- New Found Gold Corp. (NFG) has discovered several new gold zones and extensions on its Queensway Project in Newfoundland
- Results from the Apple Fault Zone corridor defined more high-grade gold mineralization
- This included the discovery of the new Trans Canada Highway Zone and new veins and structures around known zones
- Roughly 51,000 metres of core drilling is pending assay results on the project
- New Found Gold Corp. (NFG) is down 1.75 per cent, trading at $5.06 per share as of 11:28 a.m. EST
New Found Gold Corp. (NFG) has discovered several new gold zones and extensions at the Appleton Fault Zone (AFZ) on its Queensway Project in Newfoundland.
Results from the AFZ corridor defined more high-grade gold mineralization, which extended 1.5 kilometres south of the Keats Zone. This included the discovery of the new Trans Canada Highway Zone and new veins and structures around known zones.
The high-grade corridor of gold along the AFZ was traced over 4.1 kilometres from Lotto North down to Knob, which the company said is still under-explored.
At Knob, a new vein called Rocket was discovered 100 metres to the east, which intersected high-grade gold close to the surface. The Knob zone is a historical discovery with mineralization hosted within an east-west striking structure.
Melissa Render, Vice President of Exploration for New Found Gold, stated,
“We will persist with aggressive follow-up drilling, which involves tracing the structures that are known to host high-grade gold and determining the controls responsible for producing both high and low-grade gold domains from which we can expand on.”
The company is currently working on a 500,000-metre drill program at the Queensway Project. Roughly 51,000 metres of core drilling is pending assay results.
New Found Gold Corp. (NFG) is down 1.75 per cent, trading at $5.06 per share as of 11:28 a.m. EST.