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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

Comment by atchoukon Jun 17, 2023 11:31pm
200 Views
Post# 35502152

RE:RE:RE:No tons

RE:RE:RE:No tonsLet’s do some math exactly as you advised and consider Queensway North only. The AFZ mineralized envelope covers an area running 4.1 km in strike length by 400 m wide (see Page 7 of the latest NFG presentation on their website). Let’s quite conservatively assume that the average mineralized depth is 100 m (even though they found high grades practically from the surface to the depth of 300 m and we do not know what is hiding deeper).

4,100 m x 400 m x 100 = 164,000,000 cubic meters within the mineralized envelope. This is 442,800,000 tons of firm soil. Some of these tons have zero gold, but some can contain 10 ounces of gold or even more. Do you think that the average grade of 3 g/t (~ 0.1 of a troy ounce) is a reasonable assumption? If so, it translates into about 40 million ounces at Queensway North only.
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