RE:RE:Canada’s Top Ten Precious Metals Juniors Agreed ...look further down on the list and see Marathon also in there. IKE
New Found Gold
Market cap: C$1.9 billion ($1.6 billion)
A site visit to the Queensway project in January 2020. From left: Quinton Hennigh, director; Denis Laviolette, co-founder and president; Greg Matheson, COO. Sixth person from left is co-founder and executive chiaman, Collin Kettell. Craig Roberts, CEO, is second from the right. Credit: New Found Gold. New Found Gold (TSXV: NFG; US-OTC: NFGFF) is new to the Top Ten list this year. The junior is advancing its 100%-owned Queensway gold project, 15 km west of Gander, Newfoundland. The 1,500 sq. km project is near the Trans-Canada Highway and New Found Gold has ten drills turning there in a 200,000-metre drill campaign focused on a 7.8 km corridor along the Appleton fault and a 12.4 km corridor along the JBP fault.
The project is divided by Gander Lake into Queensway North and Queensway South. Queensway North, the more advanced of the two, has high-grade gold targets along the Appleton and JBP faults, including the Keats zone, which the company discovered in November 2019 when its drillers intersected 19 metres grading 92.9 grams gold per tonne at a depth of 75 metres.
The company identified a second gold zone at Queensway North in October 2020 called Lotto, about 2 km north of Keats. The Lotto discovery hole intersected 4.75 metres of 41.2 grams gold from 35.3 metres downhole, including 5.15 metres of 25.4 grams gold. Last month the company drilled about 60 metres below the Lotto discovery hole and intersected 224.7 grams gold over 2.45 metres starting 118 metres downhole.
Drill results released in mid-March from Keats included 13.7 metres grading 61.8 grams gold from 211.15 metres downhole, including a one-metre intercept of 565 grams gold.
Queensway lies along what’s called the Dog Bay Line (DBL), a continental scale zone resulting from the ancient collision of the European and North American tectonic plates, which the company says created the “plumbing” that enabled gold-rich magmatic fluids to travel from deep in the earth’s crust to surface and deposit high-grade gold in multiple directions along tens of kilometres of strike on these fault structures.