Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

New Found Gold Corp V.NFG

Alternate Symbol(s):  NFGC

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

Post by Retiredgeoon Aug 11, 2023 5:06am
319 Views
Post# 35583259

Gold mining

Gold miningIn mining you want to leave as much barren rock (waste rock) in the ground as possible and remove only that which is ore.  If your gold is concentrated in a thin, steeply dipping plane such as the Keats-Baseline fault you want to remove only that thin plane and leave everything else behind.  This is best done by trenching at the surface and by underground mining methods at depth.  The dark red plane can be clearly seen in Melissa's recent video.  All of the KMZ and Iceberg gold lies within that plane.  The gold is not evenly distributed within the plane.  At the KMZ the zone of high grade forms an arc which plunges at depth.  At Iceberg the better gold is to the NE.

If your gold is disseminated throughout a large blob of rock (Marathon, Snowline etc) an open pit is the way to go perhaps with an underground mine at the bottom of the pit.

The time line for mining at both Queensway and Valley is 5-7 years.  In both cases a major would like to see the property derisked ahead of time.  Snowline may be able to do so before NFG (it's deposit is much simpler) and vanish from the map sooner.

Should NFG hold on to the entire Queensway property?  It all boils down to money.  If someone were to offer Collin 100 million today for Queensway south he would probably accept.
<< Previous
Bullboard Posts
Next >>