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 > Rock Solid 25 million ounces QWN Selected Discoveris

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Post by nozzpackon Jul 25, 2024 9:37am

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Post# 36147723

Rock Solid 25 million ounces QWN Selected Discoveris

V Lake Pit Mine	Size ( L x W x D ) in M	Pit ore Volume ( m tons )	Pit Contained Gold ( m ounces ) FS	uncut grade ( gms/ton )
	A	B = LWD x 2.84 )	C	D = C x 31 / B
Marathon	1250 x 650 x 300	692	2.3	0.10
Leprachon	1000 x 700 x 300	588	1.4	0.07
Berry	1900 x 600 x 300	970	1.4	0.05
total		2250	5.1	0.07

Prospect	Drilled Meters	Volume Conversion factor	Volume Sampled mil tons	Uncut grade ( gms/ton )	Contained Gold m. ounces
	A	B	C ( A x B )	D	E ( C X D / 31 )
Keats Main	85574	5250 tons / meter	450	0.67	9.7
Keats North	26920	5250 tons / meter	141	0.22	1.0
Keats South	30494	5250 tons / meter	160	0.14	0.7
Keats West	30774	5250 tons / meter	162	0.53	2.8
K2	27741	5250 tons / meter	146	0.36	1.7
Lotto	24238	5250 tons / meter	127	0.36	1.5
Lotto North	26252	5250 tons / meter	138	0.12	0.5
Iceberg	33642	5250 tons / meter	176	0.69	3.9
Iceberg East	21251	5250tons / meter	112	0.23	0.8
golden Joint	29429	5250tons / meter	155	0.34	1.7

Total	336315		1767	0.44	25
V Lake	4290000	5250 tons / meter	2250

V Lake Pit Mine

Size ( L x W x D ) in M

Pit ore Volume ( m tons )

Pit Contained Gold ( m ounces ) FS

uncut grade ( gms/ton )

A

B = LWD x 2.84 )

C

D = C x 31 / B

Marathon

1250 x 650 x 300

692

2.3

0.10

Leprachon

1000 x 700 x 300

588

1.4

0.07

Berry

1900 x 600 x 300

970

1.4

0.05

total

2250

5.1

0.07

Prospect	Drilled Meters	Volume Conversion factor	Volume Sampled mil tons	Uncut grade ( gms/ton )	Contained Gold m. ounces
	A	B	C ( A x B )	D	E ( C X D / 31 )
Keats Main	85574	5250 tons / meter	450	0.67	9.7
Keats North	26920	5250 tons / meter	141	0.22	1.0
Keats South	30494	5250 tons / meter	160	0.14	0.7
Keats West	30774	5250 tons / meter	162	0.53	2.8
K2	27741	5250 tons / meter	146	0.36	1.7
Lotto	24238	5250 tons / meter	127	0.36	1.5
Lotto North	26252	5250 tons / meter	138	0.12	0.5
Iceberg	33642	5250 tons / meter	176	0.69	3.9
Iceberg East	21251	5250tons / meter	112	0.23	0.8
golden Joint	29429	5250tons / meter	155	0.34	1.7

Total	336315		1767	0.44	25
V Lake	4290000	5250 tons / meter	2250

I use Marathons V Lake 3 open pit statistics as derived from the 2022 FS.

From such information , I computed contained volumes of ore within each pit using FS stated dimensions times SG = 2.84 tons per cu meters.

Knowing the ore volumes within each pit and their contained ounces within all categories ( every ounce in the pit ie no cutoff = uncut ), I computed their uncut grade in grams per ton .

Knowing the number of meters drilled within all pits combined ( 429,000 meters ) I computed the average number of tons drilled per meter drilled in the V Lake FS ( 2250 m / 429,000 = 5250 tons per meter drilled ).

These statistics and their derivation are shown in the first Table below and the last row of the second table .

In the second table, I use the average tonnage drilled per meter drilled from V Lake FS ( 5250 tons / meter ) to estimate the tonnage drilled in each of the selected discoveries based on reported meters drilled in each discovery.

These data are from the 2024 FS along with the average uncut grades in each of those discoveries including ALL BLANKS .

From such statistics, elementary computations enable the estimation of ounces of contained gold within each QWN discovery.

All of these mining statistics used as input parameters are very hard ..... ie highly sampled and independently reported .

Combined, these integrated calculations arrive at 25 million ounces contained within only a portion of the drilled strike of QWN , above 300 meters .

I view these estimates, within 1 sigma standard deviation ( approx + - 5000 ounces ) , to be easily defensible against critical review .

Based on my alternative analyses, I arrive at the same conclusion that QWN above 300 m contains at least 20 million ounces of gold

FFS, find yourself a competent geologist to challenge this estimates .......its your money

V Lake Pit Mine	Size ( L x W x D ) in M	Pit ore Volume ( m tons )	Pit Contained Gold ( m ounces ) FS	uncut grade ( gms/ton )
	A	B = LWD x 2.84 )	C	D = C x 31 / B
Marathon	1250 x 650 x 300	692	2.3	0.10
Leprachon	1000 x 700 x 300	588	1.4	0.07
Berry	1900 x 600 x 300	970	1.4	0.05
total		2250	5.1	0.07

Prospect	Drilled Meters	Volume Conversion factor	Volume Sampled mil tons	Uncut grade ( gms/ton )	Contained Gold m. ounces
	A	B	C ( A x B )	D	E ( C X D / 31 )
Keats Main	85574	5250 tons / meter	450	0.67	9.7
Keats North	26920	5250 tons / meter	141	0.22	1.0
Keats South	30494	5250 tons / meter	160	0.14	0.7
Keats West	30774	5250 tons / meter	162	0.53	2.8
K2	27741	5250 tons / meter	146	0.36	1.7
Lotto	24238	5250 tons / meter	127	0.36	1.5
Lotto North	26252	5250 tons / meter	138	0.12	0.5
Iceberg	33642	5250 tons / meter	176	0.69	3.9
Iceberg East	21251	5250tons / meter	112	0.23	0.8
golden Joint	29429	5250tons / meter	155	0.34	1.7

Total	336315		1767	0.44	25
V Lake	4290000	5250 tons / meter	2250