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Gold/Mining/Energy : Naxos Resources (NAXOF) -- Ignore unavailable to you. Want to Upgrade?

To: mark silvers who wrote (10260)	3/16/1998 11:04:00 AM
From: Larry Brubaker	Read Replies (2) \| Respond to of 20681

Mark: As I said a few months back about extrapolating results from 1 hole, the same applies now with two holes, but even more so. You have extreme variations within the same hole by the same lab, variations between the two labs, and variations in results within the same lab but with different tests. Mr. Brasington tried to explain the variations from one test to the next as due to "hot spots." Would it not be possible that Naxos drilled known hot spots for these tests? We see results from these holes as low as .02 opt. It could be that the precious metals content of Franklin Lake is similar to Maxam's property. Maxam talks about an average of .05 opt, but also reports hot spots as high as multiple ounces per ton. Maxam also reports free placer gold in its ore. Given the variability of results, and the paucity of drilling results, it seems quite premature to attempt to extrapolate the results from these holes to the entire property.