Drilling continues apace for New Found Gold (TSXV: NFG), whom this morning reported further results from its ongoing 400,000 metre drill program at the Queensway property in Newfoundland. A total of thirty six drill hole assay results were released this morning.
The latest drill results come from a region north of the flagship Keats Zone, referred to as Keats North. The prospect has currently been defined over an area 150 metres wide by 630 metres long, with mineralization, which is hosted in gold-bearing veins, extending to at least 200 metres of depth.
Highlights from the results include:
Sponsored · Power Metallic Inc.
- NFGC-22-728: 116.93 g/t gold over 2.00 metres
- NFGC-22-762: 36.49 g/t gold over 2.15 metres
- NFGC-22-796: 17.06 g/t gold over 2.25 metres
- NFGC-22-825: 20.82 g/t gold over 2.00 metres
“As drilling progresses at Keats North, new domains of high-grade have been encountered in various locations throughout this stretch along the AFZ. The structure in this region is complex but with additional drilling and new data points, the interpretation is evolving, and several high-grade targets have been identified for prompt follow-up. Both high- and low-grade results are mapping out a substantial domain of gold mineralization that we are keen to pursue,” commented VP of Exploration Melissa Render.
READ: New Found Gold Hits 85.67 g/t Gold Over 5.65 Metres At Keats
Follow-up drilling has reportedly already commenced on the prospect which will focus on better defining the geometries of high grade gold-bearing veins, while future drilling will focus on expansion of the zone.
The current drill program is said to now be 79% complete, with 61,442 metres of core still pending assay results.
New Found Gold last traded at $6.47 on the TSX Venture.
The author has no securities or affiliations related to any organization mentioned. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
