- New Found Gold (NFG) is reporting results from its latest exploration program
- The Vancouver-based mineral exploration company is releasing results from 36 diamond drill holes on its Queensway Project
- The project covers 1,650 square kilometres in Gander, Newfoundland
- Results included 117 grams per tonne of gold over 2 metres
- New Found Gold is up 2.94 percent, trading at $6.66 at 2:04 pm ET
New Found Gold (NFG) is reporting results from its latest exploration program.
The Vancouver-based mineral exploration company is releasing results from 36 diamond drill holes on its Queensway Project.
The project covers 1,650 square kilometres in Gander, Newfoundland.
Work stems from the project’s Appleton Fault Zone, immediately north of the Keats Zone.
Exploration is part of an ongoing systematic drill program exploring highly prospective segments of the zone.
Results included 117 grams per tonne of gold over 2 metres and 36.5 grams per tonne over 2.15 metres.
Several holes into the Keats North prospect contained significant intervals.
The Keats North prospect consists of a complex network of brittle fault zones that host a number of high-grade gold-bearing veins that have been defined over an area 150 metres wide by 630 metres strike.
“As drilling progresses at Keats North, new domains of high-grade have been encountered in various locations throughout this stretch along the AFZ. The structure in this region is complex, but with additional drilling and new data points, the interpretation is evolving, and several high-grade targets have been identified for prompt follow-up. Both high- and low-grade results are mapping out a substantial domain of gold mineralization that we are keen to pursue. Given its proximity to the Keats-Baseline Fault and the connection via structure to the Keats Main Zone, we are very encouraged by the results reported to date and look forward to what the targeted follow-up programs have to bring,” said New Found Gold VP of Exploration Melissa Render.
New Found Gold is up 2.94 percent, trading at $6.66 at 2:04 pm ET.
