New Found Gold (TSXV: NFG; NYSE: NFGC) continues to intersect high-grade gold at its Queensway project 15 km west of Gander, Newfoundland. This time the results are from the K2 zone located 725 metres north of the Lotto zone and 2.2 km north of the Keats West zone on the west side of the Appleton Fault zone.
The high-grades are nothing if not encouraging: 27.5 g/t gold over 7 metres and 8.69 g/t gold over 12 metres. These results and other from the latest round of drilling allowed New Found to extend the known high-grade zone to surface.
“As we continue to expand and target specific areas within the K2 fault network with the drill bit, the results have strengthened and we have identified multiple domains of high-grade gold in addition to broad intersections of gold mineralization,” said VP exploration Melissa Render. “Characterized by high-grade gold mineralization starting at surface with a shallow dip, this zone is accessible to explore at depth with minimal meters as it remains open and continues to deliver encouraging results.”
Here are the highlights from the K2 zone:
- 27.5 g/t gold over 7.0 metres and 3.39 g/t gold over 9.6 metres in NFGC-23-1729 and 8.69 g/t gold over 12.3 metres in NFGC-23-1786 were intersected as part of a program designed to extend a high-grade domain of the K2 structure back to surface and occur between 22 and 43 metres from surface.
- Additional near-surface results from ongoing expansion and definition drilling include 3.48 g/t gold over 25.3 metres and 22.0 g/t gold over 2.4 metres in NFGC-23-1783, 6.18 g/t gold over 9.9 metres and 3.01 g/t gold over 8.4 metres in NFGC-23-1709, 3.14 g/t gold over 18.5 metres in NFGC-23-1904, and 19.4 g/t gold over 2.7 metres in NFGC-23-1993. All intervals occur shallowly above 65 metres vertical depth and demonstrate strong continuity of gold mineralization across the K2 structure.
K2 is a gold mineralized system made up of multiple structures and crosscutting vein orientations that now spans a footprint 490 metres long and 395 metres wide. The gold mineralization begins at surface and has been drill-defined down to a maximum vertical depth of 250 metres, where it remains open.
Much of the gold at K2 is found in the K2 Main structure, a low-angle gold-bearing fault zone starting at surface that dips 40° to the south and shares a similar orientation to Keats West. K2 Main is made up of a complex network of associated structures forming a mineralized damage zone that averages 65 metres in thickness. Today’s highlighted intervals in NFGC-23-1729 and NFGC-23-1786 both occur within K2 Main.
The mineralization style at K2 consists of a series of stockwork and fault-fill style quartz veins with orientations that parallel K2 Main and crosscut it forming a broad domain of brittle faults with gold mineralization. Many of these veins start at surface and additional drilling is required to fully define this network.
New Found is working on a 650,000-metre drill program at Queensway, and about 7,000 metres of core is pending assay results.
Learn more on www.NewFoundGold.ca.
