- New Found Gold Corp. (NFG) announced positive results from five follow-up holes at the Keats West area on its Queensway Project
- Drilling intersected more high-grade gold, with mineralization starting close to the surface
- The new intercept is close to two previous high-grade gold intercepts, which were a part of a single structure
- The results confirmed that the host structure dips gently to the south-southwest
- Exploration drilling is ongoing, with two drills working to expand on this new discovery
- New Found Gold Corp. (NFG) is down 0.60 per cent and is trading at $4.96 per share as of 1:06 p.m. EST
New Found Gold (NFG) announced results from five follow-up holes on the high-grade gold at the Keats West area on its Queensway Project.
The Queensway Project is located in Newfoundland.
Drilling intersected more high-grade gold, with mineralization starting close to the surface. The highest new intercept is located 200 metres up-dip of two previously reported gold intercepts. The company shared these holes were all interpreted within the same host structure.
Multiple intercepts in the Keats West structure demonstrated broad low-grade gold domains which spanned over 50 metres and ranged in cumulative width from 18-30 metres.
These new results confirmed that the host structure dips gently to the south-southwest and is open along strike and down-dip. Exploration drilling is ongoing, with two drills working to expand on this new discovery.
Melissa Render, Vice President of Exploration for New Found Gold, stated,
“Today’s results affirm the significance of the Keats West discovery and indicate that drilling has locked onto a new structure with proven potential… The discovery of high-grade gold mineralization west of the Appleton fault is a relatively new advancement in addition to identifying an associated strong, low-grade gold domain.”
New Found Gold Corp. (NFG) is down 0.60 per cent and is trading at $4.96 per share as of 1:06 p.m. EST.