Here’s what you need to write down and think about. Put simply in a way non-geologists can understand. These are the 3 key reasons, the “big ideas” for why Shawn Ryan, famous gold-finder and most enterprising prospector, spent millions of dollars positioning himself (staking claims) across Newfoundland years ago.
- One big structure. One major event. The entire province was flushed with Gold. This means any and all structures (cracks) have higher than average probability for hosting gold.
- Age dating was the “lightbulb moment” for Ryan. From north to south across Newfoundland known deposits and mines are all hosted in rocks of similar age range (approximately 380 to 430 million years old).
- Gabbros – gabbros – gabbros. Gabbros are a brittle rock. Gabbros crack creating room for gold bearing fluids to flow in. Plus, rich in iron and titanium gabbros cause a chemical reaction allowing gold to dump out of the solution.
Given what’s outlined above, Ryan’s key 3, he believes New Found Gold’s Keats zone (featuring 146 g/t Au over 25 m) won’t be a one hit wonder.
Ryan expects discoveries across the province will continue to be made one by one. Not overnight but many more discoveries will happen.
Beyond geological stuff: Ease of access, gentle terrain, weather that isn’t super harsh, and existing roads make Newfoundland a favorable place for discovery. Government is supportive. Newfoundland ranks top 10 globally for mining investment attractiveness. Mining is possible year round.
Bottom Line: Exciting area play in Newfoundland is underway. I’ve done all the digging. Stay tuned because my next feature–tomorrow–on Newfoundland contains specific stock picks, as promised!
Knowing what you now know, you won’t want to miss this next update.
PS—I’ve been researching and investing in Newfoundland gold stocks since 2017. I was way early recommending Marathon Gold (MOZ, TSX) and Sokoman (SIC, TSX-V), both became 5 and 10-baggers. A chance meeting with Shawn Ryan at Diamond Tooth Gerties (Dawson City, Yukon) actually helped tip me off for what was coming to Newfoundland.