New Found Gold Reports High-Grade Gold Intervals from Sampling
Recent Gold Channel Sampling Results
New Found Gold Corp. (TSXV: NFG) is excited to share promising results from its icebergs excavation channel sampling program. This effort is part of the ongoing exploration at the company's Queensway Gold Project and highlights the substantial gold mineralization found within the Iceberg zone.
Key Highlights from the Sampling Program
The channel sampling program revealed impressive results across multiple sampling lines. Notable highlights include:
- 64.8 g/t Au over 6.71 m (Sample ID: IB-25-01-10)
- 23.9 g/t Au over 15.12 m (Sample ID: IB-25-01-16)
- 113 g/t Au over 2.99 m (Sample ID: IB-25-01-18)
- 47.4 g/t Au over 7.36 m (Sample ID: IB-25-01-40)
- 23.0 g/t Au over 13.74 m (Sample ID: IB-25-01-08)
- 117 g/t Au over 2.16 m (Sample ID: IB-25-01-07)
Continuity of High-Grade Mineralization
Melissa Render, the Company’s President, emphasized that the channel sampling demonstrates the continuity of high-grade gold mineralization across significant sections of the Iceberg zone. This zone has become a central focus of the company's Phase I study for custom milling within its Preliminary Economic Assessment (PEA).
Excavation and Analysis Details
New Found Gold excavated an area of 220 m by 105 m at Iceberg, resulting in a continuous exposure of 185 m under 2.5 to 9 m of overburden. This systematic sampling effort involved rigorously analyzed 964 m of channel samples collected in 45 channels at 7.5 m intervals. Each of these samples provides critical data for evaluating gold grade variability across this significant excavation.
What’s Next for New Found Gold?
The company plans to follow up on this work with detailed drilling for grade control, which will enhance public confidence in its geological and resource models. This data is expected to be crucial as New Found Gold progresses towards completing its Phase I mine plan as outlined in the recent PEA.
Future Plans and Exploration Targets
New Found Gold is undertaking a comprehensive drilling program of 70,000 m that targets the AFZ Core area associated with the Queensway Project. The strategy includes an explorative approach with a focus on other key zones, including the Lotto excavation where key findings are yet to be disclosed. The excavation and mapping processes of other zones continue to yield new insights, promising further advancements in the company's exploration strategy.
About New Found Gold
New Found Gold is poised for growth in the thriving Canadian gold exploration sector. The company boasts a 100% interest in the Queensway Project, a significant site with robust geological potential. The project spans over 234,050 hectares, presenting a large-scale opportunity in the gold market. The recent developments underscore the company's commitment to advancing its exploration efforts and maximizing shareholder value.
Contact Information
For more information, contact Keith Boyle, Chief Executive Officer, or reach out to Fiona Childe, Vice President of Communications via email at contact@newfoundgold.ca.
Frequently Asked Questions
What are the key highlights from New Found Gold's sampling program?
The sampling program revealed several high-grade intervals, including 64.8 g/t Au over 6.71 m and 113 g/t Au over 2.99 m, showcasing the gold potential at Iceberg.
How does this sampling program affect the Queensway Gold Project?
The results reinforce the continuity of gold mineralization in the Iceberg zone, which is central to the ongoing Phase I custom milling study.
What are the company’s future plans for exploration?
New Found Gold has initiated a significant 70,000 m drilling campaign intended to further explore the geological potential of the AFZ Core area and others.
Who can I contact for more information on New Found Gold?
You can reach out to Keith Boyle, CEO or Fiona Childe, Vice President, through email for further inquiries.
How has New Found Gold positioned itself in the market?
New Found Gold is strategically focused on growth in the gold exploration sector with robust projects and a strong management team.
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