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.

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New Found Gold Corp

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Post by nozzpackon Jul 02, 2024 10:33am

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Post# 36114302

Prediction Success of FS Drilling Index

GLTA

In cant believe I am doing this as its so obvious.

Can V Lake and Goldboro accurately predict Lynne Lake pit size in ore volumes ?

V Lake ....1420 X 221400 = 314 ,000 tons

Goldboro...1750 X 221400 =387,000 tons

Average ............................= 350,000 tons

Actual ..................................272,000 tons

The under estimation error is just 6 %

and so on with the other two permutations

Conclusion is obvious ....highly predictability success

OPen Pit Mine	Drilled Meters	Pit ore Volume ( m tons )	Ore Volume / meter drilled (tons

Valentine Lake	428000	607	1420
Goldboro	81000	142	1750
Lynne	221400	372	1680

Average Volume/ Meter			1600