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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

Post by likeikeon Nov 05, 2021 9:04am
211 Views
Post# 34091045

transcription error look at the bottom

transcription error look at the bottom

TORONTO, Nov. 05, 2021 (GLOBE NEWSWIRE) -- Kirkland Lake Gold Ltd. (“Kirkland Lake Gold” or the “Company”) (TSX:KL) (NYSE:KL) (ASX:KLA) today announced a revised drill intercept for one drill hole reported in the Lower Phoenix System at Fosterville in the news release issued on August 30, 2021 (the “August 30th News Release”). All other intercepts reported that August 30th News Release are unchanged. The drilling results and collar information for drill hole UDH4051 are presented in Tables 1 and 2.

The drill result initially reported for the Lower Phoenix VG intercept was 51.7 g/t Au over 2.6 m (ETW 2.2 m), including 215 g/t over 0.6 m (ETW 0.5 m) in hole UDH4051. However, the revised intercept is 207 g/t Au over 2.6 m (ETW 2.2 m), including 947 g/t Au over 0.6 m (ETW 0.5 m). The grade revision for the intercept represents a four-fold increase from the previously reported result. The revision followed additional review of the assays released on August 30, 2021 from the Fosterville mine and resulted from an analytical error at independent assay laboratory, On Site Laboratory Services.

Tony Makuch, President and CEO of Kirkland Lake Gold, commented: “The correction to the intercept in hole UDH4051 is significant as, at 207 g/t over 2.6 m, it is extremely high-grade and is located 500 m away from our deepest Mineral Reserves in Lower Phoenix. With the very high concentrations of gold we get in the quartz with VG mineralization at Fosterville, the revised intercept provides increasing evidence that there will be additional high-grade lenses that we can identify as we drill to extend the deposit down-plunge from current Mineral Reserves.”

The error in the initial report was identified during a subsequent review of the sample batch, which was assayed using an Atomic Absorption Spectrometry (AAS) instrument to measure gold in solutions. The analytical method required solutions for extremely high-grade gold samples to be diluted, and dilution calculations applied to the AAS readings to return the gold assay. On Site Laboratory Services identified that a transcription error had occurred, and that a dilution calculation had not been applied to two results in their initial report.

Comparable results for the updated UDH4051 intercept have since been returned for screen fire (metallic screening) assay, and the Chrysos PhotonAssay techniques.

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