Admittedly I have not been following Bob Moriarty that long (Rick introduced me a few months back), but I’ve never seen the guy smile or be so jocular or self-deprecating as he was with this cute blonde, Michelle Holiday:
If you can cut through some of the bravado, there’s some good information there.
Kairos Minerals Annual Report is now posted.
Anyone still into the “other” Pilbara plays? I’ve mostly been preoccupied with Novo, Karora and Artemis lately. Artemis is really beginning to show promise after being largely dormant for so long. I moved some ARTTF shares I bought much earlier from my IRA to a ROTH account as I expect it will do quite well these next few years in the PM and commodity bull market that is just beginning. I’ll post a chart on the Charts for Metals and Stocks thread to see what it looks like and compare to the two I post here. I mentioned what happened with my De Grey position. I had sold nearly 90% before I decided to keep my remaining free shares. Charts didn’t do the DD legwork needed to see what I was actually taking a profit on. My remaining position I bought for a nickel is up 15X in a year! I’ve finally taken a position in Kairos, even though it is up 800-900% in the last 6 months or about 2000% in a year. Will it go up to a dollar in a year or two? I don’t know. Call it FOMO, but traditional charts didn’t help much with De Grey. Will things repeat with Kairos? Chart says it will likely pull back, at which point I will add incrementally.
The weekly 1 year chart on DEG looks like this:
The Chairman’s report in the 1st few pages of the 2020 annual report made me decide to finally take a position. After not looking at Kairos since April of this year, the report is worth reading if you have not kept up with Kairos.
https://www.kairosminerals.com.au/wp-content/uploads/2020/09/Annual-Report-to-shareholders.pdf
NOVO RESOURCES
Recently, QH did a short 11 1/2 minute overview of the forthcoming Novo projects for anyone who might not be following this company closely. I moved a few shares into my ROTH account as I expect NVO will be multiples of today’s price in a few short years.
Karora Generates Strong Third Quarter Free Cash Flow With Gold Production of 24,717 Ounces Boosting Quarter End Cash Balance by 34% to $67 Million
TORONTO, October 14, 2020 – Karora Resources Inc. (TSX: KRR) (“Karora” or the “Corporation") is pleased to announce another strong quarter, with consolidated gold production of 24,717 gold ounces during Q3 2020 from its Beta Hunt and Higginsville mines in Western Australia. Gold sales for the quarter were 22,912 ounces. The difference in ounces sold vs. produced was due to timing of gold deliveries to the Perth Mint.
Karora’s consolidated cash balance increased to $67.3 million as at September 30, 2020, a 34% increase from $50.2 million on June 30, 2020.
Paul Andre Huet, Chairman & CEO, commented: "I am extremely pleased with our solid progress during the third quarter both operationally and on the corporate level. Our operations continued the now well-established trend of consistent and reliable gold production against the backdrop of the challenges we have all faced associated with the prudent precautions in place during the COVID-19 pandemic. This is now our fifth straight quarter of strong gold production results since acquiring Higginsville in June of 2019. These results are a testament to the dedication and talent of our operations team.
Production for the first three quarters of 2020 was 73,612 ounces, which is in line with our 2020 gold production guidance of 90,000-95,000 ounces and AISC1 of US$1,050-$1,200 per ounce sold.
Most importantly we continue to add significant cash to our balance sheet, with $17 million added to our cash position during the quarter, bringing our total to $67.3 million in cash as of September 30, 2020.
On the corporate side, we completed a number of important milestones during the quarter that position us well to continue our positive momentum going forward. We completed a 4.5 to 1 share consolidation, closed the Maverix Metals transaction to reduce the Beta Hunt gold royalty by 37%, closed the acquisition of the Spargos Reward High-Grade Gold Project, announced new gold and nickel discoveries at the Beta Hunt Mine and, on the back of ongoing drilling success at Higginsville and Beta Hunt, increased our 2020 exploration budget across our Western Australia operations by 50% to A$15 million.
We remain confident that we will reach our target of reducing AISC cost to US$1,000 per ounce by the end of 2020, despite the cost and disruption associated with the temporary measures we’ve put in place to mitigate the risks of the COVID-19 pandemic and the highly competitive market for mining talent and services in Western Australia.
Overall, I could not be happier with both the corporate transformation and operational turnaround we have executed this year. Heading into the final quarter with an aggressive drilling program backed by strong free cash flow generating assets has us excited to deliver on our remaining internal targets.”
About Karora Resources
Karora is focused on growing gold production and reducing costs at its integrated Beta Hunt Gold Mine and Higginsville Gold Operations (“HGO”) in Western Australia. The Higginsville treatment facility is a low-cost 1.4 Mtpa processing plant which is fed at capacity from Karora’s underground Beta Hunt mine and open pit Higginsville mine. At Beta Hunt, a robust gold mineral resource and reserve is hosted in multiple gold shears, with gold intersections along a 4 km strike length remaining open in multiple directions. HGO has a substantial historical gold resource and highly prospective land package totaling approximately 1,800 square kilometers. Karora has a strong Board and management team focused on delivering shareholder value. Karora’s common shares trade on the TSX under the symbol KRR. Karora shares also trade on the OTCQX market under the symbol KRRGF.
Cautionary Statement Concerning Forward-Looking Statements
This news release contains “forward-looking information” including without limitation statements relating to the potential of the Beta Hunt Mine, Higginsville Gold Operation and Spargos Reward Gold Project.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of Karora to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could affect the outcome include, among others: future prices and the supply of metals; the results of drilling; inability to raise the money necessary to incur the expenditures required to retain and advance the properties; environmental liabilities (known and unknown); general business, economic, competitive, political and social uncertainties; results of exploration programs; accidents, labour disputes and other risks of the mining industry; political instability, terrorism, insurrection or war; or delays in obtaining governmental approvals, projected cash operating costs, failure to obtain regulatory or shareholder approvals. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward- looking statements, refer to Karora 's filings with Canadian securities regulators, including the most recent Annual Information Form, available on SEDAR at www.sedar.com.
Although Karora has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this news release and Karora disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.
Cautionary Statement Regarding the Higginsville Mining Operations
A production decision at the Higginsville gold operations was made by previous operators of the mine, prior to the completion of the acquisition of the Higginsville gold operations by Karora and Karora made a decision to continue production subsequent to the acquisition. This decision by Karora to continue production and, to the knowledge of Karora, the prior production decision were not based on a feasibility study of mineral reserves, demonstrating economic and technical viability, and, as a result, there may be an increased uncertainty of achieving any particular level of recovery of minerals or the cost of such recovery, which include increased risks associated with developing a commercially mineable deposit. Historically, such projects have a much higher risk
2
of economic and technical failure. There is no guarantee that anticipated production costs will be achieved. Failure to achieve the anticipated production costs would have a material adverse impact on the Corporation’s cash flow and future profitability. Readers are cautioned that there is increased uncertainty and higher risk of economic and technical failure associated with such production decisions.
For more information, please contact:
Rob Buchanan
Director, Investor Relations T: (416) 363-0649 www.karoraresources.com
I posted this on the other site :
A couple of points… regarding ARV. I don’t give Carlow Castle much credence, may or may not hit some deep assays. I don’t think it will do anything for the price for quite a while.
Like you I started investing in ARV a while back when it was at $0.126. Total buying since in 3 accounts : ARTTF U$0.143 C$0.184 = -$2,158
ARTTF U$0.0637 C$0.084 = +$4,371
ARTTF U$0.058 C$0.078 = + $4,098
Thankfully the 2 later investments are now up after a long wait. I really wanted to add some share when they first acquired pptys near the Havieron properties on July 16, 2019 when the stock was U$0.02, but alas lack of funds and/or commitment.
“Artemis Resources has acquired Rincon Resources and its South Telfer project, which lies 12 kilometres from Newcrest Mining’s Telfer mine in the Pilbara, Western Australia.
The move comes as Artemis looks to expand its holdings within the highly prospective Paterson Province, taking its total land ownership in the region to 1140 square kilometres.
Artemis is now one of the largest landholders in the Paterson Province, a region which has seen Rio Tinto’s recent gold and copper Winu development as well as Greatland Gold and Newcrest’s Havieron discovery.”
Havieron is an amazing drill site. How many pptys have these kind of assays ?
121m at 2.93g/t Au** and 0.23% Cu
HAD039: 86.6m @ 2.8g/t Au, 0.37% Cu from 693m
HAD039W2: 148m @ 2.7g/t Au, 0.45% Cu from 668m
HAD052: 234m @ 1.7g/t Au, 0.29% Cu from 563m
HAD044: 83.3m @ 5.0g/t Au, 1.1% Cu from 489.5m
HAD049: 82m @ 6.1g/t Au, 0.41% Cu from 461m
etc…
If ARV hits 1 very good intercept out of the 5 they are drilling, this stock will start to move like DEG did initially.
More than 1 very good intercept and it could start following DEG’s rise.
This is one stock that I think will be a bagger if that happens. From $0.10 easily to $0.25 to $0.40.
https://artemisresources.com.au/our-projects/major-projects/278-armada
Happy investing,
Rod
PS : you should start investing in the options we talked about.
Curious if anyone is following New Found Gold (NFG.V, NFGFF). Novo Resources is actually invested in the company, as is Rob McEwen and Eric Sprott. Quinton Hennigh assessed the company’s promising Queensway epizonal gold prospect and concluded that the drill results to date compared favorably to Kirkland Lake’s Fosterville miine…a high compliment and tall order IMO. That was his impetus for getting Novo Resources involved as an investor.
Anyway, NFG has been running really well over the past few months and just yesterday they announced really impressive (shallow depth) gold hits:
Here is a really bullish editorial from Bob Moriarty today:
Here is a summary of the company’s potential from Hedgeless Horseman:
Part of me is torn on this one because I try to only buy on pullbacks, but they are in the middle of a 100,000 meter drill program and results just came in. I’m thinking it may run like DeGrey did when it hit the Hemi zone and was releasing results that further defined and confirmed the size and mineralization of the deposit.
I took a starter plunge in NFGFF yesterday at $2.77 which was close to the HOD. I didn’t like the price I got and it goes against all (well most) of my rules for investing, but the stock has some serious momentum right now, it seems like investors are starting to pile on as there is a (warranted) pump, and I’m playing it for the drill results of their 100K meter program over the next 6 months. Even if the stock drops some on this leg up, I think the only thing that would slow down its ascent in the short term would be poor drill results and/or a collapse of POG.
Fortunately it gapped up today to around $3.00 and the b/a is currently $3.30 x $4.05 (not sure how accurate that is for a dual-listed company).
Note that American Sierra Gold continues to make filings:
https://www.otcmarkets.com/stock/AMNP/disclosure
Maurizio still appears to want to do something with it.
Well, Karora just might have to avail itself of the sorting and gamma ray technology that Novo Resources is using. After all, Karora is in Western Australia too.
Another incredibly high grade drilling project in Nevada (there are several). This one has both gold and very high grade silver. A longer term play with a very interesting history, especially the Tonapah project. May not want to wait too long before checking it out. I think it may have based from it’s retrace that resulted from it’s preliminary drilling results. This clip is from earlier in the year.
[16:58] - Tonopah Silver District: New project update
NFGFF, nice find Rick. Seems a bit right right now, but I thought that about degray and made some good money there. Any perspective on where it’s headed from here?
Hi Belmont,
NFG is tough to call right now because it does have a rather lofty market cap (C$620 million) for a non-producing, prospective gold junior. But the drill results they’ve hit thus far are very impressive with continuity at fairly shallow depths in what has become an evolving gold district. As I mentioned before, it reminds me of De Grey when they were putting out terrific drill results on a weekly basis it seemed and the stock just kept marching upward.
NFG is in the middle of a 100k meter drill program with assays pending and they have $75 million in the coffers, so even at its somewhat lofty share price, it is well-capitalized and there are plenty of catalysts to look forward to that can move the price higher. So if more of the same results are released, I see the share price going higher.
From a technical standpoint, the chart is ripe to make the next leg up. I thought about buying a little more to play the breakout, but then decided to hold off and see what happens with the next set of drill results. I will probably trade out of my position through the next leg up and then re-assess from there. If it continues to run, I won’t be upset because I’ve only been holding it for a week or so. With De Grey I had been holding it for a couple of years before it eventually made its discovery and run and I sold out way too early just to be happy to break even.
Karora Provides Update on 2020 Drilling Program and Announces New Regional Mining Strategy for Higginsville Area
Highlights:
TORONTO, Nov. 9, 2020 /CNW/ - Karora Resources Inc. (TSX: KRR) (“Karora” or the “Corporation”) is pleased to provide an update on near surface drilling at Aquarius and on planned drilling across the Corporation’s properties during the fourth quarter. Karora is also in the process of completing a new Central Higginsville mining strategy that will be rolled out during the fourth quarter. The strategy will allow Karora to prioritize resource conversion and production scenarios to optimize mill feed blend rates into the Higginsville plant.
At Aquarius, analysis is underway to outline a potentially economic starter pit following a successful near surface drill program that was completed during the third quarter. Recent drilling identified high grade supergene gold mineralization including 43.5 g/t over 3.0 metres and 5.7 g/t over 6.0 metres. Expected cash flow from the proposed starter pit would offset some of the development costs to access the higher grade underground gold mineralization. Development of the Aquarius starter pit could commence as early as mid-2021.
With the increasing number of current and planned production sources from Higginsville, Beta Hunt and Spargos all competing for a share of the feedstock for the 1.4 Mtpa HGO treatment plant, a new regional mining strategy aimed at optimizing mine-to-mill feed is being developed. The new strategy divides Karora’s regional operating and near-term mining areas into four main mining centres:
The aim of the strategy is to achieve the optimum blend of fresh oxide and hard rock material from the four regional centres to feed into the 1.4 Mtpa HGO plant in order to maintain maximum throughput rates and ensure continued strong recoveries. A more comprehensive update of the Higginsville Central mining strategy will be outlined after the announcement of a new reserve and resource estimate expected later in the fourth quarter.
With respect to drilling during the remainder of the year, Karora is well underway with a 50,000 metre drill program across the Western Australian operations to be completed during the fourth quarter. The drill program consists of resource definition drilling aimed at supporting the upcoming reserve and resource update as well as exploration drilling across multiple targets.
Paul Andre Huet, Chairman & CEO, commented: "In September we announced an aggressive 50% increase to our 2020 drilling budget to A$15 million and I am very pleased to announce some of the very strong initial near surface results at Aquarius as well as outline our targeted drilling over the remainder of the fourth quarter. This drilling will focus both on converting resources to reserves in our upcoming maiden company-wide reserve and resource update, our top priority, as well as targeting the exciting new exploration targets we have identified.
With drilling paused due to COVID-19 precautions for several months earlier this year, we are now drilling at an accelerated pace with six drills across Higginsville, Spargos and Beta Hunt. In fact, a large part of our 2020 drilling program is being undertaken in the fourth quarter as a result of these delays. Given the current challenges associated with sourcing both highly skilled workers and equipment in Western Australia, due to COVID-19 and State border closures, I am extremely proud of the resourcefulness of our operations team and their ability to execute on our expanded program. Once again, despite the numerous challenges faced, they continue to deliver on our aggressive corporate targets in our very first year of consistent, strong gold production.
At Higginsville, our Aquarius project has taken an important step forward with new drill results to support the planning of a potentially economic starter pit. The identification of near-surface, supergene style mineralization is expected to provide the opportunity to partially fund a staged approach to development at Aquarius as we continue to fully assess and define the potential of the known historical high grade (19.5 g/t) gold mineralization which forms part of a larger laminated quartz vein system.
The conceptual underground access at Aquarius could also serve as a conduit to accessing the underground potential of the nearby Fairplay project, which is part of our upcoming Central Higginsville mining strategy. We expect to outline more details of this strategy to the market following our resource and reserve update for our Western Australian operations."
Aquarius Project Update
A total of 54 holes, totaling 5,079 metres have been completed at Aquarius. The aim of the drilling was to assess the opportunity of defining significant, near-surface mineralization to support a potential starter pit ahead of accessing the deeper, high grade Aquarius primary mineralization.
Historical intersections from the primary mineralization include drill holes VIND047, 657.9 g/t over 2.3 metres downhole from 181.1 metres (Estimated true width “ETW” of 1.6 metres) and VIND049: 225.2 g/t over 1.9 metres downhole from 201.5 metres (ETW of 1.3 metres) previously reported in Karora news release, dated February 27, 2020 ( karoraresources.com ).
The recent drilling at Aquarius was designed to test the continuity of supergene mineralization above, and adjacent to, the main Aquarius quartz vein as well as extend the near-surface position of the existing historical mineral resource1
Results returned from the drilling show the supergene mineralization to extend over a footprint covering approximately 120 metres by 200 metres (see Figures 1 and 2). The supergene footprint is located east of the main Aquarius vein mineralization within multiple horizons. Drilling was also successful in extending primary mineralization along strike and closer to surface. Highlights from drilling program are listed below:
Primary2.
Supergene2
1… Aquarius is the renamed and previously reported “Corona” deposit. The Corona Historical Mineral Resource consists of - Measured and Indicated 19,600 t @ 19.5 g/t (12,300 oz) and an Inferred 43,100 t @ 4.2 g/t (5,900 oz) - and is part of the Corona (now Aquarius)-Fairplay Historical Mineral Resource (see Karora news release, Feb 7, 2020, karoraresources.com) See Westgold 2018 Annual Update of Mineral Resources & Ore Reserves dated October 2, 2018, which is available to view on the ASX (www.asx.com.au) A qualified person has not done sufficient work on behalf of Karora to classify the historical estimate noted as current mineral resources and Karora is not treating the historical estimates as current mineral resources.
2. Estimated true width
Drilling Update
The increase in the 2020 Karora exploration budget to A$15 million is now reflected in accelerated drilling programs across all Karora’s projects. Planned fourth quarter drilling is expected to total 50,000 metres with 36,000 metres allocated to Higginsville/Spargos and 14,000 metres to Beta Hunt. A total of six drill rigs are currently engaged to meet the expanded drill schedule: two underground rigs at Beta Hunt, two surface RC rigs at Higginsville as well as one lake aircore rig and one lake diamond rig at Higginsville.
An overview of key drilling targets is listed below:
Beta Hunt – 14,000 metres of diamond drilling: Drilling is targeting extensions and upgrading of the existing gold resource as well as extension of the Larkin Zone, A Zone North and Western Flanks South. As demonstrated in Karora’s announcement of the 30C nickel trough discovery (see Karora news release dated September 10, 2020), nickel mineralization is located proximal to the targeted gold shear zones. As such, drilling will also target the 30C, 40C and 50C nickel troughs. Nickel is expected to provide potential by-product credits to future gold mining at Beta Hunt.
Lake Cowan Regional Gravity Targets - 18,000 metres of lake aircore drilling: Drilling is comprised of reconnaissance drilling of 640 by 160 metre spaced lines across regionally prospective shear zones to test priority targets identified from the recently completed regional gravity desktop study.
Higginsville Central – 2,000 metres of diamond drilling: Drilling will include the Vine and Barcelona prospects. The drill program is designed to test and extend primary shear hosted mineralization analogous to the Trident gold deposit and related to near surface mineralization associated with historical drilling.
Spargos Reward – A total of 12,000 metres reverse circulation and 1,000 metres diamond drilling: Infill and extensional drilling designed to support an updated mineral resource and mineral reserve has commenced. Drilling will target the high grade main lode and adjacent interpreted mineralization.
Compliance Statement (JORC 2012 and NI 43-101)
The disclosure of scientific and technical information contained in this news release has been reviewed and approved by Stephen Devlin, FAusIMM, Group Geologist, Karora Resources Inc., a Qualified Person for the purposes of NI 43-101.
Higginsville: All RC drill sampling is conducted by Karora personnel. Samples for gold analysis are shipped to Bureau Veritas Laboratories of Kalgoorlie and Perth for preparation and assaying by 40 gram fire assay analytical method. All drilling samples submitted for assay include Certified Reference Material (“CRM”) and coarse blank every 25th down hole metre. Duplicate samples are taken every 50th metre. The lab is also required to undertake a minimum of 1 in 45 wet screens on pulverised samples to ensure a minimum 90% passing at -75µm.
Where problems have been identified in QA/QC checks, Karora personnel and the Bureau Veritas laboratory staff have actively pursued and corrected the issues as standard procedure.
Thank you.
Just a churning out the cash, nicely dropping costs, yet the price is down
New Found Intercepts 44.5 g/t Au over 6.85m in 60m Step-Out at Keats Zone, Queensway Project, Newfoundland
VANCOUVER, BC, Nov. 16, 2020 /CNW/ - New Found Gold Corp. (" New Found " or the " Company “) (TSXV: NFG) (OTC: NFGFF) is pleased to announce initial results from hole NFGC-20-26 at the Keats Zone (” Keats “), drilled as part of the Company’s ongoing 100,000m diamond drill program at its 100% owned Queensway High-Grade Gold Project (” Queensway "), 15km west of Gander, Newfoundland.
Highlights
An interval of drill core in Hole NFGC-20-26 displaying abundant quartz veining, sulfides and visible gold was assayed on a rush basis returning 44.5 g/t Au over 6.85m within a longer interval of 11.8 g/t Au over 29.15m, starting at 45 m down hole (note that the exact orientation of the veins is uncertain but believed to be steeply dipping thus implying true widths in the 70% to 80% range of reported drill lengths).
The reported interval in NFGC-20-26 is located on fence line 4750N and is approximately 60m south-west of the discovery interval in hole NFGC-19-01 (see Figure 1). Two additional holes have now been completed on fence line 4750N and intervals from these holes have been submitted for assay on a rush basis.
The high-grade interval in NFGC-20-26 displays characteristics suggestive of an epizonal orogenic depositional environment.
The 10 m step out pattern from NFGC-19-01 roughly centered on fence line 4800N is continuing with ten holes additional to those already reported now completed (Figure 1). Intervals from each of these holes have been submitted or are being prepared for submission for assay on a rush basis.
Four holes on fence line 4850N approximately 50m north of NFGC-19-01 have now been completed and intervals from these holes have also been submitted for assay on a rush basis (see Figure 1).
Denis Laviolette President of New Found, stated: “We are delighted to intersect this significant interval of high-grade gold mineralization 60m south of discovery hole NFGC-19-01. Historic work and more recent drilling at Keats have demonstrated gold mineralization over at least 300m of strike and the Keats target remains open in each direction along strike and to depth. We are continuing to drill on grid lines at 50m spacing to the north and south of NFGC-19-01 and anticipate further results from this drilling in the next several weeks. In addition, the closer spaced drilling around NFGC-19-01 is yielding outstanding results and giving us valuable information about the spatial distribution and geometry of the high-grade gold mineralization. Our recent hole at Lotto Zone 2 km north of Keats (41.2 g/t Au over 4.75m and 25.4 g/t Au over 5.15m) has confirmed the potential for multiple high-grade zones along the 5km of the Appleton Fault Zone that will be grid drilled in our current 100,000m program.”
Drill Collar and Interval Summaries
| Hole No. | Azimuth (°) | Dip (°) | Length (m) | UTM E | UTM N |
|---|---|---|---|---|---|
| NFGC-20-26 | 300 | -45 | 269 | 658151 | 5427444 |
| Hole No. | From (m) | To (m) | Interval (m) | Au (g/t) | Zone |
|---|---|---|---|---|---|
| NFGC-20-26 | 44.7 | 73.85 | 29.15 | 11.8 | Keats Main |
| Incl. | 67.0 | 73.85 | 6.85 | 44.5 | |
| Incl. | 73.5 | 73.85 | 0.35 | 824 | |
| NFGC-20-26 | 194.4 | 197.6 | 3.20 | 1.09 | Keats FW |
| NFGC-20-26 | 219.7 | 222.3 | 2.60 | 2.02 | Keats FW |
Table 1. Drill hole collar and interval summaries
QA/QC
True widths of the new exploration intercepts reported in this press release have yet to be determined but are estimated to be 70% to 80% of reported core lengths. Assays are uncut, and calculated intervals are reported over a minimum length of 2 meters using a lower cutoff of 1.0 g/t Au. All HQ split core assays reported were obtained by either whole sample metallic screen/fire assay or standard 30-gram fire-assaying with ICP finish at ALS Minerals in Vancouver, British Columbia. The whole sample metallic screen assay method is selected by the geologist when samples contain coarse gold or any samples displaying gold initial fire assay values greater than 1.0 g/t Au. Drill program design, Quality Assurance/Quality Control and interpretation of results is performed by qualified persons employing a Quality Assurance/Quality Control program consistent with National Instrument 43-101 and industry best practices. Standards and blanks are included with every 20 samples for Quality Assurance/Quality Control purposes by the Company as well as the lab. Approximately 5% of sample pulps are sent to secondary laboratories for check assays.
Qualified Person
The technical content disclosed in this press release was reviewed and approved by Greg Matheson, P.Geo., Chief Operating Officer and a Qualified Person as defined under National Instrument 43-101.
About New Found Gold Corp
New Found holds a 100% interest in the Queensway Project, located 15 km west of Gander, Newfoundland, and just 18 km from Gander International Airport. The project is intersected by the Trans-Canada Highway and has logging roads crosscutting the project, high voltage electric power lines running through the project area, and easy access to a highly skilled workforce. With working capital of approximately C$75 million the Company is well financed for aggressive exploration with an initial planned drill program of 100,000 meters. New Found has a proven capital markets and mining team with major shareholders include Palisades Goldcorp (33%), Eric Sprott (18%), Novo Resources (11%), Rob McEwen (7%), other institutional ownership (8%), and management, directors and insiders (4%). Approximately 65% of the Company’s issued and outstanding shares are subject to escrow or 180-day lock up agreements.
Please see the Company’s website at www.newfoundgold.ca and the Company’s SEDAR profile at www.sedar.com.
The impressive intercepts at shallow depth continue for NFG at their Queensway project. I continue to hold as the 100,000 meter drill program continues with assays requested on a rush basis.
Yes, definitely worth having a very good look at this one! Thanks for posting the new developments here. QH is also involved in this one and explained in a video a few months ago why this may be as big a discovery as Fosterville was for Kirkland Lake. Well worth spending a little time reviewing what QH had to say, IMO.
Also, in HR’s post a couple of weeks ago Rick had a link to Bob Moriarity’s site and a writeup with Robert Sinn. Here’s a graphic we’ve all seen versions of in the past that was presented in an informal interview between Bob and Robert (Goldfinger) recently. I really liked the labels that were placed on it in simplified form. Apologies for not having the link to the video from where the screenshot was taken.
I’d like to think we are in the early awareness/media attention stage of this graph with a a few very profitable years ahead as the modeling pans out. Anyway, the QH video is a very nice comparison of how these two deposits may have been formed in similar ways even though they are thousands of miles apart.
