To: HungryLion who wrote (6065 ) 12/2/1997 12:43:00 AM From: Lalit Jain Read Replies (1) | Respond to of 20681
Short HungryLion, From the July 23 release: (BD's role - FYI) Franklin Lake Property, Inyo County, California The 2,800 acre Franklin Lake Playa is a dry lakebed under which lies an estimated one billion tons of material to a depth of 250'. In addition to this lowest section of the Death Valley Junction basin, there is approximately an additional 24,000 acres adjoining this playa, which is owned or under lease by Naxos. The five hole drill program on the Franklin Lake Playa under the supervision of Behre Dolbear has been completed. From July 10 to 15, 1997, a total of five holes were drilled using reverse circulation (RC) with the following approximate depths and locations (relative to the previous SRK drill hole, supervised by AMCL): RC #1 260' approx. 1980' north of SRK hole RC #2 200' approx. 2640' west of SRK hole RC #3 300' within 50' of the SRK hole RC #4 310' approx. 3960' north of SRK hole RC #5 360' approx. 1730' south of SRK hole (inside the Tight Grid within 50' of the previous 510' deep hole) This constitutes a coverage of approximately 5690' in the north-south direction and 2640' in the east-west direction. All material has been retained under positive chain-of-custody by Behre Dolbear. All material was collected, pailed and sealed without any possibility of contamination. Paul Blumberg, Technical Director of Ledoux & Company, was present at the property. Although he did not participate in the actual drill program, he did provide Behre Dolbear his recommendations with regard to proper and complete collection of material. Undisputed line of custody has been established on this drill program material. The material has been transported to Denver, Colorado, where it is presently being prepared under the supervision of Behre Dolbear for testing to commence at Ledoux & Company the week of July 28, 1997. Results will be certified by Ledoux & Company and verified by Behre Dolbear. It is the intention of Naxos to demonstrate not only a reliable and consistent assay methodology for gold, platinum and palladium, but also an economic and environmentally friendly recovery process for same.