New Found Gold Corp - NFGC STOCK NEWS

New Found Gold Corp. (NYSE American: NFGC) provided an overview of its 2021 exploration at the Queensway Project, highlighting significant expansions and discoveries. The high-grade Keats Zone was expanded to over 500m along strike, with notable drill results including 88.53 g/t Au over 3.35m. The company raised over $120 million in 2021 and concluded the year with $130 million in working capital and a market capitalization of approximately $1.36 billion. An aggressive exploration program is planned for 2022, aiming to cover more ground and expand on existing discoveries.

New Found Gold Corp. (AMEX:NFGC) provides an update on its exploration at the Queensway Project in Newfoundland. Drilling continues with ten rigs, achieving over 127,540 meters drilled. The program is set to expand to 14 rigs by Q1 2022. The company expects assay results from 30,700 meters of core pending testing, with the first results anticipated in January. Additionally, a new consultant, Lynda Bloom, has been retained to enhance quality control processes. The project has a strong financial position with approximately $130 million in working capital.

New Found Gold Corp. has successfully completed its acquisition of three royalty interests, totaling 0.6% of net returns from its Linear and JBP Linear properties, pivotal areas within the Queensway Project. The deal involved a cash payment of $3,900,000 and the issuance of 458,823 common shares to the vendors. This strategic acquisition enhances New Found's asset portfolio ahead of its ongoing 400,000m drill program at Queensway, supported by a robust working capital of approximately $140 million.

New Found Gold Corp. has successfully completed a non-brokered private placement, issuing 5,000,000 flow-through shares at $9.60 each, generating $48,000,000 in gross proceeds. Notably, Eric Sprott acquired the entire offering, now holding approximately 22% of the company's outstanding shares. The proceeds are designated for exploration expenses linked to the Queensway Project in Newfoundland and the Lucky Strike Project in Ontario. This financing enhances the company's capacity for ongoing drilling initiatives, supported by a robust working capital of $140 million.

New Found Gold Corp. announced a non-brokered private placement of 5 million common shares at C$9.60 each, raising gross proceeds of C$48 million. The TSX Venture Exchange has granted conditional approval for the offering, which is set to close on November 24, 2021. The company, which holds a 100% interest in the Queensway Project in Newfoundland, plans to fund a 400,000m drill program with a projected working capital increase to approximately C$143 million upon closing the offering.

New Found Gold Corp. (NFGC) has successfully entered into three royalty purchase agreements, acquiring 100% of royalty interests totaling 0.6% on its Linear and JBP Linear properties. The Company will pay $3.9 million in cash and stock, significantly reducing its royalty burden to just 0.4%. This transaction strengthens the Company’s position in the Queensway Project, which includes key discoveries. New Found is well funded with approximately $98 million in working capital, expected to rise to $143 million following a recent financing.

New Found Gold Corp. (NFGC) has announced a non-brokered private placement with Eric Sprott, issuing 5 million common shares at C$9.60 each, raising gross proceeds of C$48 million. The shares will qualify as flow-through shares under Canadian tax law, with proceeds directed towards exploration expenses at the Queensway and Lucky Strike projects. The offering requires customary approvals, including from the TSX Venture Exchange. Post-offering, Sprott's ownership will rise to 36,601,200 shares. The company anticipates closing shortly after approvals are secured.

New Found Gold Corp. (NFGC) has announced the initiation of assay testing for core samples from its 100%-owned Queensway Project using Chrysos PhotonAssay™ technology. The first shipment of drill core samples from Gander, Newfoundland, is planned for this week, with results expected soon. The partnership with Novo Resources Corp. allows priority access to Intertek’s facilities in Perth, Australia, known for rapid turnaround times. The company aims to enhance assay accuracy and reduce delays in reporting critical drilling results.

New Found Gold Corp. (NYSE American: NFGC) has announced updates on its QA/QC program at the Queensway Project, including plans to implement Chrysos PhotonAssay™ methods for assaying core samples. Independent consultants found lower assay grades from Eastern Analytical compared to ALS, indicating a potential bias, especially in higher-grade samples. The company is initiating two test programs to investigate this issue further. They will also shift to whole-core sampling to enhance accuracy and reduce variability. New Found is in discussions to conduct approximately 20,000 assays per month using PhotonAssay™.