New Found Gold Corp V.NFG

Updated Estimates of Ounces Drilled

[nozzpack]

In 2023 , I estimated the number of ounces uncovered from for three zones of QWN assuming that the average grade would be the same as that of MOZ V Lake three Reserve pits .

The calibratiion index was the number of ounces  per square m of pit area estimated as the number of ounces contained in each pit by the square area of that pit , as obtained from  V Lake Feasability  Study .

The original post assumed that the grades of the three QWN pits were the same ( 1.9 gms /ton ) as v Lake .
Those results indicated close to 5 million ounces in the QWN three pits .

In the updated analyses , grades have been provided for 2023 drilling results to greater depths than the open pit which is about 400 vertical meters in the Mett NR of today .
I use the approximate average of about 10 grams for Iceberg .

It should be noted that the area of these three QWN pits has increased since 2023.

As is evident from the Table below , the proxy calibration using updated grades for the QWN pits has increased the number of ounces below these three pits to 400 m to 28 m ounces from 4.8 m ounces .

The statistical slip way from which these estimates are launched is probably quite wide .

In such cases , I divide by 2 which results in about 14 million ounces beneath these three pits .

Mind you.
While having greater conviction than illustrative , computed outcomes  do convery the indication that QWN in its final totality both area wise ans depth wise, will have many more ounces than 15 m or so.
AIMHO 

MOZ	Dimensions	Area in Sq m	Average pit  Grade ( gms/ton )	Contained gold ( Million Oz )	Ounces Beneath Sq M  of Pit
Marathon	1500 x 125	188,000 sq m	1.76	1.70
Leprachon	900 x 75	68000  sq  m	2.15	1.08
Berry	1500 X 40	60000 sq m	1.97	1.09
MOX Total		316,000 sq  m	1.90	3.9	12.2 / sq m
NFG
K2	410 x 395	162000 sq m	15.4	16.1	99  oz / sq m
Iceberg	665 x 200	133000 sq  m	(10 )	(8.5)	64 oz/ sq m
Keats W	305 x 315	96000 sq m	5.7	3.5	37 oz / sq m
NFG Total ( 1)		391,000 sq m	(1.90)	(4.8)	(12.3 oz / sq m )
NFG Total ( 2 )		391,000 sq km	10	28	64 oz / sq m

[nozzpack]

In 2023 , I estimated the number of ounces uncovered from for three zones of QWN assuming that the average grade would be the same as that of MOZ V Lake three Reserve pits . The calibratiion index was the number of ounces  per square m of pit area estimated as the number of ounces contained in each pit by the square area of that pit , as obtained from  V Lake Feasability  Study

[TheGreekGoldGuy]

Another meaningless nonsense post by the Nozzpack. Why would the King of Nonsense leave out the Lotto, Golden Joint, Jacpot zones among others?  NFG has a massive project and they are still making new discoveries. Why should they rush into getting a low ball MRE estimate from a third party?   GGG here, why are you here?  Your whining and complaining is boring. The NFG management

[nozzpack]

As repeated many times but ignored for that very reason ...you cannot fix stupid

[TheGreekGoldGuy]

This post has been removed in accordance with Community Policy

[TheGreekGoldGuy]

So Nozzpack is this guy stupi9d also?   "@Snidely Another problem that the market (particular retail investors) has with a resource estimate is that the focus is almost entirely on the total number of ounces, not on the grade. I can't tell you how many times I have spoken with retail investors who are playing around in mining stocks and they do their valuations by taking

[nozzpack]

And, so NFG has adhered to your principle of never doing a MRE , the market knows it so the share price is down 60% from its highs in 2021 when investors bought on the normal assumption that a 500,000 m drill program would give them a substantial MRE if the grades were maintained. And, absolutely no volumes as nobody  will invest on the Float, Bloat and Hope model. Righto. To repeat

[Evenkeel123]

So GGG, why are you here?  You have created your own board over on proboards to get away from all this so called nonsense, so why don't you go there, stay there, and yap with Ike all day long. Everyone's opinion can be expressed, and most can be appreciated for what they are meant to represent,   Non of you, however, understand a counter-arguement and what it means, and

[TheGreekGoldGuy]

So now the coward Evenkeel who posts as Aardvark on  the CEO board is trrying to get the GGG to leave and stop posting his facts here. Don't you realize Evenkeel/Aardvark that you get no respect on either board. Most posters are fed up with you, the same way that they are fed up with the Buccos. As for Nozzpack, in he early posting he actually could stay focused on NFG, but then became

[Evenkeel123]

ROFLOL!!  Name calling, so low of you, I sense desperation in your posts.   How much money have you make here??  Or I should say.....how many bucks are you down now? You are doing well.  Carry on!  Keep up with the language too.  It's so refreshing, lol! EK

[Dixiedee]

A man with no shares in newfound gold comes here daily and runs down newfound gold and its shareholders you don't think something is not right with that that maybe 

[TheLastDip]

This post has been removed in accordance with Community Policy