New Found Gold (TSXV: NFG) has released the results on an infill drill program conducted at the Monte Carlo zone within the AFZ Core, which is part of the larger Queensway Gold project. The latest results come from an initial 2,306 metres of drilling.
Highlights from the results include:
- NFGC-25-2445: 16.2 g/t gold over 3.20 metres from a depth of 19.80 metres
- NFGC-25-2447: 25.5 g/t gold over 2.70 metres from a depth of 29.00 metres
- NFGC-25-2450: 6.59 g/t gold over 12.20 metres from a depth of 33.0 metres
- NFGC-25-2451: 9.41 g/t gol over 7.20 metres from a depth of 70.95 metres
- NFGC-25-2462: 22.4 g/t gold over 4.75 metres from a depth of 102.25 metres
The program was focused on upgrading mineral resources from the inferred to the indicated category within the phase 1 and phase 2 open pits at Queensway. Results come from an initial 28 drill holes that saw assays released, which amount to 2,306 metres of drilling in aggregate.
Results are said to generally align with the initial resource estimate model, however several higher-grade intercepts were made in areas previously modelled as being lower grade, which is expected to positively impact the current resource estimate. Mineralization as a whole extends over a strike length of 235 metres at Monte Carlo and to a depth of 160 metres. The deposit is found to the west of Lotto, on the western size of the Appleton Fault Zone.
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“We are pleased to report these results from infill drilling of Phase I and II open pits at Monte Carlo. Overall, we see consistency with past drilling, indicating good continuity of gold mineralization in this proposed open pit. Select holes from 2025 drilling have returned higher grade intervals than in the initial mineral resource estimate block model. We look forward to integrating these results into the updated Queensway mineral resource currently planned for H1/26,” commented Melissa Render, President of New Found Gold.
The larger 70,000 metre drill program planned for Queensway in 2025 is now over 95% complete and expected to wrap up later this month. Infill drilling under that program has been completed, while geotechnical drilling of the PEA phase 1 pits, as well as condemnation drilling for infrastructure and plant siting and hydrogeological drilling remains ongoing.
Complete assay results can be found here.
New Found Gold last traded at $3.91 on the TSX Venture.
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