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

To: Kim W. Brasington who wrote (11557)	4/7/1998 3:35:00 PM
From: Tom Frederick	Read Replies (1) \| Respond to of 20681

Kim, thanks for your clarification of the issue. One question I have regarding the extended drilling about to begin, how much of a reserve in tons, will the 28 plus 40 holes represent? In other words, within the drill area, down to 300 feet, how much tonnage will that drilling outline and begin to draw a picture of? As I understand from others who have been to the property, the area for which Naxos has the rights for exploration is very very large. The tight grid area which is the focus for now is quite large by itself. So when Naxos refers to tonnage between 1 and 3 billion tons, how much land area does that represent? Is that in the tight grid, or all the area that Naxos has rights to? And to what depth? Thanks in advance. Regards, Tom F.

To: Kim W. Brasington who wrote (11557)	4/7/1998 3:46:00 PM
From: Tom Frederick	Read Replies (4) \| Respond to of 20681

Kim, a second question on your last post, if I may. Since most drill programs are intended to prove out a vein type deposit and to outline where the vein(s) start and end, at what point in time, or how much drilling to you believe it will take for the industry to accept that a sedimentary deposit of precious metals is indeed possible and in fact IS what FL represents? Have there been sedimentary style PM deposits that have been mined before? In an operation where a company is trying to find veins of PM's, you might have a great hole on one spot and 100 feet N,S,E or W would come up with nothing. However, this is a sedimentary deposit with very similar results in HORIZONTAL slices, not vertical. It would seem that if similar results start to come out from drill holes a mile apart, and then a half mile apart, a quarter, 200 yards, 100 yards, etc. and similar results come from similar depths, then the more aggressive investors will start to "see" the picture come into focus that indeed this is exactly what Naxos said it was making it much easier to take less dense drilling as an indication of reserves between drill holes. What are your thoughts? Regards, Tom F. Tom F.