New Found Gold Corp V.NFG

Comparison of Mining and Population Estimates ..10 Prospects

[nozzpack]

Yesterday I used the gram meter model to estimate the population ounces and grades contained within the top 10 QWN prospects ( here consolidated into 8 ) above 300 m of depth.

Today, in the table below , i have estimated the ounces above a cutoff of 1 gram per ton as the potential ounces that can be Mined from these top prospects. above 300 m of depth .

Potential in the sense that these ounces in the table below would be in the Measured, Indicated and Inferred 43-101 categories not all of which might make it into Reserves Category upon definition drilling.

I have estimated Reserves separately in a previous table to be about 14 m ounces .

Note that on average , only about 4 % of the mineable drilled tonnage within these 10 prospects  is above 1 gram per ton.

The last two rows show the estimated ounces within ALL of  the drilled volumes ( population )  and those ounces which on average ( 4 % of drilled  ) are above 1 gram  per ton ( Mineable ).

I have also estimated these ounces using the proxy method  and they are very consistent  in showing  above 15 million ounces above 300 meters in just this 4.1  km of drilled mineralized strike, of the 9.1 km of known but gapped in drilled  strike .

In short, excluding whatever might be defined below 300 m to 2500 m currently being drilled  , we have a massive gold discovery on our hands just in the shallow depths amenable to open pit mining .

Its why CK is going to mine QWN in the absence of an extraoridinary offer many multiples above the current share price.

AIMHO

All comments are welcome
GLTA 

PROSPECT	Core Samples ( meters )	Tonnage ( m tons (	Per cent > 1 gram	Average grade gms/ton	Contained Gold Ounces (m )
Golden  Joint	27078	121	1.53	19.7	1.2
Iceberg+ Ice East	52978	226	3.6	18.9	5.0
K2	27670	114	6.3	4.7	1.3
Keats M =	85574	350	3.4	14.5	5.7
Keats South	30494	125	1.5	6.8	0.4
Keats North	24146	110	2.5	6.2	0.6
Keats West	29882	126	7.9	5.8	1.9
Lotto + Lotto N	41117	206	2.3	11.0	1.7
Mining	319839	1378	4.0	11.0	17.8
Population	319839	1378	100	0.47	19.3

[Lemmy1]

That is a excellent post. Thank you for this. NFG is on the way to big things. Hold on and enjoy the ride!

[DanWarren]

Yes, Nozz. I hope this is the outcome NFG is going to pursue. There appears to be a great future for NFG as a company, IF they retain as close to 100% ownership of Queensway as psoosible. Maybe a small % Buy In from some Big Gokd firm might be acceptable, but, I have to think BOOTSTRAPPING NFG into startup production using Maritime makes the most sense. By doing this, NFG starts production at