NEW FOUND INTERCEPTS 105 G/T AU OVER 2.10M & 10.4 G/T AU OVER 4.45M AT "PISTACHIO" ZONE AT KINGSWAY, HITS 36.7 G/T AU OVER 2M AT JACKPOT
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) ha annunciato risultati significativi di perforazione dal suo Progetto Kingsway, inclusi notevoli intercettazioni di 105 g/t Au su 2,10m e 10,4 g/t Au su 4,45m nella Zona Pistachio. Ulteriori elementi salienti includono 36,7 g/t Au su 2,00m a Jackpot e 8,44 g/t Au su 4,10m a Honeypot. Il Progetto Kingsway, che si trova al confine settentrionale del Progetto Queensway, ha dimostrato mineralizzazione aurifera ad alta legge che si estende bene a nord dell'area di Queensway. Il dominio ad alta legge di Honeypot mostra una buona continuità su 170m di strike e 230m di discesa.
New Found Gold Corp (TSXV: NFG) (NYSE-A: NFGC) anunció resultados significativos de perforación de su Proyecto Kingsway, incluyendo interceptaciones notables de 105 g/t Au sobre 2.10m y 10.4 g/t Au sobre 4.45m en la Zona Pistachio. Otros aspectos destacados incluyen 36.7 g/t Au sobre 2.00m en Jackpot y 8.44 g/t Au sobre 4.10m en Honeypot. El Proyecto Kingsway, que limita con el borde norte del Proyecto Queensway, ha demostrado mineralización de oro de alta ley que se extiende bien al norte del área de Queensway. El dominio de alta ley de Honeypot muestra buena continuidad sobre 170m en strike y 230m en caída.
New Found Gold Corp (TSXV: NFG) (NYSE-A: NFGC)는 Kingsway 프로젝트에서 significant drill results를 발표했습니다. 여기에는 2.10m에서 105 g/t Au 및 4.45m에서 10.4 g/t Au의 주목할 만한 간섭이 포함됩니다. 추가 하이라이트로는 Jackpot에서 2.00m에 36.7 g/t Au와 Honeypot에서 4.10m에 8.44 g/t Au가 있습니다. Kingsway 프로젝트는 Queensway 프로젝트의 북쪽 경계와 인접해 있으며, Queensway 지역의 북쪽으로 상당한 고도 금 광상(mian zyang) 을 시연하게 되었습니다. Honeypot의 고도 금 도메인은 170m의 변위와 230m의 깊이에서 좋은 연속성을 보여줍니다.
New Found Gold Corp (TSXV: NFG) (NYSE-A: NFGC) a annoncé des résultats de forage significatifs issus de son Projet Kingsway, comprenant des interceptions notables de 105 g/t Au sur 2,10m et 10,4 g/t Au sur 4,45m dans la Zone Pistachio. D'autres points saillants incluent 36,7 g/t Au sur 2,00m à Jackpot et 8,44 g/t Au sur 4,10m à Honeypot. Le Projet Kingsway, qui borde la frontière nord du Projet Queensway, a démontré une minéralisation aurifère de haute qualité s'étendant bien au nord de la zone Queensway. Le domaine à haute teneur de Honeypot montre une bonne continuité sur 170m de longueur de filon et 230m de profondeur.
New Found Gold Corp (TSXV: NFG) (NYSE-A: NFGC) hat bedeutende Bohrergebnisse aus seinem Kingsway-Projekt bekannt gegeben, darunter bemerkenswerte Durchörterungen von 105 g/t Au über 2,10m und 10,4 g/t Au über 4,45m in der Pistachio-Zone. Weitere Höhepunkte sind 36,7 g/t Au über 2,00m in Jackpot und 8,44 g/t Au über 4,10m in Honeypot. Das Kingsway-Projekt, das an die Nordgrenze des Queensway-Projekts angrenzt, hat hochgradige Goldmineralisierung gezeigt, die weit nördlich des Queensway-Gebiets reicht. Die hochgradige Zone in Honeypot zeigt eine gute Kontinuität über 170m in der Streichlänge und 230m in der Falllinie.
- Discovery of high-grade gold intercepts: 105 g/t Au over 2.10m and 10.4 g/t Au over 4.45m at Pistachio Zone
- Expansion of Honeypot Zone by 75m to the east with 8.44 g/t Au over 4.10m
- Acquisition of Kingsway Project doubled prospective strike length along AFZ
- Multiple new high-grade gold discoveries across different zones
- Several drill holes reported no significant values
- True widths of mineralization remain uncertain in some areas
Insights
The latest drilling results from New Found Gold's Kingsway Project reveal exceptional high-grade gold intercepts, highlighted by
The acquisition of Labrador Gold's Kingsway Project has strategically doubled the company's strike length along the AFZ to 13.5km. The discovery of multiple high-grade zones including Honeypot and Jackpot, with consistent mineralization starting from surface, suggests a robust gold system. The Honeypot zone shows particularly promising continuity over 170m strike length and 230m depth.
These results validate New Found's systematic exploration approach and indicate potential for significant resource growth. The combination of near-surface mineralization and deep drilling success (as noted in July 2024 release) substantially increases the project's scale potential.
Highlights:
Hole No. | From (m) | To (m) | Interval (m) | Au (g/t) | Zone |
NFGC-24-21531 | 218.80 | 223.25 | 4.45 | 10.36 | Pistachio |
Including | 221.50 | 222.35 | 0.85 | 35.17 | |
And2 | 243.45 | 245.55 | 2.10 | 104.62 | |
Including | 243.95 | 244.70 | 0.75 | 290.73 | |
And4 | 316.20 | 320.95 | 4.75 | 2.26 | |
NFGC-24-21192 | 159.90 | 166.05 | 6.15 | 5.20 | Honeypot |
Including | 159.90 | 160.55 | 0.65 | 15.32 | |
Including | 162.85 | 163.60 | 0.75 | 11.93 | |
NFGC-24-21291 | 83.70 | 87.80 | 4.10 | 8.44 | Honeypot |
Including | 86.80 | 87.80 | 1.00 | 23.59 | |
NFGC-24-21441 | 56.00 | 58.00 | 2.00 | 36.74 | Jackpot |
Including | 56.00 | 57.00 | 1.00 | 73.31 |
Table 1: Drilling Highlights
Note that the host structures are interpreted to be moderately to steeply dipping and true widths are generally estimated to be 1 |
- 105 g/t Au over 2.10m and 10.4 g/t Au over 4.45m in NFGC-24-2153 was intersected in a follow-up program targeting two historic intervals of high-grade gold which included 5.17 g/t Au over 7.00m in K-23-271 and 4.68 g/t Au over 5.00m in K-23-278, a discovery that has become known as "Pistachio". These historic intervals at Pistachio are 40m and 65m down plunge of NFGC-24-2153 and are located 150m north of the Big Vein Zone, a previously made discovery by Labrador Gold. These initial results represent some of the most significant gold intercepts drilled to date at Kingsway (Figures 2-4).
- Pistachio and Big Vein are situated 5.5km northeast of the Honeypot Zone immediately west of the AFZ (Figures 2 and 3), demonstrating that high-grade gold mineralization extends well north of the Queensway Project area (Figure 8).
- The Pistachio Zone consists of a series of quartz veins containing visible gold hosted by a greenish siltstone unit that is spatially associated with a high-grade gold and stibnite-bearing fault zone. The historic drilling into this area was limited, and the zone remains open down plunge and to depth. Follow-up drilling is ongoing to expand on these initial high-grade intervals and improve understanding of the structural orientations.
- Previous exploration drilling by Labrador Gold on Kingsway resulted in seven near-surface gold discoveries occurring over a 7.5km long segment of the AFZ and mostly on the west side. Ongoing exploration drilling is using a combined targeted and systematic approach, involving grid drilling within the prospective corridor on both sides of the AFZ. This strategy has been effective at Queensway, leading to multiple discoveries further south around the Keats Zone.
- Continued follow-up drilling at Honeypot, a discovery announced on January 10, 2024, has resulted in a 75m expansion of the zone to the east with the intercept of 8.44 g/t Au over 4.10m in NFGC-24-2129. Located a further 75m down-dip, the highlight interval of 5.20 g/t Au over 6.15m in NFGC-24-2119 was also intersected demonstrating lateral continuity of the gold mineralization at depth (Figures 5 and 6).
- The Honeypot high-grade domain plunges steeply to the east and is currently 50m wide and 200m deep and exists within a broader gold mineralized domain that demonstrates good continuity over 170m in strike and 230m down dip. Honeypot is located 1.2km north of Lotto and remains open along strike and to depth.
- Honeypot is just one of a series of veins found north of Keats that start at the bedrock surface and carries high-grade gold within steeply plunging continuous domains. Other examples of similar zones include Golden Joint, Lotto, Lotto North and Jackpot.
- At Jackpot, 36.7 g/t Au over 2.00m in NFGC-24-2144 infilled a gap in the high-grade domain just 42m from surface. This interval confirms and further defines the high-grade near surface continuity of the Jackpot Zone (Figures 5 and 7).
Melissa Render, VP of Exploration of New Found, stated: "Today's results at Kingsway demonstrate the potential to delineate additional high-grade gold mineralization along this newly acquired segment of the AFZ. The acquisition of Labrador Gold's Kingsway Project provides us with 13.5km of sparsely tested strike on the AFZ and an extensive pipeline of near-surface targets with several existing discoveries that exhibit gold mineralization characteristics identical to those observed at Queensway. High-grade gold discoveries at Queensway are concentrated along the AFZ, and these initial high-grade results located 8.5km north of Keats points to the scale potential and strength of the gold mineralizing system. Acquiring the Kingsway Project has more than doubled our prospective strike length along the AFZ, while ongoing deep drilling has shown gold mineralization to persist to depths more than double those previously recognized (released July 11, 2024). These advancements expand the footprint of the gold system and provide encouragement that the prospectivity of the AFZ continues well north through the Kingsway Project."
Drillhole Details
Hole No. | From (m) | To (m) | Interval (m) | Au (g/t) | Zone |
NFGC-24-2109 | No Significant Values | Jackpot | |||
NFGC-24-2110 | No Significant Values | Jackpot | |||
NFGC-24-2111 | No Significant Values | Jackpot | |||
NFGC-24-2115 | No Significant Values | Jackpot | |||
NFGC-24-2136 | No Significant Values | Everest | |||
NFGC-24-21371 | 127.50 | 129.70 | 2.20 | 6.31 | Everest |
Including | 127.50 | 128.25 | 0.75 | 16.04 | |
And4 | 145.00 | 147.85 | 2.85 | 3.37 | |
NFGC-24-21384 | 143.00 | 145.00 | 2.00 | 1.50 | Everest |
And4 | 169.80 | 172.00 | 2.20 | 1.31 | |
NFGC-24-2140 | No Significant Values | Everest | |||
NFGC-24-21414 | 209.90 | 214.50 | 4.60 | 1.43 | Everest |
NFGC-24-2142 | No Significant Values | Everest | |||
NFGC-24-2143 | No Significant Values | Everest | |||
NFGC-24-21441 | 56.00 | 58.00 | 2.00 | 36.74 | Jackpot |
Including | 56.00 | 57.00 | 1.00 | 73.31 | |
And2 | 246.00 | 249.00 | 3.00 | 1.28 | |
NFGC-24-2145 | No Significant Values | Everest | |||
NFGC-24-2147 | No Significant Values | Everest | |||
NFGC-24-21192 | 159.90 | 166.05 | 6.15 | 5.20 | Honeypot |
Including | 159.90 | 160.55 | 0.65 | 15.32 | |
Including | 162.85 | 163.60 | 0.75 | 11.93 | |
NFGC-24-21201 | 178.30 | 180.70 | 2.40 | 1.01 | Honeypot |
And1 | 186.25 | 188.80 | 2.55 | 2.25 | |
And4 | 266.50 | 268.75 | 2.25 | 2.59 | |
And4 | 269.5 | 271.5 | 2.00 | 1.47 | |
NFGC-24-21211 | 171.40 | 173.95 | 2.55 | 2.06 | Honeypot |
NFGC-24-21222 | 188.90 | 193.10 | 4.20 | 2.64 | Honeypot |
Including | 191.75 | 192.50 | 0.75 | 10.58 | |
NFGC-24-21241 | 254.45 | 263.20 | 8.75 | 1.46 | Honeypot |
NFGC-24-2125 | No Significant Values | Honeypot | |||
NFGC-24-21261 | 268.70 | 271.35 | 2.65 | 2.38 | Honeypot |
NFGC-24-2127 | No Significant Values | Honeypot | |||
NFGC-24-21281 | 255.65 | 262.50 | 6.85 | 1.40 | Honeypot |
NFGC-24-21291 | 83.70 | 87.80 | 4.10 | 8.44 | Honeypot |
Including | 86.80 | 87.80 | 1.00 | 23.59 | |
NFGC-24-21301 | 99.60 | 102.20 | 2.60 | 1.84 | Honeypot |
NFGC-24-21311 | 106.20 | 109.00 | 2.80 | 2.72 | Honeypot |
NFGC-24-21321 | 97.15 | 99.30 | 2.15 | 4.89 | Honeypot |
NFGC-24-2133 | No Significant Values | Honeypot | |||
NFGC-24-2134 | No Significant Values | Honeypot | |||
NFGC-24-2149 | No Significant Values | Golden Glove | |||
NFGC-24-21504 | 176.90 | 179.00 | 2.10 | 1.29 | Golden Glove |
NFGC-24-21514 | 248.50 | 250.70 | 2.20 | 4.71 | Big Vein |
Including | 250.00 | 250.70 | 0.70 | 13.12 | |
NFGC-24-2152 | No Significant Values | Knobby | |||
NFGC-24-21531 | 211.10 | 214.60 | 3.50 | 1.76 | Pistachio |
And1 | 218.80 | 223.25 | 4.45 | 10.36 | |
Including | 221.50 | 222.35 | 0.85 | 35.17 | |
And2 | 243.45 | 245.55 | 2.10 | 104.62 | |
Including | 243.95 | 244.70 | 0.75 | 290.73 | |
And4 | 316.20 | 320.95 | 4.75 | 2.26 | |
NFGC-24-2155 | No Significant Values | Knobby |
Table 2: Summary of composite results reported in this press release for Everest, Honeypot, Jackpot, Big Vein, Pistachio, Golden Glove and Knobby |
Note that the host structures are interpreted to be moderately to steeply dipping and true widths are generally estimated to be 1 |
Hole No. | Azi (°) | Dip (°) | Length (m) | UTM E | UTM N | Prospect |
NFGC-24-2109 | 115 | -45 | 80 | 659373 | 5429800 | Jackpot |
NFGC-24-2110 | 170 | -50 | 110 | 659373 | 5429798 | Jackpot |
NFGC-24-2111 | 85 | -60 | 152 | 659319 | 5429659 | Jackpot |
NFGC-24-2115 | 71 | -45.5 | 123 | 659314 | 5429603 | Jackpot |
NFGC-24-2119 | 335 | -57 | 200 | 659565 | 5430036 | Honeypot |
NFGC-24-2120 | 325 | -66 | 281 | 659565 | 5430035 | Honeypot |
NFGC-24-2121 | 342.5 | -64 | 272 | 659565 | 5430036 | Honeypot |
NFGC-24-2122 | 343 | -70 | 263 | 659565 | 5430036 | Honeypot |
NFGC-24-2124 | 349 | -52 | 299 | 659553 | 5429927 | Jackpot |
NFGC-24-2125 | 330 | -54 | 296 | 659553 | 5429927 | Jackpot |
NFGC-24-2126 | 347 | -55.5 | 317 | 659554 | 5429927 | Jackpot |
NFGC-24-2127 | 353 | -59 | 332 | 659554 | 5429927 | Jackpot |
NFGC-24-2128 | 355 | -55 | 323 | 659554 | 5429927 | Jackpot |
NFGC-24-2129 | 338 | -52 | 137 | 659554 | 5430101 | Honeypot |
NFGC-24-2130 | 327.5 | -63 | 146 | 659554 | 5430101 | Honeypot |
NFGC-24-2131 | 344.5 | -71 | 134 | 659554 | 5430100 | Honeypot |
NFGC-24-2132 | 359 | -63 | 119 | 659555 | 5430101 | Honeypot |
NFGC-24-2133 | 0 | -47 | 122 | 659555 | 5430102 | Honeypot |
NFGC-24-2134 | 314 | -53 | 296 | 659552 | 5429926 | Jackpot |
NFGC-24-2136 | 299 | -45.5 | 375 | 659485 | 5430195 | Everest |
NFGC-24-2137 | 300 | -45 | 338 | 659488 | 5430252 | Everest |
NFGC-24-2138 | 300 | -45 | 380 | 659532 | 5430227 | Everest |
NFGC-24-2140 | 299.5 | -46 | 317 | 659491 | 5430307 | Everest |
NFGC-24-2141 | 299 | -45 | 362 | 659535 | 5430283 | Everest |
NFGC-24-2142 | 299 | -45.5 | 353 | 659542 | 5430394 | Everest |
NFGC-24-2143 | 300 | -46 | 362 | 659538 | 5430339 | Everest |
NFGC-24-2144 | 305 | -47.5 | 337 | 659426 | 5429856 | Jackpot |
NFGC-24-2145 | 283 | -56 | 176 | 659541 | 5430394 | Everest |
NFGC-24-2147 | 307 | -57 | 191 | 659542 | 5430394 | Everest |
NFGC-24-2149 | 333 | -42 | 269 | 660420 | 5431814 | Golden Glove |
NFGC-24-2150 | 299 | -42 | 470 | 660420 | 5431814 | Golden Glove |
NFGC-24-2151 | 310 | -55 | 350 | 661925 | 5435250 | Pistachio |
NFGC-24-2152 | 125 | -45 | 413 | 660695 | 5433785 | Knobby |
NFGC-24-2153 | 291 | -52 | 374 | 661926 | 5435250 | Pistachio |
NFGC-24-2155 | 145 | -45 | 324 | 660695 | 5433785 | Knobby |
Table 3: Details of drill holes reported in this press release |
Queensway 650,000m Drill Program Update
The Company is currently undertaking a 650,000m drill program at Queensway.
Sampling, Sub-sampling, and Laboratory
All drilling recovers HQ core. The drill core is split in half using a diamond saw or a hydraulic splitter for rare intersections with incompetent core.
A geologist examines the drill core and marks out the intervals to be sampled and the cutting line. Sample lengths are mostly 1.0 metre and adjusted to respect lithological and/or mineralogical contacts and isolate narrow (<1.0m) veins or other structures that may yield higher grades.
Technicians saw the core along the defined cutting line. One-half of the core is kept as a witness sample and the other half is submitted for analysis. Individual sample bags are sealed and placed into totes, which are then sealed and marked with the contents.
New Found has submitted samples for gold determination by fire assay to ALS Canada Ltd. ("ALS") and by photon assay to MSALABS ("MSA") since June 2022. As of February 2024, gold analysis at ALS has been performed by photon assay. ALS and MSA operate under a commercial contract with New Found.
Drill core samples are shipped to ALS for sample preparation in
Drill core samples are also submitted to MSA in
At ALS for fire assay, the entire sample is crushed to approximately
Samples submitted to ALS beginning in February 2024, received gold analysis by photon assay whereby the entire sample is crushed to approximately
For samples that have VG identified, the entire crushed sample is riffle split and weighed into multiple jars that are submitted for photon assay. The assays from all jars are combined on a weight-averaged basis.
At MSA, the entire sample is crushed to approximately
For samples that have VG identified, the entire crushed sample is weighed into multiple jars and submitted for photon assay. The assays from all jars are combined on a weight-averaged basis.
All samples prepared at ALS or MSA are also analyzed for a multi-element ICP package (ALS method code ME-ICP61) at ALS Vancouver.
Drill program design, Quality Assurance/Quality Control, and interpretation of results are performed by qualified persons employing a rigorous Quality Assurance/Quality Control program consistent with industry best practices. Standards and blanks account for a minimum of
Quality Control data are evaluated on receipt from the laboratories for failures. Appropriate action is taken if assay results for standards and blanks fall outside allowed tolerances. All results stated have passed New Found's quality control protocols.
New Found's quality control program also includes submission of the second half of the core for approximately
The Company does not recognize any factors of drilling, sampling, or recovery that could materially affect the accuracy or reliability of the assay data disclosed.
The assay data disclosed in this press release have been verified by the Company's Qualified Person against the original assay certificates.
The Company notes that it has not completed any economic evaluations of its Queensway Project and that the Queensway Project does not have any resources or reserves.
Qualified Person
The scientific and technical information disclosed in this press release was reviewed and approved by Greg Matheson, P. Geo., Chief Operating Officer, and a Qualified Person as defined under National Instrument 43-101. Mr.
About New Found Gold Corp.
New Found holds a
Please see the Company's website at www.newfoundgold.ca and the Company's SEDAR+ profile at www.sedarplus.ca.
Acknowledgements
New Found acknowledges the financial support of the Junior Exploration Assistance Program, Department of Natural Resources, Government of
Contact
To contact the Company, please visit the Company's website, www.newfoundgold.ca and make your request through our investor inquiry form. Our management has a pledge to be in touch with any investor inquiries within 24 hours.
New Found Gold Corp.
Per: "Collin Kettell"
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statement Cautions
This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, relating to exploration, drilling and mineralization on the Company's Queensway gold project in
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SOURCE New Found Gold Corp.
FAQ
What were the main gold intercepts reported by New Found Gold (NFGC) at Pistachio Zone?
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