In the end, the only thing that's going to matter re. Moosehead is whether there's an existing gold mining company out there that believes Moosehead can be mined profitably with a good margin of safety, a long enough life of mine, and solid annual production to make building a mining operation there worthwhile.
Potential suitors will either:
1) Look to SIC's database of assay results and take a chance on it by buying Moosehead / SIC and doing further drilling and assaying themselves (like K did with GBR).
2) Insist SIC conduct one or more of a Preliminary Economic Assessment / Pre-Feasibility Study / Feasibility Study to get a clearer picture of the likely economics of the project before making a decision on purchasing the project or company.
3) Pass on it.
In my view, when drilling an orogenic property, you need lots of cores with big grades and metal factors (gxm) where the drilling is closely spaced together which, along with other factors such as location, existing infrastructure, lay of the land, etc., determines whether to put the project in the "profitably mineable" category.
NFG looks to be in much better shape than SIC to date, but more drilling needs to be done by NFG to provide a clearer picture of what they have in the various zones of current interest. However, my hunch is Queensway will become a lucrative mining property given what I've seen so far just at Queensway North.
Pure Gold Mining (PGM)'s orogenic gold system produced numerous cores with grades over 50 g/t Au, including a few in triple digits (108.5 126.6 133.4) along with one at a mind-blowing 1,147 g/t Au. PGM is currently in creditor protection under the federal Companies’ Creditors Arrangement Act (CCAA) and may come out of CCAA proceedings with its common shares being worthless. I think the reason for its downfall was because they didn't do enough closely-spaced drilling to discover what if anything was in between the holes they had drilled in their orogenic system before building the "PureGold Mine" at Red Lake.