New Found Gold (TSXV: NFG; NYSE-A: NFGC) announced the results from 10 diamond drill holes at the Queensway gold project 15 km west of Gander, Nfld., as it targets depth extensions along the Appleton Fault zone. It also released assays for eight holes testing near surfaced targets adjacent to Alley and Keats South. The assays, as expected, continue to indicate long and strong intersections.
The company has also made a new discovery between the Golden Joint and Dome targets at depth in what it calls the Golden. Hole 2158 returned high-grade gold over a nearly 30-metre down-hole interval. Several intercepts were made with a cumulative length of 11.8 metres, including 343 g/t over 2.2 metres (which contained a 1,230 g/t sample over 0.6 metre core length), 9.51 g/t over 7.5 metres, and 40.6 g/t over 2.2 metre.
New Found said in a release that these preliminary results suggest that the Golden Dome is part of a larger mineralized network connecting Dome to Golden Joint and has a combined strike length of 750 metres and extending to depths of 375 metres. Follow-up drilling is ongoing.
“As announced recently on Oct. 24, 2024, the results from the Pistachio discovery at Kingsway show the advancement of scale of the mineralized system made in 2024 at surface, along strike. Paired with our ongoing success at depth, we are seeing a significant increase in the mineralized footprint at Queensway,” said COO Greg Matheson. “We have now received results from 21 deep drill holes, leading to the discovery of 11 new zones at depth. Our target pipeline for growth is strong and we recently doubled the number of active drill rigs at the project to more rapidly advance and define many of these new high-grade discoveries.”
The company continues its deep drilling program at Keats South where two broad domains of gold-bearing quartz veins on both sides of the Appleton Fault zone have been drilled, and they are similar to the high-grade segments of the Keats Baseline Fault zone. Hole 2135 made another new discovery that included 13.7 g/t gold over 4.9 metres, including 40.6 g/t over 1.5 metre at a depth of 500 metres in the Appleton Fault zone.
New Gold has drilled over 100,000 metres at the Queensway project this year as part of a 650,000-metre drill program that continues.
More information is posted on www.NewFoundGold.ca.
