New Found Gold Corp V.NFG

Reading The Tea Leaves re. Assay Result Releases

[AlwaysLong683]

NFG PR dated May 5:

New Found Commences Shipment of Drill Core Samples to MSALAB’s Chrysos PhotonAssay Facility in Val d’Or, Quebec


NFG PR dated August 2 (today):

"Sampling, Sub-sampling, Laboratory and Discussion" section:

 

.....Drill core is split in half using a diamond saw or a hydraulic splitter for rare intersections with incompetent core....
 

....One-half of the core is kept as a witness sample and the other half is submitted for crushing, pulverizing, and assaying....

 

.....Drill core samples are shipped to ALS Canada Ltd. (ALS) for sample preparation in Sudbury, Ontario, Thunder Bay, Ontario, or Moncton, New Brunswick; an ISO-17025 accredited laboratory. ALS operates under a commercial contract with New Found....


Thus, the cores in today's PR appear not to have been sent to MSALABS for photon assaying, so either these are older cores that were sent to ALS before May, or NFG is not sending every core to MSALABS for the "Photon Assay followed by Fire Assay verification" treatment.

14 rigs now operating. My guess is equity raise will come in October / November.