- New Found Gold (TSXV:NFG) reveals Phase II metallurgical testing program at its Queensway Project in Newfoundland
- These results surpass earlier Phase I tests, which reported gold extractions between 90.1 per cent and 96.7 per cent from other zones, indicating consistent mineralization quality across the Queensway Project.
- New Found Gold is advancing further testing on the Keats West zone, with results expected in Q2 2025
- Shares of New Found Gold are up 1.61 per cent to C$3.15 as of 11:05 am ET
New Found Gold (TSXV: NFG) has announced encouraging results from its 2024 Phase II metallurgical testing program at its Queensway Project in Newfoundland.
In a news release Friday, the company stated the program focused on drill core samples from the Iceberg and Iceberg East zones at the project.
The Phase II testing involved creating 46 variability composites from approximately 340 metres of drill core for a total of 1,400 kilograms. The weighted average gold extraction from these samples reached 96.9 per cent and was notably achieved using gravity separation and conventional carbon-in-leach (CIL) techniques on the gravity tails.
“The Iceberg and Iceberg East zones exhibit similar geology and mineralization to the previously reported Keats Main zone,” Rob Hampton, chief development officer of New Found Gold, said in a statement. “The high-grade materials observed at the Queensway Project yield excellent gold recoveries, confirming that mineralization from these zones can be effectively processed using standard gravity separation and CIL technology.”
In addition to the positive outcomes from the Iceberg zones, New Found Gold will now proceed with additional metallurgical testing focused on Keats West. Composites from this area have already been selected and sent to Base Metallurgical Laboratory Ltd., with results expected in Q2 2025.
With these results, New Found Gold continues to advance its exploration and development efforts at the Queensway Project.
With headquarters out of Vancouver, New Found Gold is focused on the acquisition, exploration, and evaluation of resource properties with an emphasis on gold properties in Newfoundland and Labrador.
Shares of New Found Gold (TSXV:NFG) are up 1.61 per cent to C$3.15 as of 11:05 am ET.
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(Top image: New Found Gold)