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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 diabase1on Oct 21, 2021 3:43pm
145 Views
Post# 34034275

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:$48 Million Investment by Eric Sprott

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:$48 Million Investment by Eric SprottMegacopper, there is gabbro just to the east of the JBL Fault on someone else's property (Gossan Resources I think). There is gabbro east of both the Queensway property of NFG and the Kingsway property of LAB.
You can think of FedEx bringing the gabbro, along with the gold, from the mantle, up to near surface (100's of km). FedEx then hands the gabbro over to a local delivery service who then brings everything up closer to surface. On the way up, there is alteration taking place, which produces quartz. The gold is attracted to the quartz as they are heading for surface. Voila!! We have the Keats, Lotto, Big Vein, Big Dave etc etc. I'm sure retiredgeo will give us a more accurate explanation.
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