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New Found Announces Doubling of Drill Program to 400,000m and Increase to 14 Drill Rigs
New Found Announces Doubling of Drill Program to 400,000m and Increase to 14 Drill Rigs ...
About this update from New Found Gold Corp
[{"type":"text","content":"\n \n \n \n New Found Announces Doubling of Drill Program to 400,000m and Increase to 14 Drill Rigs\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nBORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; VERTICAL-ALIGN: TOP; BORDER-BOTTOM:black 0pt; TEXT-ALIGN: LEFT; PADDING-LEFT:0.50em; BORDER-LEFT:black 0pt; PADDING-RIGHT:0.50em\n}\n.prnbcc{\nBORDER-TOP-COLOR:; BORDER-COLLAPSE: COLLAPSE; BORDER-LEFT-COLOR:; BORDER-BOTTOM-COLOR:; BORDER-RIGHT-COLOR:\n}\n \n \n \n \n \n \n PR Newswire\n \n \n \n \n \n VANCOUVER, BC\n \n ,\n \n Oct. 25, 2021\n \n /PRNewswire/ -\n \n New Found Gold Corp.\n \n (\"\n \n New Found\n \n \" or the \"\n \n Company\n \n \") (TSXV: NFG) (NYSE American: NFGC) is pleased to announce an expansion of the exploration program at its 100% owned Queensway Project (\"\n \n Queensway\n \n \"), located on the Trans-Canada Highway 15km west of\n \n Gander, Newfoundland\n \n . To date the Company has completed approximately 51% (~102,000m) of its current\n \n 200,000m\n \n diamond drill program at Queensway. Approximately 24,000 meters of drill core is pending assay results.\n \n \n \n \n \n \n \n \n \n \n Highlights\n \n \n \n \n Nine core rigs are currently operating, with a tenth scheduled to commence in the first week of November. New Found is targeting an increase in the drill count to 14 rigs with the addition of two core rigs by the end of 2021, followed by two additional rigs in Q1 2022. The ramp up from 9 to 14 drills represents a 55% increase in the drill count with a corresponding increase in the rate of core production from approximately\n \n 3,000m\n \n per week to approximately\n \n 4,700m\n \n per week.\n \n \n New Found plans to increase the current program at the Queensway project to a total of\n \n 400,000m\n \n , including the approximately\n \n 102,000m\n \n completed to date. Permit applications for this expansion have now been submitted.  This expanded drill program is fully funded out of the Company's current working capital balance of approximately\n \n $103 million\n \n , which is anticipated to increase to approximately\...