New Found Gold (TSXV: NFG) has received positive drill assays from the recently acquired Kingsway Project, which is adjacent to the northern portion of the firms Queensway Project.
Highlights from the drill results include:
- NFGC-24-2153: 10.36 g/t gold over 4.45 metres at a depth of 218.80 metres
- NFGC-24-2153: 104.62 g/t gold over 2.10 metres from a depth of 243.45 metres
Six diamond drill holes were conducted at the property at a deposit referred to as Pistachio, which was intended as a follow-up drill program to a program conducted by Labrador Gold, the prior owner of the project. The zone is found 5.5 kilometres to the north of the Honeypot Zone, which is part of New Found’s Queensway property.
“The acquisition of Labrador Gold’s Kingsway Project provides us with 13.5km of sparsely tested strike on the AFZ and an extensive pipeline of near-surface targets with several existing discoveries that exhibit gold mineralization characteristics identical to those observed at Queensway. [..] Acquiring the Kingsway Project has more than doubled our prospective strike length along the AFZ, while ongoing deep drilling has shown gold mineralization to persist to depths more than double those previously recognized,” commented Melissa Render, VP of Exploration for New Found Gold.
Additional assays released this morning consisted of results from the Honeypot and Jackpot zones of the Queensway property. Highlights from the results include:
- NFGC-24-2119: 5.20 g/t gold over 6.15 metres from 159.90 metres depth
- NFGC-24-2129: 8.44 g/t gold over 4.10 metres from 83.70 metres depth
- NFGC-24-2144: 36.74 g/t gold over 2.00 metres from 56.00 metres depth
New Found Gold last traded at $3.48 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.
