New Found Gold Corp V.NFG

New Found Gold Doubles Queensway Drill Program To 400,000 Me

[AwareInvestor]

New Found Gold is evidently putting that fresh capital that was infused by Eric Sprott to work. The company this morning had a major announcement in that it has doubled the size of its ongoing exploration program at its Queensway project in Newfoundland.

https://thedeepdive.ca/new-found-gold-doubles-queensway-drill-program-to-400000-metres/

[megacopper]

  Awesome news!!! Obviously the guys like what they are seeing in the drill core. More mind blowing intersections coming for Christmas. For Eric Sprott to make such a large investment in NFG and they are increasing the drill rigs and doubling the drill program their confidence is high that they will find more high grade zones. Go NFG!!!

[BlueChipper2020]

This is terrific news today and very meaningful. I treat NFG as a core holding and not the typical junior gold play. This is a simple story at this point. They are going to continue to drill and find more zones in the north of Queensway and also start drilling targets in the massive south are. The drilling will increase the in-situ value (implied in situ value even without a 43-101) and this stock

[likeike]

Nice to hear from you BC. This step up in drilling has nothing to do with ES raise last week. We are fully funded even without it. Clearly said in news release do not give credence to guys that say  different Mega. We have now clearly shown how confident the management is in how large this  regional play is. The market is speaking right now and so far has shown this may have become

[BlueChipper2020]

Good points Ike. I am going to go out on a limb a bit and say they have secured, for the most part, the additional rigs. Yes, there were delays on the original 10, however by and large they made that happen. I do not think they are going to say 14 rigs without having done their DD considering all of us and the entire junior space knows about the shortage of rigs and skilled labour.  BC

[toller1]

I posted both the additional drill program and more rigs awhile back. Now maybe you will pay attention when I have something to add. I am not interested in idle chit chat just good constructive info to do with NFG. By the way they did want more than 14 rigs but my guess is they are having a hard time finding them.

[Delphi008]

Well said BC2020. Like you, I treat this as a core position with one small exception that  involves the 80/20 rule. The 80% represents the core position. It is large and non tradeable. The 20% is in an active trading portfolio where I will play the peaks and valleys. It sits at 20,000 shares at present but will begin feeding stock into the current rally. 

[GoldCasino]

Hopefully, they have cleared a few Queensway South targets by now. Would love to hear that they are planning to move a few rigs into position there. Today's announcement puts them squarely at the top for the most aggressive gold exploration play in Canada(if not all of North America). These boys & gals are not fooling around. Plenty of great news to come!

[megacopper]

    You should see a couple rigs going down there in the new year. They have got a nice camp set up down there and you can drive right to it but it's a long drive. They have got lots of targets right along the Appleton and JBP Faults. It's an absolutely incredible gold system. But it will take a lot of drilling. It wouldn't surprise me if they even decide to increase

[likeike]

Mega Mega you bring up too many points to respond in just one post. The hill shall remain Blueberry Hill until we find our thrills....our hit better be a good one for a name change. Monster status is required to become a Godzilla Hill. I think the company mite want to call it Blueberry Dome Hill? Maybe you should put your own sign out there and send a pic and I will relent to you wishes good

[diabase1]

Ike, you are starting to become a good poet in your old age!!

[wajac]

Excellent report, maggacopper. You've covered all the bases. On the availability of drill riggs I noticed that the Major Drilling sign at the entrance to NFLD's  Jonathan's Pond drill site off Gander Bay Road has been removed.. It seems that they have finished that program for now. These drills may be available to NFG if NFLD released them. And yeah, after all the rain the woods

[likeike]

As always you remain the MAN Mega. All this talk about mud has me a little perplexed. Is it more feasible to drill on frozen mud pitts? I know you have only mentioned how bad it was on Knob Hill and possibly led to them leaving the area. Maybe NFG could open up one of the office venues to open up a bar called the  Mud Pitt and they could entertain mud wrestling with girls?  More

[BlueChipper2020]

Mega, thanks for this great summary.  BC

[Bangor]

We have a market cap of 1.7 bn how far do you think we can go without a ni43-101 just curious if anyone has any ideas

[Retiredgeo]

If you go to the website then click on Investors the ni43-101 is already there.  It has been there for a long time now.

[Global1966]

My version is a couple of blank pages. But you are right it's there

[goldanalyst]

In my estimation this will be proven to be at least as valuable as KL within 5 years KL has a MC of $15B. I think we are a 10X from here

[megacopper]

  Yes I agree. A lot has to fall into place but with this property and the team NFG has put in place and they have proven they can raise big bucks so yes it is possible for New Found Gold to achieve a $10 to $15 billion market cap. I would agree with that statement. It won't happen overnight but they could make it happen in a 3 to 5 year timeframe with a price target of $50 to $100