New Found Gold Corp V.NFG

RE:Very Significant Assay Results Today..50 m ounces

[Dixiedee]

nozzpack wrote:

Todays NR contain  very substantial implicatins not only for increased understanding the sheer size of QWN discovery but that new discovereis continue at a sustained pace ..today alone increasing the mineralied strike from 4.1 km to 6.8 km .

This has massive implications for the contained gold which I estimated at 35 m ounces for 4.1 km of strike .

It leaves little doubt that we shall extend the mineralized strike to 9.5 km once the full suite of assays of our 500,000 m drilling program is finished .

It leaves open the real possibility that 100 m ounces real be defined at some point within the next year..and we could be still in the early exploration stage give the fault defined possibility of up to 70 km....

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• " The 421 Zone is located at the south end of Keats Main and was initially announced in April 2022. This domain of high-grade gold is controlled by the intersection of a series of south-to-southwest dipping gold-bearing structures with the AFZ and the Keats-Baseline Fault Zone (“KBFZ”), the fault that hosts Keats Main, Iceberg, and Iceberg East.

 

• Today’s highlight interval of 17.8 g/t Au over 8.30m ( bonanza ) in NFGC-23-1130was intersected 65m up-plunge of previously reported 11.5 g/t Au over 8.90m in NFGC-23-1182 (July 24, 2023), 57malong strike from previously reported 4.59 g/t over 14.90m in NFGC-22-845 (January 18, 2023) and 88m along strike from previously reported 101 g/t Au over 2.75m in NFGC-23-1089 (July 24, 2023). 
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• These intervals span a high-grade domain approximately 90m widewith vertical depths ranging from 70m-130m within a broader series of gold-bearing structures that is 160m wide that make up the 421 Zone.

 

• A further 2km to the south, at the Grouse Zone, New Found’s first pass drilling has identified significant gold mineralization located 300m east of the AFZ.
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• Grouse is a historic showing discovered by trenching and tested by limited drilling in the early 2000s.
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• Akin to the Knob Zone (located 800m north), Grouse consists of massive to stockwork-style quartz veins developed within and around a thick bed of greywacke hosted by an east-west striking fault zone.
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• Highlight intervals of 3.56 g/t Au over 4.90m in NFGC-22-1005, 1.34 g/t Au over 9.70m in NFGC-22-1047 and 2.32 g/t Au over 5.55m in NFGC-22-1053, along with the presence of visible gold (Figure 1) and additional significant intervals reported in this press release, span an area 100m along strike, starting near surface and reaching a depth of 80m.
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• The Grouse Zone is now the southernmost gold zone drilled at Queensway North. 
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• Measuring from Grouse north to the Everest Zone spans an impressive 6.1km of strike where high-grade gold mineralization has been identified through near-surface drilling, indicating that the gold mineralization footprint of the AFZ continues a full 2.7km south of Keats (Figures 1-4).
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We have now extended the mineralized strike from 4.1 km to 6.8 km ....65 % increase means millions of more ounces than previously calculated based on 4.1 kn strike 

 

Melissa Render, VP of Exploration of New Found, stated: “Not only has this additional drilling greatly improved our understanding of the 421 Zone, and more specifically, the controls on the high-grade gold mineralization, it has also added to the list of high-grade results emanating from the highly prospective AFZ corridor. 
The 421 Zone is an important structure and continued exploration will aim to follow this fault eastward looking for additional interactions with gold-bearing fault zones. 

At the same time, we are also pleased to announce initial results from the first-ever drilling at the historic Grouse Zone, located a full 2.7km south of Keats.

More NEW Discoveries on the Way

This small first-pass program has identified significant mineralization over 100m of strike starting at surface and is paired with multiple occurrences of visible gold. 

These results give us confidence that the AFZ gold mineralizing system extends well south of Keats.

Only 30,000m of drilling has been conducted by New Found south of the highway, and this is an obvious area that we will be targeting for future exploration.”

 

 

 

Did someone say gold district type discovery with multiple mines going on for generations .I believe Eric interpreted it this way in one of his speeches I tend to agree with him and the data is starting to prove this out .what a great bargain at these prices no wonder Eric keeps buying follow the smart money it will lead you to newfound gold great to be a shareholder in this generational discovery of a lifetime