New Found Gold Boosts Queensway Project with Expanded Drilling
New Found Gold Expands Work Initiatives at Queensway
New Found Gold Corp. (TSX-V: NFG) has announced an exciting expansion of its work program at the Queensway Gold Project. This expansion comes with the intention to develop and evaluate the potential of this promising site. The company is eager to push ahead, conducting a diamond drill program that will span a remarkable 70,000 metres.
Key Features of the 2025 Work Program
The 2025 program features many prominent facets designed to further investigate and develop the current findings. Approximately 11,750 metres have already been drilled across 104 diamond drill holes, with five rigs actively on-site contributing to an extensive drilling campaign positioned primarily for resource definition. Of the planned drilling, 80% centers on refining existing resources and preparing for development, while the remaining 20% is dedicated to exploration efforts.
Progress of Drilling Activities
Management has confirmed that drilling is presently focused on crucial areas including resource infill initiatives within the AFZ Core, which is essential for creating a solid foundation for future mineral resource estimates. This initial phase of work has already kicked off and is set to progress well into the latter part of the year, targeting high-priority areas for the most efficient results.
Exploratory Drilling and Findings
While resource development remains a priority, the exploratory drilling, particularly at the Dropkick zone, is generating significant excitement. This recently identified target lies 11 kilometres north of the AFZ Core and is showing promising indicators of high-grade mineralization. Noteworthy results from previous drilling efforts have highlighted exceptional gold grades, reinforcing the potential for new discoveries that could enhance the project’s viability.
AFZ Core Excavation Initiatives
The AFZ Core excavation program is underway, demonstrating the company’s commitment to revealing the geological characteristics of their prospects. Significant excavation efforts have already yielded valuable information related to gold-bearing veins, enhancing the geological model's accuracy and showcasing the high-grade veins' structures. This ongoing work is pivotal for establishing a clear understanding of the area's mineral potential, which aligns with the company's strategic development goals.
Regional Exploration Efforts
Complementing its drilling initiatives, New Found Gold is undertaking a comprehensive regional exploration program across both the Queensway South and Queensway North areas. This multifaceted initiative involves soil and rock sampling, trenching, and conducting a detailed magnetic survey of the terrain. By concentrating exploration efforts on these strategic extensions, the company aims to systematically uncover other potential opportunities for future development.
Engineering and Environmental Studies
In addition to drilling, ongoing engineering studies are focusing on metallurgical testing to optimize processes while ensuring that the environmental aspects of exploration align with industry standards. By emphasizing environmental stewardship, New Found Gold is laying the groundwork for responsible development in this promising region. The upcoming environmental studies are designed to support necessary permitting processes, reflecting the company’s long-term investment in sustainable resource extraction.
Company Vision and Future Directions
New Found Gold is led by a dynamic management team that is focused on growth, valuing the immense potential within the Queensway Project as well as surrounding areas. They're committed to fostering relationships with local communities and stakeholders while prioritizing strategic advancements in exploration and research. This pathway not only aims for immediate discoveries but also looks to build strong foundations for future developments.
Frequently Asked Questions
What is the primary focus of New Found Gold in its latest program?
The primary focus is on advancing the Queensway Gold Project through extensive drilling and exploration, aiming to define resources and prepare the project for development.
How much drilling is planned for 2025?
New Found Gold plans approximately 70,000 metres of diamond drilling across the project, with a significant portion allocated for resource definition.
What does the Dropkick zone signify for the project?
The Dropkick zone represents a new high-grade gold target that has shown promising drilling results, suggesting considerable potential for resource expansion.
Are environmental studies being conducted as part of this project?
Yes, environmental studies will be implemented in 2025 to support permitting processes and ensure the project aligns with sustainable practices.
How does New Found Gold plan to engage with local communities?
The management team aims to foster positive relationships with local communities and stakeholders as they proceed with exploration and development efforts in the area.
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