New Found Gold Corp - NFGC STOCK NEWS

New Found Gold Corp. has filed a National Instrument 43-101 Technical Report for its Queensway Project, effective January 24, 2023. This report updates exploration activities including prospecting, sampling, and diamond drilling since the last report dated May 31, 2022. The project is strategically located 15 km from Gander, Newfoundland, with significant infrastructure support. New Found is conducting a robust 500,000m drilling program and is well-funded with approximately $82 million in cash and securities as of February 2023. The report was prepared by an independent qualified person to ensure compliance with industry standards.

New Found Gold Corp. has inaugurated a new 25,000 sq ft core shack and office facility in Gander, Newfoundland, supporting its ongoing 500,000m drill campaign at the Queensway Project. The facility includes 15,000 sq ft for core processing and 10,000 sq ft of office space, designed for increased operational efficiency. Completed within budget and time, the facility will enhance the Company's exploration capabilities. As of January 2023, New Found has approximately $90 million in cash and securities for the drilling program. The project area spans 1,650 km² and is well-supported by local infrastructure.

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.

New Found Gold Corp. (NFGC) announced positive results from 51 diamond drill holes conducted at its Queensway project in Newfoundland. This ongoing program targets the highly prospective Appleton Fault Zone (AFZ), revealing significant gold mineralization extending over 4.1 km. Key highlights include intercepts of 72.66 g/t Au over 2.20m in NFGC-22-774 and 79.62 g/t Au over 2.00m in NFGC-22-863. The discovery of the new TCH Zone and a vein named 'Rocket' at Knob showcase potential for further exploration. The company plans to continue aggressive drilling to define high-grade gold zones across the project.

New Found Gold Corp. (NFGC) announced results from 48 diamond drill holes in the Appleton Fault Zone, highlighting significant gold mineralization at Lotto North and Zone 36. Notable findings include drill hole NFGC-22-788, which recorded 16.12 g/t Au over 5.30m, and NFGC-22-753 with 11.38 g/t Au over 3.30m. The ongoing 500,000m drill program aims to expand high-grade mineralization. Additionally, the company updated its at-the-market equity offering, issuing 500,229 shares at an average price of C$5.097, raising over C$2M in net proceeds.

New Found Gold Corp. (NYSE-A: NFGC) continues its environmental baseline studies and pre-development evaluations at the 100% owned Queensway Project in Newfoundland and Labrador. This marks the third year of environmental assessments, which include hydrology and wildlife studies to prepare for mine permitting. The company has engaged metallurgist Gary Simmons to oversee metallurgical testing, aiming to optimize gold recovery. Additional pre-development studies will assess the geotechnical and geochemical properties of the host rock, alongside stakeholder engagement efforts.

New Found Gold Corp. (AMEX:NFGC) is expanding its exploration program at the Queensway Project in Newfoundland. The company has completed 80% of its 400,000m diamond drill program and plans to increase the total to 500,000m by the end of 2023. They have completed 319,000m of drilling to date, with 60,000m pending assay results. The program is fully funded by $90 million in cash and marketable securities. Focused drilling will target the Appleton and JBP fault zones, aiming to identify new high-grade gold mineralization.

New Found Gold Corp. (NFGC) reported on its exploration achievements at the 100%-owned Queensway Project for 2022. Key highlights include the discovery of multiple new zones along the Appleton Fault Zone, with significant intercepts such as 42.6 g/t Au over 32m at Keats West. The Company completed a record 184,911m of drilling and raised $50 million in financing with minimal dilution. New Found's current cash and marketable securities total $90.6 million. The firm is focused on aggressive exploration to further enhance gold mineralization.

New Found Gold Corp. (NFGC) has successfully closed a public offering of 6,250,000 flow-through shares at $8.00 each, raising a total of $50 million. Proceeds will be allocated towards eligible exploration expenses at the Queensway Project in Newfoundland, with all expenditures to be completed by December 31, 2023. Following the offering, the company's cash and marketable securities will total approximately $93.5 million. The offering was underwritten by a syndicate led by BMO Capital Markets, with noted participation from Eric Sprott, preserving his 19.9% interest in the company.