficulties testify to the tenacity
of clay.

As in any archeological or paleontological "dig" the story of initial depostion
is told by the strata encountered as you go into the earth and backward in time.
Somewhere within the strata of layer after layer of deposition we will find
gold nuggets from big to small and micro-fine gold as well. Eventually the
drilling program, provided enough of the right data is captured, will be able
to discover and map the "alluvial" gold bearing strata. A diamond tipped core
drilling rig would give us the highest quality data. It also would be the most
expensive.

Discussions and pay-out calculations dealing with estimates of total reserves
may have to be category based. An interesting topic will be the proportion of
so called "alluvial" gold to the so called "chemosorbed" gold.

Jerard P
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