An investigation into assay discrepancies has revealed that samples from Naxos Resources’ (NAXOF-OTC) Franklin Lake property in California were contaminated during the initial assay procedure at a testing facility operated by Ledoux & Co.
The investigation was triggered when several independent laboratories were unable to confirm gold values reported by Ledoux in samples from Franklin Lake. In a letter to Naxos, Ledoux stated that the contamination “resulted from rotating gold and silver as collectors in the [assaying] protocol.” Ledoux recently re-tested all samples from Naxos’s 1998 drill program grading more than 0.015 oz. gold per ton using the assay protocol. Naxos disclosed that every sample was found to contain less than 0.003 oz. (trace) gold.
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