New Found Gold (TSXV: NFG) this morning reported further drill results from its massive ongoing program at its Queensway Project in Newfoundland. The firm has seen additional significant intercepts at Keats via step-out drilling.
The highlight hole today consists of an interval measuring 5.20 metres that hit 61.50 g/t gold, including 2.70 metres of 117.15 g/t gold within hole NFGC-21-360. Mineralization was intersected at a depth of 260.80 metres downhole from a 65 metre step-out hole.
Additional results released include:
- NFGC-21-351: 63.92 g/t gold over 3.25 metres
- NFGC-21-312: 17.59 g/t gold over 6.50 metres
- NFGC-21-341: 22.20 g/t gold over 2.40 metres
The Keats Main Zone is now said to extend 530 metres down plunge, with the highlight hole released this morning increasing this by 65 metres. The overall footprint of Keats now measures 250 metres in width by 490 metres of strike, and 307 metres of vertical depth while remaining open in all directions.
The firm remains focused on expanding the high-grade gold system, with drilling remaining ongoing. The firm is working to expand mineralization at the Keats Main Zone to the south and up-dip of the core zone.
Drilling overall at Queensway is said to be 51% complete with respect to the planned 200,000 metre drill program, with 24,000 metres of core awaiting assays. Nine rigs are currently turning on site.
New Found Gold last traded at $8.88 on the TSX Venture.
Information for this briefing was found via Sedar and the companies mentioned. 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.
