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Gold/Mining/Energy : Naxos Resources (NAXOF)

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To: Richard Mazzarella who wrote (12944)	5/17/1998 5:12:00 PM
From: knight	Read Replies (2) of 20681

Richard, good points, it's an interesting mineralization to be sure. Let's assume for arguments sake that the current assays are showing only the free gold and this free gold is extractable using heap-leach processes that are currently in use in the Nevada Carlin Trend; if the reserves are proven we could still make a mine out of FL. Newmont recovers 60% from .015 OPT from their Nevada operations as per "The Gold Book" by Pierre Lassonde. Leaching costs around US$6.00 per ton. The other major costs would be labour and ore-moving. PS: From the last release: >>>A total of 11 blank samples were submitted blindly to Ledoux & Company, which are randomly introduced throughout RC holes 1 through 5, averaging 0.008 oz/t.<<< Does this mean what I think it does? An average grade of the 5 holes?

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