- New Found Gold (TSXV:NFG) has revealed it has begun surface trenching at the Iceberg Zone at its Queensway Project in Newfoundland
- The program will focus on digging between one and 12 metres of overburden covering the projection of the Iceberg Zone at the bedrock surface
- This will allow for a detailed analysis of the geological and structural models defined through drilling
- Shares of New Found Gold are up 4.01 per cent to C$3.89 as of 10:51 am ET
New Found Gold (TSXV:NFG) has revealed it has begun surface trenching at the Iceberg Zone at its Queensway Project in Newfoundland.
In a news release, the company stated the program will focus on digging between one and 12 metres of overburden covering the projection of the Iceberg Zone at the bedrock surface.
This will allow for a detailed analysis of the geological and structural models defined through drilling.
“Trenching along a 200-metre strike length of the Keats Zone in late 2023 has yielded a great deal of geological information and significantly strengthened confidence in our sub surface 3-D models,” Greg Matheson, chief operating officer of New Found Gold, said in a statement. “Having the ability to observe large surface exposures of mineralization provides added confidence beyond what can be garnered from drilling alone, paving the way for more accurate modelling.”
It is expected the trench will take eight to 10 weeks for completion followed by a geological mapping program, which is slated for completion in Q4 2024.
The Iceberg Zone begins roughly four metres below surface at bedrock and, when combined with the Iceberg East region, has been drill-defined over 680 metres of strike length and to depths of 180 metres.
The company is also currently completing a high-density surface channel sampling program that is expected to be completed in mid-July.
With headquarters in Vancouver, New Found Gold holds a 100 per cent interest in the Queensway Project in Newfoundland.
Shares of New Found Gold Corp. (TSXV:NFG) are up 4.01 per cent to C$3.89 as of 10:51 am ET.
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(Top photo of New Found Gold’s Queensway project: New Found Gold)
