New Found Gold Corp. (TSXV: NFG) announced today the assay results from four holes drilled at the Golden Joint zone. The results highlighted a yield of 430.17 g/t gold over 5.25 metres.
The four drill holes are part of the company’s 200-kilometre diamond drill program at its Queensway project in Gander, Newfoundland.
Highlights of the drill results from the Golden Joint zone include:
- NFGC-21-241: 430.17 g/t gold over 5.25 metres
- NFGC-21-171: 10.36 g/t gold over 4.85 metres
The company also relayed that over 700 grains of visible gold were contained in the 5.25-metre assay, the most per meter that the company has experienced to date.
The other two drill holes also returned assays from the Golden Joint hanging wall located 150 metres east of the main zone. The results include intersects of 12.70 g/t gold over 2.00 metres and 7.08 g/t gold over 4.00 metres. Further step out drilling is slated to test the zone.
The new discovery of the Golden Joint zone is located approximately 1,000 metres from the company’s flasghip Keats zone. It is also located 850 metres from the Lotto zone where the company previously drilled a highlight intersect of 150.28 g/t gold over 11.50 metres.
The company currently has two rigs on site to conduct step out drilling from the highlight hole, with additional assays said to be pending.
New Found Gold last traded at $11.34 on the TSX Venture.
Information for this briefing was found via Sedar and New Found Gold. 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.