New Found Gold Hits 119.45 g/t Gold Over 2.40 Metres

New Found Gold (TSXV: NFG) this morning released further drill results from its ongoing exploration program at its flagship Queensway property in Newfoundland. The results this morning come from the Keats zone, the main discovery on the property to date.

Results released this morning consisted of a further 45 drill holes, which were focused on expanding the Keats zone as a whole. Presently, the zone is said to consist of 9.45 kilometres along the Appleton Fault Zone.

Highlights from this mornings results include:

  • NFGC-21-318: 16.03 g/t gold over 2.00 metres
  • NFGC-21-375: 119.45 g/t gold over 2.40 metres
  • NFGC-21-464: 21.12 g/t gold over 7.20 metres
  • NFGC-21-491: 79.81 g/t gold over 3.0 metres

Notably, the results pointed to yet another new zone being identified on the property. Reconnaissance drilling focused on a potential extension to the south of the Keats Main Zone intersected 7.85 g/t gold over 4.85 metres among other results, with further step out drilling hitting 2.58 g/t gold over 10.40 metres. The zone is presently being referred to as the 421 Zone.

“The strength of the mineralizing system along the Keats-Baseline Fault Zone is exceptional based on the extensive amount of veining, alteration, brittle deformation and high-grade gold mineralization. Drills are working aggressively to continue to extend the Keats Main high-grade domain down plunge which now extends a length of approximately 845m,” commented Melissa Render, VP Exploration for New Found.

The current drill program is said to now be 40% complete, with assays from 19,120 metres of drilling still waiting to be completed.

New Found Gold last traded at $7.57 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.

Leave a Reply