New Found Gold Corp V.NFG

Ratio of Reserves to Resources in 2025 MRE

[nozzpack]

A very coarse estimate can be obtained from comparision with Valentine Lake.

Based on 428,000 meters, V Lake pits contained 2.7 million ounces of Reserves out of 5 milliin ounces 
of gold Resources.

About 55% Reserves.

QWN has 550,000 meters already drilled above 300 meters, using a drill with a much larger drill bore than used for V Lake.

Lets ignore the enhanced drilling capacity of the QWN drills for now.

The area drilled across those three pits at V Lake is about the same as the area from Keats to Golden Bullett.
This area encompasses most of the 550,000 meters drilled.

Both areas depth drilled is the same ..shallower than 300 meters.

So, based on relative drill sampling rates , the QWN shallow MRE should be comprised of at least 55 % Reserve quality gold resources......and could be signifucantly more.

BTW, my estimated 1.1 million ounces below Keats Trench would qualify as Reserves..
GLTA

[nozzpack]

I also did a quick review of the GBR MRE technical report....see extract below,,   So, Approx 40% of the MRE was comprised of Reserves ( 2.7 / 6,6 ) . A total of 819,000 meters were drilled but an unknown number of those meters were drilled outside the optimized mining zones. I assume that all 819,000 meters were used in estimating the MRE Like Most FS reports, the area of the