Terry were you in the back row? ha...either way...best to you. Here is a Handout Picture from the AGM Booklet. And Scans.
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members.tripod.com
Flow Chart above.
Notive the last paragraph about the Paleo Channel Mapping and the next page is a great Bondar-Clegg " Analytical Flow - Chart
Chucaupd2(a typo)
P.S.- From the scan of the Textbridge:
THE PEORIA 7 PROPERTY
Maxam Gold's core asset is a 640-acre desert elluvial gold property located south of Gila Bend, Arizona. Prior exploration has defined a gold and silver anomaly 1,000 feet wide and 12,000 feet long. Sufficient drilling, sampling and assay work has been completed to delineate a trial open pit ore reserve of 55,827,206 ST grading 0.102 oz Au/ST containing 5,694,377 ounces of gold equivalent. Peoria 7 is potentially one of the largest undeveloped gold deposits in North America!
Maxam Gold has sufficient mining and processing equipment on-site (earthmoving machinery, milling equipment, assay lab, etc.) to operate Peoria 7 at the rate of 1,000 ST/day. The company plans to begin production at a modest rate of 1,000 ST/day, scaling up to 2,500 ST/day during the first year of operations, and expanding to 10,000 ST/day within two years.
Maxam Gold's consultants, Hewlett Mineral Management, has stated that with Maxam's recently-developed geophysical techniques of evaluating ancient paleo-channels by using magnentic and electromagnetic surveys, coupled with geo-chemical analysis of the mobile metal ions, followed up by Becker drill sampling, Maxam could at least double its gold-equivalent resource.
Support for this estimate comes from the fact that the property has not been fully-explored, drilling to date has not gone below the 100 foot level, the deposit dips to the west and grades are increasing with depth, and that there are significant, high-grade paleo-erosion channels which have not been fully~xplored (one drill hole averaged 0.70 oz Au/ST in the top 20 feet).
PEORIA SOUTH
This 640 acre property is located directly south and southeast of Peoria 7, has similar geology, but higher gold grades. To date, only 100 acres have been explored, and the bulk of the drilling has not gone below the 30-foot level. Discovery of the deposit was made through an auger drilling program, with bulk samples taken on 10-foot vertical intervals, and fire assays run by Skyline Labs (Tucson); Jacobs Assays (Tucson) & XRAL Labs (Toronto).
Based on drilling and assaying results, in December 1996 Hewlett Mineral Management reported an ore resource of 6,666,666 ST grading 0.053 oz Au/ST and containing 353,333 ounces of gold. These reserves were based on a gold price of US$375/oz; cash operating costs were estimated at approximately US$142/oz. Subsequent reverse circulation drilling encountered higher grade gold intercepts: one hole intercepted 1.20 oz Au/ST from 0 to 20 feet and an average of 0.51 oz Au/ST between surface and 99 feet.
Maxam Gold has developed a proprietary, environmentally-safe, chlorine I bromine leach process to recover gold and silver from the Peoria 7 andPeoria South ores. In pilot-scale and bulk test, ores are ground in a two-stage process to 80% minus 150 mesh before entering a closed-loop, multi-stage leaching system. The pregnant solutions are then sent to an ion exchange circuit for metal recovery.
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The mill tailings are then washed I neutralized and then returned to the pit (the leach solution is filtered, reclaimed and recycled through the closed-loop process). The inert tailings will be used to back-fill the open PitS, allowing Maxam Gold to truly minimize the environmental impacts of its mining operations. The net result of the Maxam Recovery System is faster material handling, greater gold and silver recoveries, and a more environmentally-friendlyprocessing method than is the case with traditional cyanide or other extraction methods.
Investors should note that the leached tailings from the Maxam Recovery Process meet the minimum Arizona Department of Environmental Quality Water Standards. As such, Maxam's processing operations will not require a permit from the ADEQ to dispose of the leached tails. Hewlett Mineral Management has demonstrated the up-scaling feasibility of the processing technology on several types of ores. These accomplishments provide Maxam with a high confidence level, particularly in light of over 140 bench leach tests and small bulk tests preformed to date on the Peoria7 & Peoria South ore.
Maxam Gold has spent much of the past year on fin~tuning its processing technology. Recently, the company has found that significant increases in gold and silver recoveries can be achieved by increasing the grinding time to liberate the gold, which is extremely fine and is found in clumps I clusters within the host rock grains.
INDEPENDENT ORE RESERVE AUDIT (July 1998)
In July 1998, Maxam Gold announced that the Board of Directors had authorized budgeting funds for an independent Audit of the Peoria 7 & Peoria South ore reserves. An intemationally-recognized mining engineering consulting firm, with a particular expertise in world-class, multi-million ounce gold deposits, will conduct the mine reserve audit.
Although Maxam has previously published ore reserve determinations as conducted by Maxam~s consultant, Hewlett Mineral Management, this action was deemed a necessary step prior to contracting for the Bankable Feasibility Study. Both the reserve audit and feasibility study are required by the European merchant banks with whom discussions are in progress for financing development of the Peoria 7 project.
In preparation for the reserve audit, Maxam Gold recently commissioned additional geophysical surveys and drilling work. hydrOGEOPHYSICS (Tucson, AZ) will be conducting a chain-of-custody drilling program to obtain bulk samples for further assaying; upon completion of this work, the mine reserve audit company will begin their independent verification of the Peoria 7/ Peoria South ore reserves.
OPERATING & CAPITAL COSTS (Peoria 7 I Peoria South)
Both the Peoria 7 and Peoria South operations will be very low cost gold producers
Hewlett Mineral Management estimates that Maxam Gold can produce gold for US$123 per troy ounce (net of byproduct credits) at the Peoria 7 project. This figure includes all mining and processing charges for a 2,500 ST/day operation, and is based on operating costs at other, similar-sized placer mining operations...>>Pages #s 4 and 5 follow WITH SAFE HARBOR STATEMENTS at the end... |
