New Found Gold (TSXV: NFG) this morning released further drill results from its ongoing exploration of its flagship Queensway project in Newfoundland. The latest results come from the Golden Joint Zone, one of the newer discoveries on the property.
Two highlight intervals were the focus of this mornings release, including hole NFGC-21-274. which intersected 33.10 g/t gold over 2.10 metres at a depth of 164.65 metres. Also highlight was hole NFGC-21-386, which hit 70.65 g/t gold over 5.25 metres at a depth of 424.75 metres.
The assay values returning are based upon weighted averages from whole core analysis that was conducted, following irregularities in the firms reporting found last year.
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Hole 21-274 is significant for the company, as it marks the deepest intercept to date at the Golden Zone, increasing the zone to a depth of 112 metres. Strike of the zone has now been extended to 210 metres, and remains open in all directions. The zone itself is found between the Lotto and Keats zones.
The firm also indicated that it is 32% complete it’s 400,000 metre drill program being conducted across the property, with a total of 29,500 metres of assay results still pending.
New Found Gold last traded at $8.58 on the TSX Venture.
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