New Found Gold (TSXV: NFG; NYSE-A: NFGC) announced new drill results from its Queensway gold project in Newfoundland and Labrador. The highlights include: 42.8 g/t gold over 14.95 metres, 47.6 g/t gold over 3.95 metres, and 22.9 g/t gold over 2.40 metres.
The company completed an initial MRE at Queensway. New Found Gold announced that it is fully funding a preliminary economic assessment, scheduled for completion in the late second quarter of this year.
Recent drilling continues to yield new discoveries along the strike and down dip of known gold zones. These results point to the district-scale potential of the 175,600-hectare project, which covers a 110 km strike extent along two prospective fault zones.
Melissa Render, president of New Found Gold, stated: “In these final drill results from the 2024 exploration program, we continue to intersect high-grade gold mineralization and expand both Dropkick and Pistachio. At Dropkick, we have now discovered gold mineralization both west and east of the AFZ. The continued results from Dropkick and Pistachio, located 8 and 11 km north, respectively, of the main resource area at Queensway, are highly encouraging and point to the potential for future near-surface resource expansion along the strike of this prolific gold mineralized system. We look forward to continuing to test the tenor and extent of these zones.”
The company has now released all drill results from the 2024 exploration program, which totaled 89,974 metres in 271 DDH. The results of 37,750 metres in 82 DDH were received after the cutoff date for inclusion in the initial MRE and will be included in the next MRE for the Project.
Based on the highly encouraging results received to date at Dropkick, New Found Gold plans to conduct follow-up drill testing beginning in June 2025, with work following at the soil anomaly located north of Pistachio.
Please see the company’s website at www.NewfoundGold.ca.
