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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 Snidelyon Oct 04, 2021 9:28pm
221 Views
Post# 33965286

RE:RE:RE:Golden Joint Zone

RE:RE:RE:Golden Joint ZoneYou and I are seeing this almost identical.  Unless the underlying rock is unbelievably stable (which I highly doubt considering the underlying geology), there is no way they will be able to trench beyond 50M, and most likely 35M.  There are only a few places found so far that look good in that shallow of a deposit.  

Also, if you approach this by trench mining, you can't chase the stringers out of fear of compromising your highwall.  

I saw where you posted that they are allowing 1.4M stopes.  I am not questioning you on that, but how in the hell do they actually do that?  That is nuts!  Technology in CMs must have changed in the last few years (assuming they are doing their development with a CM).  

But all the other people wanting an open pit, I don't think you realize the amount of needless overburden you are going to have to remove if you try to chase these deep veins from a pit mine.  Underground mining becomes not only the last environmentally impactful, but also the more cost efficient approach.  

Retiredgeo wrote: These gold deposits fall into the category of "narrow veins". Narrow veins seldom have halos of low grade gold (some can have stringers of gold running off into the host rock).  You can trench narrow veins from the surface but pursuing them at depth always requires underground mines, unless their dip is very shallow.



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