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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 nozzpackon Apr 04, 2024 10:39am
72 Views
Post# 35970303

RE:RE:Let's compare drilling technique and results, and see.

RE:RE:Let's compare drilling technique and results, and see.While I agree with the need for a MRE, it's a bit of stretch to say that mined grade has no correlation with properly measured drill core grades

Mined grades are based on Reserves which have the highest spatial density of drilling rates and include a cutoff grade which eliminates low grade uneconomic ore.

Run of the deposit drill core grades includes all results , does not include cutoff grades but the statistical variance of those grades would include those cores selected for Reserves.

Average core Grades Weighted by interval length regressed against Reserve grades would be correlated to Reserve grades with an intercept approximately equivalent to the cut off grade.

This would not apply if the drill results were cooked or where drilling intensity does not meet minimum statistical industry standards.

Regardless, with over 550000 metres of drilling, there should be sufficient core data to complete MRE
for one or more of the shallow deposits.

Keats comes to mind..
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