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

To: Eric Tai who wrote (11561)	4/8/1998 9:27:00 AM
From: Tom Frederick	Respond to of 20681

Eric, I think I was not clear with how I positioned that comment. First, regarding your comments, you are correct in a very strict manner of speaking. However, the variety of results have come out of over 50 testing methods using poorly drilled material and now with 2 or 3 variations using correctly drilled material all resulting in a very broad range of OPT. What I am willing to bet is that when ONE method of drilling, (reverse air circulation) and ONE method of testing (SFA) is used, we will indeed see strata of the playa coming up with similar results. Since FL is clearly NOT a hard rock reserve, how would it be explained, from a geologic standpoint, how the PM's got there? In my post, I was projecting forward what I believe we will see, obviously not what has been found out so far. I am implying that when we see results using all BD material, using one method of assay, from holes that are almost a mile apart producing similar ranges of opt, (the rest of the BD holes) and if FL represents a sedimentary deposit then it is reasonable to start to draw a picture of horizontal layers of deposit vs. the vertical veins of many hard rock deposits. But only expanded drilling will draw that picture properly. Bottom line of the PM's is that COC, certified results are showing gold at anywhere from .95 to 2.5 opt using the JL method and .15 to .3 using SFA. You can't show with COC, certified testing PM's that aren't there. Much work needs to be done, but the fact seems to be clear that there is a significant concentration of Au in the areas drilled and tested to date. I hope that clarifies what I meant to get across. Tom F.