RE:RE:It keeps getting BIGGERmegacopper wrote:
knoxt wrote: Melissa Render, VP of Exploration for New Found Gold, stated: “It is not surprising that we are encountering new orientations of high-grade gold veins within this highly prospective domain of rock located between the Keats Main Zone and the Appleton Fault Zone. This area is of high-priority because it is evident that it has been subjected to the same gold-bearing fluids and related deformation responsible for producing the Keats Main Zone. The data we are collecting allows us to model and accurately project these high-grade veins which is used in our drill hole planning and ultimately increases our success rate for intersecting them. It is an exciting target and this discovery along with the gained knowledge is critical for exploration achievement; work going forward will look for these vein orientations and more importantly, their intersections with other high-grade gold vein orientations. We currently have one drill dedicated to exploring along strike of this intercept in the footwall domain with more drills on the way.”
Yes this is more great news but I suspect the market will brush it off and it will be a non event. It seems NFG is a victim of its own early success last spring in which it encountered mind blowing extremely high grade intersections. Now they are only encountering extremely high grade intersections without the mind blowing part. Lol
- The interval of 56.69 grams per tonne gold over 2.45 metres in drill hole NFGC-21-407 was intersected at the new Keats footwall discovery (see Oct. 13, 2021, news release). This high-grade gold vein is interpreted to be connected to the mineralization encountered in hole NFGC-21-238, which intercepted 88.53 g/t Au over 3.35 m, thereby extending the vein 20 m south; it remains open in all directions.
I should remind investors that this new zone above in which NFG has intersected below the Keats Main Zone with two drill holes is similar to the Swan Zone at Fosterville in grade and width. Very impressive. The gold system at Queensway is very robust. See below for comparison purposes to understand the significance of this new zone. Like the old saying goes "you can lead a horse to water but you can't force them to drink" so eventually the market will figure it out. Eric Sprott said it took the market two or three years to figure out just how rich the Fosterville mine was so let hope it doesn't take that long with Queensway.
The Swan Zone, currently the highest grade mineralized zone at Fosterville, is 2-5m in width, dips west and is presently defined over a 275m strike and a 200m vertical extent.
In particular, the Swan Zone (previously known as Lower Phoenix Footwall) contributed 532,000 ounces at an average grade of 58.8 g/t Au (281,000 tonnes) to the updated Mineral Reserve estimate.
I think investors need to open their eyes and do some research. I don't think I can spell it out any better than I did above comparing Queensway to Fosterville. Although I will add that in my view Queensway is better than that of Fosterville because you can be mining 3 or more zones simultaneously when it does go into production. And it's still early days so of course more zones will be found along strike and at depth. It is an incredible gold system. Investors will figure it out eventually. We just need to be patient.