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About New Found Gold Corp (NFGC)
New Found Gold Corp. is a Canada-based mineral exploration company dedicated to the discovery, exploration, and evaluation of gold resources. The company’s primary focus lies in its flagship Queensway Project, located in Newfoundland and Labrador, Canada. Spanning a substantial 1,756 km² area, the project is strategically positioned near key infrastructure such as the Trans-Canada Highway, Gander International Airport, and high-voltage power lines, offering logistical advantages for exploration activities.
Core Business and Operations
New Found Gold operates within the high-risk, high-reward gold exploration segment of the mining industry. Its business model centers on identifying and delineating economically viable gold deposits, with the ultimate goal of creating value through resource definition, strategic partnerships, or asset monetization. The company is currently undertaking an ambitious 650,000-meter drilling program at the Queensway Project, designed to expand its understanding of the mineralized zones and uncover high-grade gold resources. This exploration effort is supported by advanced geological techniques, including diamond drilling and photon assay analysis, ensuring precise and reliable data collection.
The Queensway Project
The Queensway Project is the cornerstone of New Found Gold’s operations. Situated along the Appleton Fault Zone (AFZ), a region renowned for its gold potential, the project has already yielded significant discoveries, including high-grade zones such as Keats, Iceberg, and Golden Dome. The company’s exploration activities have revealed the presence of free-milling gold, which is amenable to conventional extraction methods like gravity separation and carbon-in-leach (CIL) processing. This positions the Queensway Project as a promising asset within the Canadian gold exploration landscape.
Exploration Methodology and Technical Expertise
New Found Gold employs rigorous exploration methodologies to maximize discovery potential. Its team of geologists and technical experts utilizes advanced drilling techniques, comprehensive sampling protocols, and state-of-the-art assay methods to ensure accurate and reliable results. The company’s commitment to quality assurance and control (QA/QC) is evident in its adherence to industry best practices, including the use of ISO-17025 accredited laboratories for sample analysis.
Strategic Advantages
- Location: The Queensway Project benefits from proximity to major infrastructure, reducing operational costs and facilitating efficient exploration.
- Scale: With a vast land package and extensive drill programs, New Found Gold has the capacity to explore multiple high-priority targets simultaneously.
- Technical Expertise: The company’s team includes seasoned professionals with decades of experience in gold exploration and resource development.
Challenges and Industry Context
Operating in the junior gold exploration sector, New Found Gold faces challenges such as geological uncertainty, regulatory compliance, and funding requirements. However, its strategic focus on a highly prospective region and its well-funded exploration program mitigate some of these risks. The company’s ability to deliver consistent exploration results enhances its credibility and positions it favorably within the competitive landscape.
Conclusion
New Found Gold Corp. exemplifies the potential of junior exploration companies to unlock significant value through disciplined exploration and technical excellence. Its focus on the Queensway Project, combined with its strategic location and robust exploration program, underscores its commitment to discovering high-grade gold resources. While the nature of mineral exploration entails inherent risks, New Found Gold’s methodical approach and industry expertise position it as a noteworthy player in the Canadian gold exploration industry.
New Found Gold Corp (AMEX:NFGC) has filed its Amended Annual Information Form with Canadian regulators and the SEC on Form 40-F. The company previously submitted its Original Annual Information Form and Consolidated Annual Financial Statements for the year ending December 31, 2021. New Found holds a 100% interest in the Queensway Project in Newfoundland, which is currently undergoing a 400,000m drill program, now 48% complete. As of June 2022, the company is well-funded with approximately $87 million in cash and marketable securities.
New Found Gold Corp. (NYSE-A: NFGC) announced a significant new high-grade gold discovery at the Lotto prospect, identifying 89.5 g/t Au over 2.00m in drill hole NFGC-22-552, located 55m below surface. This discovery is part of a systematic drilling program targeting the Appleton Fault Zone. Approximately 48% of the planned 400,000m drill program at the Queensway Project is complete, with ongoing drilling expected to further define high-grade mineralization.
New Found Gold Corp. announces the appointment of Ron Hampton as Chief Development Officer, enhancing its leadership in the ongoing Queensway Project. Hampton brings over 25 years of experience in project and engineering leadership, previously managing major mining projects valued at over $2 billion. The company is currently halfway through a 400,000m drill program at Queensway, which has already yielded high-grade gold discoveries. Additionally, Dr. Quinton Hennigh has stepped down from the Board but will continue to serve as a Technical Advisor.
New Found Gold Corp. (NFGC) reports assay results from 39 diamond drill holes aimed at enhancing the gold vein network at the Keats Zone, part of a 400,000m drilling program at its 1500km² Queensway project in Newfoundland. Significant findings include NFGC-21-364A reporting 56.3 g/t Au over 2.05m and NFGC-22-593 with 9.12 g/t Au over 8.20m, indicating high-grade mineralization extending to the surface. Currently, 48% of the drilling program has been completed. The exploration team focuses on optimizing drilling targets and understanding mineralization controls.
New Found Gold Corp. (NFGC) has initiated shipments of drill core samples from its Queensway project to MSALAB's Chrysos PhotonAssay lab in Val d'Or, Quebec. This follows a significant 400,000m drill campaign on their 100% owned project near Gander, Newfoundland. The initial samples aim to validate the Chrysos PhotonAssay method, which is expected to enhance assay turnaround times and reduce costs. Additionally, New Found is advancing its new core processing facility in Gander and is increasing its drilling capacity to fourteen rigs.
New Found Gold Corp. (AMEX: NFGC) announced significant high-grade gold discoveries at its Queensway Project, located in Newfoundland. New discoveries include drillhole NFGC-22-538, which intercepted 275 g/t Au over 2.15m, and NFGC-22-533, with 8.70 g/t Au over 6.75m. This marks a notable expansion of the gold mineralization in the Appleton Fault Zone, with three new high-grade discoveries contributing to ongoing exploration efforts. The company has drilled approximately 43% of its 400,000m drill program, supported by about $100 million in funding.
New Found Gold Corp. has appointed Collin Kettell as CEO and Vijay Mehta to its board. Former CEO Craig Roberts transitions to Lead Advisor. Kettell stated the company is well-positioned amid renewed interest in gold, having discovered high-grade gold over 2.7km along the Appleton Fault Zone. The company has over 180 staff, 11 drills operational, and plans to ramp up to 14 drills, executing a 400,000m drilling program at the Queensway Project, approximately 38% complete. As of April 2022, they have around $106 million in working capital.
New Found Gold Corp. (NYSE-A: NFGC) announced a significant high-grade gold discovery at the 515 Zone, situated between the Keats and Golden Joint zones in Newfoundland. The drilling program, the first part of a systematic exploration along the Appleton Fault Zone, returned impressive assay results of 9.21 g/t Au over 2.15m and 43.9 g/t Au over 3.85m. This follows a recent discovery of 79.8 g/t Au over 3.00m in a nearby hole. The company is progressing with a 400,000m drill program, currently 40% complete, with robust funding of approximately $106 million.
New Found Gold Corp. has released assay results from 45 diamond drill holes aimed at expanding high-grade gold mineralization at the Keats discovery, part of the Queensway project in Newfoundland. The ongoing 400,000m drill campaign has revealed significant gold grades, including 79.81 g/t Au over 3.00m in NFGC-22-491. New discovery zones and extensions illustrate the potential of the Appleton Fault Zone, emphasizing continuous high-grade gold mineralization. Currently, 40% of the drilling program is complete, with 11 core rigs operational and plans to increase to 14.
New Found (TSX-V: NFG, NYSE-A: NFGC) has issued a press release to address concerns from the British Columbia Securities Commission regarding its March 2022 report. The company has amended its assay results to include additional higher-grade intervals and confirmed the accuracy of the assay data through verification by a Qualified Person. Key highlights include significant intervals from the Lotto Main and Golden Joint zones, with notable gold grades reported, such as 69.15 g/t over 14.15m in hole NFGC-21-462. All data is now compliant with NI 43-101 standards.
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