Dr. Quinton Hennigh Compares New Found’s NFG.V Queensway Project to Kirkland Lake’s Fosterville Mine
Over the weekend, Dr. Quinton Hennigh recorded the video linked below to explain the genesis of an epizonal gold deposit. At the time Kirkland Lake acquired Newmarket and its Fosterville Mine, the Swan Zone at Fosterville was in an early stage of discovery. The epizonal model for high-grade gold emplacement in an orogenic system was not widely understood. Quinton’s recognition that newly intersected high-grade gold in the Swan Zone was epizonal in nature implied to him that the Swan Zone had significant size potential for high-grade gold resources and was the basis for his strong recommendation to Kirkland Lake that they proceed with the acquisition. Following a review of photographs of core from New Found’s Queensway project, Quinton concluded that the high-grade gold mineralization intercepted in New Found’s hole NFGC-19-01 was epizonal in nature – almost identical to what he had observed at Fosterville’s Swan Zone. He concluded that Queensway had the potential for a significant high-grade, near-surface discovery and proceeded to negotiate a $15 million investment by Novo Resources, which he founded and Chair’s, into New Found. Ongoing fieldwork at Queensway has continued to bolster the conclusion that the high-grade gold at Queensway has an epizonal genesis, supporting New Found’s very successful IPO and increase in market valuation post-IPO.
- Novo Resources owns 15M shares of New Found Gold Corp
- Labrador Gold (LAB.V) holds ground on strike from Queensway