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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 Gangstermeon Oct 05, 2021 8:36am
184 Views
Post# 33966028

RE:RE:RE:RE:Site Visit

RE:RE:RE:RE:Site Visit

I would think that once they have proven the fact that it is a viable area to mine they do much more assay drilling from the then mining areas. All assay work is done to determine where the excavate and what mining method is most efficient. Assay drilling continues throughout the operating life of the mine where facing an ore deposit such as they have here.
someone a few days ago mentioned Osisko. They are now drilling underground as they prepare for mining of the gold.

I believe that sufficient info is already available to categorically state that they is going to be a mine or several mines near here. Question to be determined is how to most efficiently extract and recover the gold. They will be adding to the gold reserve for many years after the mine has been opened. One critically important decision if the location of the safe headframe. Much more drilling and analysis is required before this decision can even be contemplated. 

As the core results keep coming in the extent of the deposit will be determined and mining decisions will be made, either for NFG to operate the mine or there will be a buyout. Neither will happen soon in my opinion. The story here has only just begun.

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