New Found Gold (TSX: NFG) continues to intersect high grade intercepts at its recently discovered Iceberg zone, which is found 300 metres to the northeast of the firms Keats Main zone. The zone was previously identified following three drill holes that were released early last month.
Highlights from the results released today include:
- NFGC-23-1128: 12.62 g/t gold over 7.60 metres from 61.60 metres
- NFGC-23-1128: 13.09 g/t gold over 13.90 metres from 82.10 metres
- NFGC-23-1141: 6.88 g/t gold over 20.35 metres from 109.25 metres
- NFGC-23-1141: 35.58 g/t gold over 10.65 metres from 149.50 metres
- NFGC-23-1141: 10.47 g/t gold over 6.65 metres from 205.35 metres
The two holes released today are said to be 25 metre and 50 metre step-downs from hole NFGC-23-1120, which encountered 49.7 g/t gold over 29.85 metres among other results.
Mineralization at Iceberg is said to now have been defined over 50 metres of strike, and has been traced over 80 metres down-dip with mineralization remaining wide open along strike and to depth. Drilling at the target is said to be ongoing.
“Open in all directions, Iceberg continues to deliver encouraging results, demonstrates good continuity of the high-grade and exhibits characteristics akin to the Keats Main zone reaffirming our interpretation that this new discovery is indeed the eastern continuation. This discovery is of particular importance because it confirms that the Keats-Baseline Fault persists over a strike length of at least 1.4km extending from the AFZ in an east-northeast direction,” commented New Found Gold COO Greg Matheson.
New Found Gold last traded at $6.92 on the TSX Venture.
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