The latest drill results have allowed New Found Gold (TSXV: NFG; NYSE-A: NFGC) to extend the near-surface, high-grade part of the Iceberg-Iceberg East zone to 655 metres. The zones are part of the 100%-owned Queensway gold project located 15 km west of Gander, Newfoundland.
Here are assays from three of the best holes in the Iceberg East zone. Hole NFGC-23-1235 returned 7.56 g/t gold over 13.4 metres, including 91.75 g/t over 0.8 metre. Hole NFGC-23-1608 returned 15.38 g/t over 5.1 metres, including 63.73 g/t over 1.1 metre. Hole NFGC-23-1942 returned 14.82 g/t over 3.5 metres, including 63.71 g/t gold over 0.8 metre.
“This first phase of near surface exploration drilling is complete at Iceberg East, and we are very pleased with the success of this shallow program that extended the KBFZ to 1.9 km of strike and identified new zones of continuous high-grade, near-surface gold mineralization,” said VP exploration Melissa Render. “With only a few assays pending we are now ready to expand on what we know and target the Keats-Baseline Fault deeper down. There is currently over 1.9 km of strike to test at depth and the company will be utilizing the recently acquired seismic data to identify locations of interest within the KBFZ for immediate drilling.”
New Found has had many bonanza assays from the various zone at the Queensway project, some over 100 g/t gold.
Detailed results of recent drilling are posted on www.NewFoundGold.ca.
April 25, 2024
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