New Found Gold (TSXV:NFG; NYSE: NFGC) has discovered three new gold zones along the Appleton fault at its Queensway project 15 km west of Gander, Nfld. With the addition of the Monte Carlo, K2, and Everest zones, the mineralized envelope has been traced over an area 4.1 km long and 400 metres wide. The zones were intersected during New Found’s current 500,000-metre drill program.
The Monte Carlo zone occurs next to the Lotto zone but on the west side of the fault zone. Intervals of 12.3 g/t gold over 8.1 metres and 13.0 g/t over 4.8 metres were intersected. The mineralization is hosted by an east-west striking, brittle fault zone associated with continuous quartz veining over a current length of 150 metres.
The K2 zone occurs 725 metres north of the Lotto zone, again on the west side of the fault and adjacent to zone 36. It has already been traced over a strike length of 396 metres and to a depth of 250 metres and is open in all directions. Significant intersections include 28.5 g/t gold over 2.0 metres, 11.2 g/t over 4.3 metres, 8.9 g/t over 4.7 metres, and 1.4 g/t over 18.8 metres.
Systematic grid drilling on the east side of the Appleton fault cut a new area of veining, the Everest zone, 1.5 km northeast of the Lotto zone. Drilling returned 36.7 g/t gold over 3.7 metres and 28.7 g/t over 2.3 metres. The mineralization is spatially associated with a shear zone and is within close proximity to the fault.
Additional drill results from Lotto North and Dome were also reported.
At Lotto North, mineralization extends down drip to 200 metres, and when combined with Lotto, the strike length is 640 metres. Assays from Lotto North returned 11.5 g/t gold over 3.6 metres, 21.1 g/t over 2.2 metres, and 7.2 g/t over 4.6 metres.
At Dome, drilling targeted the hanging wall of the Appleton fault between Golden Joint and Dome. Assays from the high-grade portion of the Dome structure were 21.1 g/t over 7.7 metres. Dome remains open at depth and has been traced over 350 metres.
“Today we can stand back and look at an area measuring 4.1 km x 400 metres that is host to numerous zones. These zones can differ in their structural orientations and gold grades and thicknesses. Yet, in aggregate, they tell a story of an emerging district that focuses around the AFZ (Appleton fault zone) target envelope at its core,” said New Found VP exploration Melissa Render. “More drilling will undoubtedly connect more dots and help to paint a fuller picture.”
Visit the company’s website at www.NewFoundGold.ca.
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