New Found Reports Several High-grade Intercepts From Keats North Including 117 g/t Au Over 2.00m, 36.5 g/t Au Over 2.15m & 20.8 g/t Au Over 2.00m
New Found Gold Corp. has released results from 36 diamond drill holes at its 100%-owned Queensway project, highlighting significant high-grade gold intervals in the Keats North area, including sample NFGC-22-728 with 116.93 g/t Au over 2.0m. The ongoing drill program has covered approximately 79% of the planned 400,000m, with notable findings indicating a new gold system. Follow-up drilling is set to further define high-grade targets. The project is located near Gander, Newfoundland and Labrador, with no current economic evaluations or identified resources.
- High-grade gold intervals reported, with NFGC-22-728 showing 116.93 g/t Au over 2.0m.
- 79% of the planned 400,000m drill program has been completed.
- Successful identification of a new gold system with high-grade potential.
- No economic evaluations have been completed for the Queensway Project.
- The project currently has no identified resources or reserves.
Figure 1. Keats,
Keats North Highlights:
Hole No. |
From (m) |
To (m) |
Interval (m)1 |
Au (g/t) |
Zone |
NFGC-22-700 |
165.90 |
171.15 |
5.25 |
7.63 |
Keats N |
Including |
168.95 |
170.55 |
1.60 |
18.82 |
|
NFGC-22-728 |
249.20 |
251.20 |
2.00 |
116.93 |
Keats N |
Including |
250.15 |
250.80 |
0.65 |
358.07 |
|
NFGC-22-754 |
118.00 |
122.25 |
4.25 |
5.68 |
Keats N |
Including |
118.00 |
118.80 |
0.80 |
14.30 |
|
Including |
121.50 |
122.25 |
0.75 |
11.65 |
|
NFGC-22-762 |
52.50 |
54.65 |
2.15 |
36.49 |
Keats N |
Including |
53.35 |
54.00 |
0.65 |
115.00 |
|
NFGC-22-796 |
230.95 |
235.10 |
4.15 |
7.41 |
Keats N |
Including |
230.95 |
231.45 |
0.50 |
35.90 |
|
Including |
234.50 |
235.10 |
0.60 |
10.20 |
|
And |
240.40 |
242.65 |
2.25 |
17.06 |
|
Including |
240.40 |
241.40 |
1.00 |
38.10 |
|
NFGC-22-825 |
120.00 |
122.00 |
2.00 |
20.82 |
Keats N |
Including |
120.00 |
121.00 |
1.00 |
41.33 |
|
And |
140.00 |
142.00 |
2.00 |
4.07 |
|
And |
198.30 |
200.85 |
2.55 |
11.55 |
|
And Including |
199.90 |
200.85 |
0.95 |
30.91 |
Table 1: Keats North Drilling Highlights
1Note that the host structures are interpreted to be steepling dipping and true widths are unknown at this time. Infill veining in secondary structures with multiple orientations crosscutting the primary host structures are commonly observed in drill core which could result in additional uncertainty in true width. Composite intervals reported carry a minimum weighted average of 1 g/t Au diluted over a minimum core length of 2m with a maximum of 2m consecutive dilution. Included high-grade intercepts are reported as any consecutive interval with grades greater than 10 g/t Au. Grades have not been capped in the averaging and intervals are reported as drill thickness.
-
The
Keats North prospect consists of a complex network of brittle fault zones that host a number of high-grade gold-bearing veins that have been defined over an area 150m wide by 630m strike. Exploration to date has successfully extended the gold mineralization to depths of 200m and has identified several domains of high-grade gold that often occur at structural intersections within this fault system (Figure 1). - Several holes into the Keats North prospect contained significant intervals including 117 g/t Au over 2.00m in NFGC-22-728, 36.5 g/t Au over 2.15m in NFGC-22-762, 20.8 g/t Au over 2.00m in NFGC-22-825, and 17.1 g/t Au over 2.25m in NFGC-22-796. These significant intervals along with many others occur largely within and around the Umbra, Penumbra, and Enigma structures, however, others fall outside into new structural splays; these zones remain open (Figure 1).
- Follow-up drilling has commenced targeting these domains of high-grade to better define their geometries to inform future drilling campaigns focused on expansion. This first pass of drilling across the Keats North prospect has been successful at identifying a new gold system with proven high-grade potential and has provided important geological information for detailed geological modeling which has been used to design the follow-up program.
Drillhole Details
Hole No. |
From (m) |
To (m) |
Interval (m)1 |
Au (g/t) |
Zone |
NFGC-22-546 |
66.00 |
68.00 |
2.00 |
1.66 |
Keats N |
And |
212.00 |
214.50 |
2.50 |
1.01 |
|
NFGC-22-559 |
71.75 |
74.00 |
2.25 |
1.69 |
Keats N |
And |
78.00 |
82.90 |
4.90 |
1.14 |
|
And2 |
131.95 |
134.00 |
2.05 |
13.22 |
|
Including2 |
133.00 |
134.00 |
1.00 |
24.7 |
|
And2 |
148.00 |
150.70 |
2.70 |
10.65 |
|
Including2 |
148.00 |
149.70 |
1.70 |
14.92 |
|
And2 |
157.40 |
161.80 |
4.40 |
1.28 |
|
NFGC-22-565 |
60.65 |
63.00 |
2.35 |
3.19 |
Keats N |
NFGC-22-5772 |
34.20 |
36.80 |
2.60 |
12.88 |
Keats N |
Including2 |
36.15 |
36.80 |
0.65 |
48.9 |
|
And |
73.10 |
79.00 |
5.90 |
1.09 |
|
And |
125.50 |
127.75 |
2.25 |
1.35 |
|
NFGC-22-579 |
109.00 |
111.00 |
2.00 |
1.41 |
Keats N |
And |
118.05 |
120.65 |
2.60 |
1.44 |
|
NFGC-22-596 |
No Significant Values |
Keats N |
|||
NFGC-22-602 |
67.90 |
69.90 |
2.00 |
2.07 |
Keats N |
And2 |
182.30 |
184.50 |
2.20 |
5.29 |
|
Including2 |
183.00 |
184.00 |
1.00 |
10.55 |
|
NFGC-22-612 |
20.30 |
22.70 |
2.40 |
1.53 |
Keats N |
NFGC-22-613 |
No Significant Values |
Keats N |
|||
NFGC-22-613A |
137.55 |
140.00 |
2.45 |
3.46 |
Keats N |
NFGC-22-615 |
97.65 |
99.75 |
2.10 |
1.15 |
Keats N |
And |
120.20 |
123.00 |
2.80 |
1.03 |
|
And |
135.55 |
140.00 |
4.45 |
1.07 |
|
NFGC-22-6252 |
33.00 |
35.00 |
2.00 |
4.17 |
Keats N |
Including2 |
33.80 |
34.50 |
0.70 |
11.85 |
|
And |
48.70 |
52.50 |
3.80 |
5.73 |
|
Including |
50.60 |
51.50 |
0.90 |
17.80 |
|
And |
119.75 |
122.10 |
2.35 |
1.18 |
|
NFGC-22-627 |
115.85 |
118.45 |
2.60 |
1.13 |
Keats N |
NFGC-22-6392 |
15.60 |
23.00 |
7.40 |
3.39 |
Keats N |
Including2 |
22.15 |
23.00 |
0.85 |
16.00 |
|
And2 |
65.55 |
68.45 |
2.90 |
2.92 |
|
Including2 |
67.95 |
68.45 |
0.50 |
15.05 |
|
And |
215.60 |
217.65 |
2.05 |
1.01 |
Keats N |
NFGC-22-651 |
No Significant Values |
Keats N |
|||
NFGC-22-652 |
No Significant Values |
Keats N |
|||
NFGC-22-653 |
No Significant Values |
Keats N |
|||
NFGC-22-657 |
25.75 |
31.70 |
5.95 |
2.03 |
Keats N |
Including |
25.75 |
26.45 |
0.70 |
10.20 |
|
And |
42.95 |
45.65 |
2.70 |
2.27 |
|
And |
54.00 |
56.00 |
2.00 |
1.13 |
|
And |
58.00 |
60.00 |
2.00 |
1.43 |
|
NFGC-22-665 |
28.20 |
31.00 |
2.80 |
3.73 |
Keats N |
Including |
28.20 |
29.00 |
0.80 |
11.30 |
|
And2 |
46.60 |
52.35 |
5.75 |
18.95 |
|
Including2 |
48.25 |
48.85 |
0.60 |
162.50 |
|
And2 |
70.50 |
73.15 |
2.65 |
1.12 |
|
And2 |
75.45 |
77.45 |
2.00 |
1.05 |
|
NFGC-22-674 |
10.65 |
13.10 |
2.45 |
1.05 |
Keats N |
And |
74.00 |
76.25 |
2.25 |
1.47 |
|
NFGC-22-677 |
44.15 |
46.30 |
2.15 |
1.09 |
Keats N |
NFGC-22-682 |
No Significant Values |
Keats N |
|||
NFGC-22-692 |
No Significant Values |
Keats N |
|||
NFGC-22-693 |
17.90 |
20.50 |
2.60 |
3.72 |
Keats N |
Including |
19.00 |
19.65 |
0.65 |
10.50 |
|
NFGC-22-697 |
66.35 |
68.80 |
2.45 |
2.43 |
Keats N |
And |
129.70 |
132.05 |
2.35 |
1.33 |
|
NFGC-22-700 |
165.90 |
171.15 |
5.25 |
7.63 |
Keats N |
Including |
168.95 |
170.55 |
1.60 |
18.82 |
|
NFGC-22-711 |
393.65 |
396.30 |
2.65 |
4.61 |
Keats N |
Including |
395.00 |
395.55 |
0.55 |
22.00 |
|
NFGC-22-728 |
249.20 |
251.20 |
2.00 |
116.93 |
Keats N |
Including |
250.15 |
250.80 |
0.65 |
358.07 |
|
NFGC-22-736 |
No Significant Values |
Keats N |
|||
NFGC-22-748 |
No Significant Values |
Keats N |
|||
NFGC-22-754 |
No Significant Values |
Keats W |
|||
And |
118.00 |
122.25 |
4.25 |
5.68 |
Keats N |
Including |
118.00 |
118.80 |
0.80 |
14.30 |
|
Including |
121.50 |
122.25 |
0.75 |
11.65 |
|
NFGC-22-762 |
52.50 |
54.65 |
2.15 |
36.49 |
Keats N |
Including |
53.35 |
54.00 |
0.65 |
115.00 |
|
NFGC-22-767 |
313.90 |
316.00 |
2.10 |
1.34 |
Keats N |
And |
321.00 |
323.00 |
2.00 |
2.63 |
|
NFGC-22-786 |
80.50 |
83.00 |
2.50 |
1.76 |
Keats N |
NFGC-22-796 |
40.00 |
42.35 |
2.35 |
3.37 |
Keats N |
And |
230.95 |
235.10 |
4.15 |
7.41 |
|
Including |
230.95 |
231.45 |
0.50 |
35.90 |
|
Including |
234.50 |
235.10 |
0.60 |
10.20 |
|
And |
240.40 |
242.65 |
2.25 |
17.06 |
|
Including |
240.40 |
241.40 |
1.00 |
38.10 |
|
NFGC-22-825 |
120.00 |
122.00 |
2.00 |
20.82 |
Keats N |
Including |
120.00 |
121.00 |
1.00 |
41.33 |
|
And |
140.00 |
142.00 |
2.00 |
4.07 |
|
And |
198.30 |
200.85 |
2.55 |
11.55 |
|
And Including |
199.90 |
200.85 |
0.95 |
30.91 |
Table 2: Summary of composite results reported in this press release for
1Note that the host structures are interpreted to be steepling dipping and true widths are unknown at this time. Infill veining in secondary structures with multiple orientations crosscutting the primary host structures are commonly observed in drill core which could result in additional uncertainty in true width. Composite intervals reported carry a minimum weighted average of 1 g/t Au diluted over a minimum core length of 2m with a maximum of 2m consecutive dilution. Included high-grade intercepts are reported as any consecutive interval with grades greater than 10 g/t Au. Grades have not been capped in the averaging and intervals are reported as drill thickness. 2Previously reported interval.
Hole No. |
Azimuth (°) |
Dip (°) |
Length (m) |
UTM E |
UTM N |
NFGC-22-546 |
299 |
-49 |
380 |
658344 |
5428026 |
NFGC-22-559 |
300 |
-45 |
333 |
658233 |
5427628 |
NFGC-22-565 |
300 |
-45 |
99 |
658204 |
5427702 |
NFGC-22-577 |
300 |
-45 |
260 |
658244 |
5427852 |
NFGC-22-579 |
120 |
-45 |
200 |
657963 |
5427741 |
NFGC-22-596 |
300 |
-45 |
413 |
658184 |
5427656 |
NFGC-22-602 |
300 |
-45 |
335 |
658339 |
5427970 |
NFGC-22-612 |
300 |
-45 |
305 |
658215 |
5427638 |
NFGC-22-613 |
120 |
-45 |
80 |
658153 |
5428078 |
NFGC-22-613A |
120 |
-45 |
305 |
658153 |
5428078 |
NFGC-22-615 |
300 |
-45 |
299 |
658322 |
5427980 |
NFGC-22-625 |
300 |
-45 |
353 |
658176 |
5427689 |
NFGC-22-627 |
120 |
-45 |
212 |
657934 |
5427742 |
NFGC-22-639 |
300 |
-45 |
359 |
658232 |
5427802 |
NFGC-22-651 |
300 |
-45 |
188 |
658237 |
5427828 |
NFGC-22-652 |
300 |
-45 |
222 |
658280 |
5427659 |
NFGC-22-653 |
300 |
-45 |
320 |
658220 |
5427665 |
NFGC-22-657 |
300 |
-45 |
293 |
658222 |
5427779 |
NFGC-22-665 |
300 |
-45 |
159 |
658226 |
5427762 |
NFGC-22-674 |
300 |
-45 |
131 |
658212 |
5427755 |
NFGC-22-677 |
300 |
-45 |
203 |
658195 |
5427736 |
NFGC-22-682 |
300 |
-45 |
251 |
658150 |
5427647 |
NFGC-22-692 |
300 |
-45 |
224 |
658170 |
5427635 |
NFGC-22-693 |
300 |
-45 |
152 |
658217 |
5427724 |
NFGC-22-697 |
300 |
-45 |
227 |
658223 |
5427735 |
NFGC-22-700 |
300 |
-45 |
374 |
658204 |
5427616 |
NFGC-22-711 |
300 |
-45 |
401 |
658220 |
5427607 |
NFGC-22-728 |
300 |
-45 |
260 |
658237 |
5427597 |
NFGC-22-736 |
300 |
-45 |
200 |
658283 |
5427686 |
NFGC-22-748 |
300 |
-45 |
236 |
658304 |
5427674 |
NFGC-22-754 |
120 |
-45 |
134 |
658092 |
5427940 |
NFGC-22-762 |
300 |
-45 |
245 |
658261 |
5427727 |
NFGC-22-767 |
300 |
-45 |
494 |
658164 |
5427610 |
NFGC-22-786 |
300 |
-45 |
257 |
658193 |
5427593 |
NFGC-22-796 |
300 |
-45 |
353 |
658218 |
5427580 |
NFGC-22-825 |
300 |
-45 |
443 |
658126 |
5427602 |
Table 3: Details of the drill hole reported in this press release
Queensway 400,000m Drill Program Update
Approximately
Sampling, Sub-sampling, and Laboratory
True widths of the intercepts reported in this press release have yet to be determined and further exploration is required. Infill veining in secondary structures with multiple orientations crosscutting the primary host structures are commonly observed in drill core which could result in additional variability in true width. 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 2m 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 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.
NFG submits 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. 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/20221205005267/en/
Per: "Collin Kettell"
Email: ckettell@newfoundgold.ca
Phone: +1 (845) 535-1486
Source:
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