New Found Gold (TSXV: NFG) reported channel sampling results from the Iceberg excavation in the AFZ Core at its 100%-owned Queensway gold project in Newfoundland and Labrador.
In late 2024, company work teams excavated a 220 metre by 105 metre area at Iceberg, exposing about 185 m of continuous strike beneath 2.5–9 m of overburden, and crews completed 964 m of channel sampling across 45 channel lines at nominal 7.5 metres spacing through mid‑2025 to systematically sample the exposed high‑grade domain. The channel program confirms continuous at‑surface, coarse high‑grade gold mineralization across the 185 metres strike of the Iceberg vein and generally matches the established geological and resource model while showing the local variability typical of a coarse free‑gold quartz vein system.
Highlight near‑surface channel intervals (channel thicknesses; quotations unchanged) include: 64.8 g/t gold over 6.71 metres (IB-25-01-10)”; 23.9 g/t gold over 15.12 metres (IB-25-01-16); 113 g/t gold over 2.99 metres (IB-25-01-18); 47.4 g/t gold over 7.36 metres (IB-25-01-40); 23.0 g/t gold over 13.74 metres (IB-25-01-08); and 117 g/t gold over 2.16 metres (IB-25-01-07), which form part of the 185 m continuous surface section.
New Found Gold began a 70,000 metres drill program in May 2025 (approximately 80% focused on the AFZ Core) and will continue excavations and channel sampling at additional near‑surface AFZ Core zones to validate the geological model and support the phase 1 mine plan.
Melissa Render, President of New Found Gold stated: “Our recently completed channel sampling program has further demonstrated the continuity of at-surface, high-grade gold mineralization across 185 m of continuous exposure at Iceberg, one of the zones we have targeted for phase I custom milling in the Queensway preliminary economic assessment. The ability to map and channel sample this and other key zones at Queensway is an important step in de-risking the project. As in the drilling of Iceberg, channel sampling returned broad intervals of coarse, high-grade gold mineralization. We look forward to following up this work with detailed grade-control drilling to inform our geostatistical analysis and continuing our channel sampling program at the Lotto excavation.”
For more information visit www.NewFoundGold.ca.
