Reinforced learning for Bucco and Retired GeoMost of NFG's 127 Bonanza grade drill holes of over 50 gram meters are relatively close to the surface and could be mined using lower cost open pit mining techniques. NFG has the advantage of having super high grade and shallow depth.
" Of course it is not only the grade that counts, since there are a lot of profitable mining operations around the world which are developing low- to medium grade ore. Therefore it is better to use gram-meters instead of only looking at the grade when comparing the drill results of different companies. An example:
Company ABC reports drill results: 1 meter, containing 250 g/t Gold = 250 gram-meters
Company XYZ reports drill results: 50 meters, containing 5 g/t Gold = 250 gram-meters
As you can see both companies report the same amount of gram-meters. In order to determine which project would be the better investment, you need to know about the mining costs, the break even analysis and the metal value, after which you can compare both projects with each other and draw your own conclusions. "
Note how this May 24, 2021article published at KITCO uses gram meters to discuss one of NFG's Super Bonanza Grade Holes.
New Found drills 2,202 gram-meter gold near surface at Keats
Vladimir Basov Vladimir Basov
Tuesday May 04, 2021 14:13
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(Kitco News) - New Found Gold (TSXV: NFG) (OTC: NFGFF) today announced high-grade drill results from four additional holes drilled at the Keats Zone, which is a part of the company’s 100%-owned Queensway project, located on the Trans-Canada Highway 15km west of Gander, Newfoundland.
The company said that the intervals of 131.1 g/t Au over 4.65m and 124.4 g/t over 17.7m (2,202 gram-meter) in Hole NFGC-20-59 start at a vertical depth of approximately 27m and continue to approximately 63m vertical depth. These intervals provide further drill confirmation of a broad zone of near surface, high-grade gold mineralization at the north end of Keats, explained New Found.
COO Greg Matheson, P.Geo., commented: "The outstanding intervals of 131.1 g/t Au over 4.65m plus 124.4 g/t over 17.7m in Hole NFGC-20-59 yield the highest width x grade of any hole to date at Keats (cumulative +2800 m*g/t). These intervals provide further drill confirmation of the substantial zone of near surface high-grade gold mineralization at the north end of Keats. We continue our infill and step-out drilling at Keats and look forward to reporting further results in the near future."
New Found holds a 100% interest in the Queensway project, located 15km west of Gander, Newfoundland, and just 18km from Gander International Airport. The company is currently undertaking a 200,000m drill program at Queensway. Seven rigs are currently in operation at Queensway with the drill count planned to increase to ten rigs by the end of May 2021.
By Vladimir Basov
For Kitco News
The GGG here, of course grade is King, but interval depth is the most important ally. it's really not that hard to comprehend. right Bucco and RetiredGeo?