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 Sep 16, 2024 7:09am

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Post# 36225046

Proxy Based Reserves for QWN Top Prospects

Another in a series of Gram-Meters estimates of top QWN prospects above 300 meters, based on Valentine Lake and Goldboro Feasability Studies.

QWN Reserves grades have a cutoff of 1 gram .

Estimates are near identical but actual statistcal variances would perhaps be in the + or - 20 % or so.

Divide by 2 to be ultra conssrvative and estimated QWN Reserves would still be in the 7 million ounce range .

This would support shallow production above 300 meters of 300,000 ounces per year for over 20 years.

Divide by 2 more to be miserably consevative and its 300,000 ounces per year for 10 years.

The gram-meter simple model is the next best thing to FS estimates and has performed well in cross proxy estimates of FS estimates.

GLTA

Asset	Reserves Ounces	Grade ( Gms/ton )	Meters Drilled	Reserve Ounces per meter Drilled	Keats+ Reserves Adj for Meters drilled ( M Oz )	Keats + Reserves Adjusted for Grade )(M Oz )
	A	B	C	D = A /C	E= D X 336,000	F= D X 11/ B
Valentine Lake	2700000	1.6	429000	6.3	2.1	14.4

Goldboro	1150000	2.3	123,000	9.3	3.1	14.8

Keats +		11	336,000