RE:RE:RE:RE:RE:Lab results from anybody?
Kewl002 wrote: AL -- no -- I think they can pick and choose which assay results to release as long as whatever is not released is not going to negatively impact external shareholders.I would actually EXPECT that at the exploration stage, the majority of drill holes would be dry until mineralization is discovered and the drill team can focus on a known zone.
NFG "seems" to be hitting mineralization on every darn drill hole which is an extremely rare occurrence.
For clarity, if a drill hole comes up dry -- I don't think they are obligated to release that information ever. It is rare that a drill hole with zero results is posted anywhere / ever although
sometimes within an N43-101 document they might list all drill holes and mark dry holes as NO MINERALIZATION --> even then I suspect that is just good corporat governance vs a required note.
Perhaps others on the BB have had experiences with mining companies re: zero/dry result drill holes and can add their comments.
It has been my experience that you are 100% correct Kewl002. An exploration company does not have to release all drill holes. If the drill results are considered to be non material by management to the value of the company they don't have to release them. And it's common practice for exploration companies to highlight the good holes and hide the bad holes down further in the news release. NFG is no different than any other exploration company in that regard.
On another note with the drills. The main issue hasn't been availability of drills but rather qualified drillers to operate them. Perhaps that is why NFG has drills sitting ready to go to work but nobody to operate them. Lol It isn't an easy job and it does take considerable time to train a driller. Good qualified helpers go a long ways too. I think I mentioned in a previous post that I was talking to a Rally Driller and he said the owner of the company was considering moving his office and equipment from Sussex, NB to Gander, NL because there is just so much work here on the island for years to come. This discovery by New Found Gold has obviously been a huge game changer. Also, the article below addresses the issue of qualified drillers straight from the owner of New Valley Drilling based in Springdale, NL.
https://www.saltwire.com/atlantic-canada/business/regional-business/golden-days-ahead-how-mining-exploration-is-bringing-big-bucks-into-rural-newfoundland-564141/