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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 Nov 14, 2021 5:09pm
204 Views
Post# 34125196

RE:RE:drilling deeper

RE:RE:drilling deeper

Meaning, if I understand your comment, there has been a much greater amount  of erosion on the top of Queensway than in Fosterville. This translates to the higher grade ore being closer to surface as the top level has been eroded and dispersed. 

This is a benefit as the cost of extraction of the higher grade is less costly in theory. Not really, as after the shaft has been dug to a greater depth the cost of mining horizontally does not vary greatly with depth. Yes the original cost is higher as developing a shaft is costly, but on the overall not a factor.

 

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