VANCOUVER, BC, March 29, 2021 /CNW/ - New Found Gold Corp. ("New Found" or the "Company") (TSXV: NFG) (OTC: NFGFF) is pleased to announce assay results from an additional six holes drilled at the Keats Zone ("Keats"). 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 15 km west of Gander, Newfoundland.
VIEW PDF (CNW Group/New Found Gold Corp.)
Highlights
| Hole No. | From (m) | To (m) | Interval (m)* | Au (g/t) |
| NFGC-21-78 | 113.20 | 115.50 | 2.30 | 18.22 |
| NFGC-21-86 | 141.95 | 150.00 | 8.05 | 5.6 |
| NFGC-21-87 | 4.70 | 9.35 | 4.65 | 27.8 |
| And | 20.45 | 30.70 | 10.25 | 2.5 |
| NFGC-21-97 | 174.95 | 181.40 | 6.45 | 37.1 |
| NFGC-21-101 | 180.85 | 189.30 | 8.45 | 17.9 |
| *Note that the host structures are interpreted to be steeply dipping and true widths are estimated to be 70% to 80% of reported intervals. Intervals are calculated at a 1 g/t Au cut-off grade; grades have not been capped in the averaging. |
-
The intervals of 37.2 g/t Au over 6.45m and 17.9 g/t Au over 8.45m in drill holes NFGC-21-97 and NFGC 21-101 provide further confirmation of the continuity of the Keats high grade zone in the down-plunge direction (Figure 1).
-
Drill hole NFGC-21-87 returned 27.8 g/t Au over 4.65 m starting at 4.7m down-hole depth plus 2.51 g/t Au over 10.3 m starting at 20.5m down-hole depth, providing further confirmation of high-grade gold at bedrock surface at the north end of Keats.
Greg Matheson, P.Geo., COO of New Found, stated: "These results are significant in that they provide confirmation of the continuity of high-grade gold mineralization between our deeper results down plunge including the recently released 61.8 g/t Au over 13.65m in NFGC-21-118 and the more closely spaced drilled near-surface, high-grade results up-plunge (see Figure 1). Additional results in this area roughly centered around fence line 4700N are anticipated shortly. Current drilling at Keats is focused on extending the high-grade zone down plunge, providing further definition of the near surface, high-grade mineralization, and testing additional zones of high-grade mineralization including in the footwall veining."