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Gold/Mining/Energy : Naxos Resources (NAXOF)
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To: Max Haber who wrote (8403)1/22/1998 9:23:00 AM
From: Henry Volquardsen  Read Replies (2) of 20681
 
Max,

I was thinking the same things.

If the most recent results were done on a sand and gravel segment then it was definitionally not refactory ore but most likley alluvial. If this is the case, conventional wisdom would suggest that platinum and gold would not be comingled as in a refactory clay. This could indeed explain why no platinum was detected as it would indicate a different type of ore.

This of course opens a lot of questions. As Kim indicated it could be possible this is an isolated hot spot. How extensive is this particular formation? If extensive a conventional mining approach would be very viable at that depth. However that is still a very big if. A lot of further drilling would need to be done. Also since there are alternating layers of clay and gravel what is the makeup of the other layers. Are all the clay layers refactory? Are any other gravel layers similar to this one? I suspect no one has the answer to that yet.

It appears that Franklin Lake is a very interesting geological formation and there remains much to be learned. Hopefully the company will be able to answer the questions this poses shortly. The addition of other labs and a well formulated drill program will answer these questions in time.

Henry
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