New Found Gold (TSXV: NFG) has released the first assay results from a trenching program conducted at the Keats Zone at its Queensway Project in Quebec.
Highlights from the results include:
- KM-24-01-12: 214.97 g/t gold over 5.21 metres from 20.77 metres, and 1,088 g/t gold over 1.00 metres from 22.58 metres
- KM-24-01-13: 27.70 g/t gold over 6.55 metres from 32.58 metres
- KM-24-01-16: 13.41 g/t gold over 26.59 metres from 44.25 metres
- KM-24-01-17: 33.57 g/t gold over 11.62 metres from 39.97 metres, and 19.04 g/t gold over 5.67 metres from 56.70 metres, and 300.36 g/t gold over 5.10 metres from 73.66 metres
- KM-24-01-18: 38.88 g/t gold over 16.60 metres from 35.85 metres
The trenching and channel sampling program saw significant overburden removed from portions of the Keats Zone, which enabled the company to better understanding the extent, distribution, and variability of gold across the zone. The process has also enabled the company to validate its 3D model for the zone. Additional veins are said to have been uncovered from the process, while also revealing low-grade peripheral mineralization that was not previously well represented in drilling or in the existing model.
The channel sample program was conducted over an area that measures 200 metres long by 70 metres wide, using a 27 line sampling grid spaced 7.5 metres apart. 2,200 samples were collected under the program, while a phase two program remains ongoing.
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“Our approach at the Keats Trench has been to systematically test across the entire exposed surface to accurately map the extent of gold mineralization and determine with more certainty the distribution and variability of the gold contained within the mineralized domain. This is the highest density of assay data at Keats obtained to date and we are extremely pleased to see the broad widths of high-grade mineralization carrying across the exposure which is largely in line with modelled mineralization from the drilling program,” commented Greg Matheson, COO of New Found Gold.
New Found Gold last traded at $3.55 on the TSX Venture.
Information for this story was found via Sedar and the sources mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
