New Found Gold Intersects 13.1 Metres Of 45.3 G/T Gold

New Found Gold (TSXV: NFG) this morning released its latest drill data from the Keats Zone, and the results are a doozie. The company reported highlight intervals of 45.3 g/t gold over 13.1 metres, along with 25.0 g/t gold over 16.85 metres in step out drilling conducted at the zone.

In total, partial results from six drill holes were released this morning from the firms flagship Queensway project, all of which come from the Keats Zone. The company is currently in the process of conducting a 100,000 metre drill campaign on the large property, which is located near to Gander, Newfoundland.

The highlight results outlined above come from holes NFGC-20-32 and NFGC-20-29, respectively, each of which are located 10 metres south of the initial NFGC-19-01 that hit 92.9 g/t gold over 19.0 metres last year. The full results released this morning are as follows.

HoleGold (g/t)Interval (m)Relative to NFGC-19-01
NFGC-20-3245.313.110m south, 10m below
NFGC-20-2925.016.910m south
NFGC-20-2840.14.110m south, 10m above
NFGC-20-257.32.210m above
NFGC-20-3429.32.425m below 19-01
NFGC-20-3010.36.150m south of 19-01

Mineralization from these holes are said to occur at intervals between 80 metres and 132 metres at depth. Further drill holes from the program, including those taken north of the centre hole, have been sent to the lab to be assayed on a rushed basis. To date, 36 holes have been completed at the Keats Zone, with 12 holes having received partial assays.

New Found Gold last traded at $4.40 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.

Leave a Reply