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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 JRafflesUKon May 08, 2024 1:21pm
77 Views
Post# 36029314

RE:RE:I was hoping someone on this board would debate with me.

RE:RE:I was hoping someone on this board would debate with me."....You can't pump out a reserve/resource estimate until you do the definition drilling...."

There may not be any merit in initiating definition drilling until the optimum location for an open pit is to be determined.
 
This would enable the crushing and concentrator plant to be located close to where seismic data indicates the most effective location for a shaft required for future underground mining.
 
Moreover, if the first phase of mining were to be an open pit, the definition drilling to depths of less than 100m may not take long.
 
It could be that the Iceberg zone proves to be the most productive location for open pit.
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