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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 shiftyoneon Nov 24, 2024 7:38pm
59 Views
Post# 36328289

I'm going to try and dumb it down for me.

I'm going to try and dumb it down for me.Please let me know if I am going in the wrong direction.  I did read the 2022 Crux report.  And I really am learning I hope.
This i where I am today.

If a company drills two holes that have superior results. Holes A and B.  But those holes are 200 feet apart.  They have no way of knowing if the gold is continuous between those holes.  They need to do infill drilling to make it more likely that the two holes are connected.

If there is not infill drilling, then you can't assume that they are connected.  Depending on the distance it could not even be inferred resources.

Now if they put a few holes between holes A and B.  If those turn up to have low amounts of gold, then there is a good chance those holes may not be connected and be separate veins.

If they put a few holes between A and B, and there is good drill results, then maybe you might think that they could be connected, part of a bigger gold area.

Since Crux put out the report in 2022.  ( it did have some validity in that continuity was not proven).  will they change their opinion now that there is so much more data available?

There is twice the drilling done since then.  That report brought up some interesting ideas, but the drill is the truth teller.  What do they have to say now?


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