New Found Gold Corp. Reports Promising Results from Drill Program
New Found Gold Corp. (TSXV-NFG; NYSE-NFGC) has recently released the results of their latest drill program at the Iceberg and Iceberg East discoveries. These high-grade zones are located along the highly prospective Appleton fault zone (AFZ), approximately 300 meters northeast of Keats Main. The company’s Queensway project, which covers a vast 1,662-square-kilometer area, is easily accessible via the Trans-Canada Highway, just 15 km west of Gander, Newfoundland.
Iceberg Highlights
One of the standout results from the drill program is an interval of 14.0 g/t gold over 9.05 meters in hole NFGC-23-1088. This impressive find was made just 23 meters below the surface at the Iceberg site. It is worth noting that this hole is located 16 meters up dip from a previously reported discovery of 105 g/t Au over 27.05 meters in hole NFGC-23-1210 (June 5, 2023). Additionally, it is situated 135 meters southwest of another significant find of 29.4 g/t gold over 7.75 meters in hole NFGC-23-1380. These results further demonstrate the remarkable continuity of high-grade gold at Iceberg, even at very shallow depths.
Iceberg East Drilling
The drilling at Iceberg East, located 365 meters to the east, has also yielded promising results. This area is part of the Keats-Baseline fault zone (KBFZ) high-grade gold system, which has proven to be robust. Notable intervals include 32.4 g/t gold over 2.55 meters in hole NFGC-23-1599, 6.65 g/t gold over 10.10 meters in hole NFGC-23-1586, and 7.95 g/t gold over 5.55 meters and 1.14 g/t gold over 10.70 meters in hole NFGC-23-1517. It is important to mention that all of these intervals occur above 65 meters in vertical depth.
Conclusion
The recent drill program conducted by New Found Gold Corp. has delivered highly encouraging results at the Iceberg and Iceberg East discoveries. The presence of high-grade gold at shallow depths is a promising sign for the company’s Queensway project. These findings further solidify the potential of the Appleton fault zone (AFZ) and the Keats-Baseline fault zone (KBFZ) as significant gold-bearing systems. New Found Gold Corp. continues to demonstrate its commitment to exploration and the pursuit of valuable mineral resources.
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