New Found Gold Corp V.NFG

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@mike Gold Summary for July 7, 2022 2022-07-07 19:57 ET - Market Summary by Stockwatch Business Reporter Dr. Roger Moss and Eric Sprott's Labrador Gold Corp. ( LAB ) rose one-half cent to 38 cents on 170,000 shares on word that it has scored a bonanza-grade hit at the southwestern end of the Big Vein zone at its Kingsway project in north-central Newfoundland. The hit averaged 284.1 grams of gold per tonne, but over just 0.58 metre, as the long, rich hits turned up by New Found Gold Corp. ( $NFG : $5.56) a year ago across its neighbouring Queensway project continue to elude Labrador. A second intercept in the headline hole returned 15.05 grams of gold per tonne over 1.11 metres, and Labrador had a few noteworthy new encounters elsewhere to cheer. One, a one-metre hit at Golden Glove, yielded 20.07 grams of gold per tonne, while a 13-metre near-surface zone at Midway produced 2.2 grams per tonne. (Much of that gold sat within a four-metre stretch that averaged 5.23 grams per tonne.) Dr. Moss, president and CEO, found it "exciting to find the highest-grade mineralization drilled at Kingsway" more than a year since drilling began -- and at the farthest southwestward extent at Big Vein to be drilled so far. This, he enthuses, suggests excellent potential for further high-grade mineralization as drilling continues southwestward, attesting to the prospectivity of the Appleton Fault zone in this area. (Never one to pass up a promotable assay, Dr. Moss also was pleased to cheer the Golden Glove hits, which occurred 160 metres south of the discovery outcrop.) There is a limit to the southwestward drift of Labrador Gold's drilling, of course, as the Golden Glove drill hits are mere metres from the boundary with New Found's property, while Big Vein is about 3.5 kilometres northeastward from the border. At this point, investors still expect -- and Dr. Moss and his crew are still chasing -- the rich strikes that New Found has scored at Lotto, three kilometres southwest of the property border, and at Golden Joint and Keats, between one and two kilometres farther southwestward. Labrador Gold has managed the grades of its more successful neighbour, but not the widths. In the spring of 2021, New Found Gold wowed the market for weeks on end with word of one bonanza-grade strike after another. Those results included a 430.2-gram-per-tonne hit across 5.25 metres at Golden Joint, 146.24 grams per tonne over 25.6 metres at Keats and -- closest to Labrador's property -- 150.3 grams per tonne across 11.5 metres at Lotto. Remember, too, that New Found Gold also has a bonanza-grade showing at Big Dave, just metres southwestward from the Kingsway border. Grab samples there produced up to 1,131 grams of gold per tonne, but the company has yet to drill the target