Announcement Date: 2022-09-27
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. 10.5m at 10.36g/t Au from 100.5m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Vancouver, BC, September 27, 2022 – New Found Gold Corp. (“New Found” or the “Company”) (TSX-V: NFG, NYSE-A: NFGC) is pleased to announce the results from six diamond drill holes that were completed as part of a program designed to test the west side of the highly prospective Appleton Fault Zone (“AFZ”) adjacent to the Keats Zone. New Found’s 100%-owned Queensway project comprises a 1500km2 area, accessible via the Trans-Canada Highway, 15km west of Gander, Newfoundland and Labrador. A new, near-surface high-grade gold discovery called “Keats West” has been made west of the AFZ, with intercepts including 17.87 g/t Au over 4.20m in NFGC-22-681 and 10.36 g/t Au over 10.50m in NFGC-22-686, (see Figures 1 and 3). These two intercepts are located approximately 50m apart along strike within an extensive brittle fault zone that has now been intersected over a strike length of approximately 120m and to a vertical depth of approximately 100m by four holes released today. Based on current modelling, this new structure strikes to the northwest, dips moderately to the southwest, and is open in all directions.
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