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Gold/Mining/Energy : Maxam Gold Corp. OBB:MXAM -- Ignore unavailable to you. Want to Upgrade?

To: Paunch who wrote (7439)	3/2/1999 8:45:00 PM
From: Alan Vennix	Respond to of 11603

Paunch, Without seeing the actual reports and just judging from Maxam's release and Tim's posts, there could be a disconnect here. Tim's reading of the reports says the USGS concluded there is only a minimal chance of the source deposits being commercial - probably true as they are eroded away for the most part. Maxam (Hewlett) is concluding from the reports that the original sources are the "roots" of what is in the basin today. Not necessarily contradictory conclusions. They just apply to two different situations. FWIW, the USGS map for the area of the Peoria Seven and South sites, shows the site to be bordered by the "Sauceda Wash" about a mile to the southwest, and the "Sand Tank Wash" about 2 miles to the northeast. The Quilatosa Wash (haven't seen "Quilatosa" referenced anywhere) is between the other two and cuts directly across the Maxam property. I don't have the bordering maps to see how far the "sources" are from the Peoria properties. Alan