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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 Evenkeel123on Jul 02, 2024 10:09am
84 Views
Post# 36114250

The usual path to production

The usual path to production
From a friend of mine

The usual path to production is drill at the proper spacings for an mre, then a pea, then a pfs, then a production decision. While that is on going some permitting studies can be done simultaneously but some need to wait until scale is determined. They can also send off a small 5 tonne sample to a met lab and a 10k or 20k tonne bulk sample to a custom mill somewhere. Those bulk samples can be done fairly quickly. One should not assume mre grade will match bulk sample grades though. Especially with veiny coarse systems. The larger the sample the better but they always high grade those samples. Take WM for example, they sent a bulk sample out to the Camflo mill several years ago which came back at 18 gm but when the MRE came out it was closer to 2.5 gm for underground and 1.5 gm for the pitable ore at surface. Drill grades and mre grade can be completely different because the mre includes much more dilution required to extract blocks of ore, not to mention companies want to show high grades to pump the stock at the bulk sample stage.
 
If NFG does go with a a mill, either owned, or custom, located 270km away then run away. If they have a decent deposit they will build their own on site. Full scale mining with their own mill will take a minimum of 4 years from today. Bulk sampling can be done within 6 months.
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