I'm very pleased with all the quartz vaining in this syatem . This could get big very fast .
  4 to 6 quartz vain in each hole .

 

New Found drills 13.8 m of 28.4 g/t Au at Queensway

 

2021-02-11 08:14 ET - News Release

 

Mr. Craig Roberts reports

NEW FOUND INTERCEPTS 28.4 G/T AU OVER 13.8M AND 25.0 G/T AU OVER 10.3M AT KEATS, PROVIDES EXPLORATION OVERVIEW

New Found Gold Corp. has provided recently received assay results from drilling at the Keats zone, part of the company's continuing 200,000-metre diamond drill program at its 100-per-cent-owned Queensway project, located on the Trans-Canada Highway 15 kilometres west of Gander, Nfld.

Highlights

Highlights from these results are summarized in the attached table.

 

  KEATS ZONE SUMMARY RESULTS Hole No. From (m) To (m) Interval (m)* Au (g/t) NFGC-20-37 9.0 19.3 10.3 25.0 NFGC-20-38 105.8 111.6 5.8 19.8 NFGC-20-40A 107.4 114.7 7.3 19.3 NFGC-20-45 46.6 60.4 13.8 28.4 and 68.0 71.3 3.3 20.6 and 83.3 85.3 2.0 17.1 NFGC-20-46 112.7 115.6 2.9 13.7 NFGC-20-56 25.6 57.9 32.3 6.18 Including 25.6 31.0 5.4 15.7 Note that the exact orientation of the veins is uncertain but believed to be steeply dipping thus implying true widths of the high-grade zone to be in the 70-per-cent to 80-per-cent range of reported drill lengths.

 

At Keats while mineralization remains open in all directions, the company has observed a clear trend in the highest grade material forming a zone with a shallow plunge to the south along the Keats baseline fault.

High-grade assay intervals received to date at Keats have correlated directly with the observation of significant visible gold in drill core. The company is utilizing the observation of visible gold in drill core as the primary method to guide step-out drilling at Queensway.

Assay results received from drilling to date have outlined an approximate 115 m strike length of a thick, high-grade zone of gold mineralization at Keats. Logging and interpretation of drill core in step out holes to the north and south of this 115 m interval have expanded the potential continuation of this zone to at least 260 m of strike. This target zone remains open in both directions along strike and to depth.

To the north the high-grade zone daylights at rock surface (under approximately 10 m of glacial till), where broad intervals of near-surface high-grade gold have previously been reported. Hole NFGC-20-41 for example was drilled in this area and returned two near-surface intervals: 22.5 g/t Au over 10.4 m and 31.4 g/t Au over 15.9 m, with the first interval starting at 11.7 m down hole (see the company's Jan. 11, 2021, news release).

Denis Laviolette, president of New Found, stated: "Drilling to date at Keats is delineating a high-grade, near-surface zone with significant extent and size potential. We are continuing to step out on it to the north, to the south and to depth. At the Lotto zone two km north of Keats, stepouts from hole NFGC-20-17 (41.2 g/t Au over 4.75 m and 25.4 g/t Au over 5.15 m, see the company's Oct. 2, 2020, news release) appear to be delineating a new zone of near-surface, high-grade gold. The company believes that historical exploration at the Knob prospect located two km south of Keats which includes a historical resource outlined by Noranda has significant room for expansion and drilling is scheduled to start on this target shortly. Additional drills are being mobilized to the site to double the rig count from four to eight with the increase focused on exploring some of the more than 15 high-grade gold zones along the Appleton and JBP faults and the many kilometres of strike along these fault zones that have not been drill tested to date. Numerous high-grade boulders and float samples located along the parallel JBP fault, five km to the east, have yet to be sourced and recent geophysical interpretations are pointing toward a number of targets along a 12-kilometre section of this fault that warrant drilling."

 

  DRILL HOLE INTERVAL DETAILS Hole No. From (m) To (m) Interval (m)* Au (g/t) Zone NFGC-20-37 9.0 19.3 10.3 25.0 Keats Main And 22.7 28.6 5.9 5.18 And 32.8 40.7 7.9 2.82 And 43.8 45.8 2.0 13.2 And 151.6 153.6 2.0 1.21 Keats FW NFGC-20-38 90.0 94.8 4.8 0.97 Keats Main And 101.5 103.8 2.3 1.13 And 105.8 133.2 27.4 5.64 Including 105.8 111.6 5.8 19.8 And 159.4 161.7 2.4 1.33 Keats FW NFGC-20-40A 93.4 95.7 2.3 1.91 Keats Main And 107.4 114.7 7.3 19.3 And 120.5 123.4 2.9 1.73 And 129.9 132.2 2.3 5.03 And 144.5 146.8 2.3 3.75 And 171.9 174.0 2.1 1.09 Keats FW NFGC-20-45 22.5 25.0 2.5 2.1 Keats HW And 46.6 60.4 13.8 28.4 Keats Main And 68.0 71.3 3.3 20.6 And 83.3 85.3 2.0 17.1 NFGC-20-46 92.8 95.0 2.2 7.32 Keats Main And 112.7 115.6 2.9 13.7 Including 114.0 144.5 0.5 59.8 And 133.5 135.5 2.0 5.23 NFGC-20-49 NSV NFGC-20-53 20.6 23.4 2.8 1.07 Keats Main And 32.6 35.0 2.4 2.20 And 53.4 55.9 2.5 2.59 And 58.6 62.0 3.4 3.24 And 70.0 74.3 4.3 1.83 And 75.8 78.1 2.3 3.64 And 90.0 92.4 2.4 4.72 NFGC-20-54 69.5 80.5 11.0 1.98 Keats Main Including 69.5 70.5 1.0 6.68 And 85.4 94.1 8.7 2.02 Including 85.4 85.9 0.5 18.9 NFGC-20-56 25.6 57.9 32.3 6.18 Keats Main Including 25.6 31.0 5.4 15.7 And 62.3 68.7 6.4 3.52 Including 66.0 68.3 2.3 6.69