- New Found Gold (NFG) has located a new gold zone area, while conducting an infill soil sampling program at its Queensway South project
- The site’s recently discovered Eastern Pond zone has returned two areas showing highly grade gold till results, with some of the samples grading at over 15 grams per tonne gold
- Samples returned high numbers of gold grains up to 216, of which 163 were graded as pristine
- Pristine gold indicates that the gold has not travelled a great distance, as travel scrapes and scratches it over time
- New Found Gold (NFG) is down one per cent and is trading at C$1.68 per share
New Found Gold (NFG) has located a new gold zone area, while conducting an infill soil sampling program at its Queensway South project.
The site’s recently discovered Eastern Pond zone has returned two areas showing highly grade gold till results, with some of the samples grading at over 15 grams per tonne gold.
The zone sits along the same regional fault that New Found Gold is drilling 45 kilometres to north at the Queensway North project. Puzzlingly, neither of the samples correlate to any known gold-in-bedrock samples, making this a true grassroots gold discovery.
One of the soil samples yielded 216 gold grains, and163 were assessed as pristine. A further cluster of samples yielded 155 gold grains, with 127 graded as pristine.
This indicate the gold has not travelled a large distance from the source, as travel scrapes and scratches the gold over time.
Greg Matheson, Chief Operating Officer of New Found Gold said the discovery was a true grass roots find. Which had improved the assessment of the site’s previous gold-in-soil anomalies.
“We will not trench the Eastern pond target and plan to move a drill into the area this fall.
“Our 2020 field work continues on Queensway South and we look forward to further results from our ongoing infill sampling work on the other large gold0in0soil till anomalies defined by our regional sampling,” he said.
New Found Gold (NFG) is down one per cent and is trading at C$1.68 per share at 12:15 am EDT.