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New Found Gold Corp. announced the appointment of Douglas Hurst as a Director, effective immediately. Hurst was a founding member of Newmarket Gold, which sold for approximately $1 billion to Kirkland Lake Gold in 2016. His extensive experience in the mining industry includes the founding of International Royalty Corporation, sold for about $700 million in 2010. The company also reported the resignation of John Anderson from the board. New Found is engaging in a 200,000m drilling program at the Queensway project, with a working capital balance of around $74 million.
New Found Gold Corp. announced significant assay results from four additional drill holes at the Keats Zone, part of their 200,000m diamond drill program at the Queensway Project in Newfoundland. Notable results include 131.09 g/t Au over 4.65m and 124.44 g/t over 17.70m in hole NFGC-20-59. These results confirm high-grade gold mineralization trends and further validate the potential of the Keats Zone. The ongoing drilling aims to enhance understanding of the area's mineralization and aims for additional results soon.
New Found Gold Corp. (TSXV: NFG) has granted incentive stock options totaling 1,369,000 common shares at an exercise price of $6.79, part of its 10% rolling stock option plan. This brings the total issued stock options to 15,216,500, representing 10% of outstanding shares. Additionally, a correction was made regarding the highlight interval of Hole NFGC-21-113, now correctly reported as 12.52 g/t Au over 2.55m. New Found is currently engaged in a 200,000m drilling program at its Queensway Project and has a working capital of approximately $75 million.
New Found Gold Corp. has released assay results from four additional drill holes at the Keats Zone, part of its ongoing 200,000m diamond drill program at the Queensway Project in Newfoundland. Notable highlights include Hole NFGC-21-143, which returned gold grades of 63.71 g/t over 8.45m and 16.93 g/t over 2.5m, extending the high-grade zone at Keats to 350m down plunge. Results indicate ongoing high-grade gold mineralization, with two drills continuing to explore this promising area.
New Found Gold Corp. (TSXV: NFG, OTC: NFGFF) reported assay results from seven additional drill holes at the Keats Zone, part of its 200,000m diamond drill program at the Queensway Project in Newfoundland. Key highlights include Hole NFGC-21-137, which returned an exceptional 261.3 g/t Au over 7.2 meters, marking the highest grade x width result to date. The company plans to increase its drill count from 8 to 10 drills to enhance exploration efforts. Overall, these results confirm the vertical extent of high-grade mineralization and support further drilling in the area.
New Found Gold Corp. (NFGFF) has completed a non-brokered private placement, issuing 2,857,000 flow-through shares at $5.25 each, raising approximately $15 million. This financing will be utilized for Canadian exploration expenses related to the Queensway Project in Newfoundland. Eric Sprott purchased the entire offering, increasing his ownership to 18.4%. The company currently holds about $79 million in working capital and is executing a 200,000-meter drill program at Queensway. The FT shares have a hold period until August 9, 2021.
New Found Gold Corp. has announced assay results from ten new drill holes at the Keats Zone, part of its ongoing 200,000m diamond drilling program at the Queensway Project. Key findings indicate high-grade gold mineralization, including assay results of up to 106.5 g/t Au over 9.2m in hole NFGC-21-122 and 45.6 g/t Au over 4.05m in NFGC-21-74. The drilling continues to confirm the continuity and extension of high-grade zones at Keats, with a focus on further defining near-surface mineralization.
New Found Gold Corp. announced positive assay results from six additional drill holes at the Keats Zone within its 100%-owned Queensway Project in Newfoundland. Key findings include:
- NFGC-21-97: 37.2 g/t Au over 6.45m
- NFGC-21-101: 17.9 g/t Au over 8.45m
- NFGC-21-78: 18.2 g/t Au over 2.3m
These results support the continuity of high-grade gold mineralization, prompting further drilling targeting extensions of this zone.
New Found Gold Corp. has announced encouraging assay results from its drilling program at the Lotto Zone of its Queensway Project in Newfoundland. Noteworthy results include NFGC-21-109, which reported 51.3 g/t Au over 3.2m, and NFGC-21-115 showing 53.3 g/t Au over 3.1m. The ongoing 200,000 m diamond drill program has confirmed high-grade gold continuity to a vertical depth of 130m, with additional drilling planned. The company also filed a preliminary base shelf prospectus for up to $100 million in security offerings to leverage favorable market conditions.
New Found Gold Corp. (NFGFF) has announced a non-brokered private placement of 2,857,000 flow-through shares priced at $5.25 each, raising $14,999,250. The shares will fund Canadian exploration expenses and are purchased entirely by Eric Sprott. The financing is subject to regulatory approval and customary conditions, including documentation finalization. Upon closing, the company expects working capital to reach approximately $84 million. The gross proceeds are also subject to a 3.5% finders' fee.
