| Announcement Date: | 2022-08-02 |
|---|---|
| Announcement Type: | Drilling Results |
| Announcement Code: | NI43-101 |
| Company name: | New Found Gold Corp. |
| Project name: | Queensway |
| Location: | Canada |
| Commodities: | Gold |
| Highlight: | Drilling results incl. 2.75m @ 45.9g/t Au from 22.55m |
| Resources: | only available to subscribers |
| CP/QP: | only available to subscribers |
| Announcement summary: | Vancouver, BC, August 2, 2022 – New Found Gold Corp. (“New Found” or the “Company”) (TSX-V: NFG, NYSE-A: NFGC) is pleased to announce the results from 17 diamond drill holes that were completed as part of an ongoing systematic drill program exploring a highly prospective segment of the Appleton Fault Zone (“AFZ”) immediately north of the Keats Zone. New Found’s 100% owned Queensway project comprises an approximately 1500km2 area, accessible via the Trans-Canada Highway approximately 15km west of Gander, Newfoundland and Labrador. Keats North Highlights: Keats North comprises multiple newly discovered high-grade gold veins in a corridor covering approximately 630m of strike northwards from the northern end of Keats Main to the recently discovered 515 zone, reported on April 13, 2022 (see Figure 1). Highlight results from recent drilling in this corridor include These new results are defining an extensive network of mineralized veins including Umbra, Penumbra, Apogee, Enigma, and Perigee/515 over a roughly 630m long x 150m wide area linking Keats Main and the 515 discovery area (Figure 1). These veins start at the surface, are generally steeply dipping, and to date have been drill tested to a maximum vertical depth of 125m. |
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