Maxam Gold Corp. OBB:MXAM Message Board

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Gold/Mining/Energy : Maxam Gold Corp. OBB:MXAM

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To: Ptaskmaster who wrote (6771)	12/3/1998 8:32:00 PM
From: Richard Mazzarella	Read Replies (2) of 11603

Ptask, <<mapping technology>> Maxam is exploring new methods to map their precious metal deposits. Just a few years ago many followers of the desert dirts believed that the precious metals were homogeneously deposited in the desert. Just go out and drill a pattern of holes and then calculate a reserve. Seems simple enough, but dead wrong. That simple minded conventional thinking may even be one of the reasons why IPM failed IMO. Maxam is discovering that the metals in the desert dirt are distributed in ancient channels which they call paleo-channels. The deposits are complex alluvial minerals that may have been formed by ancient water flows. These paleo-channels are equivalent to veins in hard rock mining. The mapping techniques consist of both magnetic where an airplane flies over the ground in a grid pattern measuring the strength of the magnetic field and mobile ion mapping where the conductivity of the ground is measured. Each of these methods has an advantage, the magnetic is very low cost and fast to complete, but has the disadvantage of being limited in depth. The mobile ion mapping has value to determine metals deeper than the magnetic method. Combining both these methods against a limited assayed drill program "calibrates" the mapping. Maxam has already conducted an internal mapping calibration and is now doing a chain of custody (COC) mapping test. What are the benefits? First, if successful, Maxam will have a very low cost method to determine their reserves to 20ft on all their properties. It's much much lower cost than drilling. They can also determine the high grade ore regions to be mined first. Let's assume that it's a fixed costs to process a ton of ore. If head ore that is processed has 10-20 times the normal background value OPT (0.05 OPT) can be processed, the profit leverage is enormous. That's very important to hedge the start-up of the operation and make significant profit early. There is even the possibility that the BLM will eventually accept paleo-channel mapping as a proxy for drilling the alluvial desert dirts as more mapping data comes in. A new chapter in precious metal mining may occur. What does a paleo-channel map look like? This link show the current COC map area (thanks to Chuca): homepages.infoseek.com an enlargement of the COC area: homepages.infoseek.com . Do you see the large central hole labeled A1? That's a conventional drill hole that measured 1.2 OPT head ore! Do you now understand our comments about loving the blue areas of the map? I must also mention that there is good OPT in the yellow. Well, that's my simple minded explanation of the paleo-channel mapping. Hope it helps.

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