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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 PulpCutteron Nov 05, 2021 12:05pm
236 Views
Post# 34092427

Eric Coffin nails it....

Eric Coffin nails it....

Here's the conclusion: 

It could drop the average grade by several grams/ton, or more, for the higher grade areas. Not good at all. And, to be fair, cutting core is a shitty job and they are not hiring PhDs to do it. Entirely possible the sampler was doing what they thought was right and there was inadequate supervision perhaps. Not an insurmountable problem, but it will take a bunch of work to get an accurate grade estimate and it is likely to be lower. Sucks.

 

Then Eric's whole post, from CEO.CA:

@HRA-Coffin Assay discrepancy issues are always a (pain) as there is always a big "he said, she said" statistical fight involved and it is hard to get to the bottom of a lot of the time. That said, the more I think about it, the more I think the problem with $NFG may rest with sample selection in the core shack. You log core, then split it and send half to the lab while retaining the other half. If the samplers were, consciously or unconsciously usually tossing the half with "more shiny stuff" in the sample bag you introduce a huge amount of bias when dealing with a nuggety project with lots of VG. That is not the way you are "supposed" to do it. You are supposed to always put the same side (left or right side of the diamond saw) of the cut core in the sample bag, regardless of appearance. Better yet (and this is what $GBR does) is to always drill oriented core which is marked by the core barrel so you always know where the "top" is and it is consistent (core can get jerked around during the drilling process). You then use the orientation line as the diamond saw cutting line, always, and always choose the same side to go to the lab. I know they do it this way because I had an extensive conversation with Bob Singh about this one time - he is a stickler for this stuff. The fact that the high grade $NFG samples seemed to almost always be significantly lower on the umpire samples (i.e., the half of the core the original sampler chose NOT to put in the sample bag) certainly implies a major potential issue on QA/QC side, at the sampling, not the assaying level. If that turns out to be the case its a big problem short-term at least, though taking the samples from both sides of the core sample and averaging them will hopefully give you a fairly accurate picture. It could drop the average grade by several grams/ton, or more, for the higher grade areas. Not good at all. And, to be fair, cutting core is a shitty job and they are not hiring PhDs to do it. Entirely possible the sampler was doing what they thought was right and there was inadequate supervision perhaps. Not an insurmountable problem, but it will take a bunch of work to get an accurate grade estimate and it is likely to be lower. Sucks. $NFG

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