New Found Gold (TSXV:NFG; NYSE:NFGC) shared the results of 18 diamond drill holes in the newly discovered Jackpot zone. This is an east-west striking, steeply dipping, high-grade vein located on the east side of the Appleton Fault zone, which makes up part of the company’s wholly owned Queensway project 15 km west of Gander, Newfoundland.
The best hole was NFGC-23-1523 which encountered high-grade gold mineralization from 79 to 86 metres, where it remains open. This hole returned 18.23 g/t gold over 6.8 metres and 73.76 g/t over 1.6 metres. A second intersection returned 2.4 metres that assayed 1.23 g/t gold beginning at 116.8 metres below surface.
The Jackpot zone is now outlined along a strike length of 345 metres, and the zone is drill defined to a depth of 235 metres. The discovery hole reported in June 2023, returned 95.7 g/t gold over 3.3 metres. The Jackpot zone is similar to the neighbouring Lotto zone, an epizonal vein-filled structure.
New Found Gold is in the midst of a 500,000-metre drill program at Queensway.
Find the latest technical report for Queensway on www.NewFoundGold.ca.