New Found Gold Corp (TSXV: NFG) this morning released the drill results from three holes conducted at its flagship Keats Zone at its Queensway Project, located in Gander, Newfoundland. Highlights from the drill results include 61.8 g/t gold over 13.7 metres in hole NFGC-21-118.
The highlight hole consisted of a 21 metre down-plunge step-out hole to the south from what was previously the furthest south intercept at the zone. Having intersected mineralization beginning at a depth of 211.15 metres, it is currently the deepest intercept to date on the property, with drilling at this hole ongoing. The hole is reportedly at a depth of 581 metres as it looks to intersect the Appleton Fault.
The zone as a whole has now reportedly been defined over 285 metres down-plunge, while remaining open. Step-out drilling is currently occurring to the south with drilling being conducted vertically above and below the zone, as well as to the north.
| Hole No. | From (m) | To (m) | Interval (m)* | Au (g/t) |
| NFGC-21-79 | 133.75 | 141.65 | 7.9 | 22.7 |
| NFGC-21-90 | 35.35 | 39.20 | 3.9 | 24.5 |
| NFGC-21-118 | 211.15 | 224.80 | 13.7 | 61.8 |
| Incl | 212.10 | 213.05 | 1.0 | 565 |
Furthermore, the company has indicated that it has managed to reduce turn around time on assays significantly, while drilling on the property is in the process of ramping to eight drill rigs.
New Found Gold last traded at $3.87 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.
