New Found Gold (TSX-V: NFG, NYSE-A: NFGC) has temporarily suspended all exploration activities involving heavy equipment in or near forested areas, including drilling, mulching, and excavating at the company’s Queensway gold project in Newfoundland and Labrador. The suspension responds to the region’s forest fire risk.
New Found Gold owns a 100% interest in Queensway. The company has completed an initial mineral resource estimate (MRE) and preliminary economic assessment (PEA) for the project. Recent drilling continues to produce new discoveries along strike and down dip of known gold zones, highlighting the district-scale potential of the 175,450-hectare (1754 sq. km) project that spans a 110 km strike length across two prospective fault zones.
Keith Boyle, Chief Executive Officer, commented: “The Fire Weather index across the island of Newfoundland is classified as Extreme or Very High, with several major fires burning. At this time, our thoughts are with our employees and contractors, our local communities, and the people of Newfoundland and Labrador. On behalf of the entire New Found Gold team, I send our sincere thanks to the firefighters who are working tirelessly to battle the blazes currently burning in the province.”
The company expects to provide additional information when available. For further information on New Found Gold, please visit the company’s website at www.NewFoundGold.ca.
