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

To: Alan Vennix who wrote (12255)	4/24/1998 11:08:00 AM
From: go4it	Respond to of 20681

Alan, 50MM is a good round number for 1 sq.km down to 100'. It is actually closer to 60MM. I would imagine that the density of the clays are MUCH higher than that of the dirts. For Jason, Economics have very little to do with grade in these cases. A heap leach operation can be profitable down to 0.02 oz per ton. Of course that is not an option here unfortunately. Economic is totally dependent on extraction and process costs.

To: Alan Vennix who wrote (12255)	4/24/1998 11:10:00 AM
From: mark silvers	Respond to of 20681

Alan I left off the part that says million.....(sorry) The tight grid areas is a small part of the playa(which hopefully holes 1,5 are a start to proving the entire playa contains PMs) the richest part of the playa is supposed to be in the tight grid area(hole 5). All of this is, of course raw speculation, as the only true way to determine hot and cold areas is by doing the actual drilling and subsequent testing. Time will tell. One other interesting aspect is that PM values continue to depth with no apparent drop off. The 500 ft hole tests should provide some further clues as to what we can expect at deeper depths(still only a fraction of the true depth of the playa- est. 6000 ft) Mark