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Gold/Mining/Energy : Maxam Gold Corp. OBB:MXAM -- Ignore unavailable to you. Want to Upgrade?

To: Alan Vennix who wrote (8675)	6/23/1999 7:20:00 PM
From: Richard Mazzarella	Read Replies (1) \| Respond to of 11603

Alan, Maxam already has a good number of drilled holes with assays, unfortunately none COC. After seeing a few of these desert dirts get screwed up with drilling procedures, I would like to just see some COC trenching on the paleo-channels. Since the mapping is currently limited to ~20ft, trenching makes a lot of sense for mapping corroborative testing. The company could remove tons of ore trenching the alluvial deposit. Plenty of ore then for recovery testing. Tim, any thoughts about COC trenching?

To: Alan Vennix who wrote (8675)	6/24/1999 7:03:00 AM
From: bconard	Read Replies (2) \| Respond to of 11603

Alan, I tend to agree with you on two points. I think that the 'air drilling' even with the addition of the water is a 'risky' plan and they may well wash away the desired results. If so, their credibility will be damaged very badly on another COC with low results. On another point, the following is the last paragraph of the 6/7/99 update. <<Prospective joint venture partners minimally require evidence of a Chain-of-Custody completed report and/or corroboration in their laboratories. In certain instances a complete Ore Reserve Audit, plus a Feasibility Study is required. The current Maxam Gold Corporation Chain-of-Custody analysis pursuit is being continued to provide the Company with these options.>> I've read and re-read this and still come away with the understanding that without a good COC, the 30MM funding might not be available. I know Richard said he talked to Dale about this point and was assured that it wasn't a problem, but... Also if the funding was a sure thing, why not go with the core drilling and avoid any possible chance of loosing the fines. It's more expensive and would probably take longer, but it would be the safest. Long Lurker Bob