- New Found Gold (NFG) has opened its new 25,000 sq. ft core facility in Gander, Newfoundland
- The facility is designed to support logging and processing of drill core from the ongoing 500,000 m drill campaign at the Queensway Project
- A new high-grade vein on the project recently yielded 50.3 g/t gold over 2.45 m
- New Found Gold is focused on its 100-per-cent owned Queensway Project with $90 million in capital to fund ongoing exploration
- New Found Gold (NFG) is up by 1.17 per cent, trading at $5.21 per share
New Found Gold (NFG) has opened its new 25,000 sq. ft core facility in Gander, Newfoundland.
The facility is designed to support logging and processing of drill core from the ongoing 500,000 m drill campaign at the Queensway Project. A new high-grade vein on the project recently yielded 50.3 g/t gold over 2.45 m.
The company built the facility within budget, and it is now receiving core from the project.
Participating local companies and contractors include Riverstone Construction, Gander Electrical and Mechanical, Lou’s Electrical, Cecon Engineering, Crosby Engineering, Landmark Surveys, Balsoms Plumbing and Heating, The Computer Shack and H. Wareham and Sons.
“As the Queensway Project continues to grow, adding the Giga-Shack will enhance the efficiency of drilling operations and provide much-needed additional office space for our exploration and pre-development team,” stated Greg Matheson, New Found’s COO.
“Newfoundland is fortunate to have both a highly skilled workforce of tradespeople and supportive communities that enable projects like Queensway to move forward efficiently and successfully,” he added.
New Found Gold holds a 100-per-cent interest in the Queensway Project in Newfoundland and Labrador. The current drill program is well-funded, with cash and marketable securities of approximately $90 million as of January 2023.
New Found Gold (NFG) is up by 1.17 per cent, trading at $5.21 per share as of 11:54 am EST.