New Found Intercepts 49.5 g/t Au Over 2.30M & 20.2 g/t Au Over 3.35M at Knob, 2km South of Keats
Figure 1: Photos of mineralization: Left: at ~ 25m from NFGC-22-950, Right: at ~ 193m from NFGC-22-906, ^Note that these photos are not intended to be representative of gold mineralization in NFGC-22-950 and NFGC-22-906. (Photo: Business Wire)
Rocket and Quarry Highlights:
Hole No. |
From (m) |
To (m) |
Interval (m) |
Au (g/t) |
Zone |
NFGC-22-9062 |
192.95 |
196.30 |
3.35 |
20.15 |
Quarry |
Including |
192.95 |
193.25 |
0.30 |
215.00 |
|
NFGC-22-9501 |
23.50 |
25.80 |
2.30 |
49.45 |
Rocket |
Including |
24.90 |
25.40 |
0.50 |
227.00 |
Table 1: Rocket and Quarry Drilling Highlights
1Note that the host structures are interpreted to be steeply dipping and true widths are generally estimated to be
- Exploration drilling taking place 2km south of Keats in the Knob prospect area on the east side of the AFZ has intersected multiple domains of high-grade gold mineralization. Today’s holes were positioned to target known veins in this region including the recently discovered Rocket and Knob-Quarry Veins (Figures 1-4).
- Drilling at Rocket, an approximately north-south striking, steeply dipping vein immediately north of Knob and 200m east of the AFZ, returned a highlight interval of 49.5 g/t Au over 2.30m in NFGC-22-950. This interval is located 48m along strike of previously released 12.6 g/t Au over 4.45m in NFGC-22-704 (January 18, 2023) and at a vertical depth of just 20m.
- Drilling at Knob-Quarry, targeting a series of approximately east-west striking structures similar in orientation to the Keats-Baseline Fault Zone (“KBFZ”), has identified significant gold mineralization hosted in and around the greywacke, a coarser-grained sedimentary rock that occurs at Queensway interbedded with the shales and adjacent to the AFZ, with highlight interval NFGC-22-906 returning 20.2 g/t Au over 3.35m. This interval is located 150m from the surface and 250m east of the AFZ.
Melissa Render, VP of Exploration of New Found, stated: “We are pleased with the results from our targeted work conducted at Knob, an area located roughly 2km south of Keats that has seen limited drill testing to date. It is encouraging to find repeated east-west trending structures similar in orientation to the KBFZ and hosting high-grade gold this far south along the AFZ. Furthermore, identifying high-grade gold mineralization at distances 200m+ from the AFZ and hosted in the greywackes is a unique characteristic of Knob that will assist us in targeting these domains in other areas. Very limited work has been completed west of the AFZ adjacent to Knob – an area where we plan to drill in the near future.”
Drillhole Details
Hole No. |
From (m) |
To (m) |
Interval (m) |
Au (g/t) |
Zone |
NFGC-22-882 |
No Significant Values |
Gander Outflow |
|||
NFGC-22-9063 |
73.65 |
75.90 |
2.25 |
1.00 |
Quarry |
And3 |
192.95 |
196.30 |
3.35 |
20.15 |
|
Including |
192.95 |
193.25 |
0.30 |
215.00 |
|
And3 |
227.15 |
229.25 |
2.10 |
2.79 |
|
NFGC-22-915 |
No Significant Values |
Knob |
|||
NFGC-22-933 |
No Significant Values |
Knob |
|||
NFGC-22-941 |
No Significant Values |
Knob |
|||
NFGC-22-957 |
No Significant Values |
Knob |
|||
NFGC-22-973 |
No Significant Values |
Knob |
|||
NFGC-22-981 |
No Significant Values |
Knob |
|||
NFGC-22-10263 |
34.10 |
37.60 |
3.50 |
1.56 |
Knob |
And3 |
134.70 |
137.20 |
2.50 |
1.08 |
|
NFGC-22-1032 |
No Significant Values |
Knob |
|||
NFGC-22-10353 |
56.70 |
62.00 |
5.30 |
1.52 |
Knob |
NFGC-22-1061 |
No Significant Values |
Knob |
|||
NFGC-22-709 |
No Significant Values |
Rocket |
|||
NFGC-22-919 |
No Significant Values |
Rocket |
|||
NFGC-22-9423 |
101.00 |
103.00 |
2.00 |
1.69 |
Rocket |
NFGC-22-9501 |
23.50 |
25.80 |
2.30 |
49.45 |
Rocket |
Including |
24.90 |
25.40 |
0.50 |
227.00 |
|
NFGC-22-958 |
No Significant Values |
Rocket |
|||
NFGC-22-9622 |
37.20 |
39.70 |
2.50 |
1.21 |
Rocket |
NFGC-22-9681 |
No Significant Values |
Rocket |
|||
NFGC-22-9791 |
67.45 |
69.70 |
2.25 |
1.12 |
Rocket |
NFGC-22-9881 |
52.45 |
58.45 |
6.00 |
1.76 |
Rocket |
And2 |
76.00 |
78.60 |
2.60 |
1.00 |
|
NFGC-22-10423 |
9.70 |
12.00 |
2.30 |
2.14 |
Rocket |
NFGC-23-10923 |
5.00 |
7.65 |
2.65 |
1.10 |
Rocket |
Table 2: Summary of composite results reported in this press release for Rocket, Quarry and Knob
Note that the host structures are interpreted to be steeply dipping and true widths are generally estimated to be 1
Hole No. |
Azimuth (°) |
Dip (°) |
Length (m) |
UTM E |
UTM N |
Prospect |
NFGC-22-709 |
100 |
-62 |
143 |
657191 |
5425868 |
Rocket |
NFGC-22-882 |
300 |
-42 |
734 |
656638 |
5424486 |
Gander Outflow |
NFGC-22-906 |
165 |
-45 |
335 |
657285 |
5425980 |
Knob |
NFGC-22-915 |
300 |
-45 |
170 |
656957 |
5425765 |
Knob |
NFGC-22-919 |
160 |
-45 |
356 |
657287 |
5426037 |
Knob |
NFGC-22-933 |
120 |
-45 |
236 |
656911 |
5425735 |
Knob |
NFGC-22-941 |
185 |
-45 |
371 |
656910 |
5425734 |
Knob |
NFGC-22-942 |
120 |
-45 |
128 |
657268 |
5425819 |
Knob |
NFGC-22-950 |
120 |
-45 |
185 |
657218 |
5425818 |
Knob |
NFGC-22-957 |
120 |
-45 |
260 |
656844 |
5425716 |
Knob |
NFGC-22-958 |
160 |
-65 |
68 |
657216 |
5425816 |
Rocket |
NFGC-22-962 |
60 |
-70 |
68 |
657218 |
5425819 |
Knob |
NFGC-22-968 |
135 |
-45 |
182 |
657193 |
5425868 |
Rocket |
NFGC-22-973 |
200 |
-45 |
134 |
656844 |
5425714 |
Knob |
NFGC-22-979 |
135 |
-60 |
209 |
657192 |
5425868 |
Knob |
NFGC-22-981 |
120 |
-63 |
149 |
656912 |
5425737 |
Knob |
NFGC-22-988 |
116 |
-45 |
146 |
657193 |
5425868 |
Knob |
NFGC-22-1026 |
155 |
-45 |
155 |
656838 |
5425243 |
Grouse |
NFGC-22-1032 |
141 |
-56 |
173 |
657285 |
5425981 |
Rocket |
NFGC-22-1035 |
180 |
-45 |
188 |
656836 |
5425243 |
Grouse |
NFGC-22-1042 |
172 |
-55 |
161 |
657284 |
5425981 |
Knob |
NFGC-22-1061 |
140 |
-45 |
167 |
656868 |
5425252 |
Grouse |
NFGC-23-1092 |
160 |
-42 |
308 |
657420 |
5425808 |
Golden Bullet |
Table 3: Details of drill holes reported in this press release
Queensway 500,000m Drill Program Update
The Company is currently undertaking a 500,000m drill program at Queensway and approximately 61,300m of core is currently pending assay results.
Sampling, Sub-sampling, and Laboratory
All drilling recovers HQ core. 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 meter 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, sealed and marked with the contents.
New Found submits samples for gold determination by fire assay to ALS Canada Ltd. (“ALS”) and by photon assay to MSALABS (“MSA”) since June 2022. 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 Val-d’Or,
At ALS, the entire sample is crushed to approximately
At MSA, the entire sample is crushed to approximately
For samples that have VG identified or are within a mineralized zone, the entire crushed sample is weighed into multiple jars and are 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 news 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.sedar.com.
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.
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
View source version on businesswire.com: https://www.businesswire.com/news/home/20230620189215/en/
New Found Gold Corp.
Per: “Collin Kettell”
Collin Kettell, Chief Executive Officer
Email: ckettell@newfoundgold.ca
Phone: +1 (845) 535-1486
Source: New Found Gold Corp.