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

To: jlallen who wrote (12506)	4/30/1998 11:28:00 PM
From: W.F. Schwertley	Read Replies (2) \| Respond to of 20681

To All, Did you all notice that CMRI is no longer employed by Naxos? According to the last press release "...the remaining ore from the Behre Dolbear drill program has been shipped from CMRI to Rocky Mountain Geochemical (RMG) under chain of custody for processing. RMG has, as of the 20th of April, started shipping new samples to our designated assay labs." If you recall, Rocky Mountain Geochemical's (RMG) analyses on drill hole No. 5 were consistently lower than those achieved by Ledoux & Company. The lower results were attributed to slight differences in processing the ore such as differing detection methodologies and flux and sample preparation. Do you suppose the low numbers in the last press release had anything to do CMRI's hasty departure? And does this mean that RMG is no longer a designated assay lab? A while ago on one of the DD threads someone commented on the one and only producing platinum mine in this country. Would anyone happen to know how many oz/ton of PGMs they were recovering? Thanks, WFS

To: jlallen who wrote (12506)	5/1/1998 9:32:00 AM
From: Tom Frederick	Read Replies (1) \| Respond to of 20681

Mr. Allen, Agreed. The production line set up for this 68 hole 7.4 year project will be key. In my conversations with IR, it seems that they are set up for a dramatically faster turn on processing for this drill program but it will be the overall averages of SFA certified results that will be under the microscope. I believe it is fairly common for deposits to be valued based on drilling and testing alone assuming SFA methods are used for gold content. Mr. 2 mentions the long history of Naxos claiming a unique, complex ore and proprietary methods of recovery. However, Naxos has shed that image by now using completely standard testing and COC material so that analogy no longer holds water. Kim would likely be able to comment on this subject with more hard data but I believe in my own DD I seem to recall that many properties can start to get tremendous interest on drilling and assay alone. Let's keep in mind that if Naxos were just another million or two ounce mine, we would not stand a chance in this market to get developed. It is the potential (To all those waiting to pounce, I said POTENTIAL) of FL that will make it a Cinderella story if this drill program starts to show consistent overall averages to depth. 2 to 3 billion tons at .1 is 300 million ounces. The current worlds largest deposit is estimated at 84 million ounces. There is no major PM mining company in the world that wouldn't want a deposit of this size and lifespan. Plus, I fully believe that silver and the PGM's will prove out also. But that is just my opinion. Granted it will take a very large drill program to PROVE the 2 to 3 billion tons as viable ore, but the point is, the 68 holes will start to draw a picture if it is POSSIBLE that FL holds that much ore. This dragged out a bit but I hope it puts things is a relative perspective within the mining world. Regards, Tom F.