New Found Gold Corp. (“New Found” or the
“Company”) (TSX-V: NFG, NYSE-A: NFGC) is pleased to announce
the results from 61 diamond drill holes that were completed as part
of a program designed to infill gaps, extend high-grade to surface,
and test opposing vein orientations to the main east-northeast
striking orientation of the Keats-Baseline Fault Zone at
Iceberg-Iceberg East, a high-grade zone located 300m northeast of
Keats along the highly prospective Appleton Fault Zone
(“AFZ”). New Found’s 100%-owned Queensway project comprises
a 1,662 km2 area, accessible via the Trans-Canada Highway, 15km
west of Gander, Newfoundland and Labrador.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20240313762569/en/
Figure 1: Photos of mineralization from
Left: at ~112.30m in NFGC-23-1323, Right: at 79.25m in NFGC-23-1766
^Note that these photos are not intended to be representative of
gold mineralization in NFGC-23-1323 and NFGC-23-1766. (Photo:
Business Wire)
Iceberg and Iceberg East Highlights:
Hole No.
From (m)
To (m)
Interval (m)
Au (g/t)
Zone
NFGC-23-13231
109.00
125.70
16.70
12.56
Iceberg
Including
112.25
113.50
1.25
132.84
Including
120.65
121.60
0.95
24.30
NFGC-23-16132
25.20
27.45
2.25
24.89
Iceberg East
Including
27.15
27.45
0.30
168.52
NFGC-23-17462
50.80
58.15
7.35
42.80
Iceberg
Including
51.60
53.40
1.80
172.02
NFGC-23-17662
55.35
65.00
9.65
4.89
Iceberg
Including
59.00
60.90
1.90
18.47
NFGC-23-18051
62.15
64.70
2.55
21.06
Iceberg
And1
70.70
82.15
11.45
3.96
Including
73.45
74.45
1.00
12.75
NFGC-23-18201
45.30
62.00
16.70
36.18
Iceberg
Including1
46.10
52.00
5.90
43.85
Including1
53.00
56.40
3.40
78.82
Including2
59.00
61.00
2.00
24.55
And2
68.30
81.45
13.15
15.50
Including
71.40
72.15
0.75
21.00
Including
74.00
75.80
1.80
88.76
NFGC-23-18271
87.50
102.20
14.70
33.68
Iceberg
Including1
90.20
92.20
2.00
229.26
Including2
99.50
101.00
1.50
12.59
NFGC-23-18381
14.10
19.95
5.85
40.51
Iceberg
Including
14.10
14.80
0.70
278.00
Including
18.40
19.95
1.55
22.56
NFGC-23-18431
27.50
29.65
2.15
22.10
Iceberg
Including
27.50
27.85
0.35
27.69
Including
28.40
29.25
0.85
36.84
NFGC-23-18731
35.00
37.45
2.45
27.77
Iceberg
Including
36.45
37.05
0.60
110.50
And4
104.60
109.10
4.50
13.19
Including
104.60
105.25
0.65
13.80
Including
107.50
109.10
1.60
29.34
NFGC-23-19141
29.00
41.80
12.80
13.86
Iceberg
Including1
31.60
32.20
0.60
27.90
Including1
33.85
35.40
1.55
69.10
Including2
40.50
41.00
0.50
61.40
And2
51.25
53.65
2.40
14.69
Including
52.20
53.00
0.80
42.30
NFGC-23-19521
14.70
16.90
2.20
21.39
Iceberg East
Including
15.70
16.30
0.60
77.20
And1
23.00
25.15
2.15
11.04
Including
23.00
23.55
0.55
25.80
NFGC-23-19661
179.00
181.00
2.00
16.12
Iceberg
Including
180.00
181.00
1.00
31.68
NFGC-23-19771
121.40
129.35
7.95
10.39
Iceberg
Including
121.40
122.65
1.25
33.98
Including
125.00
125.45
0.45
77.68
And2
146.35
160.60
14.25
2.59
Including
155.10
155.95
0.85
12.34
Including
157.15
157.70
0.55
20.81
Table 1: Iceberg and Iceberg East Drilling
Highlights
Note that the host structures are interpreted to be moderately
to steeply dipping and true widths are generally estimated to be
170% to 95%, 240% to 70%, and 310% to 40% of reported intervals.
4True widths are unknown at this time. Infill veining in secondary
structures with multiple orientations crosscutting the primary host
structures are commonly observed in drill core which could result
in additional uncertainty in true width. Composite intervals
reported carry a minimum weighted average of 1 g/t Au diluted over
a minimum core length of 2m with a maximum of 4m consecutive
dilution when above 200m vertical depth and 2m consecutive dilution
when below 200m vertical depth. Included high-grade intercepts are
reported as any consecutive interval with grades greater than 10
g/t Au. Grades have not been capped in the averaging and intervals
are reported as drill thickness.
- 36.2 g/t Au over 16.70m in NFGC-23-1820 and 33.7 g/t Au over
14.70m in NFGC-23-1827 are located approximately 45m apart within
the high-grade domain of Iceberg where a confluence of high-grade
gold veins and associated structures intersect. These holes were
drilled from the west to the east to better test this secondary set
of gold veins that are partly controlling the high-grade
mineralization in this segment of the Keats-Baseline Fault Zone
(“KBFZ”) and to gain a better understanding of their
orientations and true widths.
- 40.5 g/t Au over 5.85m in NFGC-23-1838 and 13.9 g/t Au over
12.80m in NFGC-23-1914 are located at a vertical depth of just 20m
and were designed to extend high-grade gold mineralization to
surface at Iceberg. These holes are located 50m to the south and
150m to the north of NFGC-23-1820, respectively.
- Other notable intercepts from today’s release include 12.6 g/t
Au over 16.70m in NFGC-23-1323 and 42.8 g/t Au over 7.35m in
NFGC-23-1746, located 25m and 80m along strike to the north of
NFGC-23-1820. The intercept of 24.9 g/t Au over 2.25m in
NFGC-23-1613 is located a further 530m to the east at the far
eastern extent of Iceberg East.
- The near-surface Iceberg-Iceberg East high-grade segment of the
KBFZ has a strike length of 655m. When combined with the 400m
high-grade segment of Keats Main, this near-surface, high-grade
corridor covers over 1km of strike. This domain of high-grade
occurs within the overall KBFZ, a gold mineralized damage zone that
is drill-defined over 1.9km of strike, where it remains open.
Melissa Render, VP of Exploration of New Found, stated: “Infill
and definition drilling at Iceberg and Iceberg East have provided
us with a comprehensive picture of the near-surface expression of
this portion of the KBFZ, including the geometries of the veins at
play and the controls on high-grade gold mineralization. The KBFZ
has demonstrated several times over that it is a very important
structure, with the majority of meters used to date to test only
the top 250m vertical. The Company has now expanded the program at
Iceberg-Iceberg east utilizing the seismic data to assist in
targeting additional domains of gold mineralization within the KBFZ
at depth.”
Drillhole Details
Hole No.
From (m)
To (m)
Interval (m)
Au (g/t)
Zone
NFGC-21-194
No Significant Values
Iceberg
NFGC-22-10654
20.10
22.40
2.30
7.39
Iceberg
Including
21.85
22.40
0.55
30.45
NFGC-22-10691
4.65
7.20
2.55
3.03
Iceberg
Including
5.80
6.20
0.40
13.89
And1
16.70
19.00
2.30
1.90
NFGC-23-11521
158.35
161.00
2.65
1.09
Iceberg
NFGC-23-11774
25.85
28.05
2.20
1.38
Keats N
And4
66.55
68.95
2.40
1.02
Iceberg
And1
113.45
118.95
5.50
1.76
And4
129.70
132.20
2.50
1.18
NFGC-23-13231
109.00
125.70
16.70
12.56
Iceberg
Including
112.25
113.50
1.25
132.84
Including
120.65
121.60
0.95
24.30
NFGC-23-13281
15.45
17.80
2.35
6.18
Iceberg East
Including
15.45
16.00
0.55
11.34
Including
17.30
17.80
0.50
16.56
And1
37.40
40.75
3.35
2.16
NFGC-23-13401
132.15
135.75
3.60
8.39
Iceberg
Including
132.15
133.10
0.95
22.63
And3
143.80
156.35
12.55
1.05
And3
184.00
186.50
2.50
1.07
NFGC-23-13581
212.80
216.40
3.60
2.01
Iceberg
NFGC-23-14041
109.65
121.15
11.50
1.94
Iceberg
Including
119.75
120.15
0.40
29.23
NFGC-23-14274
132.90
134.95
2.05
1.11
Iceberg
And4
158.80
161.25
2.45
1.27
And4
165.25
168.35
3.10
1.75
And1
213.95
216.30
2.35
1.58
And1
220.00
222.50
2.50
1.04
NFGC-23-1436
No Significant Values
Iceberg East
NFGC-23-14431
162.85
165.30
2.45
1.06
Iceberg
NFGC-23-14452
61.45
66.40
4.95
2.53
Iceberg
NFGC-23-14891
157.00
159.90
2.90
1.10
Iceberg East
NFGC-23-15143
115.70
118.00
2.30
1.43
Iceberg East
NFGC-23-15251
97.00
99.20
2.20
1.70
Iceberg East
NFGC-23-15331
90.80
102.45
11.65
1.21
Iceberg East
And1
106.35
108.35
2.00
1.03
NFGC-23-16052
76.90
79.35
2.45
1.00
Iceberg East
And1
85.60
87.60
2.00
2.90
NFGC-23-16072
12.00
14.00
2.00
1.25
Iceberg East
And2
17.00
19.00
2.00
1.17
NFGC-23-16132
25.20
27.45
2.25
24.89
Iceberg East
Including
27.15
27.45
0.30
168.52
NFGC-23-1622
No Significant Values
Iceberg East
NFGC-23-1622A1
102.80
111.45
8.65
1.67
Iceberg East
Including
102.80
103.55
0.75
10.40
NFGC-23-17462
50.80
58.15
7.35
42.80
Iceberg
Including
51.60
53.40
1.80
172.02
And2
63.10
65.30
2.20
1.13
NFGC-23-17574
71.00
74.50
3.50
1.87
Iceberg
And1
91.00
107.35
16.35
1.13
NFGC-23-17662
55.35
65.00
9.65
4.89
Iceberg
Including
59.00
60.90
1.90
18.47
And2
73.00
75.10
2.10
1.43
And2
79.45
86.30
6.85
1.51
NFGC-23-1769
No Significant Values
Iceberg
NFGC-23-1776
No Significant Values
Iceberg
NFGC-23-17801
140.50
144.55
4.05
1.49
Iceberg
NFGC-23-17891
146.80
149.10
2.30
2.20
Iceberg
And1
183.60
186.25
2.65
1.94
NFGC-23-18001
97.55
100.15
2.60
1.06
Iceberg
And1
120.00
127.75
7.75
2.66
Including
127.00
127.75
0.75
15.05
And1
152.70
155.80
3.10
1.05
NFGC-23-18051
57.30
59.85
2.55
1.87
Iceberg
And1
62.15
64.70
2.55
21.06
And1
70.70
82.15
11.45
3.96
Including
73.45
74.45
1.00
12.75
And1
91.00
93.00
2.00
1.02
And2
100.75
104.40
3.65
8.70
Including
101.40
102.40
1.00
17.01
And1
114.30
117.00
2.70
1.26
And1
121.20
126.40
5.20
1.04
NFGC-23-18131
140.00
142.10
2.10
1.07
Iceberg
NFGC-23-18201
45.30
62.00
16.70
36.18
Iceberg
Including1
46.10
52.00
5.90
43.85
Including1
53.00
56.40
3.40
78.82
Including2
59.00
61.00
2.00
24.55
And2
68.30
81.45
13.15
15.50
Including
71.40
72.15
0.75
21.00
Including
74.00
75.80
1.80
88.76
And1
101.30
103.70
2.40
1.01
NFGC-23-18272
74.00
76.25
2.25
1.35
Iceberg
And1
87.50
102.20
14.70
33.68
Including1
90.20
92.20
2.00
229.26
Including2
99.50
101.00
1.50
12.59
And1
106.05
108.95
2.90
1.01
NFGC-23-18321
9.30
13.65
4.35
4.00
Iceberg
Including
12.75
13.65
0.90
15.50
NFGC-23-18381
14.10
19.95
5.85
40.51
Iceberg
Including
14.10
14.80
0.70
278.00
Including
18.40
19.95
1.55
22.56
NFGC-23-18431
27.50
29.65
2.15
22.10
Iceberg
Including
27.50
27.85
0.35
27.69
Including
28.40
29.25
0.85
36.84
NFGC-23-18661
12.25
20.00
7.75
4.70
Iceberg
Including
14.60
15.20
0.60
52.90
And4
90.55
93.85
3.30
1.44
And2
171.05
173.20
2.15
1.43
Keats N
NFGC-23-18731
35.00
37.45
2.45
27.77
Iceberg
Including
36.45
37.05
0.60
110.50
And4
104.60
109.10
4.50
13.19
Including
104.60
105.25
0.65
13.80
Including
107.50
109.10
1.60
29.34
NFGC-23-18791
80.95
90.50
9.55
3.10
Iceberg
Including
80.95
81.95
1.00
11.95
And1
99.10
105.85
6.75
5.56
Keats N
Including
100.10
101.10
1.00
25.60
NFGC-23-18871
100.00
102.00
2.00
1.31
Iceberg
NFGC-23-1895
No Significant Values
Iceberg
NFGC-23-1902
No Significant Values
Iceberg
NFGC-23-19121
24.95
31.90
6.95
7.18
Iceberg
Including
26.00
28.30
2.30
18.51
And4
40.50
46.80
6.30
2.44
NFGC-23-19141
29.00
41.80
12.80
13.86
Iceberg
Including1
31.60
32.20
0.60
27.90
Including1
33.85
35.40
1.55
69.10
Including2
40.50
41.00
0.50
61.40
And2
51.25
53.65
2.40
14.69
Including
52.20
53.00
0.80
42.30
NFGC-23-1915
No Significant Values
Iceberg
NFGC-23-19201
28.00
30.00
2.00
1.35
Iceberg East
And1
38.30
40.85
2.55
1.05
NFGC-23-1922
No Significant Values
Iceberg
NFGC-23-1924
No Significant Values
Iceberg
NFGC-23-1925
No Significant Values
Iceberg East
NFGC-23-1928
No Significant Values
Iceberg East
NFGC-23-19322
64.95
67.15
2.20
3.59
Iceberg East
NFGC-23-1938
No Significant Values
Iceberg
NFGC-23-1950
No Significant Values
Iceberg East
NFGC-23-19521
14.70
16.90
2.20
21.39
Iceberg East
Including
15.70
16.30
0.60
77.20
And1
23.00
25.15
2.15
11.04
Including
23.00
23.55
0.55
25.80
NFGC-23-1956
No Significant Values
Iceberg
NFGC-23-1957A
No Significant Values
Iceberg East
NFGC-23-19661
179.00
181.00
2.00
16.12
Iceberg
Including
180.00
181.00
1.00
31.68
NFGC-23-19701
161.00
163.35
2.35
1.39
Iceberg
And2
184.30
187.15
2.85
1.07
NFGC-23-19771
121.40
129.35
7.95
10.39
Iceberg
Including
121.40
122.65
1.25
33.98
Including
125.00
125.45
0.45
77.68
And2
146.35
160.60
14.25
2.59
Including
155.10
155.95
0.85
12.34
Including
157.15
157.70
0.55
20.81
And4
201.55
204.20
2.65
1.48
Table 2: Summary of composite results
reported in this press release for Iceberg and Iceberg East
Note that the host structures are interpreted
to be moderately to steeply dipping and true widths are generally
estimated to be 170% to 95%, 240% to 70%, and 310% to 40% of
reported intervals. 4True widths are unknown at this time. Infill
veining in secondary structures with multiple orientations
crosscutting the primary host structures are commonly observed in
drill core which could result in additional uncertainty in true
width. Composite intervals reported carry a minimum weighted
average of 1 g/t Au diluted over a minimum core length of 2m with a
maximum of 4m consecutive dilution when above 200m vertical depth
and 2m consecutive dilution when below 200m vertical depth.
Included high-grade intercepts are reported as any consecutive
interval with grades greater than 10 g/t Au. Grades have not been
capped in the averaging and intervals are reported as drill
thickness.
Hole No.
Azimuth (°)
Dip (°)
Length (m)
UTM E
UTM N
Prospect
NFGC-21-194
300
-45
608
658587
5427560
Iceberg
NFGC-22-1065
300
-45
320
658422
5427866
Iceberg
NFGC-22-1069
308
-49
251
658282
5427630
Iceberg
NFGC-23-1152
83
-45
249
658284
5427850
Iceberg
NFGC-23-1177
142
-45
166
658283
5427849
Iceberg
NFGC-23-1323
300
-45
275
658515
5427783
Iceberg
NFGC-23-1328
300
-45
225
658848
5428140
Iceberg East
NFGC-23-1340
300
-45
305
658551
5427791
Iceberg
NFGC-23-1358
299
-45.5
479
658507
5427672
Iceberg
NFGC-23-1404
299
-45.5
161
658577
5427833
Iceberg
NFGC-23-1427
300
-45
257
658347
5427592
Iceberg
NFGC-23-1436
0
-45
227
658940
5428202
Iceberg East
NFGC-23-1443
319
-53
269
658571
5427779
Iceberg
NFGC-23-1445
318
-45
161
658338
5427660
Iceberg
NFGC-23-1489
313
-45
230
658679
5427833
Iceberg East
NFGC-23-1514
0
-90
141
658707
5428021
Iceberg East
NFGC-23-1525
319
-45
129
658680
5427948
Iceberg East
NFGC-23-1533
318
-57
150
658680
5427948
Iceberg East
NFGC-23-1605
300
-72
105
658776
5428065
Iceberg East
NFGC-23-1607
300
-60
161
658881
5428149
Iceberg East
NFGC-23-1613
299
-68
140
658848
5428140
Iceberg East
NFGC-23-1622
276
-45
64
658843
5428084
Iceberg East
NFGC-23-1622A
276
-45
125
658844
5428083
Iceberg East
NFGC-23-1746
119
-45
107
658456
5427887
Iceberg
NFGC-23-1757
118
-54
131
658442
5427896
Iceberg
NFGC-23-1766
120
-45
98
658435
5427872
Iceberg
NFGC-23-1769
118
-46
155
658317
5427850
Iceberg
NFGC-23-1776
120
-45
188
658316
5427883
Iceberg
NFGC-23-1780
118
-53
215
658287
5427900
Iceberg
NFGC-23-1789
120
-45
224
658288
5427900
Iceberg
NFGC-23-1800
125
-49
164
658360
5427865
Iceberg
NFGC-23-1805
155
-45
143
658359
5427864
Iceberg
NFGC-23-1813
114
-48
176
658365
5427878
Iceberg
NFGC-23-1820
165
-55
152
658407
5427858
Iceberg
NFGC-23-1827
118
-60
116
658407
5427860
Iceberg
NFGC-23-1832
299
-45.5
176
658400
5427819
Iceberg
NFGC-23-1838
299
-45.5
98
658385
5427800
Iceberg
NFGC-23-1843
299
-45.5
119
658377
5427776
Iceberg
NFGC-23-1866
299
-45
191
658354
5427759
Iceberg
NFGC-23-1873
299
-45
150
658375
5427747
Iceberg
NFGC-23-1879
120
-54
129
658426
5427879
Iceberg
NFGC-23-1887
119
-46.5
188
658382
5427902
Iceberg
NFGC-23-1895
119
-46
173
658398
5427920
Iceberg
NFGC-23-1902
173
-65
107
658310
5427784
Iceberg
NFGC-23-1912
355
-45
62
658533
5427896
Iceberg
NFGC-23-1914
16
-45
86
658534
5427895
Iceberg
NFGC-23-1915
140
-56
101
658292
5427767
Iceberg
NFGC-23-1920
280
-51
83
658602
5427964
Iceberg East
NFGC-23-1922
167
-63
113
658292
5427767
Iceberg
NFGC-23-1924
130
-45
92
658279
5427745
Iceberg
NFGC-23-1925
335
-60
65
658603
5427965
Iceberg East
NFGC-23-1928
7
-65
74
658615
5427987
Iceberg East
NFGC-23-1932
280
-45
89
658685
5428004
Iceberg East
NFGC-23-1938
299
-45
161
658318
5427723
Iceberg
NFGC-23-1950
300
-50
50
658681
5428035
Iceberg East
NFGC-23-1952
300
-45
50
658725
5428067
Iceberg East
NFGC-23-1956
299
-45
221
658339
5427711
Iceberg
NFGC-23-1957A
300
-45
47
658768
5428095
Iceberg East
NFGC-23-1966
120
-45
191
658262
5427886
Iceberg
NFGC-23-1970
121
-55
215
658262
5427886
Iceberg
NFGC-23-1977
120
-45
212
658255
5427861
Iceberg
Table 3: Details of drill holes reported in
this press release
Queensway 650,000m Drill Program Update
The Company is currently undertaking a 650,000m drill program at
Queensway and approximately 4,500m of core is currently pending
assay results.
Sampling, Sub-sampling, and Laboratory
All drilling recovers HQ core. Drill core is split in half using
a diamond saw or a hydraulic splitter for rare intersections with
incompetent core.
A geologist examines the drill core and marks out the intervals
to be sampled and the cutting line. Sample lengths are mostly 1.0
meter and adjusted to respect lithological and/or mineralogical
contacts and isolate narrow (<1.0m) veins or other structures
that may yield higher grades.
Technicians saw the core along the defined cutting line.
One-half of the core is kept as a witness sample and the other half
is submitted for analysis. Individual sample bags are sealed and
placed into totes, which are then sealed and marked with the
contents.
New Found has submitted samples for gold determination by fire
assay to ALS Canada Ltd. (“ALS”) and by photon assay to
MSALABS (“MSA”) since June 2022. ALS and MSA operate under a
commercial contract with New Found.
Drill core samples are shipped to ALS for sample preparation in
Sudbury, Ontario, Thunder Bay, Ontario, or Moncton, New Brunswick.
ALS is an ISO-17025 accredited laboratory for the fire assay
method.
Drill core samples are also submitted to MSA in Val-d’Or,
Quebec. MSA operates numerous laboratories worldwide and maintains
ISO-17025 accreditation for many metal determination methods. MSA
is an ISO-17025 accredited laboratory for the photon assay
method.
At ALS, the entire sample is crushed to approximately 70%
passing 2mm. A 3,000-g split is pulverized. “Routine” samples do
not have visible gold (VG) identified and are not within a
mineralized zone. Routine samples are assayed for gold by 30-g fire
assay with an inductively-couple plasma spectrometry (ICP) finish.
If the initial 30-g fire assay gold result is over 1 g/t, the
remainder of the 3,000-g split is screened at 106 microns for
screened metallics assay. For the screened metallics assay, the
entire coarse fraction (sized greater than 106 microns) is fire
assayed and two splits of the fine fraction (sized less than 106
microns) are fire assayed. The three assays are combined on a
weight-averaged basis. Samples that have VG identified or fall
within a mineralized interval are automatically submitted for
screened metallic assay for gold.
At MSA, the entire sample is crushed to approximately 70%
passing 2mm. For “routine” samples that do not have VG identified
and are not within a mineralized zone, the samples are riffle split
to fill one 450g jar for photon assay. If the jar assays greater
than 1 g/t, the remaining crushed material is weighed into multiple
jars and are submitted for photon assay.
For samples that have VG identified or are within a mineralized
zone, the entire crushed sample is weighed into multiple jars and
are submitted for photon assay. The assays from all jars are
combined on a weight-averaged basis.
All samples prepared at ALS or MSA are also analyzed for a
multi-element ICP package (ALS method code ME-ICP61) at ALS
Vancouver.
Drill program design, Quality Assurance/Quality Control and
interpretation of results are performed by qualified persons
employing a rigorous Quality Assurance/Quality Control program
consistent with industry best practices. Standards and blanks
account for a minimum of 10% of the samples in addition to the
laboratory’s internal quality assurance programs.
Quality Control data are evaluated on receipt from the
laboratories for failures. Appropriate action is taken if assay
results for standards and blanks fall outside allowed tolerances.
All results stated have passed New Found’s quality control
protocols.
New Found’s quality control program also includes submission of
the second half of the core for approximately 2% of the drilled
intervals. In addition, approximately 1% of sample pulps for
mineralized samples are submitted for re-analysis to a second
ISO-accredited laboratory for check assays.
The Company does not recognize any factors of drilling, sampling
or recovery that could materially affect the accuracy or
reliability of the assay data disclosed.
The assay data disclosed in this press release have been
verified by the Company’s Qualified Person against the original
assay certificates.
The Company notes that it has not completed any economic
evaluations of its Queensway Project and that the Queensway Project
does not have any resources or reserves.
Qualified Person
The scientific and technical information disclosed in this press
release was reviewed and approved by Greg Matheson, P. Geo., Chief
Operating Officer and a Qualified Person as defined under National
Instrument 43-101. Mr. Matheson consents to the publication of this
press release dated March 13, 2024, by New Found. Mr. Matheson
certifies that this press release fairly and accurately represents
the scientific and technical information that forms the basis for
this press release.
About New Found Gold Corp.
New Found holds a 100% interest in the Queensway Project,
located 15km west of Gander, Newfoundland and Labrador, and just
18km from Gander International Airport. The project is intersected
by the Trans-Canada Highway and has logging roads crosscutting the
project, high voltage electric power lines running through the
project area, and easy access to a highly skilled workforce. The
Company is currently undertaking a 650,000m drill program at
Queensway and is well funded for this program with cash and
marketable securities of approximately $49 million as of March
2024.
Please see the Company’s website at www.newfoundgold.ca and the
Company’s SEDAR+ profile at www.sedarplus.ca.
Acknowledgements
New Found acknowledges the financial support of the Junior
Exploration Assistance Program, Department of Natural Resources,
Government of Newfoundland and Labrador.
Contact
To contact the Company, please visit the Company’s website,
www.newfoundgold.ca and make your request through our investor
inquiry form. Our management has a pledge to be in touch with any
investor inquiries within 24 hours.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Forward-Looking Statement Cautions
This press release contains certain “forward-looking statements”
within the meaning of Canadian securities legislation, relating to
exploration, drilling and mineralization on the Company’s Queensway
gold project in Newfoundland and Labrador; assay results; the
interpretation of drilling and assay results, the results of the
drilling program, mineralization and the discovery of zones of
high-grade gold mineralization; plans for future exploration and
drilling and the timing of same; the merits of the Queensway
project; future press releases by the Company; and funding of the
drilling program. Although the Company believes that such
statements are reasonable, it can give no assurance that such
expectations will prove to be correct. Forward-looking statements
are statements that are not historical facts; they are generally,
but not always, identified by the words “expects”, “plans”,
“anticipates”, “believes”, “interpreted”, “intends”, “estimates”,
“projects”, “aims”, “suggests”, “demonstrates”, “encouraging”,
“indicate”, “often”, “target”, “future”, “likely”, “pending”,
“potential”, “goal”, “objective”, “prospective”, “possibly”,
“preliminary”, and similar expressions, or that events or
conditions “will”, “would”, “may”, “can”, “could” or “should”
occur, or are those statements, which, by their nature, refer to
future events. The Company cautions that forward-looking statements
are based on the beliefs, estimates and opinions of the Company's
management on the date the statements are made, and they involve a
number of risks and uncertainties. Consequently, there can be no
assurances that such statements will prove to be accurate and
actual results and future events could differ materially from those
anticipated in such statements. Except to the extent required by
applicable securities laws and the policies of the TSX Venture
Exchange, the Company undertakes no obligation to update these
forward-looking statements if management's beliefs, estimates or
opinions, or other factors, should change. Factors that could cause
future results to differ materially from those anticipated in these
forward-looking statements include risks associated with possible
accidents and other risks associated with mineral exploration
operations, the risk that the Company will encounter unanticipated
geological factors, risks associated with the interpretation of
assay results and the drilling program, the possibility that the
Company may not be able to secure permitting and other governmental
clearances necessary to carry out the Company's exploration plans,
the risk that the Company will not be able to raise sufficient
funds to carry out its business plans, and the risk of political
uncertainties and regulatory or legal changes that might interfere
with the Company's business and prospects. The reader is urged to
refer to the Company's Annual Information Form and Management’s
discussion and Analysis, publicly available through the Canadian
Securities Administrators’ System for Electronic Document Analysis
and Retrieval (SEDAR+) at www.sedarplus.ca for a more complete
discussion of such risk factors and their potential effects.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240313762569/en/
New Found Gold Corp. Per: “Collin Kettell” Collin Kettell, Chief
Executive Officer Email: ckettell@newfoundgold.ca Phone: +1 (845)
535-1486
Grafico Azioni New Found Gold (AMEX:NFGC)
Storico
Da Dic 2024 a Gen 2025
Grafico Azioni New Found Gold (AMEX:NFGC)
Storico
Da Gen 2024 a Gen 2025
