New Found Intercepts 6.7 g/t Au Over 24m at Keats West & Discovers New Vein Between Golden Joint and Keats North Intercepting 50.3 g/t Au Over 2.5m
New Found Gold Corp. (NFGC) has released results from 37 diamond drill holes at its 100%-owned Queensway project, located near Gander, Newfoundland. Significant gold intercepts were reported from Keats West and Keats North, including grades such as 42.6 g/t Au over 32m and 28.8 g/t Au over 3.45m. The ongoing drilling program aims to extend identified gold mineralization along the Appleton Fault Zone and adjacent areas. The company is undertaking a comprehensive 500,000m drill program, with over 51,000m of core awaiting assay results. These results confirm the potential for further high-grade gold discoveries in this region.
- Reported high gold grades, including 42.6 g/t Au over 32m in NFGC-22-960 and 28.8 g/t Au over 3.45m in NFGC-22-855.
- Significant intercepts across multiple holes, indicating robust gold mineralization continuity.
- Expansion of drilling program to explore high-grade veins, enhancing exploration potential.
- None.
Figure 1: Photos of mineralization from: Left: at ~208m in NFGC-22-766, Right: at ~118m in NFGC-22-855. ^Note that these photos are not intended to be representative of gold mineralization in NFGC-22-766 and NFGC-22-855. (Photo: Business Wire)
Hole Number |
From (m) |
To (m) |
Interval (m)1 |
Au (g/t) |
Zone |
NFGC-22-660 |
9.00 |
12.00 |
3.00 |
1.97 |
Keats W |
And |
22.20 |
26.30 |
4.10 |
2.22 |
|
And |
36.45 |
40.90 |
4.45 |
1.27 |
|
And |
43.90 |
46.05 |
2.15 |
1.67 |
|
And |
52.25 |
68.10 |
15.85 |
2.01 |
|
Including |
67.45 |
68.10 |
0.65 |
11.30 |
|
NFGC-22-759 |
66.80 |
80.05 |
13.25 |
1.82 |
Keats W |
NFGC-22-784 |
13.40 |
37.40 |
24.00 |
6.68 |
Keats W |
Including |
18.95 |
20.45 |
1.50 |
37.43 |
|
Including |
20.85 |
21.55 |
0.70 |
14.90 |
|
Including |
26.00 |
27.50 |
1.50 |
24.70 |
|
Including |
36.45 |
37.40 |
0.95 |
12.75 |
|
NFGC-22-808 |
44.00 |
49.00 |
5.00 |
13.90 |
Keats W |
Including |
44.00 |
45.80 |
1.80 |
23.40 |
|
Including |
46.95 |
47.35 |
0.40 |
20.10 |
|
Including |
47.70 |
48.35 |
0.65 |
12.05 |
|
And |
55.00 |
62.00 |
7.00 |
2.01 |
|
NFGC-22-868 |
78.20 |
94.45 |
16.25 |
2.12 |
Keats W |
NFGC-22-992 |
17.50 |
24.15 |
6.65 |
2.85 |
Keats W |
And |
27.00 |
29.00 |
2.00 |
1.44 |
|
And |
32.00 |
39.20 |
7.20 |
1.98 |
|
|
|
|
|
|
|
NFGC-22-813 |
22.00 |
36.10 |
14.10 |
2.13 |
Keats N |
Including |
22.55 |
23.60 |
1.05 |
15.67 |
|
NFGC-22-855 |
117.55 |
121.00 |
3.45 |
28.82 |
Keats N |
Including |
117.55 |
118.65 |
1.10 |
85.85 |
|
And |
376.40 |
378.40 |
2.00 |
1.12 |
|
|
|
|
|
|
|
NFGC-22-7662 |
206.85 |
209.30 |
2.45 |
50.30 |
Golden Joint |
And2 |
207.20 |
208.15 |
0.95 |
129.50 |
Table 1:
1Note that the host structures are interpreted to be shallowly dipping and true widths are generally estimated to be
-
At
Keats West , ongoing drilling up-dip of NFGC-22-960 that intercepted 42.6 g/t Au over 32m continues to intersect expansive zones of gold mineralization including 6.68 g/t Au over 24.00m in NFGC-22-784, 13.9 g/t Au over 5.00m and 2.01 g/t Au over 7.00m in NFGC-22-808, and 2.12 g/t Au over 16.25m in NFGC-22-868. These intercepts all occur near surface and demonstrate the robustness and continuity of this gold system (Figures 2-5). Follow-up drilling results exploring along strike and down-dip of NFGC-22-960 are pending.
-
The
Keats West structure is interpreted to be a thrust fault that dips gently to the south-southwest and hosts both low and high-grade gold mineralization over a considerable thickness with cumulative widths ranging from 10-30m. This fault zone occurs on the west side of the AFZ and contains a series of stacked veins that contain the gold mineralization. Drilling initially focused within a panel of the structure where gold mineralization has been intersected over an area of 280m x 130m and ongoing drilling is designed to extend this zone along strike to the west and down-dip (Figures 2-5).
-
Across the AFZ to the east is
Keats North where an extensive array of brittle faults host to high-grade gold have been discovered and traced over an area 150m wide x 630m in strike. A combination of systematic and targeted drilling is being used to test this area and expand on several gold domains identified to date with a focus on the top 200m of vertical depth. Highlight results from this drilling include 28.8 g/t Au over 3.45m in NFGC-22-855 and 2.13 g/t Au over 14.10m in NFGC-22-813 (Figures 1, 2, 3 and 5).
-
A new high-grade vein has been discovered between
Keats North and Golden Joint reporting a grade of 50.3 g/t Au over 2.45m in NFGC-22-766. The vein occurs at the greywacke-shale contact roughly midway between Golden Joint andKeats North as illustrated in Figure 2. Limited drilling has been done in this area and follow-up drilling is underway.
“East of the AFZ at Keats North we continue to see high-grade intervals with mineralization starting at surface down to vertical depths of 200m and I’m thrilled that further north we’ve now intersected another new vein situated midway between
Drillhole Details
Cokes Results:
Hole Number |
From (m) |
To (m) |
Interval (m)1 |
Au (g/t) |
Zone |
NFGC-22-798 |
No Significant Values |
Cokes |
|||
NFGC-22-811 |
33.20 |
37.50 |
4.30 |
2.22 |
Cokes |
And |
89.80 |
92.60 |
2.80 |
1.50 |
|
And |
115.30 |
119.05 |
3.75 |
2.01 |
|
NFGC-22-822 |
No Significant Values |
Cokes |
|||
NFGC-22-828 |
46.00 |
50.50 |
4.50 |
1.20 |
Cokes |
Hole Number |
From (m) |
To (m) |
Interval (m)1 |
Au (g/t) |
Zone |
NFGC-22-635 |
115.00 |
117.90 |
2.90 |
2.78 |
Keats W |
NFGC-22-659 |
27.25 |
29.60 |
2.35 |
1.38 |
Keats N |
And |
104.40 |
106.65 |
2.25 |
2.94 |
|
Including |
104.40 |
104.75 |
0.35 |
18.78 |
|
And |
123.75 |
126.00 |
2.25 |
5.90 |
|
Including |
123.75 |
124.30 |
0.55 |
23.01 |
|
NFGC-22-660 |
9.00 |
12.00 |
3.00 |
1.97 |
Keats W |
And |
22.20 |
26.30 |
4.10 |
2.22 |
|
And |
36.45 |
40.90 |
4.45 |
1.27 |
|
And |
43.90 |
46.05 |
2.15 |
1.67 |
|
And |
52.25 |
68.10 |
15.85 |
2.01 |
|
Including |
67.45 |
68.10 |
0.65 |
11.30 |
|
NFGC-22-667 |
8.00 |
16.00 |
8.00 |
2.74 |
Keats W |
And |
18.10 |
20.20 |
2.10 |
1.10 |
|
NFGC-22-683 |
47.40 |
52.00 |
4.60 |
1.03 |
Keats N |
NFGC-22-702 |
6.80 |
9.00 |
2.20 |
1.24 |
Keats N |
And |
16.10 |
18.10 |
2.00 |
1.45 |
|
NFGC-22-710 |
25.00 |
27.00 |
2.00 |
1.14 |
Keats N |
And |
47.90 |
52.00 |
4.10 |
1.09 |
|
And |
60.45 |
62.60 |
2.15 |
1.32 |
|
And |
193.80 |
196.90 |
3.10 |
2.15 |
|
NFGC-22-718 |
15.05 |
18.00 |
2.95 |
2.12 |
Keats N |
NFGC-22-726 |
111.65 |
114.00 |
2.35 |
1.63 |
Keats W |
NFGC-22-732 |
39.00 |
41.00 |
2.00 |
1.06 |
Keats W |
NFGC-22-738 |
6.00 |
8.65 |
2.65 |
1.55 |
|
And |
18.80 |
21.00 |
2.20 |
1.42 |
|
NFGC-22-739 |
99.20 |
104.30 |
5.10 |
1.70 |
Keats W |
And |
108.00 |
110.75 |
2.75 |
1.79 |
|
And |
153.85 |
156.35 |
2.50 |
2.35 |
Keats N |
NFGC-22-755 |
165.40 |
167.65 |
2.25 |
1.62 |
Keats FW |
NFGC-22-759 |
66.80 |
80.05 |
13.25 |
1.82 |
Keats W |
NFGC-22-7622 |
52.50 |
54.65 |
2.15 |
36.49 |
Keats N |
Including2 |
53.35 |
54.00 |
0.65 |
115.00 |
|
And |
125.40 |
128.00 |
2.60 |
2.56 |
|
NFGC-22-770 |
No Significant Values |
Keats N |
|||
NFGC-22-780 |
No Significant Values |
Keats N |
|||
NFGC-22-784 |
9.65 |
11.90 |
2.25 |
1.10 |
Keats W |
And |
13.40 |
37.40 |
24.00 |
6.68 |
|
Including |
18.95 |
20.45 |
1.50 |
37.43 |
|
Including |
20.85 |
21.55 |
0.70 |
14.90 |
|
Including |
26.00 |
27.50 |
1.50 |
24.70 |
|
Including |
36.45 |
37.40 |
0.95 |
12.75 |
|
NFGC-22-787 |
41.55 |
44.15 |
2.60 |
1.10 |
Keats N |
NFGC-22-799 |
63.00 |
65.00 |
2.00 |
5.55 |
Keats N |
Including |
64.00 |
65.00 |
1.00 |
11.05 |
|
And |
73.05 |
76.20 |
3.15 |
1.11 |
|
And |
101.70 |
104.40 |
2.70 |
1.24 |
|
NFGC-22-801 |
22.55 |
24.60 |
2.05 |
5.42 |
Keats W |
And |
30.00 |
34.00 |
4.00 |
1.20 |
|
And |
37.00 |
41.00 |
4.00 |
1.69 |
|
NFGC-22-808 |
32.85 |
34.85 |
2.00 |
1.07 |
Keats W |
And |
44.00 |
49.00 |
5.00 |
13.90 |
|
Including |
44.00 |
45.80 |
1.80 |
23.40 |
|
Including |
46.95 |
47.35 |
0.40 |
20.10 |
|
Including |
47.70 |
48.35 |
0.65 |
12.05 |
|
And |
55.00 |
62.00 |
7.00 |
2.01 |
|
NFGC-22-809 |
11.00 |
13.30 |
2.30 |
1.50 |
|
And |
72.80 |
75.65 |
2.85 |
1.07 |
|
NFGC-22-810 |
251.55 |
253.90 |
2.35 |
4.10 |
Keats FW |
Including |
252.45 |
253.25 |
0.80 |
11.90 |
|
NFGC-22-813 |
22.00 |
36.10 |
14.10 |
2.13 |
Keats N |
Including |
22.55 |
23.60 |
1.05 |
15.67 |
|
NFGC-22-817 |
No Significant Values |
Keats W |
|||
And |
No Significant Values |
Keats N |
|||
NFGC-22-820 |
57.00 |
59.90 |
2.90 |
1.04 |
Keats N |
And |
72.00 |
74.10 |
2.10 |
2.28 |
|
And |
77.05 |
79.55 |
2.50 |
1.01 |
|
NFGC-22-830 |
No Significant Values |
Keats W |
|||
NFGC-22-855 |
117.55 |
121.00 |
3.45 |
28.82 |
Keats N |
Including |
117.55 |
118.65 |
1.10 |
85.85 |
|
And |
376.40 |
378.40 |
2.00 |
1.12 |
|
NFGC-22-868 |
78.20 |
94.45 |
16.25 |
2.12 |
Keats W |
NFGC-22-891 |
120.45 |
123.00 |
2.55 |
9.56 |
Keats N |
Including |
121.45 |
122.00 |
0.55 |
40.32 |
|
And |
136.10 |
138.35 |
2.25 |
1.13 |
|
And |
161.50 |
164.00 |
2.50 |
1.36 |
|
And |
165.00 |
167.55 |
2.55 |
1.05 |
|
NFGC-22-992 |
17.50 |
24.15 |
6.65 |
2.85 |
Keats W |
And |
27.00 |
29.00 |
2.00 |
1.44 |
|
And |
32.00 |
39.20 |
7.20 |
1.98 |
Golden Joint Results:
Hole Number |
From (m) |
To (m) |
Interval (m)1 |
Au (g/t) |
Zone |
NFGC-22-7663 |
21.60 |
23.90 |
2.30 |
1.01 |
Golden Joint |
And3 |
27.60 |
29.65 |
2.05 |
1.27 |
|
And3 |
61.80 |
64.55 |
2.75 |
2.98 |
|
Including3 |
63.35 |
63.75 |
0.40 |
14.10 |
|
And3 |
206.85 |
209.30 |
2.45 |
50.30 |
|
Including3 |
207.20 |
208.15 |
0.95 |
129.50 |
Table 2: Summary of composite results reported in this press release for Cokes,
1Note that the host structures are interpreted to be shallowly dipping and true widths are generally estimated to be
Hole number |
Azimuth (°) |
Dip (°) |
Length (m) |
UTM E |
UTM N |
Prospect |
NFGC-22-635 |
119 |
-46 |
200 |
657947 |
5427765 |
|
NFGC-22-659 |
300 |
-45 |
279 |
658327 |
5427689 |
|
NFGC-22-660 |
57 |
-45 |
281 |
658101 |
5427993 |
|
NFGC-22-667 |
45 |
-53 |
20 |
658101 |
5427994 |
Keats FW |
NFGC-22-683 |
300 |
-45 |
251 |
658231 |
5427744 |
|
NFGC-22-702 |
300 |
-45 |
176 |
658205 |
5427745 |
|
NFGC-22-710 |
300 |
-45 |
224 |
658239 |
5427711 |
|
NFGC-22-718 |
300 |
-45 |
371 |
658261 |
5427699 |
|
NFGC-22-726 |
143 |
-53 |
185 |
658052 |
5427903 |
|
NFGC-22-732 |
92 |
-45 |
158 |
658054 |
5427905 |
|
NFGC-22-738 |
300 |
-45 |
416 |
658282 |
5427629 |
|
NFGC-22-739 |
101 |
-58 |
158 |
658053 |
5427904 |
|
NFGC-22-755 |
300 |
-45 |
353 |
658143 |
5427624 |
|
NFGC-22-759 |
76 |
-45 |
146 |
658092 |
5427940 |
|
NFGC-22-762 |
300 |
-45 |
245 |
658261 |
5427727 |
|
NFGC-22-766 |
230 |
-45 |
327 |
658523 |
5428283 |
Golden Joint |
NFGC-22-770 |
300 |
-45 |
226 |
658282 |
5427715 |
|
NFGC-22-780 |
300 |
-46 |
182 |
658292 |
5427767 |
|
NFGC-22-784 |
75 |
-46 |
230 |
658098 |
5428052 |
|
NFGC-22-787 |
300 |
-45 |
278 |
658243 |
5427752 |
|
NFGC-22-798 |
300 |
-45 |
99 |
657730 |
5427538 |
Cokes |
NFGC-22-799 |
315 |
-42 |
143 |
658243 |
5427753 |
|
NFGC-22-801 |
70 |
-45 |
203 |
658056 |
5428077 |
|
NFGC-22-808 |
120 |
-45 |
149 |
658058 |
5428076 |
|
NFGC-22-809 |
299 |
-46 |
356 |
658236 |
5427569 |
|
NFGC-22-810 |
120 |
-46 |
467 |
657816 |
5427711 |
|
NFGC-22-811 |
300 |
-45 |
165 |
657773 |
5427569 |
Cokes |
NFGC-22-813 |
300 |
-62 |
159 |
658243 |
5427825 |
|
NFGC-22-817 |
87 |
-45 |
359 |
658012 |
5428102 |
|
NFGC-22-820 |
300 |
-45 |
221 |
658311 |
5427784 |
|
NFGC-22-822 |
95 |
-45 |
141 |
657671 |
5427225 |
Cokes |
NFGC-22-828 |
45 |
-45 |
207 |
657637 |
5427314 |
Cokes |
NFGC-22-830 |
45 |
-46 |
89 |
658012 |
5428102 |
|
NFGC-22-855 |
300 |
-45 |
410 |
658180 |
5427572 |
Keats |
NFGC-22-868 |
67 |
-46 |
266 |
658048 |
5427939 |
|
NFGC-22-891 |
300 |
-45 |
296 |
658305 |
5427847 |
|
NFGC-22-992 |
35 |
-45 |
117 |
658138 |
5428009 |
Cokes |
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 51,000m of core is currently pending assay results.
Sampling, Sub-sampling, and Laboratory
True widths of the intercepts reported in this press release have yet to be determined but are estimated to be
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, sealed and marked with the contents.
NFG has submitted samples for gold determination by fire assay to
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 and 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
Qualified Person
The scientific and technical information disclosed in this press release was reviewed and approved by
About
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
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
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/20230124005503/en/
Per: “Collin Kettell’
Email: ckettell@newfoundgold.ca
Phone: +1 (845) 535-1486
Source:
FAQ
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