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Gold/Mining/Energy : Micro-Fine Gold Plays - Franklin Lake, etc.
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To: C L who wrote (123)12/12/1996 12:01:00 AM
From: Alan Vennix   of 615
 
I called Maxam today and talked with Dale Runyun who is sending me add'l info on the property and processes they are testing for their Peoria properties. They have 104 claims in the area with 4 claims drilled to 50 ft which is the source of the recovery numbers included in their Dec 6 release. It wasn't clear to me how they calculated recovery, however. Dale said that they were working on the concentrators, but that their previous test wasn't all that successful, most likely because they were just grinding down to 1/8 inch which wasn't fine enough to allow recovery of the gold from the fine silicate structure. They have a new type concentrator ordered for January delivery and if it works they will order 2 more larger ones. If the concentrator doesn't work they have a leaching process using a mixed chlorine/bromine leachant that they would use off site.

He also mentioned their "relationship" with IPM through Pheonix and that they were in close contact with IPM concerning their testing and recovery process work.

I'm sure you will get much more info than this (and straighten out any misconceptions I might have from my brief conversation with Runyun.)

Look forward to your report when you return next week.

Al

P.S. I feel I ought to insert a row of ????????????????????? in order to be an acceptable contributer to this thread.
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