New Found Gold Corp V.NFG

Mike is such a pest

[CliffBootth]

mike Gold Summary for Nov. 23, 2022 2022-11-23 18:34 ET - Market Summary by Stockwatch Business Reporter New management did nothing for New Gold today, but neither were new assays of any help to several other explorers. Collin Kettell's New Found Gold Corp. ( $NFG ) struggled to add two cents to $5.01 on 193,000 shares on word it has drilled a 15.95-metre near-surface interval averaging 18.6 grams of gold per tonne at Keats West, on its Queensway project in north-central Newfoundland. On closer inspection, however, it turns out that nearly all the gold sat in a one-metre interval averaging 253 grams per tonne, and so the remaining 14.95 metres averaged just 2.92 grams per tonne. That remnant result was more in line with what the company found in two other new holes at Keats West today. One yielded five near-surface intervals, including 2.64 grams per tonne over 3.2 metres, with the full 56.8-metre top-to-bottom layer of mineralization and waste averaging 0.94 gram per tonne. The second hole was much the same, with four layers yielding a top-to-bottom average of 1.41 grams per tonne across 50.95 metres. (A third hole was barren, while a fourth yielded 17.87 grams per tonne over 4.2 metres at depth.) New Found Gold turned to Melissa Render, vice-president of exploration, to hammer home the good cheer. She says the new results "affirm the significance of the Keats West discovery and indicate that drilling has locked into a new structure with proven potential." She lauded the nearly 16-metre-thick interval as a "strong intercept," but also cheered the intercepts as nearly matching the true widths of the hits on the shallowly-dipping structure as producing a "long list of positives for this new high-grade prospect." Translation: Expect more short holes into this new near-surface zone.