SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Gold/Mining/Energy : Naxos Resources (NAXOF)
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Henry Volquardsen who wrote (12873)5/15/1998 1:04:00 PM
From: Kim W. Brasington  Read Replies (3) of 20681
 
To All:

Every 3-6 years a new deposit in excess of 5 million ounces of gold is discovered somewhere in the world. The last one of that size was the Pierina deposit in Peru with in excess of 6.5 million ounces. There are a few others that majors have known about but are in the process of expansion. Much interest is generated when there is a large surge of discovery instead of a slow incremental buildup.

Figuring grade of ore for North America can be done two ways: 1)taking all mines, looking at their average grade and then averaging it out irrespective of tonnage. One small mine will have just as much weight as a large mine in this way of averaging. Using this methodology gives a somewhat unrealistic result. 2) Take all of the tonnage and add all the tonnage of all mines then divide by the number of contained ounces and you have a weighted average that is much lower than #1. The approximate grade for North America is 0.04 ounces of gold per ton.

In the present drill program, Naxos will be seeking to establish a resource (either inferred or indicated). The forty infill holes are presently structured to potentially show 38 million tons of material down to 100 feet, and if drilling will go to 150 feet, then calculated tonnage of material will go up to approximately 57 million tons of material.

Regards,

Kim W.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News