New Found Gold has released initial results for hole NFGC-20-26, which was drilled at the Keats zone within the company’s wholly owned Queensway gold project in Newfoundland, 15 km west of Gander.
The drillhole hit 29.2 metres of 11.8 g/t gold starting at 45 metres, and includes a higher-grade interval of 6.9 metres grading 44.5 g/t gold. The associated drill core interval features quartz veining with sulphides and visible gold.
This interval is approximately 60 metres southwest of last year’s discovery hole, NFGC-19-01, which returned 19 metres of 92.9 g/t gold. According to the release, the high-grade interval above “displays characteristics suggestive of an epizonal orogenic depositional environment.”
In a release, Denis Laviolette, New Found Gold’s president, noted how the company is targeting additional mineralization at the Keats target.
“We are delighted to intersect this significant interval of high-grade gold mineralization 60 metres south of discovery hole NFGC-19-01. Historic work and more recent drilling at Keats have demonstrated gold mineralization over at least 300 metres of strike and the Keats target remains open in each direction along strike and to depth. We are continuing to drill on grid lines at 50-metre spacing to the north and south of NFGC-19-01 and anticipate further results from this drilling in the next several weeks.”
The company has completed two additional holes on the same fence line as NFGC-20-26 and is also completing 10-metre stepouts from NFGC-19-01. The assays are pending.
New Found Gold wholly owns the 1,500-sq.-km project, where a 100,000-metre drill program is underway.