good news
New Found drill results investigation finds no bias
2022-02-23 11:14 ET - News Release
Mr. Craig Roberts reports
NEW FOUND PROVIDES RESULTS OF QA/QC REVIEW
New Found Gold Corp. has released results of work programs and analysis completed by independent consultants initiated to investigate possible bias indicated by a set of 30 half-core duplicate assays (see company's Nov. 4, 2021, news release). The work program included completion of a substantial number of additional half-core screen fire assays providing a data set of 475 half-core duplicates, and the detailed statistical assessment of these results. The work also included detailed review of sample selection, preparation, and lab analysis procedures for the screen fire assays at ALS Minerals ('ALS') in Vancouver, BC and Eastern Analytical ('EA') in Springdale, NL.
The investigative program was led by Lynda Bloom, M.Sc., P.Geo., a Toronto based consultant and recognized expert in sample process audits, QA/QC program design, and assay laboratory audits (see the Company's December 15, 2021, news release), and Mo Srivastava, M.Sc., P.Geo., a recognized expert with more than 40 years' experience in geostatistical analysis, author of "An Introduction to Applied Geostatistics", a widely used textbook in geostatistics and of more than 50 technical articles on geostatistical theory and practice. He has taught geostatistics in public short courses and in university courses at Stanford, UBC, University of Toronto and Queen's University and coordinated the development of standards and guidelines for the use of statistics and geostatistics for the ASTM and for the province of British Columbia.
HIGHLIGHTS
- New Found's independent consultants have concluded that there is no evidence of systematic bias in the Company's assay results.
- The consultants conclude that the project uses well conceived and documented standard operating procedures (SOPs) for marking and sawing core, and for selecting the half-core samples sent for analysis.
- The Company will now resume normal reporting of assay results.
- Mo Srivastava summarizes his findings as follows: "The field duplicate data from Queensway confirm that the very high natural in-situ variability creates potential for large differences in field duplicates in drill hole intervals with abundant visible gold. Although there are several intervals with striking differences, both positive and negative, these represent only a few percent of the several hundred field duplicates now available. A statistical comparison of all duplicate and original sample pairs, including the most variable, supports the view that the assays are accurate; the sampling procedures at site, and the preparation and analysis procedures at the lab, have not imparted any systematic bias to the reported gold grades."
- Lynda Bloom of Analytical Solutions Ltd. summarizes her findings as follows: "Our rigorous review of the NFG assay quality control data did not identify any systematic accuracy or contamination issues at either ALS or EA. Over 12,000 samples have been assayed by the expensive screened metallic fire assay method on at least 3 kg of a half-core sample, demonstrating management's efforts to manage sub-sampling issues inherent with high grade gold deposits. Throughout the extensive database there are examples of rare events where duplicate assays of the fine fraction or splits of the crushed sample may differ by a factor of five or more. So, it is not surprising to see the same kind of variation when comparing two halves of the core where we know that geological complexity will always confound our ability to reproduce assays. The variability seen in the re-assays of the second half of the core is within an expected range for the style of mineralization. The ongoing routine collection of core duplicates will add confidence in the assays and our understanding of the gold distribution."