- New Found Gold (NFG) is continuing to pull strong assays the Keats target on its Queensway High-Grade Gold Project in Newfoundland
- A recent intersect assayed at 44.5 grams per tonne of gold over 6.85 metres, as part of a larger 29.15-metre interest at 11.8 grams per tonne of gold.
- The company has now drilled two follow up holes surround the intersect, to further examine the nearby mineralisation
- The notable assay was hit 60 metres from the recently announced NFGC-19-01 hole, which assayed at 92.9 grams per tonne of gold across 19 metres
- The ongoing exploration program at the site remains ongoing and is expected to cover around 100,000 metres of drilling
- New Found Gold is up 1.55 per cent and is trading at C$4.60 per share
New Found Gold (NFG) is continuing to pull strong assays the Keats target on its Queensway High-Grade Gold Project in Newfoundland.
The ongoing 100,000-metres drill program recently uncovered an intersect containing abundant quartz veining, sulfides and visible gold, which was then hastily assayed.
The rushed results indicate the drill core contains 44.5 grams per tonne of gold over 6.85 metres, as part of a larger 29.15-metre interest at 11.8 grams per tonne of gold. The company has now drilled two follow up holes surround the intersect, to further examine the nearby mineralisation.
The notable assay was hit 45 metres downhole near the site’s 4750N fence line, just 60 metres from another compelling drill core recently intersected at the nearby NFGC-19-01 hole, which assayed at 92.9 grams per tonne of gold across 19 metres.
Denis Laviolette President of New Found Gold said the company was delighted to intersect this significant interval of high-grade gold mineralization.
“Historic work and more recent drilling at Keats have demonstrated gold mineralization over at least 300m of strike and the Keats target remains open in each direction along strike and to depth,” he said.
“The closer spaced drilling around NFGC-19-01 is yielding outstanding results and giving us valuable information about the spatial distribution and geometry of the high-grade gold mineralization,” he added.
Denis went on to say that a recent hole at site’s Lotto Zone, two kilometres north of Keats, has assayed at 41.2 grams per tonne over 4.75 metres, showing the potential for multiple high-grade zones along the region’s Appleton Fault Zone.
New Found Gold is up 1.55 per cent and is trading at C$4.60 per share at 2:52pm EST.