New NFG discovery just south of LAB's new GG zone New Found Reports 1,131 g/t Au and 568 g/t Au Rock Samples at New 'Big Dave' Showing 2km North of Lotto
PR Newswire
VANCOUVER, BC, Sept. 23, 2021
VANCOUVER, BC, Sept. 23, 2021 /PRNewswire/ - New Found Gold Corp. ("New Found" or the "Company") (TSXV: NFG) (OTC: NFGFF) is pleased to announce recent assay results from field sampling along the Appleton Fault Zone. High-grade gold surface grab samples have been found in a new area 2km north of the Lotto Zone at the Company's 100% owned Queensway Project ("Queensway"), located on the Trans-Canada Highway 15km west of Gander, Newfoundland.
Highlights
- Highlight sample assay results are summarized below.
| * Note that grab samples are not intended to be representative of gold mineralization at Big Dave |
- A potential new zone of high-grade gold mineralization has been discovered along the Appleton Fault yielding assay results up to 1,131 g/t Au and is being called Big Dave. This showing is located 2km north of the Lotto Zone and 4km north of the Keats Zone, representing the northernmost showing of high-grade gold to date at the Queensway.
- Sampling at Big Dave represents the first recorded surface rock samples from this under explored section of the Appleton Fault. This area of the Appleton Fault demonstrates limited outcrop and the two high-grade grab samples collected were of highly angular quartz float containing visible gold. The samples were located in close proximity to one another indicating the high potential for further discoveries along the Appleton Fault.
- Big Dave shares a similar stratigraphic location to the Keats and Lotto zones along the east side of the Appleton Fault.
- The highly angular nature of the float samples and geographical location indicate a bedrock source that reaches surface and may be close to the sample site.
- The nearest drill hole to this new zone is located over 2km to the south at the Lotto Zone and these results indicate the potential for further high-grade gold mineralization along the underexplored Appleton Fault.
- Big Dave is easily accessed through gravel logging roads located within 700m of the sample site.
- The two samples of quartz contained disseminated fine-grained visible gold, boulangerite, chalcopyrite and arsenopyrite typical of the high-grade veins discovered at the Keats, Lotto, Golden Joint and other showings along the Appleton Fault.
- Extensive geophysical coverage of the area has allowed the Company to vector and plan drill targets to be completed in Q4 2021.
Greg Matheson, COO of New Found, stated: "Over 20 years ago a single high-grade float sample was located along the Appleton Fault yielding 1,869 g/t Au; this sample led to the eventual discovery of the nearby Keats Zone. The continued drill expansion of the high-grade Keats Zone demonstrates our ability to find the source of such high-grade samples. Continuing to discover new areas with high-grade gold is exciting and speaks volumes to the potential to transform the Queensway into a multi-discovery district."
Photos of Rock Samples