New Found Gold Corp V.NFG

gold summary

[likeike]

 Gold Summary for Sept. 1, 2022 2022-09-01 19:27 ET - Market Summary by Stockwatch Business Reporter Today might not have been the best of days to roll out the first assays in a month from your 14-rig drill program. Collin Kettell and Eric Sprott's New Found Gold Corp. ( $NFG ), $13.50 in mid-2021, fell 19 cents to $4.54 on 261,000 shares today on word it has drilled a 5.75-metre interval averaging 18.95 grams of gold per tonne in one of 17 new holes at its Queensway project in north-central Newfoundland. While the grades and intervals fell well short of the bonanza-grade encounters scored in the spring of 2021, the latest holes tested new areas of interest along the Appleton Fault zone at Queensway. The headline hit came from the Enigma zone, at a site 65 metres northeast of where the company drilled a 2.15-metre interval averaging 275 grams of gold per tonne in May just beyond the north end of the prolific Keats zone. Melissa Render, the company's vice-president of exploration, offered her usual geological monologue to cheer the results, although perhaps she has been attending promoterese-as-a-second-language classes, as she sprinkled bits of plain-speak into her spiel. She and her crew are "very encouraged" by the recent discovery of mineralized veins across an area 630 metres by 150 metres at Keats North, and they are zeroing in on the Umbra and Penumbra fault zones as areas playing a role in producing the spectacular grades found at the north end of Keats. "This area is certainly lighting up with a high success rate in hitting gold mineralization in veining," Ms. Render enthuses, adding that the zones are showing excellent geological continuity, are open in all directions and remain sparsely drilled. Accordingly, she adds, "we are trying to assess an area with a footprint similar to Keats itself," concluding that Keats North "provides further confirmation of our big-picture exploration thesis."

 

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@RealMoney Doug has more credibility to comment how close to the fine moment of the exploration. Current grades etc are nothing more than a tiny prelude. The conclusive part is the boxes