New Found Gold's Trench Sampling Yields Remarkable High-Grade Gold
New Found Gold Corp. Triumphs with Trench Sampling Results
New Found Gold Corp. (“New Found” or the “Company”) (TSX-V: NFG, NYSE-A: NFGC) recently shared exciting updates from the Keats Trench at their Queensway Project. The trench channel samples yielded impressive results, with remarkable values detected, illustrating the potential for gold mineralization in the area.
Key Highlights from Keats Trench Sampling
The exploration efforts have delivered notable results including intervals of 300 g/t Au over 5.1 meters and 215 g/t Au over 5.2 meters. This testing has confirmed the continued presence of high-grade mineralization in the region.
Trench Sample Details and Implications
The current trench sampling, which includes a strip from a sizable bedrock area of 200 meters long by 70 meters wide, has underscored the excellent continuity of high-grade mineralization over substantial intervals, encouraging further exploration strategies. Significantly, these results provide essential validation of New Found’s geological models applied in this sector.
The Keats Zone and Its Importance
This region, known as the Keats Zone, is primarily characterized by high-grade gold-bearing structures, often defined by quartz veins and associated mineralization. The extensive exploration and subsequent trenching shed light on the potential for future extraction, guiding New Found's planning and strategy in this promising gold district.
Batch of Channel Samples Delivered High Grades
Table 1: Keats Trench Channel Sample Highlights
- Exploration revealed remarkable values including multiple intervals significantly exceeding 10 g/t Au.
- Works to understand the underlying structures of this mineralization continue, with an emphasis on expanding the exploration envelope.
Company's Ongoing Development Efforts
New Found is actively pursuing a 650,000-meter drill program at Queensway as part of its broader strategy. They aim to enhance understanding of mineralization patterns and identify high-grade zones that have not yet been fully explored. The integration of these sampling results into the Company's 3D geological model is anticipated to generate new insight into exploration efficiency.
Upcoming Plans: Phase II Channel Sampling
The Company is also launching Phase II of the channel sampling program at the Keats Trench. This phase will focus specifically on high-grade vein domains, optimizing sample density, and fine-tuning assay results for better clarity and reliability on mineralization characteristics.
Iceberg Trench Progress Report
At the Iceberg Zone, excavation work is underway. The current operations target the bedrock surface to reveal underlying geological features, with further sampling planned to offer additional data for analysis.
Quality Assurance and Exploration Strategy
New Found has established strict protocols for sample collection and assay procedures at ALS Laboratories to ensure the integrity and accuracy of results. Submissions are made following best practices in the industry, intended to deliver reliable data that will shape further exploration initiatives.
Company Overview and Future Prospects
New Found Gold Corp. holds a substantial interest in the Queensway Project, an area rife with opportunities given its location and pre-established infrastructure. With around $45 million in cash and marketable securities, the Company is gearing up for extensive drilling and exploration in the upcoming quarters.
Frequently Asked Questions
What grades were reported in the recent trench samples?
The trench samples included remarkable intervals of 300 g/t Au over 5.1 meters and 215 g/t Au over 5.2 meters.
Where is the Queensway Project located?
The Queensway Project is located on the Trans-Canada Highway, which is easily accessible and only 15 kilometers from Gander.
What is the Company's ongoing exploration program?
New Found is conducting a 650,000-meter drill program at the Queensway Project, focusing on assessing gold mineralization.
What measures are in place for quality control in sampling?
The company employs rigorous quality assurance practices, including the submission of standards and blanks to monitor assay accuracy.
How does this impact future mining prospects?
Results from sampling and trenching bolster the potential for future mining operations at the Queensway Project due to high-grade discoveries.
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