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

To: B.D.Bauden who wrote (11676)	4/9/1998 5:14:00 PM
From: Kim W. Brasington	Read Replies (2) \| Respond to of 20681

B.D.: The plans for a pilot plant have not been scrapped. A pilot plant is a normal part of most mines. The J/L assaying has not been proven to the satisfaction of Naxos management yet. Dr. Johnson continues to work on the assaying and recovery parts of his process. Any pilot plant addresses recovery. We are not yet to that point with the J/L process. In the interim period, there has been quite a bit of work done on the conventional part with lead fire assays being done to depth on two holes. There will be a thorough metallurgical and mineralogical report that will be forthcoming from South Africa that will identify all of the interfering elements in recovery and assay of precious metals from Franklin Lake. A conventional recovery method uses reports such as that to build recovery loops that will take out the interfering elements. At the moment, I am unaware of the status of the J/L equipment. In the wait for the arrival of the South African report, the logical approach has been to delineate some type of resource over a small area of the playa through drilling, which management is doing. Regards, Kim W.