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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 nozzpackon Nov 28, 2024 4:15am
81 Views
Post# 36335045

Adjusting drill angle corrects grade but under estimates Oz

Adjusting drill angle corrects grade but under estimates OzThe logic is simple.

For QWN, the arbitrary cut off is 1 gram per ton which, applied to raw unadjusted assay grades , eliminates too many ounces as the actual cutoff is above 1 Gram per ton .

That is, as applied to my estimated ounces for Iceberg Trench , actual drill angle adjusted grade...as you have estimated..is 25,5 grams rather than 31 grams.

This of course means that , Prorata , the unadjusted cutoff , would be 1 gram X 31/ 25.5 =  1.2 grams .

That is , adjusting for drill angle over estimates grades and therefore, as calculated, ounces but also over estimates cutoff grade and therefore , as calculated , under estimates ounces .

The trade off is not actually proportional but roughly so.

That is, my estimated ounces below Iceberg Trench is not unduly biassed by drill angle adjustment ..
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