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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. The Company is 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 an 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 also owns a 100% interest in the Kingsway property, which consists of 264 claims on three licenses covering approximately 77 square kilometers. The project is located approximately 18km northwest of the town of Gander, Newfoundland. The Company is undertaking a 650,000-meter drill program on Queensway. It has royalty interests underlying Keats South and several additional zones in Queensway.


TSXV:NFG - Post by User

Comment by megacopperon Jul 06, 2021 7:39pm
169 Views
Post# 33503418

RE:Road, Sunday, Cokes results

RE:Road, Sunday, Cokes results
Flyder wrote: Road

To me, the assays from the Road target  of 35.36 g/t over 2.70 m is a phenomenal intersection.  Note what was said about this target:

  • The Road target is exposed at surface and is the furthest east of the Appleton fault where significant gold mineralization has been found to date but may be related to extensions of the Lotto zone 550m to the northwest.
  • Drill hole NFGC-20-71 returned three mineralized vein zones with results including 35.4g/t Au over 2.70m and 9.1g/t Au over 2.95m
  • The presence of quartz breccia veins in a separate NW trending fault corridor are suggestive of a similar style of emplacement and mineralogy to the nearby Keats and Lotto zones
This target is just sitting out there all by itself, and yet they comment that the mineralization is not only similar in style to Keats and Lotto, but may in fact be an extension to Lotto, 550 m to the NW. 

Sunday 

I went back and read the nr in January about this intercept.  What was said in that nr takes on new meaning in light of today's nr.  Here are some highlights from that nr:

  • An interval in what is interpreted to be on the hanging wall side of the main Appleton Fault displaying a broad quartz breccia vein, sulfide mineralization and/or visible gold starting at a down hole depth of 239 m was assayed on a rush basis returning 6.5m @ 18.1g/t Au including 2.95m @ 38.7g/t Au
  • This is the first discovery interval drilled in or immediately adjacent to the main Appleton Fault structure and opens a new target zone along the Appleton Fault itself.
  • This discovery hole was drilled as a step-out 50m to the north of two altered and mineralized intervals that returned up to 1.3 g/t Au in the hanging wall and footwall of the main Appleton Fault in drill hole NFGC-20-17, which was extended to depth to drill test the Appleton Fault itself 
  • A number of observed features of this new discovery interval including the style of alteration and mineralization and the affiliation of high-grade gold with a breccia unit are reminiscent of what has been observed in high-grade drill intervals at Keats.

Greg Matheson, P.Geo., Chief Operating Officer of New Found, stated: “We are excited to have intersected this new high-grade discovery on the hanging wall side of the Appleton Fault itself. Our work to date has focused on targets offset from the main Appleton Fault Zone including the Keats Baseline Zone, which are likely affiliated with a network of secondary structures related to the primary regional Appleton Fault. This opens the entire Appleton Fault itself as a primary target for high-grade gold mineralization, adding significantly to the already extensive prospective target area at Queensway North.

Note what they said about this hole being a mere 50m step-out from a 'low-grade' intercept in a previous hole, of 1.3 g/t.  This is significant!  It shows that you can have low-grade gold mineralization, and then...bang...a high grade zone just m away.  Take note of that when looking at the Cokes results.  Especially significant is the comment about the Appleton Fault itself being a primary target, not just the splays coming off of it.  

Cokes


14.85m of 3.61 g/t Au, including 4.15m of 6.43 g/t Au.  We now consider numbers like this to be 'low grade', but this is robust!  Move over 50 m, and ...bang...a high grade intercept?  And note that the Cokes is on the west side of the Appleton Fault, as is Big Vein over at LAB.  

Today's nr is utterly fantastic.  The reaction to the news today was 'blah, blah, blah'.  I guess we need the NYSE listing to bring in people with fresh eyes??  



 


Awesome post flyder. It is a great summary of the news release touching on all the important stuff. Quinton Hennigh hinted about LAB's big vein being west of the Appleton Fault and he had a smirk on his face. Perhaps he was hinting that NFG could be onto something on the western side of the fault. No doubt they will hit some high grade zones on both sides of the fault. It is an incredible robust gold system that basically goes right through the island. Still too early to say if Queensway South will be similar until they drill it but if the big gold anomalies on surface are any indication that region down there could make Queensway North look small. And I'm not joking. Listen to Dennis Laviolette on the video I've posted below and how he gets excited when talking about those anomalies down there. The best is still to come for NFG. This is just a pause here before the next round of excitement begins. 

https://m.youtube.com/watch?v=iKGl1o7ONRo
 


They are finding gold right along the entire length of the Appleton Fault. Like I have said all along this is bigger and better than any our wildest dreams. These discoveries don't happen overnight but to think about the huge success that NFG has had in such a short period of time is remarkable. Anyone that understands what is involved with finding economic mineral deposits will know that this is a rare high grade gold system. It's an absolutely huge system with high grade zones that equal the very best in the world. For anyone getting bent out of shape over a 2 billion market cap is in for the surprise of their life. Mark my words that NFG will be worth north of ten billion dollars within 5 years if not sooner. This is just the beginning. Just look at that spectacular drill core in the video below. And these guys have over 100 km of favourable ground with the Appleton Fault going through it. Amazing!!!

https://m.youtube.com/watch?v=COpd_COR1kU


 

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