RE:RE:RE:RE:RE:Great Bear vs New Found GoldGangsterme wrote: You are confusing...You really mean low grade ore and not low grade gold. It is the amount of gold in a certain amount of rock that determines the grade of ore not the grade of gold. Yes, NFG has a high grade ore, not a high grade gold. And any mine is made up of a mineral that can be mined at a time and a place, safely, and profitably.
This is located in a very mineable friendly area close to infrastructure. And the "grade of the ore and the width of the intersections as well as the depth" make this very likely an extremely valuable property, especially as the likely extent of the deposit that can eventually be mined at a huge profit is vast. It appears very likely that there will be several shafts in this area either easing to one or many mining operations.
I'm confusing. Lol You can easily put me on ignore. It won't hurt my feelings any. I was trying to explain things in layman terms to some posters who might not understand that you can have a deposit of gold with 10 million ounces of gold but if it isn't economical to mine it's worthless and is not considered ore grade because it takes more money to get it out of the ground than you can sell it for.
So it isn't just about how many ounces of gold you have in the ground. There are a host of other factors that determine if the mineral deposit can be mined economically and once that is determined to be the case you can say you have ore grade rock that can be mined at a profit. Ore is an economic term. And the grade of that particular deposit would be first on that list of determining if in fact the deposit is ore grade and you can turn a profit. You can't beat grade. And the really intelligent guys in the industry know this and that is why everyone is so pumped about this NFG discovery in NL. I posted the video of Eric Sprott where he discusses about grade and its importance when it comes to profit. Nothing confusing about that in my eyes.