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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 likeikeon Feb 03, 2022 9:10am
174 Views
Post# 34392499

RE:Assay results backlog not new

RE:Assay results backlog not new

Assay backlogs force juniors to set up labs

Headshot of Kate Emery
Kate EmeryThe West Australian
 
 

Frustration with assay backlogs are driving West Africa's gold juniors to build their own on-site laboratories in a bid to speed up processing times.

WA's Noble Mineral Resources is the latest to do so at its Bibiani project in Ghana and the miner's predictions about time and money to be saved explain why it is not alone.

With the laboratory - owned by Noble but operated by Performance Laboratories - up and running, Noble expects to reduce the time taken to turn around assay results from up to five weeks to as little as 24 hours.

 

Similarly, it says costs for a single sample could be as little as half the previous cost.

Noble's decision mirrors moves by Burkina Faso explorers Ampella Mining and Gryphon Minerals, among others.

In each case, the aim is the same: speeding up assay results makes it easier to plan drilling programs and quicker to upgrade resources and keep investors happy.

Expectations of consolidation in the region gives companies an added incentive to grow sooner rather than later to avoid becoming an easy target.

Slow turnaround times have made it hard for for explorers in some West African countries to respond to the surge of activity.

Gryphon managing director Steve Parsons said the turnaround for assays had jumped from two weeks to eight.

"There's so much going on there it's just booming," he said, adding that Gryphon was waiting on about 35,000 samples.

As a result, Gryphon is in the process of setting up its own "prep lab", where it can grind and crush samples before sending them to an external laboratory.

However, not everyone is following the trend. Endeavour Mining chief operating officer Mark Connelly said the company had been in Ghana long enough to forge a strong relationship with a laboratory that was meeting its needs.


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