New Found Gold (TSXV: NFG) continues to report assay results from its massive 400,000 metre drill program at its flagship Queensway project, found in Newfoundland. The company released the results from a further fourteen holes this morning, along with the results from a Chrysos PhotonAssay test program.
The latest round of results come from the Keats Main zone, where the company was focused on on expanding known mineralization within the Keats Baseline Fault Zone. Highlights from the results include:
- NFGC-22-562: 8.35 g/t gold over 2.0 metres, including 16.63 g/t gold over 1.00 metres
- NFGC-22-672: 56.83 g/t gold over 2.15 metres, including 270.00 g/t gold over 0.45 metres
- NFGC-22-705: 85.67 g/t gold over 5.65 metres, including 298.93 g/t gold over 1.60 metres, and 13.42 g/t gold over 9.05 metres
The company also indicated that it has successfully tested a photon assay method for analyzing gold content within samples from the Queensway project. The method will be used going forward as a means of increasing turn around times for assays.
“Today’s results are impressive and continue to outline high-grade gold mineralization that can be found in multiple orientations at Keats. We are also excited to debut the use of the Chrysos PhotonAssayTM method following several months of testwork, clearing the way for New Found to begin shipping a steady flow of material to MSALABS for assaying. The photon assay method is efficient, non-destructive, cost effective, and environmentally friendly,” said VP of Exploration Melissa Render.
The current drill program is said to now be 76% complete, with 65,635 metres of core still awaiting assay results.
New Found Gold last traded at $4.80 on the TSX Venture.
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