New Found Gold Hits 26 g/t Gold Over 9 Metres In Latest Iceberg Drilling

Further assay results have been released by New Found Gold (TSXV: NFG) from drilling at occurred at the recently discovered Iceberg zone at its Queensway project in Newfoundland.

A further fifteen drill holes saw assays released this morning, further expanding the known size of the zone to 575 metres of strike, with mineralization now known to extend to a depth of up to 160 metres. The zone is said to remain open in all directions, with drilling ongoing to continue to expand strike, with several holes currently pending results.

Highlights from the results include:

• NFGC-23-1188: 5.54 g/t gold over 5.45 metres from 94.2 metres depth
• NFGC-23-1201: 20.67 g/t gold over 6.85 metres from 102.2 metres depth
• NFGC-23-1261A: 25.98 g/t gold over 9.45 metres from 237.6 metres depth

“It is still early days at Iceberg, where we continue to receive a myriad of high-grade results. As shown in Figure 3 below on long section, we have roughly 50 holes pending from this zone with almost all occurring within the first 200m from surface. We look forward to getting a full grasp of this zone as we continue to chase it to depth and along strike,” commented COO Greg Matheson on the results.

The results follow assays released last week from the same zone, which had extended known mineralization to a strike length of 550 metres. Earlier this week that company also revealed that it had intersected 105 g/t over 27.1 metres at the same zone, from a depth of 59.75 metres. The result was strong enough that the company at the time issued a release on just the single drill hole.

New Found Gold last traded at $6.32 on the TSX Venture.

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