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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

Comment by Retiredgeoon Jun 11, 2024 7:32am
171 Views
Post# 36082279

RE:Deep, drilling

RE:Deep, drillingPeople should remember that these are structural holes not step outs.  Their objectives are to validate structures at depth not bring home high assays.  If they happen to hit high grade at depth - Bonus!  In some respects you can consider this a maiden drill programme.

The majors will want to see proof of gold at depth and continuity of structures to depth before thery even consider making an offer.  I understand fully.  There could be a buy out or buy in this year but I think next year will be far more likely.  This project ios being rapidly derisked.
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