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New Found Gold Corp (NFGC) is a dynamic mineral exploration company dedicated to the acquisition, exploration, and evaluation of gold resource properties. With a strategic focus on the Provinces of Newfoundland and Labrador and Ontario, Canada, the company has positioned itself as a significant player in the gold exploration sector.
The company's flagship project, the Queensway Project, is situated in Newfoundland, Canada. This project is a cornerstone for New Found Gold Corp and has shown promising potential in uncovering substantial gold resources. The exploration efforts at Queensway are aimed at discovering and delineating extensive gold deposits, setting the stage for future developments and potential production.
New Found Gold Corp is committed to leveraging advanced exploration techniques and technologies to maximize the potential of its properties. Recent achievements in the company's exploration programs have highlighted significant progress, with notable discoveries that have drawn attention within the mining industry.
Financially, the company maintains a prudent approach, ensuring robust financial health to support its exploration activities. Strategic partnerships and collaborations with industry leaders have further strengthened New Found Gold Corp's position, providing access to expertise and resources that enhance their exploration capabilities.
As New Found Gold Corp continues its journey, its focus remains on creating value for its shareholders through diligent exploration and the strategic development of its gold properties. The company's commitment to responsible exploration practices and its proactive approach in updating stakeholders on its progress make it a noteworthy entity in the mineral exploration landscape.
New Found Gold Corp. (TSXV: NFG) (NYSE-A: NFGC) has initiated work on a maiden resource estimate and preliminary economic assessment (PEA) for its Queensway Project, located 15km west of Gander, Newfoundland. The company has engaged SLR Consulting to deliver these assessments, with completion expected in Q2 2025. The PEA will provide the first evaluation of mineral inventory and project economics, including cash flows, NPV, IRR, and payback period. The study aims to identify development scenarios, demonstrate financial potential, and define future work programs for project advancement.
New Found Gold Corp (NYSE-A: NFGC) has reported positive Phase II metallurgical test results from its Queensway Project's Iceberg and Iceberg East zones. The testing, conducted on 46 Variability Composites from 340 metres of drill core, demonstrated an average 96.9% gold extraction rate using gravity separation and conventional carbon-in-leach (CIL) technology. These results align with earlier Phase I testing at Keats Main, Golden Joint, and Lotto zones, which showed extraction rates between 90.1% and 96.7%. The company is now conducting additional testing at Keats West, with results expected in Q2 2025.
New Found Gold Corp (NYSE-A: NFGC) has announced significant drilling results from its Queensway Project, including a new discovery called 'Golden Dome.' Key highlights include intersections of 343 g/t Au over 2.15m, 40.6 g/t Au over 2.20m, and 9.51 g/t Au over 7.45m. The Golden Dome zone is located between Golden Joint and Dome, in a previously untested gap spanning 500m, and occurs 200m below existing drilling at Dome. The company has increased its drilling capacity to eight rigs, with five at Queensway and three at the recently acquired Kingsway Project.
New Found Gold Corp (TSXV: NFG) (NYSE-A: NFGC) announced significant drilling results from its Kingsway Project, including notable intercepts of 105 g/t Au over 2.10m and 10.4 g/t Au over 4.45m at the Pistachio Zone. Additional highlights include 36.7 g/t Au over 2.00m at Jackpot and 8.44 g/t Au over 4.10m at Honeypot. The Kingsway Project, which adjoins the northern border of the Queensway Project, has demonstrated high-grade gold mineralization extending well north of the Queensway area. The Honeypot high-grade domain shows good continuity over 170m in strike and 230m down dip.
New Found Gold Corp. (TSXV: NFG) (NYSE-A: NFGC) has announced the acquisition of the remaining 1% net smelter returns royalty on its Golden Bullet property for $1,000,000 in cash. This follows the company's previous purchase of 0.6% of the 1.6% royalty announced on July 30, 2024. The Golden Bullet property is a key target area of the Queensway Project, covering the extension of Keats South and several other zones along a 5km segment of the Appleton Fault.
CEO Collin Kettell stated that this purchase marks an important milestone for the Queensway Project, positioning New Found with a minimal outstanding royalty burden of 0%-0.4% on key zones along the Appleton North corridor. The acquisition encompasses the recent discovery of deep mineralization at Keats South and other notable zones in the area.
New Found Gold Corp. (TSX-V: NFG, NYSE-A: NFGC) has announced high-grade gold results from channel samples at the Keats Trench of its Queensway Project in Newfoundland. Highlights include 300 g/t Au over 5.1m and 215 g/t Au over 5.2m, confirming good continuity of high-grade mineralization. The trench exposed a 50m by 50m surface expression of a key high-grade corridor within the Keats-Baseline Fault Zone.
The Phase I channel sampling program covered a 200m long by 70m wide stripped bedrock surface with a 27-line sampling grid. A Phase II program is ongoing to increase sample density along high-grade veins. The company is also 80% complete with excavation at the Iceberg Trench, which will expose 220m of strike length over a 105m wide area.
New Found Gold Corp. (TSX-V: NFG, NYSE-A: NFGC) has announced the acquisition of royalty interests on its Golden Bullet property at the Queensway Project. The company will purchase 0.6% of a 1.6% net smelter returns royalty for $1.95 million in cash and 300,000 common shares. New Found retains the right to buy the remaining 1% royalty for $1 million by November 2024. The Golden Bullet property covers key target areas including Keats South, TCH, Knob, Bullet, Rocket, and Quarry zones. This transaction follows a previous royalty purchase in 2021, ensuring minimal royalty burdens on significant mineralized zones along the Appleton Fault Zone. The company views this as a strategic move to maximize the future potential of Queensway.
New Found Gold Corp. (NFGC) announces results from 11 diamond drill holes at the Queensway Project. The deep drilling program, initiated in March, confirms high-grade gold mineralization, extending to 820m depth—doubling the system's known vertical extent. Nine new gold zones were discovered within a 3km strike, with six zones containing visible gold, showing assay values as high as 57.1 g/t Au. Significant intervals include 2.65m at 10.98 g/t Au in Keats South and 2.15m at 12.01 g/t Au in Iceberg-AFZ.
These new zones exhibit epizonal-style gold mineralization, enhancing the 3-D seismic model and improving targeting for future drilling. The company is utilizing directional drilling to expedite follow-up exploration. The ongoing 650,000m drill program aims to further delineate the gold system's extent and improve geological models.
New Found Gold Corp. (TSX-V: NFG, NYSE-A: NFGC) has completed the acquisition of a 100% interest in Labrador Gold’s Kingsway Project, located in Gander, Newfoundland and Labrador. This acquisition includes related assets from LabGold. As consideration, New Found Gold issued 5,263,157 common shares to Labrador Gold. This strategic acquisition is aimed at expanding New Found Gold's asset base and potential resource holdings in a prolific mining region.
New Found Gold Corp. has launched surface trenching at the Iceberg Zone of its Queensway Project in Newfoundland. The trenching will remove 1-12 meters of overburden to expose 220m of strike length over a 105m wide area. This will aid in detailed geological analysis. Excavation is expected to take 8-10 weeks, with mapping set for Q4 2024. Previous drilling has highlighted robust gold grades, including 10.75m at 15.42 g/t Au and 5.85m at 40.51 g/t Au. An ongoing channel sampling at the Keats Zone, started in May 2024, is set to complete by mid-July 2024. Additionally, the company provided an update on its equity offering, issuing 2,925,552 shares at an average of C$4.71, raising C$13.78 million in the last quarter.
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