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Gold/Mining/Energy : Naxos Resources (NAXOF)

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To: knight who wrote (7992)1/12/1998 9:38:00 PM
From: GlobalMarine  Read Replies (2) of 20681
 
Knight, Ya, it's rather confusing on first read. The Simple arithmatic average of 1.66, 2.56 and 0.954 is 1.72, so at least we know how they got 1.72. There is supposed to be plat inum in the processed ore, according to past press releases; does "not detected" mean the assay method can detect platinum if it's there but there wasn't any in the three portions, or does it mean the assay method cannot detect platinum even if it's in the ore because it's designed to detect gold only?

Portion #1 appears to mean that Dr. J has a fire assay method (not the Johnson recovery process, it seems) that can detect 1.66 oz/ton of virgin ore. This would be a new development indeed. Portion #2 appears to show fire assay (Dr. J's fire assay method or Ledoux's?) after stage 1 processing, and Portion #3 shows fire assay (again, Dr.J's or Ledoux's fure assay method) after stages #1 and #2. Shouldn't gold values increase after each stage of the Johnson process, instead of decreasing from 2.56 to 0.954 (this would explain why Portion #3 is to be repeated).

On a positive note, the results are certified, at close to 3 oz/ton on stage 2. Other comments welcome.

Rand
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