- New Found Gold Corp. (NFG) has discovered new high-grade gold at the Appleton Fault Zone (AFZ) on its Queensway Project in Newfoundland
- The zone was explored from the Dome to Lotto North discoveries, where 48 drill holes were completed
- Drilling at the new Lotto North discovery intersected multiple high-grade gold intervals in five separate holes
- The company also intersected broad gold mineralization west of the AFZ and is currently doing follow-up drilling in the area
- New Found Gold Corp. (NFG) is down 1.67 per cent, trading at $5.31 per share as of 1:37 p.m. EST
New Found Gold Corp. (NFG) has discovered new high-grade gold at the Appleton Fault Zone (AFZ) on its Queensway Project in Newfoundland.
The zone was explored from the Dome to Lotto North discoveries, where 48 drill holes were completed as part of an ongoing program. According to the company, drilling at the new Lotto North discovery intersected multiple high-grade gold intervals in five separate holes.
The gold within the new structure has a strike length of 340 metres and a vertical depth of 180 metres, which remains open in all directions. When combined with the Lotto main zone, the high-grade gold-bearing structures have been defined over a total strike length of 630 metres.
New Found Gold also intersected broad gold mineralization west of the AFZ and close to the Zone 36 prospect during step-out drilling north of Lotto North. The company has defined this as an important new drill target which is currently being tested.
Melissa Render, Vice President of Exploration for New Found Gold, commented,
“We are encouraged by the results that Lotto North continues to deliver… We have already mobilized drills into this region for aggressive follow-up on the gold mineralization that has now been identified on both sides of the AFZ this far north.”
New Found Gold Corp. (NFG) is down 1.67 per cent, trading at $5.31 per share as of 1:37 p.m. EST.