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Gold/Mining/Energy : Naxos Resources (NAXOF)
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To: Tim Hall who wrote (12967)5/17/1998 11:41:00 PM
From: Henry Volquardsen  Read Replies (4) of 20681
 
Tim,

I agree that it is unlikely that the material is heap leachable due to the presence of clay. Although it is worth noting that the playa is made up of layers of clay interspersed with layers of sand and gravel. The non-clay layers may respond to heap leaching.

With all due respect to your professional standing I disagree. Larry's question was whether we should make the recovery process a priority before we finish the 68 holes. The recovering process is nothing more than a mine feasibility question. NO mine does a mine feasibility study before it has done even preliminary drilling. Talk about putting the cart before the horse. It would be like designing a factory before you decide whether you want to build cars or semiconductors. There is absolutely no question that the drill program comes first.

Also I did not say fire assay was identical to extraction, I said it was similar. In this I meant that it provided a good indicator of what is recoverable. If not a standard fire assay would have little validity in proving reserves for any mine not just Franklin Lake. All the standard fire assay does is show that there is gold in Franklin Lake and it is accessible via conventional methods. The next step after that will be to do the mine feasibility study. That is how conventional mines are developed. The mining community and the Wall Street analysts that follow this sector will recognize what this means and the market capitalization will reflect that as each step develops and that is what the shareholders of this coming are interested in.

The only reason there is so much focus on recovery process at this early stage is because people on this thread are still focused on this yet to be proven microfine theory.

Henry
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