New Found Gold (TSXV: NFG) this morning released further drill results from its ongoing drill program at its Queensway Project in Newfoundland. Results come from partial assays, with highlights consisting of 27.0 g/t gold over 30.1 metres and 24.0 g/t gold over 46.0 metres.
The assay results again came from the firms Keats Zone, which has quickly become the flagship zone at the massive property. The most significant result, 24.0 g/t gold over 46.0 metres, came from hole NFGC-21-80, and represents the largest intercept to date at the property. NFGC-20-52 meanwhile provided the other highlight result, and intersected three separate high grade intervals over 30.1 metres.
Notably, the company has identified that both of the large headline results include intervening intervals assaying below the 1 g/t gold cut-off grade.
Sponsored · PTX Metals Inc.
Gold mineralization was also found in the footwall of the Keats structure, with NFGC-20-73 hitting 21.9 g/t gold over 2.50 metres at a depth of 191.0 metres downhole. The company is now continuing with step out drilling to the north, south, and to depth at the baseline fault.
| Hole No. | From (m) | To (m) | Interval (m)* | Au (g/t) | Zone |
| NFGC-20-48 | 129.0 | 132.6 | 3.6 | 6.39 | Keats |
| And | 141.0 | 143.2 | 2.2 | 1.15 | Keats |
| And | 164.5 | 167.1 | 2.6 | 1.38 | Keats FW |
| NFGC-20-49 | 175.9 | 180.9 | 5.0 | 5.55 | Keats FW |
| Including | 177.7 | 178.7 | 1.0 | 21.2 | |
| NFGC-20-52 | 107.7 | 109.8 | 2.1 | 136.7 | Keats |
| And | 114.4 | 128.5 | 14.1 | 31.5 | Keats |
| And | 132.2 | 137.8 | 5.6 | 13.7 | Keats |
| NFGC-20-73 | 25.8 | 28.0 | 2.2 | 7.26 | Keats |
| Including | 26.6 | 27.0 | 0.5 | 30.1 | |
| And | 191.5 | 194.0 | 2.5 | 21.9 | Keats FW |
| Including | 191.5 | 192.2 | 0.7 | 83.4 | |
| And | 292.4 | 293.8 | 1.35 | 2.73 | Keats FW |
| NFGC-21-80 | 49.5 | 88.5 | 39.1 | 25.8 | Keats |
| Including | 62.7 | 72.8 | 10.1 | 58.5 | |
| Including | 78.7 | 88.5 | 9.9 | 39.5 | |
| And | 93.2 | 95.5 | 2.3 | 41.6 | Keats |
New Found Gold last traded at $4.03 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.
