New Found Gold (TSXV: NFG) is looking to get a better look at what’s going on beneath overburden at its flagship Queensway project, found in Newfoundland. The company this morning revealed that it will be conducting a trenching program at the Keats Zone.
The trenching program aims to remove overburden, which is anywhere from three to nine metres thick, along a strike length of 200 metres at the Keats Main Zone. Trenching will be conducted to a width of 70 metres, focusing on the projection of the zone at the bedrock surface.
The aim of the program is to “expose a window” into the top of the zone to assist in validating the current geological model that has been developed for the property, while working to improve insights into the current geometry of the geology. A mapping program is expected to occur once the trench is complete, with trenching slated to take roughly 45 days.
READ: New Found Gold Invests US$2.0 Million To Secure MOU For Use Of Mill In Newfoundland
“The discovery of the Keats zone in late 2019 was blind by nature of the fact that it does not outcrop at surface but rather exists under a thin layer of till cover. [..] The ability to expose the bedrock where drilling has outlined high-grade mineralization is just another one of the unique characteristics of this discovery and one that we are happy to be able to take advantage of in our quest to further de-risk the accuracy of our models,” commented COO Greg Matheson.
Excavation will focus on a portion of the zone that features bedrock beginning at just 3 metres below surface, where robust grades have been demonstrated from bedrock, such as hole NFGC-20-37, which intersected 25.00 g/t gold over 10.30 metres from a depth of 9.00 metres, and NFGC-21-120, which intersected 12.65 g/t gold over 12.05 metres from a depth of 9.65 metres.
New Found Gold last traded at $6.04 on the TSX Venture.
The author has no securities or affiliations related to any organization mentioned. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
