New Found Intercepts 5.81 g/t Au Over 30M at Keats West
- Positive results from diamond drill holes at the Keats West zone
- 5.81 g/t Au over 30.05m and 7.01 g/t Au over 10.45m
- Keats West zone has a known footprint of 305m long by 315m wide and starts at surface
- None.
Figure 1: Photos of mineralization from NFGC-23-1149 at ~58m. ^Note that these photos are not intended to be representative of gold mineralization in NFGC-23-1149. (Photo: Business Wire)
Keats West Highlights:
Hole No. |
From (m) |
To (m) |
Interval (m) |
Au (g/t) |
Zone |
NFGC-22-10431 |
7.20 |
26.60 |
19.40 |
2.49 |
Keats W |
NFGC-23-11102 |
19.65 |
31.00 |
11.35 |
3.23 |
|
NFGC-23-11491 |
31.25 |
43.30 |
12.05 |
1.06 |
Keats W |
And1 |
56.10 |
86.15 |
30.05 |
5.81 |
|
Including |
56.10 |
56.85 |
0.75 |
23.94 |
|
Including |
57.90 |
58.25 |
0.35 |
102.04 |
|
Including |
61.80 |
63.30 |
1.50 |
19.29 |
|
Including |
80.70 |
81.65 |
0.95 |
31.58 |
|
NFGC-23-11841 |
44.40 |
54.85 |
10.45 |
7.01 |
Keats W |
Including |
46.00 |
48.20 |
2.20 |
14.85 |
|
Including |
49.85 |
50.95 |
1.10 |
19.16 |
Table 1: Keats West Drilling Highlights
Note host structures are interpreted to be shallowly dipping and true widths are generally estimated to be 1
- 5.81 g/t Au over 30.05m in NFGC-23-1149 occurs just 60m below surface and is 110m down-dip of previously reported 18.9 g/t Au over 15.95m in NFGC-22-773 (November 23, 2022) at Keats West. This interval is interpreted to be close to true width and adds to the growing list of broad intervals of gold mineralization at Keats West.
- 7.01 g/t Au over 10.45m in NFGC-23-1184 was intersected a further 130m down-dip from NFGC-23-1149. 2.49 g/t Au over 19.40m in NFGC-22-1043 and 3.23 g/t Au over 11.35m in NFGC-23-1110 occur in the westernmost panel of the Keats West structure, an area where gold mineralization is located at surface covered by minimal overburden. Several intercepts from this western panel are pending.
- Keats West has a known footprint spanning 305m long by 315m wide and starts at surface with all intercepts drilled to date occurring above 130m vertical depth. The zone has a cumulative average thickness of 30m.
Melissa Render, VP of Exploration of New Found, stated: “Keats West remains a pivotal discovery for New Found, not only because it was the first major discovery located on the west side of the AFZ but its close spatial relation to the Keats and Iceberg zones tells us that there is something special about this segment of the AFZ. One area of strong exploration potential lies deeper within this domain surrounding Keats, Iceberg and Keats West. Combining our current knowledge of these zones with the upcoming results of the seismic survey has the potential to quickly grow the known extents of mineralization along the AFZ and our team is eager to pursue it.”
Drillhole Details
Hole No. |
From (m) |
To (m) |
Interval (m)1 |
Au (g/t) |
Zone |
NFGC-22-10371 |
6.45 |
10.00 |
3.55 |
2.44 |
Keats W |
And1 |
14.45 |
19.50 |
5.05 |
1.44 |
|
And1 |
40.00 |
47.40 |
7.40 |
1.44 |
|
NFGC-22-10431 |
7.20 |
26.60 |
19.40 |
2.49 |
Keats W |
And1 |
51.00 |
53.40 |
2.40 |
1.42 |
|
NFGC-22-10492 |
16.70 |
20.20 |
3.50 |
1.07 |
Keats W |
NFGC-22-1076 |
No Significant Values |
Keats W |
|||
NFGC-23-1097 |
No Significant Values |
Keats W |
|||
NFGC-23-11102 |
19.65 |
31.00 |
11.35 |
3.23 |
Keats W |
NFGC-23-1118 |
No Significant Values |
Keats W |
|||
NFGC-23-11313 |
93.00 |
95.85 |
2.85 |
1.93 |
Keats W |
NFGC-23-1138 |
No Significant Values |
Keats W |
|||
NFGC-23-11391 |
67.65 |
70.55 |
2.90 |
1.45 |
Keats W |
NFGC-23-11491 |
13.55 |
16.00 |
2.45 |
1.42 |
Keats W |
And1 |
31.25 |
43.30 |
12.05 |
1.06 |
|
And1 |
56.10 |
86.15 |
30.05 |
5.81 |
|
Including |
56.10 |
56.85 |
0.75 |
23.94 |
|
Including |
57.90 |
58.25 |
0.35 |
102.04 |
|
Including |
61.80 |
63.30 |
1.50 |
19.29 |
|
Including |
80.70 |
81.65 |
0.95 |
31.58 |
|
NFGC-23-11841 |
44.40 |
54.85 |
10.45 |
7.01 |
Keats W |
Including |
46.00 |
48.20 |
2.20 |
14.85 |
|
Including |
49.85 |
50.95 |
1.10 |
19.16 |
|
And1 |
62.75 |
69.20 |
6.45 |
1.09 |
|
NFGC-23-12041 |
9.20 |
11.20 |
2.00 |
1.27 |
Keats W |
And1 |
33.00 |
37.25 |
4.25 |
1.27 |
|
And1 |
44.65 |
47.20 |
2.55 |
1.19 |
|
And2 |
62.90 |
65.30 |
2.40 |
1.44 |
|
NFGC-23-1459 |
No Significant Values |
Keats W |
|||
NFGC-23-1472 |
No Significant Values |
Keats W |
|||
NFGC-23-1495 |
No Significant Values |
Keats W |
Table 2: Summary of composite results reported in this press release for Keats West
Note host structures are interpreted to be shallowly dipping and true widths are generally estimated to be 1
Hole No. |
Azimuth (°) |
Dip (°) |
Length (m) |
UTM E |
UTM N |
Prospect |
NFGC-22-1037 |
30 |
-82 |
144 |
657869 |
5428067 |
Keats West |
NFGC-22-1043 |
15 |
-65 |
84 |
657871 |
5428010 |
Keats West |
NFGC-22-1049 |
115 |
-45 |
69 |
657907 |
5427989 |
Keats West |
NFGC-22-1076 |
0 |
-60 |
90 |
657833 |
5427917 |
Keats West |
NFGC-23-1097 |
46 |
-52 |
245 |
657946 |
5427765 |
Keats West |
NFGC-23-1110 |
120 |
-45 |
176 |
657873 |
5428009 |
Keats West |
NFGC-23-1118 |
67 |
-53 |
212 |
657906 |
5427818 |
Keats West |
NFGC-23-1131 |
20 |
-45 |
110 |
657827 |
5428093 |
Keats West |
NFGC-23-1138 |
348 |
-74 |
20 |
657989 |
5427885 |
Keats West |
NFGC-23-1139 |
15 |
-65 |
116 |
657901 |
5427936 |
Keats West |
NFGC-23-1149 |
27 |
-65 |
115 |
658004 |
5427991 |
Keats West |
NFGC-23-1184 |
31 |
-45 |
173 |
657952 |
5427849 |
Keats West |
NFGC-23-1204 |
40 |
-60 |
143 |
657955 |
5427904 |
Keats West |
NFGC-23-1459 |
345 |
-60 |
251 |
657810 |
5427935 |
Keats West |
NFGC-23-1472 |
75 |
-45 |
269 |
657813 |
5427934 |
Keats West |
NFGC-23-1495 |
75 |
-45 |
269 |
657674 |
5428009 |
Keats West |
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 42,900m of core is currently pending assay results.
Sampling, Sub-sampling, and Laboratory
Assays are uncut, and composite intervals are calculated using a minimum weighted average of 1 g/t Au diluted over a minimum core length of 2m with a maximum of 4m consecutive dilution. Included high-grade intercepts are reported as any consecutive interval with grades greater than 10 g/t Au.
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 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. 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.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.
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/20230817271779/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.
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