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New Found Gold Corp V.NFG

Alternate Symbol(s):  NFGC

New Found Gold Corp. is a Canada-based mineral exploration company. The Company is engaged in the acquisition, exploration, and evaluation of resource properties with a focus on gold properties located in Newfoundland and Labrador, Canada. The Company holds a 100% interest in the Queensway Project, which comprises an approximately 1,662 square kilometers area, located about 15 kilometers (km) west of Gander, Newfoundland and Labrador, and just 18 km from Gander International Airport. The Queensway Project is divided by Gander Lake into Queensway North and Queensway South. The Company also owns a 100% interest in the Kingsway property, which consists of 264 claims on three licenses covering approximately 77 square kilometers. The project is located approximately 18km northwest of the town of Gander, Newfoundland. The Company is undertaking a 650,000-meter drill program on Queensway. It has royalty interests underlying Keats South and several additional zones in Queensway.


TSXV:NFG - Post by User

Post by JRafflesUKon Jul 01, 2022 3:30pm
169 Views
Post# 34796608

Vertical attack on ore veins v conventional open pit

Vertical attack on ore veins v conventional open pitVertical attack on high grade vertical ore veins v conventional open pit mining

https://www.engineerlive.com/content/vertical-attack

Cutter For Gold Vein Mining
Gold veins, be it vertical or near-vertical, often constitute a challenge to miners. The small size of the ore body over great length and only little exposure to surface makes it difficult to mine economically. Open-pit mining of such ore bodies often comes to an end soon, due to the high stripping ratio and the enormous environmental impact.
Underground mining is expensive for the development and for mining due to the tight working conditions in the fissures. A combination of both – cutter mining to about 250m depth and underground mining below cutter mining – reduces development time and cost considerably and generates revenues at a very early stage of a new mining project.
Koidu, a BGS company, holds diamond mining leases in Sierra Leone for kimberlites, mostly kimberlite dykes. Jointly, the idea was conceived to use trench cutter equipment as a mining tool to excavate these dykes to greater depth. Despite the remote location of the leases in eastern Sierra Leone a test was carried out with a BC 33 cutter in 2010. The cutter width chosen was 800mm, based on Koidu’s assumption of a dyke width between 800 and 1,000mm.
A Sustainable And Selective Mining System
The selective cutter mining system for gold veins will concentrate on the excavation of the vertical or near-vertical ore body only.
There are several key advantages of such a system, including the fact that mining of so far uneconomic small ore bodies and veins becomes viable. This approach allows operators to avoid open pit mining with a large environmental footprint and mine dumps and it doesn’t require any underground development – meaning there is a much lower installation cost. Minimum dilution of ore (almost zero strip ratio) is another advantage.
Additional benefits include increasing the mine lifespan after open pit mining ends without increasing the environmental footprint as well as increasing the mine life without any additional infrastructure. Finally, time to mine is extremely short and equipment can be used on several ore bodies or even mine sites.
Mining has always been at the centre of various interests. Economic viability, environmental impact and social acceptance are key factors that must be balanced to achieve a sustainable mining solution.
Cutter vein mining with its no, or very low, additional environmental impact and optimised economics by mining the ore body only, can achieve a much better acceptance from the authorities, and the public, than conventional mining. Cutter mining systems help to satisfy the demand for the much-needed commodities in our modern society that are increasingly focused on sustainability.

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