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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 Sciencegeek1on Nov 10, 2021 8:46pm
121 Views
Post# 34112994

RE:RE:RE:RE:Opportunity here

RE:RE:RE:RE:Opportunity here
diabase1 wrote: Thanks for your response. It is my understanding that what they've sent to Perth is just a small amount of core so that they can make a comparisons with previous core that they had aleady sent  to ALS and some to Eastern. Once they receive the results from Perth, then they will decide on the next step. My point is that they won't be sending core from 10 drills over to Perth any time soon. The Chrysos unit for Gander is supposed to be set up in mid 2022. However, there could be a unit operating in Val d;Or, Quebec by the end of this year. If they decide that Chrysos is the way to go, then their core will be sent to Val d'Or, until the Gander unit is up and running. In the meantime, where does all that core go that the 10 drills are producing?


The PR is clear IMO and I thank god they have been able to negotiate this with help from NOVO.  Otherwise we would have seen a slow trickle of results until well into 2022.  This is going to be a huge advantage for them and the steady release of results from the new assay for the remainder of the year will benefit the SP. They make a point of saying they are going to spotcheck/screen the Chrysos results with fire assay/metallic screening on the same cores, which for me demonstrates they are serious about ensuring confidence in their results.  

These are the relevant sections from the PR on this.  They do not explicitly say they will be sending all core but it is implied with the statement "drill core currently produced at Queensway".

"the utilization of the Intertek facilities in Perth will allow the Company to immediately proceed with utilizing the Chrysos PhotonAssay™ for the assay of drill core currently being produced at Queensway. This assay work would transition to the MSALABS facility in Val d’Or, Quebec once capacity there is available to the Company."
 
Queensway core will be logged and photographed at New Found's facilities in Gander prior to shipment of whole-core samples to Perth where sample preparation and Chrysos PhotonAssay™ assaying of the samples will be completed. The Chrysos PhotonAssay™ method is non-destructive and New Found’s QA/QC program will include fire assay/metallic screening of sample material post photon assay for comparison of the results.

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