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.

TSXV:NFG - Post by User

New Found Gold Corp > Press release

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Comment by Daisiedeeon Nov 02, 2022 8:16am

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Post# 35065522

RE:RE:Press release

megacopper wrote:

Retiredgeo wrote: Another new gold vein. The entire Appleton fault zone is going to be a spiderweb of these gold veins.

Once they do their seismic survey and extend all of these gold veins to depth their inferred resource is going to be absolutely huge.

I will be surprised if a buyer emerges. Narrow vein deposits can be rich and profitable but most mining companies don't want them. They are opportunities for small and mid-sized companies which want to grow into big companies (the Kirkland Lake model). I suspect that NFG's mine plan will be NFG's mine plan.

More positive news from NFG on the Lotto North Zone this morning. Looks like they will find lots of high grade gold right along the entire Appleton Fault. You are probably correct in saying most big gold companies don't want these narrow high grade veins however Agnico might want to replace their Fosterville mine with Queensway. Just a thought otherwise NFG will be developing it themselves. It will be extremely profitable once it's up and running.