New Found Gold (TSXV: NFG) continues to prove-out a discovery it identified earlier this year known as the Iceberg zone. The zone is found 300 metres to the northeast of the Keats Main zone at the firms Queensway project in Newfoundland.
Recent exploration at the zone consists of a 13 hole drill program, the results for which are now in hand. Highlights from the results include:
- NFGC-23-1217: 19.63 g/t gold over 5.25 metres
- NFGC-23-1222: 12.36 g/t gold over 6.60 metres
- NFGC-23-1285: 21.70 g/t gold over 4.45 metres
The drill program is said to have greatly expanded the strike of Iceberg, with hole NFGC-23-1285 being a 375 metre step-out to the east-northeast. The hole also marks the easternmost drill hole conducted along the Appleton Fault Zone.
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NFGC-23-1217 meanwhile was a 110 metre step-out to the west-southwest, and is also the deepest high grade intercept at Iceberg to date. Combined, the two holes have expanded the strike length of Iceberg to 550 metres. The target is said to remain open in all directions.
READ: New Found Gold Continues To Prove Out Iceberg Zone With 35 g/t Gold Over 10.6 Metres Intercept
“In the early days of the Queensway discovery at Keats Main, we took a very methodical approach to exploration, utilizing small step-outs to track mineralization and fully understand the structure along the Keats-Baseline Fault Zone (“KBFZ”). At Iceberg, the perceived fault-displaced eastern extension of Keats Main located along the KBFZ, we have taken a decidedly different approach, implementing more aggressive step-outs with the goal of more quickly grasping the scale of structure and mineralization,” commented New Found’s COO Greg Matheson.
New Found Gold last traded at $5.71 on the TSX Venture.
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