It appears that New Found Gold’s (TSXV: NFG) Queensway property in Newfoundland is simply swimming in gold. The company this morning announced that it has found yet another gold mineralization zone on the property.
The latest showing discovered, referred to as “Big Dave,” is located two kilometres north of the Lotto zone, and four kilometres north of Keats. The showing was discovered following field sampling that occurred in the area.
The new area was discovered via two field samples, which measured 1,131.2 g/t gold and 568.2 g/t gold, with the samples being the most northern mineralization found to date, and the first surface samples from this region of the Queensway property. The zone is also along the Appleton Fault, and shares a similar stratigraphic location as that of Keats and Lotto.
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Drilling is now planned for the region in the fourth quarter, under the currently ongoing drill program.
New Found Gold last traded at $7.12 on the TSX Venture.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
