RE:Third ProspectAnother possibility:re.today's press release:
NFLD's June 29 Press Release stated:
"Phase I drilling has been completed at the Schooner Prospect, (“Schooner”)..... Phase I drilling is to start immediately at the Quinlan Veins Prospect (the “QV Prospect”), located at Exploits’ Dog Bay Project (the”Project”)." "Phase I drilling at Schooner has been successfully completed for a total of 2,400m in 7 drill holes."
"Core logging and sampling of the Schooner drilling is underway and expected to be completed shortly, with initial assay results expected in six to eight weeks."
"six to eight weeks" from June 29 brings us to mid-to-late August
Today's NFLD Press Release dated August 26, 2021:
From what I can tell from the PR, there are two possibilities re. the Schooner assay results (now apparently re-named "Schooner North"):
a) NFLD did not receive the Schooner (North) assay results yet, and now the date for receipt may have been delayed until early October:
"William M. Sheriff, Interim President & Chief Executive Officer of Exploits, commented “The initial round of drilling at our first two projects is complete and we await assay results from the veined intercepts encountered in a number of the holes. These results are anticipated by early October.""
b) NFLD may have indeed received assay results from Schooner (North) but came up empty re. gold, so they did not publish the assay results in the August 26 press release, but instead provided the following "update" on Schooner North:
"Schooner North Drilling intersected numerous areas of interest with quartz carbonate veining and sulphide mineralization encountered within the fine grained siltstone."
If it's b), I don't think it's good corporate practice to not explictly state that NFLD did in fact receive assay results and this is what they found: blanks in terms of actual gold.