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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 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 a 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 is undertaking a 500,000-meter drill program at Queensway.


TSXV:NFG - Post by User

Post by Retiredgeoon Mar 21, 2023 7:46am
355 Views
Post# 35350593

Press release

Press releaseAs I have said before Keates West is a composite of two kinds of mineralization.  There are the older, broad domains of low grade, refractory mineralization and then there are the younger, high grade veins running through it.  The high grade veins grab the headlines but the ounces will build up fast in 80 m of 2 g/t close to surface.  A third of an oz over 23 metres is also a fine result.  This is an open pit mine in the making.

More of the holes are now being drilled towards the NE implying that they now have a better handle on vein orientation.  The presence of that second order fault is interesting.  Note that 22-960 was next to that fault and still hasn't been followed up on the other side of the fault (spatial proximity across a fault is rather useless).  Please bear in mind that this is a continental collision zone and the rocks have been thoroughly smashed.  Nothing is as simple as you want it to be.
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