Bullboard - Stock Discussion Forum New Found Gold Corp V.NFG

Alternate Symbol(s): NFGC

Metals & Mining Gold

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... see more

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New Found Gold Corp > Prediction Success of FS Drilling Index

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Post by nozzpack on Jul 02, 2024 10:33am

Prediction Success of FS Drilling Index

GLTA

In cant believe I am doing this as its so obvious.

Can V Lake and Goldboro accurately predict Lynne Lake pit size in ore volumes ?

V Lake ....1420 X 221400 = 314 ,000 tons

Goldboro...1750 X 221400 =387,000 tons

Average ............................= 350,000 tons

Actual ..................................272,000 tons

The under estimation error is just 6 %

and so on with the other two permutations

Conclusion is obvious ....highly predictability success

OPen Pit Mine	Drilled Meters	Pit ore Volume ( m tons )	Ore Volume / meter drilled (tons

Valentine Lake	428000	607	1420
Goldboro	81000	142	1750
Lynne	221400	372	1680

Average Volume/ Meter			1600