NEW FOUND MAKES NEW DISCOVERY AT DEPTH WITH 343 G/T AU OVER 2.15M, 40.6 G/T OVER 2.20M & 9.51 G/T AU OVER 7.45M AT "GOLDEN DOME" ZONE
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 (NYSE-A: NFGC) ha annunciato risultati significativi di perforazione provenienti dal suo Progetto Queensway, compresa una nuova scoperta chiamata 'Golden Dome.' Tra i principali risultati ci sono intersezioni di 343 g/t Au su 2,15 m, 40,6 g/t Au su 2,20 m, e 9,51 g/t Au su 7,45 m. La zona Golden Dome si trova tra Golden Joint e Dome, in un intervallo precedentemente non testato di 500 m, a 200 m sotto le perforazioni esistenti a Dome. L'azienda ha aumentato la sua capacità di perforazione a otto impianti, con cinque a Queensway e tre nel recentemente acquisito Progetto Kingsway.
New Found Gold Corp (NYSE-A: NFGC) ha anunciado resultados significativos de perforación de su Proyecto Queensway, incluida un nuevo descubrimiento llamado 'Golden Dome.' Los aspectos más destacados incluyen intersecciones de 343 g/t Au sobre 2.15m, 40.6 g/t Au sobre 2.20m y 9.51 g/t Au sobre 7.45m. La zona Golden Dome se ubica entre Golden Joint y Dome, en un espacio previamente no probado que abarca 500m, y se encuentra 200m por debajo de la perforación existente en Dome. La empresa ha aumentado su capacidad de perforación a ocho equipos, con cinco en Queensway y tres en el recién adquirido Proyecto Kingsway.
New Found Gold Corp (NYSE-A: NFGC)는 Queensway 프로젝트에서 중요한 시추 결과를 발표했으며, 'Golden Dome'이라는 새로운 발견이 포함되어 있습니다. 주요 하이라이트는 2.15m에서 343 g/t Au, 2.20m에서 40.6 g/t Au, 7.45m에서 9.51 g/t Au의 교차 지점입니다. Golden Dome 지역은 Golden Joint와 Dome 사이에 위치하며, 500m의 이전에 테스트되지 않은 간격에 있으며, Dome에서 기존 시추보다 200m 아래에 발생합니다. 회사는 Queensway에서 다섯 대, 최근 인수한 Kingsway 프로젝트에서 세 대를 포함해 여덟 대의 장비로 시추 능력을 늘렸습니다.
New Found Gold Corp (NYSE-A: NFGC) a annoncé des résultats de forage significatifs provenant de son projet Queensway, y compris une nouvelle découverte appelée 'Golden Dome.' Les points forts incluent des intersections de 343 g/t Au sur 2,15 m, 40,6 g/t Au sur 2,20 m, et 9,51 g/t Au sur 7,45 m. La zone Golden Dome est située entre Golden Joint et Dome, dans un espace précédemment non testé de 500 m, et se trouve à 200 m sous les forages existants à Dome. L'entreprise a augmenté sa capacité de forage à huit forages, avec cinq à Queensway et trois dans le projet Kingsway récemment acquis.
New Found Gold Corp (NYSE-A: NFGC) hat bedeutende Bohrergebnisse aus seinem Queensway-Projekt bekannt gegeben, darunter eine neue Entdeckung namens 'Golden Dome.' Zu den wichtigsten Highlights gehören Schnittstellen von 343 g/t Au über 2,15 m, 40,6 g/t Au über 2,20 m und 9,51 g/t Au über 7,45 m. Die Golden Dome-Zone befindet sich zwischen Golden Joint und Dome, in einer zuvor ungetesteten Lücke von 500 m und liegt 200 m unterhalb der bestehenden Bohrungen bei Dome. Das Unternehmen hat seine Bohrkapazität auf acht Bohranlagen erhöht, davon fünf in Queensway und drei im kürzlich erworbenen Kingsway-Projekt.
- Discovery of new high-grade Golden Dome zone with exceptional gold grades
- Expansion of mineralized footprint with 11 new zones discovered at depth
- Increased drilling capacity with addition of rigs to accelerate exploration
- Successful demonstration of gold system continuity at depth
- None.
Insights
The discovery at Golden Dome represents a significant expansion of New Found Gold's mineralized footprint. The intercepts are exceptional, with highlights of
The deep drilling program continues to yield promising results, with 11 new zones discovered at depth. The addition of three rigs at the recently acquired Kingsway Project demonstrates management's commitment to aggressive exploration. The high-grade intercepts and expanding mineralized system suggest strong potential for resource definition, though economic viability remains to be determined through further drilling and technical studies.
Results Highlights:
Hole No. | From (m) | To (m) | Interval (m) | Au (g/t) | Zone |
NFGC-24-21584 | 482.10 | 489.55 | 7.45 | 9.51 | Golden Dome |
Including | 482.10 | 482.80 | 0.70 | 27.78 | |
Including | 487.40 | 489.00 | 1.60 | 25.53 | |
And4 | 492.35 | 494.50 | 2.15 | 343.12 | |
Including | 493.00 | 493.60 | 0.60 | 1229.00 | |
And4 | 511.00 | 513.20 | 2.20 | 40.59 | |
Including | 511.00 | 511.80 | 0.80 | 109.22 | |
NFGC-24-21354 | 561.65 | 566.50 | 4.85 | 13.68 | Keats-AFZ Deep |
Including | 563.55 | 565.05 | 1.50 | 40.56 | |
NFGC-24-2112-W14 | 850.70 | 852.90 | 2.20 | 23.31 | Keats South Deep |
Including | 852.10 | 852.90 | 0.80 | 61.30 | |
NFGC-24-2112-W34 | 988.65 | 995.85 | 7.20 | 1.97 | Keats South Deep |
NFGC-23-18382* | 214.90 | 217.60 | 2.70 | 12.97 | Keats North |
Including | 216.30 | 216.75 | 0.45 | 73.91 |
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 2 |
Golden Dome Highlights:
- Deep drilling targeting a prospective area between the Golden Joint and Dome zones intersected high-grade gold mineralization over a nearly 30m down-hole interval as demonstrated by several high-grade intercepts with a cumulative length of 11.80m including 343 g/t Au over 2.15m (which contained a 1,230 g/t Au sample over 0.60m core length), 9.51 g/t Au over 7.45m, and 40.6 g/t Au over 2.20m in NFGC-24-2158 (Figures 2-5).
- This broad interval of high-grade mineralization with a cumulative length of 11.80m is a new zone called "Golden Dome" and is located within a previously untested gap in drilling that spans a length of at least 500m partway between Golden Joint and Dome. Today's intercept occurs 200m below existing drilling at Dome (Figures 3 and 5).
- These preliminary results suggest that this zone is part of a larger mineralized structural network connecting Dome to Golden Joint having a combined strike length of 750m and extending to depths of up to 375m (Figure 7). Follow-up drilling is ongoing to define this new discovery.
Additional Deep Drilling Highlights:
- The Company has also received additional results from its ongoing deep drilling program testing the Keats Baseline Fault Zone ("KBFZ")-AFZ structural corridor, consisting of both new deep grid holes from surface and through a series of wedges targeting deep mineralization at Keats South.
- NFGC-24-2135 testing between the Keats segment of the KBFZ and the AFZ intersected another new high-grade discovery at depth with the highlight interval of 13.7 g/t Au over 4.85m, including 40.6 g/t Au over 1.50m. This interval is located immediately east of the AFZ at a vertical depth of 500m and contains visible gold; it is located peripheral to a broader low-grade quartz vein domain. This adds to the nine deep zones recently announced at Queensway (released July 11, 2024), (Figure 6).
- At Keats South, wedge hole NFGC-24-2112-W1 intercepted 23.3 g/t Au over 2.20m at a vertical depth of 645m. This hole was designed to step out from the previously released parent hole NFGC-24-2112 which included an upper zone of 11.0 g/t Au over 2.65m starting from a vertical depth of 585m and a deeper zone of 7.66 g/t Au over 2.70m starting from a vertical depth of 770m (Figure 4).
- Overall, the deep drilling at Keats South has identified two broad domains of Au-bearing quartz veins on the east and west sides of the AFZ with similar mineralization characteristics as seen in the high-grade segments of the KBFZ. The wedging program is designed to rapidly step out on high priority zones to better define their extents of high-grade mineralization. To date, the wedging program has successfully demonstrated that the gold mineral system continues to depth and additional drilling work is required to better understand this region of gold mineralization and expand and define the high-grade component.
- The Company has increased the number of diamond drilling rigs to eight at the project site with five rigs active at Queensway and three rigs active at its recently acquired Kingsway Project which adjoins Queensway along strike to the north.
Greg Matheson, Chief Operating Officer of New Found, stated: "Today's discovery at Golden Dome indicates that high-grade gold is present deeper in the Queensway system. Golden Dome is well positioned in a wide-open area between several major structures including Golden Joint, Dome and Iceberg East with mineralization characteristics akin to those observed at many of the other near surface zones.
"As announced recently on October 24, 2024, the results from the Pistachio discovery at Kingsway show the advancement of scale of the mineralized system made in 2024 at surface, along strike. Paired with our ongoing success at depth, we are seeing a significant increase in the mineralized footprint at Queensway. We have now received results from 21 deep drill holes, leading to the discovery of 11 new zones at depth. Our target pipeline for growth is strong and we recently doubled the number of active drill rigs at the project to more rapidly advance and define many of these new high-grade discoveries."
Drillhole Details
Hole No. | From (m) | To (m) | Interval (m) | Au (g/t) | Zone |
NFGC-24-2117C | No Significant Values | Lotto Deep | |||
NFGC-24-2154 | No Significant Values | Dome | |||
NFGC-24-21584 | 482.10 | 489.55 | 7.45 | 9.51 | Golden Dome |
Including | 482.10 | 482.80 | 0.70 | 27.78 | |
Including | 487.40 | 489.00 | 1.60 | 25.53 | |
And4 | 492.35 | 494.50 | 2.15 | 343.12 | |
Including | 493.00 | 493.60 | 0.60 | 1229.00 | |
And4 | 511.00 | 513.20 | 2.20 | 40.59 | |
Including | 511.00 | 511.80 | 0.80 | 109.22 | |
And4 | 520.65 | 523.35 | 2.70 | 1.45 | |
NFGC-23-12684* | 1045.55 | 1048.00 | 2.45 | 1.96 | Iceberg-AFZ Deep |
And4 | 1061.00 | 1063.00 | 2.00 | 2.90 | |
NFGC-23-18381** | 14.10 | 19.95 | 5.85 | 40.51 | Iceberg |
Including** | 14.10 | 14.80 | 0.70 | 278.00 | Iceberg |
Including** | 18.40 | 19.95 | 1.55 | 22.56 | Iceberg |
And2 | 214.90 | 217.60 | 2.70 | 12.97 | Keats North |
Including | 216.30 | 216.75 | 0.45 | 73.91 | Keats North |
And2 | 224.00 | 226.10 | 2.10 | 2.21 | Keats North |
And4 | 946.65 | 949.55 | 2.90 | 1.04 | Iceberg-AFZ Deep |
NFGC-24-2100 | No Significant Values | Iceberg Alley | |||
NFGC-24-2104 | No Significant Values | Iceberg Alley | |||
NFGC-24-21064 | 35.10 | 37.45 | 2.35 | 1.14 | Iceberg Alley |
NFGC-24-2096 | No Significant Values | Iceberg Alley | |||
NFGC-24-2098 | No Significant Values | Iceberg Alley | |||
NFGC-24-21354 | 536.05 | 538.75 | 2.70 | 1.21 | Keats-AFZ Deep |
And4 | 561.65 | 566.50 | 4.84 | 13.68 | |
Including | 563.55 | 565.05 | 1.50 | 40.56 | |
And4 | 607.80 | 610.00 | 2.20 | 1.17 | |
And4 | 649.35 | 651.65 | 2.30 | 1.23 | |
NFGC-24-2101A* | No Significant Values | Keats South Deep | |||
NFGC-24-2112-W14 | 850.70 | 852.90 | 2.20 | 23.31 | Keats South Deep |
Including | 852.10 | 852.90 | 0.80 | 61.30 | |
And4 | 924.55 | 926.90 | 2.35 | 2.79 | |
And4 | 944.60 | 947.00 | 2.40 | 1.14 | |
NFGC-24-2112-W24 | 886.60 | 888.60 | 2.00 | 1.15 | Keats South Deep |
And4 | 892.25 | 895.20 | 2.95 | 1.61 | |
And4 | 921.85 | 924.60 | 2.75 | 1.64 | |
NFGC-24-2112-W34 | 880.15 | 882.45 | 2.30 | 2.51 | Keats South Deep |
And4 | 988.65 | 995.85 | 7.20 | 1.97 | |
And4 | 1016.70 | 1019.25 | 2.55 | 1.14 | |
And4 | 1037.85 | 1039.85 | 2.00 | 1.26 | |
NFGC-24-21234* | 1446.75 | 1449.40 | 2.65 | 2.64 | Keats South Deep |
NFGC-24-2148 | No Significant Values | Keats South | |||
NFGC-24-2146 | No Significant Values | Keats South |
Table 2: Summary of composite results reported in this press release for Lotto Deep, Dome, Golden Dome, Iceberg-AFZ Deep, Keats-AFZ Deep, Keats South Deep, Iceberg Alley, and Iceberg-AFZ Deep |
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-23-1268 | 300 | -45 | 1234 | 658513 | 5427870 | Iceberg |
NFGC-23-1838 | 299 | -45.5 | 1058 | 658385 | 5427800 | Iceberg |
NFGC-24-2096 | 335 | -45 | 350 | 659364 | 5428536 | Iceberg Alley |
NFGC-24-2098 | 335 | -45 | 233 | 659416 | 5428618 | Iceberg Alley |
NFGC-24-2100 | 335 | -45 | 296 | 659505 | 5428620 | Iceberg Alley |
NFGC-24-2101A | 282 | -52.5 | 1112 | 658075 | 5426899 | Keats South |
NFGC-24-2104 | 268 | -45.5 | 251 | 659512 | 5428796 | Iceberg Alley |
NFGC-24-2106 | 335 | -45 | 203 | 659233 | 5428640 | Iceberg Alley |
NFGC-24-2112-W1 | 320 | -50 | 1136 | 657840 | 5426411 | Keats South |
NFGC-24-2112-W2 | 319 | -49 | 1121 | 657840 | 5426411 | Keats South |
NFGC-24-2112-W3 | 319 | -49 | 1121 | 657840 | 5426411 | Keats South |
NFGC-24-2117C | 268 | -61.5 | 1169 | 659373 | 5429026 | Lotto North |
NFGC-24-2123 | 285 | -48 | 1541 | 657952 | 5426405 | Keats South |
NFGC-24-2135 | 119 | -69 | 929 | 657670 | 5427896 | Keats West |
NFGC-24-2146 | 300 | -45 | 203 | 658281 | 5426623 | Keats South |
NFGC-24-2148 | 300 | -45 | 173 | 658200 | 5426555 | Keats South |
NFGC-24-2154 | 300 | -45 | 431 | 658941 | 5428647 | Dome |
NFGC-24-2158 | 300 | -45 | 578 | 658854 | 5428376 | Dome |
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 photon assay to ALS Canada Ltd. ("ALS") since February 2024.ALS operates under a commercial contract with New Found.
Drill core samples are shipped to ALS for sample preparation and analysis, in
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.
Samples that return values >350 ppm Au are analysed by screen metallic fire assay with gravimetric finish. The sample is divided into 1 kg splits. Each split is pulverized and screened at 106 microns. The entire course fraction (sized greater than 106 microns) are fire assayed. Two splits of the fine fraction (less than 106 microns) are fire assayed. The three assays are combined on a weight averaged basis. All splits are combined on a weight averaged basis.
Select samples prepared at ALS 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"
Collin Kettell, Chief Executive Officer
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 are the main gold intersections reported in New Found Gold's (NFGC) Golden Dome discovery?
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