New Found Gold Corp (TSXV: NFG) this morning announced that it has received the final permits required to begin its fall drill program at its flagship Queensway Project, located in Newfoundland. The drill program is to be conducted on the Keats Zone, as a follow up to the discovery made at the zone in late 2019.
In 2019, the zone saw mineralization intersected on hole NFGC-19-01, when it hit 19.0 metres of 92.9 g/t gold at 96 metres downhole. Surface work is now being conducted to prep the region for further drilling, with the first drill rig expected to be mobilized to the area shortly. The drilling is part of a larger 100,000 metre drill program being conducted on the property as a whole.
More details on the planned program for the Keats zone is said to be released in the coming days, which is to include more specific details on targeting. The company is believed to have made progress in understanding the geology and mineralization since the last drill program was conducted on site, which is expected to assist in drilling targets during the current season.
New Found Gold last traded at $2.07 on the TSX Venture.
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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.
