New Found drills 8.05 m of 21.4 g/t Au at Queensway news was good
Take care, Year of the Profit, Oilseeker
New Found drills 8.05 m of 21.4 g/t Au at Queensway
2021-06-15 06:22 ET - News Release
Mr. Craig Roberts reports
NEW FOUND INTERCEPTS 21.4 G/T AU OVER 8.05M AND 14.9 G/T AU OVER 12.9M IN 40M STEP-OUT AT KEATS, EXTENDS HIGH-GRADE ZONE TO 465M DOWN-PLUNGE
New Found Gold Corp. has released assay results from an additional nine holes drilled at the Keats zone. These holes were drilled as part of the Company's ongoing 200,000m diamond drill program at its 100%-owned Queensway Project ("Queensway"), located on the Trans-Canada Highway 15km west of Gander, Newfoundland.
Highlights Highlights include: Hole No. From To Interval* Au (m) (m) (m) (g/t) NFGC-21-94B 169.75 173.55 3.80 11.69 NFGC-21-141 238.00 245.00 7.00 11.17 NFGC-21-165 296.45 298.50 2.05 20.74 NFGC-21-204 244.45 252.50 8.05 21.36 And 283.15 296.00 12.85 14.92 Highlights
*Note that the host structures are interpreted to be steeply dipping and true widths are generally estimated to be 60% to 80% of reported intervals. Infill veining in secondary structures with multiple orientations crosscutting the primary host structures are commonly observed in drill core which could result in additional variability in true width. Intervals are calculated at a 1 g/t Au cut-off grade; grades have not been capped in the averaging. This table shows highlight intervals, a number of these holes returned additional intervals of gold mineralization as reported in Table 2 below.
- The intervals of 21.4 g/t Au over 8.05m and 14.9 g/t Au over 12.9m in NFGC-21-204 is a 40m down-plunge step-out to the south from the previously furthest south high-grade intercept (hole NFGC-21-182, 146.2 g/t Au over 25.6m, see New Found news release dated May 21, 2021) and is the deepest assay interval returned to date at Keats (see Figure 1).
- The high-grade zone at Keats has now been drill defined over 465m in the down-plunge direction. The zone remains open and step-out drilling is continuing to the south, vertically above and below this zone, and to the north.
Greg Matheson COO of New Found, stated: "The two intervals in NFGC-21-204 of 21.4 g/t Au over 8.05m and 14.9 g/t Au over 12.9m in a further 40m step-out down plunge demonstrates that the zone of high-grade gold at Keats is continuing and remains open to depth. The intervals in holes NFGC-21-94B, 141 and 165 provide further evidence of the continuity of the high-grade gold mineralization at Keats. The style of mineralization and spatial distribution of the high-grade gold continues to demonstrate features consistent with the emplacement of high-grade gold in an epizonal event. We now have four drills running at Keats continuing step-out drilling to the south as well as infilling the high-grade zone defined to date."
*With reference to Figures 1 and 2 and the accompanying highlight table above, note that the host structures are interpreted to be steeply dipping and true widths are generally estimated to be 60% to 80% of reported intervals. Infill veining in secondary structures with multiple orientations crosscutting the primary host structures are commonly observed in drill core which could result in additional variability in true width. Intervals are calculated at a 1 g/t Au cut-off grade; grades have not been capped in the averaging.
Drillhole Details Hole No. From To Interval* Au (m) (m) (m) (g/t) NFGC-21-91 143.00 145.50 2.50 1.30 NFGC-21-94B 169.75 173.55 3.80 11.69 Within 166.45 176.35 9.90 6.18 NFGC-21-95 19.15 21.70 2.55 1.50 And 48.20 53.20 5.00 2.36 NFGC-21-125 82.60 84.90 2.30 4.92 NFGC-21-127 37.00 39.00 2.00 6.11 Within 37.00 51.00 14.00 1.47 NFGC-21-135 209.45 223.90 14.45 2.77 And 295.10 298.15 3.05 1.40 NFGC-21-141 219.60 232.30 12.70 1.87 And 238.00 245.00 7.00 11.17 And 248.55 251.25 2.70 2.01 And 301.55 304.25 2.70 1.61 NFGC-21-165 266.70 268.80 2.10 1.09 And 296.45 298.50 2.05 20.74 NFGC-21-204 244.45 252.50 8.05 21.36 And 283.15 296.00 12.85 14.92