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

To: Tom Frederick who wrote (17610)	1/27/1999 11:17:00 PM
From: Kim W. Brasington	Read Replies (2) \| Respond to of 20681

Tom: There is a wealth of material in the metallurgical community that tells multiple ways of fire assaying many different materials/ores. There is no one fire assay that will fit all. Different variations in pre-treatment, fluxes, collectors, firing temperatures, etc. are used for different materials/ores. A classic text is Edward Bugbee's "A TEXTBOOK OF FIRE ASSAYING." that goes into great depth showing how to fire assay different ores. The ongoing work with Franklin Lake material is exciting in that initial results are encouraging. Consider this as a preview in a research program, which is what is going on. When the company feels that repeatability and consistency have been achieved, then a referee lab will verify the process. As much as Naxos is gratified to receive these initial SFA results, management feels that it can be economic recovery that can add the greatest shareholder value. Economic recovery can bypass the whole debates of "Is it there?" and "Is it economic?" As has been pointed out many times, there is no prototype of this kind of metallurgical deposit. Proof is easier with recovery in hand. Production can also bring with it dividends in practical operating experience, no small item in mining circles. The vast majority of the present mining community are members of the "cyanide club", which is rather difficult for young companies to become members of, because of cost of permitting and establishing plants. In view of some of the recent mining challenges, that have taken place such as in Montana, (no new cyanide production plants may be built), some persons argue that other types of recovery may have a growing audience. It is axiomatic that nothing happens quickly in the mining community - an example being of how long (approximately 20 years) that it took the mining community in the U.S. to accept cyanide (turn of the century). There is a group of elements that are called halogens - (bromine, chlorine, fluorine and iodine) that are recognized as known gold recoverers. There has been little production work worldwide done with these, because cyanide was so widely accepted and understood. The present pilot plant is being reconfigured by a man who has patented and sold a bromine product to a chemical company, and has had experience with bromine production of precious metals. In the months to come, Naxos will be able to quantify how well the bromine process works on Franklin Lake material. Regards, Kim W. Brasington