Gold discoveries continue to be made by New Found Gold (TSXV: NFG). The company this morning revealed that it has managed to connect mineralization between two separate gold zones via continued drilling at its flagship Queensway project.
The results from a total of 17 drill holes were released this morning, with drilling conducted north of the Keats Zone. Drilling outlined a total of 630 metres of strike from the northern end of the Keats Zone through to the 515 zone, which was outlined this past April.
Highlights from the results include:
- NFGC-22-559: 24.7 g/t gold over 1.00 metre
- NFGC-22-578: 45.9 g/t gold over 2.75 metres
- NFGC-22-580: 24.1 g/t gold over 2.20 metres
- NFGC-22-586:40.6 g/t gold over 2.00 metres
Several mineralized veins are said to be found in this region between the 515 and Keats Main zones, with the new discovery being referred to as Keats North. Veins are said to begin at surface before dipping steeply, with drilling thus far tested to a depth of 125 metres. The zone itself has identified a strike length of 630 metres, and a width of 150 metres.
“Our drilling is demonstrating that the corridor surrounding the Appleton Fault Zone is prolifically mineralized via a series of interconnected structures and vein sets that form a webbing shown to occur within a few hundred-meter-wide damage zone on either side of the of the primary, crustal-scale fault,” commented VP of Exploration Melissa Render.
The drill program as a whole is being conducted via a total of 14 drills currently, with 56% of the 400,000 metre program said to be completed thus far.
New Found Gold last traded at $5.52 on the TSX Venture.