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 > First Monetization Project …Keats Trench

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Post by nozzpackon Dec 18, 2024 11:56am

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Post# 36368159

First Monetization Project …Keats Trench

Combined, Phase 1 and phase 2 Channel samples averaged 2 ounces per ton.

Concentration ratio ( proportion of drilled rock containing economic ore ) is 11 %

PROJECT.......FS by Boot strapping KT to 25 meters.

KT is 200 m long, 70 m wide .
Depth mined is 25 meters
SG is 2,85 tons per cu meter .
1 ounce= 31 grams

We have...200 X 70. X 25 X 2.84 X 2 Oz X 0.11 = 190,000 ounces of gold

Gross value @$3700 CAD per ounce = $700 million

Divide by 2 to be very conservative = $350 million CAD @95% recovery = $ 335 million

Thats a lot of cash coming into the coffers , making redundant any further equity raises.

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