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Gold/Mining/Energy : Naxos Resources (NAXOF)
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To: Tim Hall who wrote (17600)1/27/1999 1:47:00 PM
From: Tom Frederick  Read Replies (3) of 20681
 
Mr. Hall, what I believe was done was a Standard Fire Assay, with the only unique element being the pretreatment. So the assay was indeed standard. The "certification" is a fairly strict and precise term. It depends on who is at the facility, watching the test, handling material, etc. to actually qualify as "certified". Unbiased verification of a process is the goal.

In this case, we know it was COC material, so the material was not an issue. Naxos clearly presented this as an "unproven" process which needs more work. What I seriously doubt is that NWA would have allowed publication of the results if there was any doubt as to the content of Gold knowing that these tests basically match up with the 25lb recovery test. It is a clear indication that the bromide pretreatment just MAY be the key for consistant results.

For the test to be released without certification is not the best, and I suggest you call IR to ask why. I'm sure they will be glad to answer the question.

For now, I am anxious to hear about "next steps" at the demo plant. It would also be logical, if NWA can repeat those results on the SFA tests, to go to a third party for verification WITH certification. That will clearly represent a major breakthrough on SFA.

Tom F.
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