New Found Gold Corp V.NFG

Any mathematicians on this BB????

[Kewl002]

My question (purely for the fun of it).....

if NFG gained gov't approval for a 10,000 ton bulk sample from a sweet spot of the Keats zone (pick one as there are many) and was able to complete the extaction (open pit?) and have it processed at a local mill (say 95% recovery -- how much gold would be realized from the bulk sample @ $1,800/oz avg?

Would that be sufficient (minus costs of course) to fund 2023 exploration without further share dilution?

Anyone have the skill set to do a back of envelope style calculation?

[braindeadoldguy]

This post has been removed in accordance with Community Policy

[megacopper]

  That would depend on what your average grade is of your bulk sample. Rough calculations can be done in your head with simple multiplication. If you use 1 oz per ton you would get $18 million dollars with 100% recovery. Just multiply by whatever grade you would like and go up from there. If your bulk sample was 10 oz per ton it would be $180 million dollars. You could multiply

[Retiredgeo]

The only near surface assay that we have is 22-593 grading 9.12 g/t.  10,000 tonnes of 9.12 g/t is 91,200 g or 2,932 oz.  Assuming 95% recovery that is 2,785 oz.  Assuming $1800/oz that is $5 million USD gross value. The answer to your question is no.  They need a much sweeter spot than published to date.

[megacopper]

    You aren't very good at picking sweet spots Rediredgeo Lol. Over in my little open pit just north of the Keats Zone I've got almost 10 oz per ton over 2 meters only 22 meters below surface. See below for details. I was standing on top of it just a few days ago. I noticed a big a*s excavator nearby too. I thought about jumping in it and get early start digging up a bulk

[Retiredgeo]

At 2.7 tonnes/metre 10,000 tonnes = 3,703 m3.  That is the equivalent of a 20x20x9.25 m pit.  I'm not sure how you expect to access ore 22 m down?  The only near surface result that we have is 22-593.

[megacopper]

    You don't have excavators and earth movers out where you live? So you don't like that spot. How about this one below only 8.8 meters downhole so that's not very deep. That would be 1.5 oz/t so a 10,000 ton bulk sample would be worth $27 million dollars worth. Sure I could dig that up on a long weekend. Lol   42.6 g/t Au over 11.75m, beginning at 8.8m

[rgvgolf]

Well said mega. You may need two trucks loading at a rate of 7 loads per hour 12 hours per day for 3 days. keeep up the good work of common sense reporting  RGV

[Retiredgeo]

You are misreading the numbers. Hole 22-593 also contains 42.6 g/t over 11.75 m starting at 20.5 m depth. Same problem.  You need to greatly expand the bulk sample to dig a pit that deep.  Your excavator isn't going to make the cut.   Somewhere, they probably have high grade just below their boots but they haven't published such findings yet.

[likeike]

You aren't very good at picking sweet spots Rediredgeo Lol. Over in my little open pit just north of the Keats Zone I've got almost 10 oz per ton over 2 meters only 22 meters below surface. See below for details. I was standing on top of it just a few days ago. I noticed a big a*s excavator nearby too. I thought about jumping in it and get early start digging up a bulk sample for the guys