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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

Post by Gangstermeon Nov 03, 2024 8:36am
159 Views
Post# 36294132

Still discovering the extent

Still discovering the extentManagement is still determined to Devine the extent of the mineralization of this very extensive property. It is still open at depth and in horizontal direction along the faults and has not been proven between many of the occurrences.
It will be years before all of the already discovered veins will be drilled sufficiently to determine their value as a mineable deposit. This is equal to many gold mines in extent. All mines are first open and excavated and as this is done they also continue to prove up additional value. This is done by drilling from the already excavated areas, as they are able to know more or the geological processes that occurred.
Yes, they could sell all or part of the already drilled areas, however the fact of the expenditure for seismic work and purchasing of adjacent property leads me to believe that a sale is not imminent. That being said, a major could be sold a significant number of shares. I am not holding my breath waiting for this to happen. Mining will start at some time in the future and core drilling will still be going on 20 years from today. This likely from underground.
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