New Found Gold Corp V.NFG

Fosterville, a mere Junior to Queensland

[nozzpack]

https://www.amcconsultants.com/experience/kirkland-lake-fosterville-gold-mine

[nozzpack]

9.5 km of strike already identified compared to 12 km for Fosterville over a 50 year . New Found consolidated landholdings over a 110km segment of this structure.   These gold deposits have their source lodes down to 4 km with grades increasing at depth.......Queensway barely below 200 m. New discoveries almost every month with grades that occur with such frequency as to seem unreal

[Dixiedee]

  totally agree 

[nozzpack]

Kibaldi in the DRC might be a better proxy. They just keep going deeper to more than a km ,yet still finding more surface deposits. But, the astounding grades at variable depths but greater at depth, the frequency of new high grade discoveries , their spatial extent yet much barely scratched  and so much yet to be drilled and lodes of higher grades extending below 1 km. Much more

[Retiredgeo]

The Kibali Gold mine in the DRC is a greenstone belt "orogenic" gold deposit.  Such deposits have nothing to do with modern orogenic gold deposits such as Queensway and are some 2 billion years older.  In such deposits grade has been known to increase with depth.  In modern orogenic deposits there is no such relationship.  Gold precipitation at Queensway was probably

[NosePackd]

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[nozzpack]

Thank you for that clarification . This mineralized envelope now covers an area spanning 4.1km in strike length by 400m wide. Depth easily 400 m. SG of 2.75 tons per cu m. Assume waste ore of 90% and 20 grams per ton . Very rough  ounces at this early stage but gives some infield estimates of current mensurated  potential .

[Retiredgeo]

With the exception of Keats West and now K2 these Queensway gold deposits fall into the classification of "narrow vein deposits".  Such deposits are exploited mostly by underground methods, not by open pit.  If you try to open pit the entire mineralized envelope your waste rock would sail to 99.99%.  I foresee a mill on site, several shafts up and down the AFZ and

[nozzpack]

  Thank you. I was referring to underground open stoping techniques for the underground resources , with say 10% dilution of these veins, not the shallower  open pit Opportunitues . Just curious if anyone has ball parked an estimate within the current envelope .  

[Retiredgeo]

Back in 2021 a BMO analyst calculated 1 million ozs in the central dilation of the KMZ.  That is the only formal calculation which I am aware of.  I will estimate 2-3 million ozs at the KMZ, 1 million at Keats North and 1-2 million at Lotto/Lotto North with an unknown quantity scattered elsewhere.  A very conservative estimate is 5 million ozs down to 400 m which will translate into

[Dixiedee]

Would not a substantial amount of gold in those deposits be recovered from trenching there seems to be a lot of gold from surface to 30 m 

[30MeterBoom]

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[Retiredgeo]

A few hundred thousand ozs can be recovered by surface trenching.  Tens of millions of ozs can be recovered by underground mining.  A few hundred thousand ozs translates into a few hundreds of million of dollars profit for NFG.  That money can be used for exploration and deveopment of thee mine.  It's all about starting small and slowly building up production.

[megacopper]

  Just curious why you would think it goes deeper on the west side of the fault rather than the east side? What is your reasoning geologically?

[Retiredgeo]

These orogenic gold bearing quartz veins form a similar pattern to that of a maple tree.  You can think of the trunk as being the AFZ.  The big branches are the second order faults (Keats-Baseline etc).  The smaller braches are the third and fourth order faults and the leaves are the disseminated refractory gold/alteration halo.  We are missing the refractory gold on the east

[Gangsterme]

You should be teaching geology at a University, you make it easy to understand.

[megacopper]

  Thanks for the excellent detailed explanation rediredgeo. That makes total sense to me. Best explanation yet of this system. Well done sir!!! Quinton Hennigh would be proud of you. He should use that explanation in his next presentation on New Found Gold. I always wondered why there was such a difference on each side of the fault. 

[Retiredgeo]

Without referring to the west side of the AFZ, QH started discussing all of this in Crescat 02 and with specific respect to NFG in Crescat 05.  It's been around for decades.  I can't take credit for any of it.

[megacopper]

  Well it is definitely the best explanation I've heard yet even if you can't take credit for it. Thanks again 

[TheGreekGoldGuy]

Very interesting explanation for NFG's Geology. Hopefully we will soon learn from the Seismic Survey how NFG's enormous discovery at Queensway North is connected. The GGG would guess it's more likely to be a Maple Tree forest with numerous large trunks branching out. We already that about 100 km south, NFG has had some good intercepts at Queensway South. The GGG doubts that is from the

[Lemmy1]

very nice, you write Rex Murphy