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Bullboard - Stock Discussion Forum New Found Gold Corp V.NFG

Alternate Symbol(s):  NFGC

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... see more

TSXV:NFG - Post Discussion

New Found Gold Corp > Channel Sampling , Drilling and Bulk Sampling of coarse vein
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Post by nozzpack on Aug 27, 2024 9:33am

Channel Sampling , Drilling and Bulk Sampling of coarse vein

In many vein-gold systems grade complexity is created by the erratic, localized occurrence of coarse gold.

Economic grades are generally contained within discrete ore shoots that are surrounded by barren to low-grade material.

High-grade regions are generally erratic and have little spatial continuity, but the distribution of a few grains of gold may make a resource o block economic.

The presence of coarse gold makes sampling and assaying of this style of mineralization especially challenging based on drill data alone.

Hence the need for high density surface panel sampling of Keats Trench.

It is not uncommon that Comparisons between surface and underground  drilling, panel sampling and bulk sampling indicate that drilling and panel samples generally understate bulk-sample grades.


 These findings, though not unexpected, demonstrate the importance of bulk sampling in the grade evaluation process for coarse gold-bearing veins.

It will be very interesting to see these results and their 2D comparison with surface drill grades across Keats Trench

 


But, while diamond  drilling provides an effective measure of geological continuity, grade distribution can be assessed reliably only from bulk sampling of the entire defined resource to be mined .

Thats why, in my opinion, NFG will be forced to undertake bulk sampling of its initial deposits to be mined.

No major would consider buying in the absence of such demonstrable economics ..

Comment by nozzpack on Aug 28, 2024 1:52pm
Too many indicators that production here will not be until NFG builds its own mine and mill at QWN. We are talking about 2030 if that is the case . Who here would wait til then while inflation , massive equity dilution ,and time places your investment at risk. It won't be ES who is now over 80. An MRE will be needed to get funding and that ain't close without a bulk sample No ...more  
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