New Found Gold Corp V.NFG

Keats and Iceberg Trenches spatially connected ?

[nozzpack]

These two untra high grade trenches, averaging 1 ounce per ton each....( Keats from Channel sampling, Iceberg from the shallow zone right beneath the Trench...see table below ) sit just a few hundred meters displaced from each other

Recall my recent analyses that the Keats Trench , ( measuring 200 m by 70 m wide ) , to 150 meters of depth contained 286,000 ounces at an average grade of 15 grams per ton .....to be conservative , I halved the KT Channel average grades.

Using actual mean grades reported for KT Channel results, estimated ounces would be
about 570,000 ounces

Iceberg Trench is larger by 50% ,.220 m by 105 m...see NR extract below..and the shallow zone below the Iceberg Trench averages above 31 grams per ton.....see extract post below.

So, Iceberg Trench is 50% larger by surface area and its grades just below that trench are about twice those of Keats.

That places the shallow area below the Iceberg Trench to a depth of just 150 meters 
possibly containing  1 millin  ounces averaging 1 ounce per ton.

Combined, these two high grade zones at shallow depths contain over 1.4 million ounces 
averaging 1 ounce per ton.

Management have stated that drill results below these trenches are consistent with 
what is sampled across those trenches.

Recall that these are orogenic deposits , laterally displaced very little from what is sampled at the surface ( "gold is right beneath your feet" in Geologists parlance )

Being spatially separated by just a few hundred meters , it's quite possible that the intervening
zone is also populated by the same high grades.

That is, the shallow area from the South edge of Keats Trench to the North edge of Iceberg Trench could contain up to 2 million ounces at 1 ounce per ton.

This would be a discovery equivalent to the Swan or Eagle zone of Queensway orogenic 
sibling Fosterville .

Except that those FV zones were deep underground while KT and IT are very shallow high grade discoveries within 150 m of the surface and eminiently open pittable.

Indeed, the closeness of these two Trenches makes possible open pit mining by one single
open pit .....sort of a mini version of FV super pit.

My estimates have been done with documented data whose contained ore volumes can be replicated by anybody .
I assume that the assay grades have been professionally conducted.

That is, there is a good dose of estimation reality associated with these estimates.
My usual conservative model is divide the estimate by 2.

This still results in at least 700,000 tons  of shallow open pit gold averaging
1 ounce per ton containing about $2.5 billion cad .

The Pine Cove mill by itself ( excluding the Nuggett Pond mill ) has an annual capacity of 450,000 tons per year,  so this rather modest tonnage of ultra high grade gold could easily be accommodated at an average recovery of 98% .

There are few if any open pit mines averaging 1 ounce per ton now existing in the world.

In summary ...and open to any critical reviews..in just a linear contigous space of 500 meters or so with a width of just 100 meters and depths to 150 meters , QWN probably contains a world class gold resource that , upon being mined, would make us shareholders very wealthy .
 

Xxxxxx
 

Highlights:

 

• The Iceberg surface trenching program will focus on excavating between 1-12 meters of overburden that covers the projection of the Iceberg Zone at the bedrock surface, exposing 220m of strike length over a 105m wide area, which corresponds to a core segment of the surface expression of the Iceberg Zone (Figure 1).
• Excavation of overburden covering the surface of the zone is expected to allow for a detailed analysis of the geological and structural models currently defined through drilling.
• Excavation work is underway and it is estimated that the trench will take 8-10 weeks to complete, followed by a detailed geological mapping program expected to be completed in Q4 2024.
• The Iceberg Zone starts approximately 4m below surface at bedrock and when combined with the Iceberg East segment has been drill defined over 680m of strike length and to a depth of 180m. The shallow portion of Iceberg demonstrates robust grades over significant thicknesses, a hallmark characteristic of the zone. Previously released near surface highlight intervals from the area to be trenched include:

 

 

[unclebobby]

Well Nozz  now that you've  given the low calculations  what would in your opinion  be the best case senero

[nozzpack]

Keats and Iceberg Trenches will form just the first starter open pits which comprise just a very modest proportion of the drill defined strike in excess of 4 km. The whole point of the calculations is to illustrate that these two trenches by themselves can support a $4 billion revenue , and very low cost production cycle lasting at least 15 years @  200,000 ultra high ounces. This, just to

[GoldenOrb]

Nozzpack, what would be your overall whole concession estimate of the combined Queensway & Kingsway (if included) MRE?  Thanks for your indepth honest analysis.

[Margin321]

Thanks for your analysis.  They may also do 1 or 2 trenches in 2025, depending on final budget. Maybe Keats West and/or Lotto. There is just a tremendous advantage to doing a really high grade open pit at surface connecting Keats and Iceberg trenches. There is so much fixed cost to handling a ton of rock (mining it and crushing it and doing other extraction, then handling the tailings). NFGC

[nozzpack]

If you examine the massive gold discovery at the Fosterville mine which catapulted Kirkland Lake by an order of magnitude in market cap, those two high grade zones...Eagle and Swan..had Reserves of 2.7 million ounces averaging 31 grams per ton. Just these two  very small KT and Iceberg Trenches just to 150 metre of depth almost contain as much gold at the same grade as the exalted Swan and

[Evenkeel123]

Excellent Nozz.  So when are you getting the posse together, you know, alll the faithful longjohns, and get a few pickup trucks, picks and shovels, and get to work  mining, hauling it to the mill, processing it, and putting cash in the bank. Woops, don't forget the permits, eh?  Quit dreaming. Happy new year to you all. EK

[GoldenOrb]

It's plainly obvious that you are either a paid skeptic or invested on the short side.  You profess neutrality, yet every post of yours bends toward hypocritical responses flagging nebulous numbers having no foundation to unbiased "truth".  Why are you compelled to write these unfounded, negative posts. The motivations are easily deciphered.  Give us all a break from

[Ragnartrading]

NFGC projects will turn out to be the biggest and most profitable gold mines on Earth. That was pretty obvious to me the moment I started to study their drill results. I personally think many of these "targets" are indeed interconnected and eventually will become 100+ million ounces total. This point was my biggest disagreement with Rick Rule. He obviously is not a geologist or

[Gangsterme]

Not only are you correct in your assumptions, you have not taken into account the serious increase in the price of an ounce of gold but the decrease in mining costs underground  with the use of robotics and Ai to direct the mining. Thus will be an all time winner, forget Kirkland.