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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 Jul 01, 2024 6:39pm
119 Views
Post# 36113663

RE:RE:Wondering

RE:RE:Wondering

I will accept critical analyses of the methodology but not the drilling data.

Those 336,000 assays of every meter drilled by NFG within Approx 300 meters of average depth , considered by the three independent experts as being representative sampling of the area drilled, are priceless and very accurate in their definitive gold grade content .

It is and will be the basic gold grade data used by spatial interpolation models from which a Krieged  resource estimate is made.

I have replaced that latter spatial extrapolation function by using its empirical outcome equivalence from three open pit FS studies that do the same thing.

This is a rock solid estimate alterable only by rejection of the proxy FS based empirical estimates.

How daft are you in rejecting that orogenics have their most profitable mines as open pits.

It may be true that greater gold reserves will be found deeper than open pit depths but UG mines require at least twice the grades of open pit mines to achieve equivalence in mining costs.

Discovery and mine development is much cheaper and much faster near the surface than UG.

These are universal gold mining facts.

Its why Keats Trench has been stripped, why Iceberg is now being stripped along with the other near surface high grade discoveries in 2025 .

Excepting the high cost of mine development, it's why V Lake will be cash cow for Calibre from its three orogenic open pits.

Its why Goldboro removed its UG resources from its FS.

Open pit mining of these shallow QWN deposits , especially at their  very high grades  , will be virtual cash cows using toll milling , robust cash drivers to fund a full mine that can exploit the deeper reserves once the shallow deposits are mined out.

All the while providing the best MRE that can be generated,


 

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