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Gold/Mining/Energy : Maxam Gold Corp. OBB:MXAM
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To: go4it who wrote (5112)7/31/1998 6:14:00 PM
From: Tim Hall  Read Replies (2) of 11603
 
Charles,

The BLM requires a plan of operation for all regular mining operations. They can also require one for 5 acre operations if they decide it is necessary. Basically they want to know how much reserves you have, how you are goinging to mine them, how you are going to process them, what are you going to do with the tailings and how will you reclaim the property when you are done. They also will probably require that a bond be posted to cover reclamation costs in case of bankruptcy or similar situation.

I don't know for sure, but I suspect they have guidlines for reserve calculations. Depending on the mineral involved they want to see so many holes per acre and assays for those holes. I don't think that they would even have to be COC. They will regard the reserve info as confidential if requested by the operator. The rest of the application would be open to public inspection and comment.

Tim
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