New Found Gold Corp. (“New Found” or the
“Company”) (TSX-V: NFG, NYSE-A: NFGC) is pleased to announce
the results from 38 diamond drill holes that were completed as part
of a program designed to expand on a new discovery called ‘Iceberg
Alley’ that is located 1km along strike of Iceberg, as well as 114
diamond drill holes that were completed to test a segment of the
Keats Baseline Fault Zone (“KBFZ”) that trends under South
Hermans Pond at the Keats Zone adjacent to the highly prospective
Appleton Fault Zone (“AFZ”). New Found’s 100%-owned
Queensway project comprises a 1,665 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/20240326753015/en/
Figure 1: Photos of mineralization from
Left: at ~97.6m in NFGC-23-1730, Right: at 59.0m in NFGC-23-1941,
Bottom Left: at ~63.3m in NFGC-23-1967, Bottom Right: at ~15.3m in
NFGC-22-914 ^Note that these photos are not intended to be
representative of gold mineralization in NFGC-22-914, NFGC-23-1730,
NFGC-23-1941, and NFGC-23-1967. (Photo: Business Wire)
Iceberg Alley Highlights:
Hole No.
From (m)
To (m)
Interval (m)
Au (g/t)
Zone
NFGC-23-19271
90.50
93.00
2.50
28.95
Iceberg Alley
Including
90.50
91.45
0.95
42.20
Including
91.80
92.10
0.30
105.00
NFGC-23-19361
48.95
52.65
3.70
6.04
Iceberg Alley
Including
48.95
49.45
0.50
10.51
Including
52.00
52.65
0.65
21.51
NFGC-23-19411
58.20
60.75
2.55
186.71
Iceberg Alley
Including
58.80
59.55
0.75
632.42
NFGC-23-19721
60.40
63.70
3.30
9.51
Iceberg Alley
Including
61.55
62.05
0.50
14.80
Including
63.25
63.70
0.45
50.80
NFGC-24-20352
150.90
152.90
2.00
12.46
Iceberg Alley
Including
150.90
151.45
0.55
25.89
Including
152.10
152.90
0.80
10.62
Table 1: Iceberg Alley Drilling
Highlights
Note that the host structures are interpreted to be steeply
dipping and true widths are generally estimated to be 170% to 95%
and 240% to 70%. 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.
- The highlight interval of 187 g/t Au over 2.55m in NFGC-23-1941
is part of a newly discovered zone called Iceberg Alley that was
intersected as part of a targeted program to follow the eastern
continuation of the Keats-Iceberg-Iceberg East corridor along the
high-grade KBFZ. Based on the fault characteristics observed at
Iceberg Alley, as well as the zone’s orientation, intensity, and
width of the damage zone, the Company’s preliminary interpretation
indicates that it is another displaced segment of the KBFZ, in a
northward direction.
- Additional highlights from immediate follow-up drilling include
29.0 g/t Au over 2.50m in NFGC-23-1927, 9.51 g/t Au over 3.30m in
NFGC-24-1972, and 12.5 g/t Au over 2.00m in NFGC-24-2035.
- These intervals currently define a high-grade domain that spans
30m wide by 60m deep, starting close to surface. Follow-up drilling
is planned at Iceberg Alley to follow this structure along strike
to the east.
Keats Highlights:
Hole No.
From (m)
To (m)
Interval (m)
Au (g/t)
Zone
NFGC-22-8861
192.15
194.20
2.05
23.82
Keats FW
Including
192.55
193.35
0.80
60.95
NFGC-22-8991
47.60
49.90
2.30
10.49
Keats Main
Including
47.60
48.05
0.45
38.94
NFGC-22-9141
11.85
26.15
14.30
1.71
Keats Main
Including
12.15
12.60
0.45
15.65
And4
578.25
584.00
5.75
7.85
Keats FW
Including
582.35
584.00
1.65
25.34
NFGC-22-9341
46.70
49.00
2.30
10.98
Keats Main
Including
46.70
47.35
0.65
37.63
NFGC-23-14872
13.95
25.25
11.30
1.15
Keats N
NFGC-23-17301
96.35
98.65
2.30
31.89
Keats N
Including
97.00
97.65
0.65
112.50
NFGC-23-17772
107.00
109.00
2.00
15.87
Keats FW
Including
108.00
109.00
1.00
31.40
NFGC-23-17934
85.30
87.55
2.25
12.52
Keats FW
Including
85.30
85.80
0.50
56.30
NFGC-23-18592
121.35
131.05
9.70
2.77
Keats N
Including
129.40
130.40
1.00
11.00
NFGC-23-18621
58.85
68.95
10.10
4.09
Keats Main
Including3
67.15
67.90
0.75
33.60
NFGC-23-19672
61.45
65.00
3.55
34.40
Keats FW
Including
63.25
64.05
0.80
148.96
Table 2: Keats Drilling Highlights
Note that the host structures are interpreted to be steeply
dipping and true widths are generally estimated to be 170% to 95%,
240% to 70%, and 310% to 40%. 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.
- At Keats, all results have now been received from a shallow
step-out program that utilized a barge-mounted drill situated on
South Hermans Pond. This program was designed to test the shallow
continuation of the KBFZ that was inaccessible from land. Today’s
results confirm the near-surface continuation of the Keats Main
Zone, a gold-mineralized segment of the KBFZ that has a strike
length of 575m and starts at surface.
- Highlights from the barge program include 34.4 g/t Au over
3.55m in NFGC-23-1967 which is hosted by the East-West Vein, a
known high-grade vein that was exposed by the Keats Trench and
found to contain a high concentration of coarse gold (November 17,
2023). This interval is 275m along strike, west of the exposed
segment in the trench.
- Drilling from both the barge and from on-land extensions of
drill holes originally targeting the Keats Main Zone expanded on a
series of mineralized structures located between the Keats Main
Zone and the AFZ. Within this domain of rock, there are several
lower-grade structures that trend parallel to the AFZ but also
contain domains of localized high-grade gold. Example highlight
intervals include 1.71 g/t Au over 14.30m in NFGC-22-914 located
~350m down-dip of NFGC-22-825, containing 20.8 g/t Au over 2.00m
and 11.6 g/t Au over 2.55m (December 5, 2022). NFGC-23-1777 located
a further 155m along strike to the southwest graded 15.9 g/t Au
over 2.00m. This area of mineralization immediately east of the AFZ
remains poorly tested at depth and will be a focus of future deep
drilling efforts.
Melissa Render, VP of Exploration of New Found, stated: “The
high-grade intercepts at Iceberg Alley are very encouraging. This
newly identified zone shares many features and characteristics with
the KBFZ which is host to the high-grade Keats, Iceberg, and
Iceberg East discoveries. Iceberg Alley was discovered in an
attempt to extend Iceberg East to beyond the Road Zone and our
preliminary interpretation indicates that Iceberg Alley likely
represents another displaced segment of the KBFZ. The KBFZ is known
to be important for concentrating high-grade gold and understanding
the location of this fault is significant for ongoing exploration
targeting.
“Meanwhile, at Keats, we have now received all of the results
from the barge program and we are pleased with the outcome, adding
critical information and delineating the up-dip extent of
mineralization associated with the Keats-Baseline Fault Zone
underneath South Hermans Pond in addition to adding continuity and
extent to the series of gold mineralized structures that exist
between the Keats Main Zone and the AFZ (Keats Footwall). This
program was completed on time, on budget, and with no incidents.
Exploration will now test the down-dip extensions of these
structures and target areas where they potentially interact with
structures interpreted in the seismic data.”
Drillhole Details
Hole No.
From (m)
To (m)
Interval (m)
Au (g/t)
Zone
NFGC-21-842*
87.00
89.25
2.25
1.15
Keats Main
And1*
101.40
106.50
5.10
1.17
And1*
155.00
157.15
2.15
1.12
Keats FW
And2
264.35
270.15
5.80
3.86
Keats N
Including
264.35
264.85
0.50
30.36
NFGC-21-1041*
214.50
225.90
11.40
29.11
Keats Main
Including*
214.50
215.10
0.60
89.40
Including*
216.00
217.10
1.10
236.21
And2
253.80
256.40
2.60
2.40
Keats FW
And4
347.45
354.95
7.50
1.65
And4
390.05
392.60
2.55
1.50
And4
445.45
447.55
2.10
3.66
NFGC-21-3241*
96.20
99.45
3.25
2.14
Keats Main
And1*
103.00
105.00
2.00
1.34
And1*
115.70
119.20
3.50
2.48
Including*
115.70
117.90
2.20
3.35
And4*
314.90
317.30
2.40
9.68
Keats FW
Including*
315.90
316.40
0.50
46.35
And4*
329.90
333.30
3.40
1.57
And4*
336.20
340.55
4.35
1.31
And4*
344.15
346.70
2.55
2.18
And4*
352.00
354.70
2.70
3.23
And4
370.65
372.70
2.05
2.41
NFGC-21-410B1*
139.65
142.00
2.35
1.18
Keats Main
And1*
174.20
176.50
2.30
1.81
And4
407.00
409.45
2.45
1.01
Keats FW
NFGC-22-8292
18.00
21.40
3.40
1.58
Keats N
And2
237.65
240.15
2.50
1.03
NFGC-22-8383
26.85
28.85
2.00
1.12
Keats N
NFGC-22-862
No Significant Values
Keats Main
NFGC-22-8694
644.00
648.30
4.30
1.06
Keats Main
And2
703.00
705.00
2.00
1.17
And4
741.00
743.00
2.00
3.55
NFGC-22-8781
126.00
128.00
2.00
1.37
Keats Main
And4
292.00
294.00
2.00
2.08
NFGC-22-8861
192.15
194.20
2.05
23.82
Keats FW
Including
192.55
193.35
0.80
60.95
And1
262.90
265.00
2.10
1.10
And1
302.00
304.00
2.00
1.88
NFGC-22-8871
59.30
63.60
4.30
6.28
Keats Main
Including
59.30
60.30
1.00
14.35
Including
62.45
62.95
0.50
10.36
And1
159.80
162.00
2.20
2.43
And4
216.00
218.00
2.00
2.11
Keats FW
NFGC-22-8894
453.80
456.20
2.40
1.95
Keats HW
And4
625.60
627.80
2.20
1.91
Keats Main
NFGC-22-8903
15.00
17.00
2.00
1.59
Keats FW
And3
51.00
53.00
2.00
1.60
And4
171.00
174.00
3.00
2.36
And4
190.00
192.00
2.00
8.77
NFGC-22-8991
47.60
49.90
2.30
10.49
Keats Main
Including
47.60
48.05
0.45
38.94
And3
72.50
77.00
4.50
2.80
And3
91.00
93.00
2.00
1.71
And2
105.00
107.00
2.00
1.06
NFGC-22-9031
132.75
135.00
2.25
1.15
Keats S
NFGC-22-9141
11.85
26.15
14.30
1.71
Keats Main
Including
12.15
12.60
0.45
15.65
And4
293.80
296.20
2.40
1.40
Keats FW
And4
578.25
584.00
5.75
7.85
Including
582.35
584.00
1.65
25.34
And4
597.75
600.80
3.05
1.00
NFGC-22-9164
44.00
46.65
2.65
6.03
Keats Main
Including
46.00
46.65
0.65
24.34
And1
55.35
57.40
2.05
1.23
NFGC-22-9341
46.70
49.00
2.30
10.98
Keats Main
Including
46.70
47.35
0.65
37.63
And1
53.75
59.80
6.05
1.17
And2
73.85
77.00
3.15
1.44
NFGC-22-991
No Significant Values
Keats N
NFGC-22-10684
234.50
237.00
2.50
1.16
Keats Main
And4
249.10
251.55
2.45
4.56
Including
249.10
250.00
0.90
11.68
NFGC-23-10991
78.70
80.80
2.10
1.21
421
And1
88.50
90.55
2.05
2.29
NFGC-23-11401
89.75
92.00
2.25
1.61
421
NFGC-23-1457
No Significant Values
Keats N
NFGC-23-1474
No Significant Values
Keats N
NFGC-23-14792
16.10
20.30
4.20
1.04
Keats N
And2
28.55
33.15
4.60
1.12
And3
56.65
60.00
3.35
5.62
Including
57.65
58.40
0.75
11.33
NFGC-23-14872
13.95
25.25
11.30
1.15
Keats N
And3
47.20
49.50
2.30
1.51
NFGC-23-15021
25.45
28.00
2.55
1.17
Keats N
NFGC-23-1504
No Significant Values
Keats N
NFGC-23-1510
No Significant Values
Keats N
NFGC-23-1513
No Significant Values
421
NFGC-23-1527
No Significant Values
421
NFGC-23-1547
No Significant Values
421
NFGC-23-15561
60.00
62.25
2.25
2.34
421
NFGC-23-1560
No Significant Values
421
NFGC-23-1565
No Significant Values
421
NFGC-23-1638
No Significant Values
Keats N
NFGC-23-1643
No Significant Values
Keats N
NFGC-23-16521
80.15
82.20
2.05
1.07
Keats N
NFGC-23-1665
No Significant Values
Keats N
NFGC-23-1672
No Significant Values
Keats N
NFGC-23-1674
No Significant Values
Keats N
NFGC-23-16791
133.30
135.85
2.55
3.01
Keats N
NFGC-23-16851
113.00
115.30
2.30
1.36
Keats N
And1
138.50
140.70
2.20
1.66
NFGC-23-1692
No Significant Values
Keats N
NFGC-23-1695
No Significant Values
Keats N
NFGC-23-1699
No Significant Values
Keats N
NFGC-23-1702
No Significant Values
Keats N
NFGC-23-17111
172.80
175.30
2.50
4.48
Keats N
Including
173.70
174.35
0.65
15.00
NFGC-23-17171
132.10
134.85
2.75
4.54
Keats N
Including
134.00
134.85
0.85
11.81
NFGC-23-1723
No Significant Values
Keats N
NFGC-23-17301
75.15
78.05
2.90
1.03
Keats N
And1
96.35
98.65
2.30
31.89
Including
97.00
97.65
0.65
112.50
NFGC-23-17371
102.50
105.00
2.50
2.05
Keats N
NFGC-23-1739
No Significant Values
Keats N
NFGC-23-1749
No Significant Values
Keats N
NFGC-23-17533
48.60
51.40
2.80
1.03
Keats FW
And2
95.10
101.35
6.25
1.25
NFGC-23-17601
59.35
61.50
2.15
1.00
Keats FW
NFGC-23-1767
No Significant Values
Keats FW
NFGC-23-1770
No Significant Values
Keats FW
NFGC-23-1774
No Significant Values
Keats FW
NFGC-23-17772
65.90
68.25
2.35
6.01
Keats FW
Including
65.90
66.65
0.75
18.10
And2
96.00
98.00
2.00
1.69
And2
107.00
109.00
2.00
15.87
Including
108.00
109.00
1.00
31.40
And2
137.15
140.90
3.75
1.19
NFGC-23-17821
94.25
96.40
2.15
1.88
Keats FW
NFGC-23-17871
81.70
83.70
2.00
1.17
Keats N
And2
103.60
105.80
2.20
1.08
And1
113.00
116.80
3.80
1.23
NFGC-23-17934
85.30
87.55
2.25
12.52
Keats FW
Including
85.30
85.80
0.50
56.30
And4
174.90
179.00
4.10
1.46
NFGC-23-1795
No Significant Values
Keats N
NFGC-23-17981
94.20
96.75
2.55
1.25
Keats N
NFGC-23-1804
No Significant Values
Keats FW
NFGC-23-1808
No Significant Values
Keats N
NFGC-23-1815
No Significant Values
Keats FW
NFGC-23-18193
57.85
62.95
5.10
2.00
Keats Main
And3
93.75
95.75
2.00
2.11
NFGC-23-1824
No Significant Values
Keats FW
NFGC-23-1825
No Significant Values
Keats FW
NFGC-23-1830
No Significant Values
Keats FW
NFGC-23-1831
No Significant Values
Keats HW
NFGC-23-1834
No Significant Values
Keats FW
NFGC-23-1839
No Significant Values
Keats FW
NFGC-23-1840
No Significant Values
Keats HW
NFGC-23-1845
No Significant Values
Keats FW
NFGC-23-18492
29.60
31.70
2.10
6.11
Keats Main
Including
31.00
31.70
0.70
16.56
NFGC-23-1850
No Significant Values
421
NFGC-23-18512
21.00
23.50
2.50
1.04
Keats N
NFGC-23-1854
No Significant Values
Keats Main
NFGC-23-1856
No Significant Values
421
NFGC-23-18572
11.40
14.30
2.90
1.07
Keats Main
And2
18.50
20.80
2.30
1.21
NFGC-23-18592
121.35
131.05
9.70
2.77
Keats N
Including
129.40
130.40
1.00
11.00
NFGC-23-18623
11.50
13.85
2.35
1.03
Keats Main
And1
58.85
68.95
10.10
4.09
Including
67.15
67.90
0.75
33.60
And1
78.15
80.95
2.80
1.87
NFGC-23-1863
No Significant Values
Keats S
NFGC-23-18674
26.90
29.40
2.50
1.40
Keats Main
And2
35.60
40.40
4.80
1.35
And1
99.10
101.65
2.55
1.78
NFGC-23-18753
30.85
33.10
2.25
1.12
Keats Main
NFGC-23-1878
No Significant Values
421
NFGC-23-18824
153.55
155.90
2.35
1.84
Keats FW
NFGC-23-18921
77.55
80.50
2.95
1.80
Keats N
NFGC-23-1896
No Significant Values
Keats N
NFGC-23-19011
37.85
39.85
2.00
4.14
Keats N
NFGC-23-19062
27.80
30.00
2.20
1.16
Keats FW
NFGC-23-1907
No Significant Values
Keats N
NFGC-23-1911
No Significant Values
Keats FW
NFGC-23-19163
69.65
74.25
4.60
1.01
Keats Main
NFGC-23-19231
62.40
70.00
7.60
1.68
Keats Main
Including
67.40
68.00
0.60
10.50
And1
83.00
89.25
6.25
1.98
Including
83.00
83.50
0.50
14.95
NFGC-23-19294
26.75
30.55
3.80
1.70
Keats N
NFGC-23-1930
No Significant Values
Keats Main
NFGC-23-19341
76.35
79.10
2.75
1.43
Keats Main
And2
100.95
104.15
3.20
1.77
NFGC-23-19372
88.60
90.60
2.00
1.14
Keats Main
NFGC-23-19441
39.90
41.95
2.05
1.25
Keats Main
And1
44.80
47.40
2.60
1.25
NFGC-23-1947
No Significant Values
Keats N
NFGC-23-19493
60.00
62.50
2.50
1.62
Keats FW
NFGC-23-1953
No Significant Values
Keats FW
NFGC-23-19583
61.85
64.00
2.15
1.16
Keats Main
And3
77.55
81.20
3.65
2.92
Including
80.45
81.20
0.75
10.40
NFGC-23-1961
No Significant Values
Keats FW
NFGC-23-19672
61.45
65.00
3.55
34.40
Keats FW
Including
63.25
64.05
0.80
148.96
NFGC-23-19694
23.00
25.75
2.75
1.44
Keats FW
NFGC-23-19744
42.10
45.40
3.30
1.88
Keats FW
NFGC-23-19783
42.75
45.65
2.90
1.07
Keats N
And3
73.50
77.45
3.95
1.09
And1
123.65
126.65
3.00
1.31
NFGC-23-19842
41.25
44.65
3.40
2.10
Keats N
NFGC-23-19892
56.60
63.40
6.80
1.20
Keats N
NFGC-23-14224
75.25
77.30
2.05
2.37
Road
NFGC-23-18971
149.50
152.00
2.50
1.80
Iceberg Alley
NFGC-23-1905
No Significant Values
Iceberg Alley
NFGC-23-19101
58.75
60.75
2.00
17.68
Iceberg Alley
NFGC-23-1917
No Significant Values
Iceberg Alley
NFGC-23-19271
90.50
93.00
2.50
28.95
Iceberg Alley
Including
90.50
91.45
0.95
42.20
Including
91.80
92.10
0.30
105.00
NFGC-23-19331
98.30
101.15
2.85
1.14
Iceberg Alley
NFGC-23-19361
48.95
52.65
3.70
6.04
Iceberg Alley
Including
48.95
49.45
0.50
10.51
Including
52.00
52.65
0.65
21.51
NFGC-23-19411
58.20
60.75
2.55
186.71
Iceberg Alley
Including
58.80
59.55
0.75
632.42
NFGC-23-1948
No Significant Values
Iceberg Alley
NFGC-23-1954
No Significant Values
Iceberg Alley
NFGC-23-1959
No Significant Values
Iceberg Alley
NFGC-23-1963
No Significant Values
Iceberg Alley
NFGC-23-19721
60.40
63.70
3.30
9.51
Iceberg Alley
Including
61.55
62.05
0.50
14.80
Including
63.25
63.70
0.45
50.80
NFGC-23-19761
60.45
62.55
2.10
3.58
Iceberg Alley
Including
60.45
60.80
0.35
18.65
NFGC-23-19801
72.20
74.40
2.20
2.96
Iceberg Alley
NFGC-23-1983
No Significant Values
Iceberg Alley
NFGC-23-1988
No Significant Values
Iceberg Alley
NFGC-23-1991
No Significant Values
Iceberg Alley
NFGC-23-1994
No Significant Values
Iceberg Alley
NFGC-23-1995
No Significant Values
Iceberg Alley
NFGC-23-1998
No Significant Values
Iceberg Alley
NFGC-23-2001
No Significant Values
Iceberg Alley
NFGC-23-2005
No Significant Values
Iceberg Alley
NFGC-24-2006
No Significant Values
Iceberg Alley
NFGC-24-20121
106.25
108.65
2.40
1.37
Iceberg Alley
NFGC-24-2016
No Significant Values
Iceberg Alley
NFGC-24-2022
No Significant Values
Iceberg Alley
NFGC-24-2023
No Significant Values
Iceberg Alley
NFGC-24-2032
No Significant Values
Iceberg Alley
NFGC-24-20352
150.90
152.90
2.00
12.46
Iceberg Alley
Including
150.90
151.45
0.55
25.89
Including
152.10
152.90
0.80
10.62
NFGC-24-2040
No Significant Values
Iceberg Alley
NFGC-24-2044
No Significant Values
Iceberg Alley
NFGC-24-2046
No Significant Values
Iceberg Alley
NFGC-24-2052
No Significant Values
Iceberg Alley
NFGC-24-2054
No Significant Values
Road
NFGC-24-2065
No Significant Values
Iceberg Alley
NFGC-24-20754
125.55
129.25
3.70
2.45
Iceberg Alley
And4
135.50
137.50
2.00
1.33
And4
146.25
148.65
2.40
1.39
Table 3: Summary of composite results
reported in this press release for Keats and Iceberg Alley
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. *Previously reported interval.
Hole No.
Dip (°)
Azimuth (°)
Length (m)
UTM E
UTM N
Prospect
NFGC-21-104
-45
300
471
658208
5427295
Keats
NFGC-21-324
-45.5
299
515
658067
5427348
Keats
NFGC-21-410B
-46.5
297
542
658075
5427285
Keats
NFGC-21-84
-45
300
362
658253
5427490
Keats
NFGC-22-1068
-90
0
296
658058
5427279
Keats
NFGC-22-829
-45
300
299
658311
5427813
Keats North
NFGC-22-838
-45
300
440
658150
5427590
Keats North
NFGC-22-862
-45
297
407
657800
5426839
Keats South
NFGC-22-869
-47
338
836
657845
5426815
Keats South
NFGC-22-878
-45
300
387
657844
5426936
Keats South
NFGC-22-886
-49
132
417
657887
5427612
Keats
NFGC-22-887
-57
10
228
657913
5427243
Keats
NFGC-22-889
-46
297
881
657842
5426410
Keats South
NFGC-22-890
-45
300
482
658151
5427559
Keats
NFGC-22-899
-45
345
150
657912
5427244
Keats
NFGC-22-903
-79
305
821
657801
5426839
Keats South
NFGC-22-914
-45
300
614
658199
5427532
Keats
NFGC-22-916
-56
350
240
657895
5427200
Keats
NFGC-22-934
-45
275
144
657894
5427200
Keats
NFGC-22-991
-45
300
581
658480
5428005
Keats North
NFGC-23-1099
-53
329
152
657756
5426958
Keats South
NFGC-23-1140
-45
300
188
657790
5427056
Keats South
NFGC-23-1422
-45
334
101
658980
5428285
Road
NFGC-23-1457
-45
32
48
658127
5427603
Keats North
NFGC-23-1474
-45
90
47
658129
5427602
Keats North
NFGC-23-1479
-78
355
95
658115
5427580
Keats North
NFGC-23-1487
-68
18
74
658114
5427581
Keats North
NFGC-23-1502
-76
68
62
658115
5427581
Keats North
NFGC-23-1504
-53
82
71
658115
5427581
Keats North
NFGC-23-1510
-62
127
74
658116
5427580
Keats North
NFGC-23-1513
-48
60
200
657889
5427018
Keats South
NFGC-23-1527
-45
70
113
657884
5426987
Keats South
NFGC-23-1547
-49
61
137
657823
5426971
Keats South
NFGC-23-1556
-45
70
101
657917
5426947
Keats South
NFGC-23-1560
-50
64
176
657891
5426900
Keats South
NFGC-23-1565
-45
51
212
657846
5426814
Keats South
NFGC-23-1638
-45
120
74
658100
5427681
Keats
NFGC-23-1643
-67
120
89
658100
5427681
Keats North
NFGC-23-1652
-45
120
203
658117
5427710
Keats North
NFGC-23-1665
-65
120
80
658117
5427710
Keats North
NFGC-23-1672
-45.5
119
128
658061
5427713
Keats West
NFGC-23-1674
-56
119
152
658060
5427713
Keats West
NFGC-23-1679
-70
119
182
658060
5427713
Keats West
NFGC-23-1685
-45.5
119
179
658069
5427679
Keats North
NFGC-23-1692
-60
120
155
658069
5427680
Keats North
NFGC-23-1695
-45.5
120
128
658055
5427663
Keats North
NFGC-23-1699
-58
120
143
658055
5427663
Keats North
NFGC-23-1702
-45
120
158
658020
5427649
Keats West
NFGC-23-1711
-60
88
185
658023
5427647
Keats West
NFGC-23-1717
-45
120
182
658009
5427627
Keats West
NFGC-23-1723
-65
120
155
658009
5427627
Keats West
NFGC-23-1730
-45
100
149
658034
5427584
Keats North
NFGC-23-1737
-45.5
165
122
658042
5427585
Keats North
NFGC-23-1739
-45.5
120
176
657984
5427581
Keats West
NFGC-23-1749
-67
120
140
657984
5427581
Keats West
NFGC-23-1753
-83
120
125
657984
5427581
Keats West
NFGC-23-1760
-45
120
125
657954
5427540
Keats
NFGC-23-1767
-80
120
131
657956
5427540
Keats
NFGC-23-1770
-45
75
83
657993
5427517
Keats
NFGC-23-1774
-45
68
83
657990
5427527
Keats
NFGC-23-1777
-80
120
185
657929
5427517
Keats
NFGC-23-1782
-45
120
128
657929
5427516
Keats
NFGC-23-1787
-45
120
140
657998
5427523
Keats
NFGC-23-1793
-68
155
182
657998
5427527
Keats
NFGC-23-1795
-62
120
219
658287
5427901
Keats North
NFGC-23-1798
-54
155
110
658036
5427582
Keats North
NFGC-23-1804
-47
120
137
658034
5427584
Keats North
NFGC-23-1808
-54
105
137
658032
5427584
Keats North
NFGC-23-1815
-45
65
50
657877
5427296
Keats
NFGC-23-1819
-48
44
110
657861
5427280
Keats
NFGC-23-1824
-54
7
69
657862
5427275
Keats
NFGC-23-1825
-45
300
122
657854
5427278
Keats
NFGC-23-1830
-46
274
137
657857
5427279
Keats
NFGC-23-1831
-45
125
123
658194
5427015
Keats
NFGC-23-1834
-45
225
101
657855
5427274
Keats
NFGC-23-1839
-70
340
80
657890
5427325
Keats
NFGC-23-1840
-45
125
225
658139
5427047
Keats
NFGC-23-1845
-45
300
149
657886
5427326
Keats
NFGC-23-1849
-45
68
86
657894
5427326
Keats
NFGC-23-1850
-45
10
81
658074
5426897
Keats South
NFGC-23-1851
-45.5
299
135
658355
5427788
Keats North
NFGC-23-1854
-55
106
93
657890
5427328
Keats
NFGC-23-1856
-45
135
165
658075
5426895
Keats South
NFGC-23-1857
-60
85
98
657865
5427276
Keats
NFGC-23-1859
-45
299
140
658333
5427772
Keats North
NFGC-23-1862
-72
27
101
657864
5427271
Keats
NFGC-23-1863
-45
85
249
658077
5426898
Keats South
NFGC-23-1867
-88
35
116
657865
5427272
Keats
NFGC-23-1875
-75
319
143
657855
5427269
Keats
NFGC-23-1878
-45
95
177
657904
5426895
Keats South
NFGC-23-1882
-72
292
185
657861
5427280
Keats
NFGC-23-1892
-52
115
116
658062
5427608
Keats North
NFGC-23-1896
-62
115
122
658062
5427608
Keats North
NFGC-23-1897
-46
345
206
659080
5428468
Iceberg Alley
NFGC-23-1901
-45
120
95
657935
5427488
Keats
NFGC-23-1905
-45
300
77
659080
5428585
Iceberg Alley
NFGC-23-1906
-46
120
71
657969
5427449
Keats
NFGC-23-1907
-45
300
116
658309
5427757
Keats North
NFGC-23-1910
-60.5
14.5
98
659081
5428585
Iceberg Alley
NFGC-23-1911
-45
300
101
657962
5427451
Keats
NFGC-23-1916
-50
120
131
657880
5427368
Keats
NFGC-23-1917
-65
302
230
659137
5428550
Iceberg Alley
NFGC-23-1923
-45.5
120
152
657843
5427329
Keats
NFGC-23-1927
-47
329
149
659137
5428551
Iceberg Alley
NFGC-23-1929
-45
299
318
658297
5427735
Keats North
NFGC-23-1930
-68
138
149
657843
5427327
Keats
NFGC-23-1933
-42
353
152
659137
5428551
Iceberg Alley
NFGC-23-1934
-45.5
156
113
657841
5427327
Keats
NFGC-23-1936
-45
325
77
659127
5428614
Iceberg Alley
NFGC-23-1937
-49
195
131
657844
5427324
Keats
NFGC-23-1941
-70
306
86
659127
5428614
Iceberg Alley
NFGC-23-1944
-45.5
121
71
657907
5427365
Keats
NFGC-23-1947
-45
299
164
658278
5427746
Keats North
NFGC-23-1948
-42
6
95
659128
5428616
Iceberg Alley
NFGC-23-1949
-45.5
121
107
657901
5427398
Keats
NFGC-23-1953
-65
341
104
657925
5427390
Keats
NFGC-23-1954
-51
333
92
659148
5428601
Iceberg Alley
NFGC-23-1958
-45
120
86
657935
5427410
Keats
NFGC-23-1959
-43
5
98
659149
5428602
Iceberg Alley
NFGC-23-1961
-45
120
92
657931
5427439
Keats
NFGC-23-1963
-64
5
95
659149
5428601
Iceberg Alley
NFGC-23-1967
-70
340
80
657939
5427407
Keats
NFGC-23-1969
-45
300
89
657903
5427397
Keats
NFGC-23-1972
-42
12
80
659081
5428586
Iceberg Alley
NFGC-23-1974
-45
300
116
657934
5427412
Keats
NFGC-23-1976
-45
338
104
659080
5428586
Iceberg Alley
NFGC-23-1978
-45
120
215
658172
5427880
Keats North
NFGC-23-1980
-65
323
92
659081
5428585
Iceberg Alley
NFGC-23-1983
-45
336
107
659055
5428602
Iceberg Alley
NFGC-23-1984
-45
94
122
658175
5427881
Keats North
NFGC-23-1988
-45
336
77
659070
5428623
Iceberg Alley
NFGC-23-1989
-45.5
78
137
658176
5427839
Keats North
NFGC-23-1991
-45
336
71
659095
5428629
Iceberg Alley
NFGC-23-1994
-45
336
50
659115
5428647
Iceberg Alley
NFGC-23-1995
-43
316
138
659136
5428551
Iceberg Alley
NFGC-23-1998
-57
317
149
659137
5428551
Iceberg Alley
NFGC-23-2001
-59
344
134
659137
5428552
Iceberg Alley
NFGC-23-2005
-61
336
146
659069
5428532
Iceberg Alley
NFGC-24-2006
-46
335
125
659069
5428533
Iceberg Alley
NFGC-24-2012
-66
3
146
659072
5428533
Iceberg Alley
NFGC-24-2016
-48
314
143
659071
5428534
Iceberg Alley
NFGC-24-2022
-65
20
59
659118
5428647
Iceberg Alley
NFGC-24-2023
-59
310
221
659028
5428384
Iceberg Alley
NFGC-24-2032
-45
327
164
658991
5428411
Iceberg Alley
NFGC-24-2035
-62.5
350
173
658991
5428411
Iceberg Alley
NFGC-24-2040
-60
320
122
658949
5428406
Iceberg Alley
NFGC-24-2044
-42
314
74
658968
5428452
Iceberg Alley
NFGC-24-2046
-70
344
152
658909
5428380
Iceberg Alley
NFGC-24-2052
-49
318
95
658909
5428381
Iceberg Alley
NFGC-24-2054
-57
2
215
658916
5428318
Road
NFGC-24-2065
-70.5
256
244
659050
5428486
Iceberg Alley
NFGC-24-2075
-66
295
239
659078
5428467
Iceberg Alley
Table 4: 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 3,500m of core is currently pending
assay results.
Sampling, Sub-sampling, and Laboratory
All drilling recovers HQ core. The 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. As of February 2024, gold
analysis at ALS has been performed by photon assay. 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 and
photon assay methods.
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 for fire assay, 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.
Samples submitted to ALS beginning in February 2024, received
gold analysis by photon assay whereby the entire sample is crushed
to approximately 70% passing 2 mm mesh. The sample is then riffle
split and transferred into jars. For “routine” samples that do not
have VG identified and are not within a mineralized zone, one
(300-500g) jar is analyzed by photon assay. If the jar assays
greater than 0.8 g/t, the remaining crushed material is weighed
into multiple jars and submitted for photon assay.
For samples that have VG identified, the entire crushed sample
is riffle split and weighed into multiple jars that are submitted
for photon assay. The assays from all jars are combined on a
weight-averaged basis.
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 0.8 g/t, the remaining crushed material is weighed into
multiple jars and submitted for photon assay.
For samples that have VG identified, the entire crushed sample
is weighed into multiple jars and 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 26, 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/20240326753015/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
