New Found Gold (TSXV: NFG) this morning reported further results from its ongoing exploration program at its flagship Queensway Project, located near Gander, Newfoundland. The company reported a highlight result of 29.1 g/t gold over 11.4 metres.
The latest drill hole data comes from the Keats Zone, with the reported intercept being located 125 metres down plunge of previously reported drill holes. The finding is said to double the known extent of mineralization at the zone.
The highlight result comes from hole NFGC-21-104, the only hole reported by the company this morning. Drilled to a depth of 255 metres, mineralization was also found at the end of the hole, which assayed 7.35 g/t gold over 0.6 metres. Further step out drilling is now planned for the area, will mineralization defined over 250 metres within the region. Three drill rigs continue to work the zone for infill drilling and to continue with step out drilling.
Outside of Keats, the company also announced that it has begun a systematic program to test 20 kilometres of strike length along the Appleton and JBP faults that are to consist of first pass reconnaissance drill hole fences.
New Found Gold last traded at $3.45 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.
