New Found Gold Corp V.NFG

Alternate Symbol(s): NFGC

Metals & Mining Gold

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.

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New Found Gold Corp > New Found Provides Update on Technical Disclosure

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Comment by eldrecoon Apr 06, 2022 9:09pm

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Post# 34582687

RE:RE:RE:RE:RE:RE:RE:New Found Provides Update on Technical Disclosure

Mega - Amen!

megacopper wrote:

lewdogg wrote:

diabase1 wrote: Megacopper, there's a correct way to report assay results and an incorrect way. I guess NFG has been reporting the incorrect way for some time now, so the BC regulator stepped in. It has nothing to do with the values, but the method. My take on this if you have a 50m intercept of say 8 g/t, then all pertinent values within the 50m distance, has to be reported. Maybe NFG wasn't reporting all these intervening values. I could be wrong. Retiredgeo is very knowledgeable, so he could explain better than I could. The market hates uncertainy, even if most people don't understand what the NR said, so the selloff.

I'd like to know more about this as well...

Yes some people are hinting that NFG are smearing the assay results but I just don't see it. NFG have been very truthful and transparent in the way they report the drill results openly discussing why the results are the way they are. I know when an exploration company is reckless with the assay results. This isn't my first rodeo believe me because I've witnessed first hand exploration companies cooking the books with weird assay results and doing other borderline criminal activity with gold juniors. I've seen it all over the years. And I can tell you with 100% certainty that NFG is the best run gold junior I've owned shares in. There isn't anything underhanded going on with this company that I'm aware of

I think most investors still don't understand this type of gold system so they automatically think something doesn't add up. There is no excuse for not understanding this type of gold system. Read up on Fosterville and the geology and how that story unfolded in Australia. The same doubts happened with Kirkland Lake when even Tony Makuch who was the CEO of Kirkland Lake has doubtful and didn't even think Fosterville was worth one billion dollars at the time. Fast forward to 5 years later and Kirkland Lake had a market cap north of 15 billion dollars based mostly on production of 600k ounces of gold per year from the Fosterville mine because of the Swan Zone that Quinton Hennigh was instrumental in helping them discover and understand the geological intricacies of these orogenic type high grade gold systems.

Quinton Hennigh knew exactly what they were onto and convinced Eric Sprott to make the deal and buyout Newmarket to get control of the Fosterville mine. Eric Sprott had substantial holdings in both companies and as a result of taking Quinton Hennigh's advice walked away with a billion dollars in profit from his investment, perhaps more. The Swan Zone was the highest grade zone in the lower Phoenix Gold system along with the Eagle Zone and others. Another adjacent gold system was the Harrier Gold System that was substantial as well with high grade gold although not as robust as the Lower Phoenix Swan Zone.

NFG has taken a very careful and transparent approach even hiring experts to try and get to the bottom of the so called assay bias which I think was a farce from the get go. But the company put things on hold to see if there actually was any kind of bias and it was proved that none existed and it was just the nature of these high extremely high grade orogenic type gold systems. NFG aren't smearing the results. If they were do you think we would still be invested in this company. No