New Found Gold (TSXV: NFG; NYSE-AM:NFGC) says it has discovered a new zone and vein extending mineralization south of the Keats deposit at its Queensway project in central Newfoundland.
Drilling along the Appleton fault at the project, 15 km west of Gander, N.L., discovered the new Trans Canada Highway zone and the Rocket vein at the Knob target. The drill program also returned more intercepts from Keats Main South. It all increased the length of a high-grade gold corridor to 4.1 km, the company said in a news release on Wednesday.
“It is a lot of ground to cover but from a first pass of drilling, results indicate that the system’s strength continues,” Melissa Render, vice-president for exploration, said in the release. “We will persist with aggressive follow-up drilling which involves tracing the structures that are known to host high-grade gold.”
The 1,650-sq.-km. project covers more than 100 km of strike on two primary fault zones: Appleton and Joe Bates Pond.
Trans Canada Highway is in the footwall to the Appleton fault zone and has been intersected over a strike of 190 metres to a depth of 300 metres, New Found said.
April 25, 2024
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