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New Found Gold Announces Preliminary Economic Assessment and Updated Mineral Resource Estimate for the Hammerdown Gold Project
Hub and Spoke Mine Plan in Central Newfoundland: Three deposits, Hammerdown, Orion and Stog'er T...
About this update from New Found Gold Corp
[{"type":"text","content":"New Found Gold Announces Preliminary Economic Assessment and Updated Mineral Resource Estimate for the Hammerdown Gold ProjectHub and Spoke Mine Plan in Central Newfoundland: Three deposits, Hammerdown, Orion and Stog'er Tight, centered around the Company's Pine Cove Mill Robust Economics: After-tax NPV5%[1] of $199.2 M[2] using a base case scenario (variable price deck: long-term price of US$3,475/oz averaging US$3,656/oz Au[3])After-tax NPV5% of $415.1 M using an upside scenario (US$5,000/oz Au)Solid Production over an Extended Mine Life: 251,287 oz Au produced over a 13-year LOM[4]Average LOM total cash costs[5] and AISC[6] of US$2,149/oz Au and US$2,429/oz AuTotal after-tax free cash flow[7] of $243.3 MAdditional Value Potential from Exploration Upside:Deposits open laterally and to depth; additional target areas being evaluated Exploration planned to commence H2/26All amounts in Canadian dollars unless stated otherwiseToronto, Ontario--(Newsfile Corp. - February 26, 2026) - New Found Gold Corp. (TSXV: NFG) (NYSE American: NFGC) (\"New Found Gold\" or the \"Company\") is pleased to announce the results of a positive Preliminary Economic Assessment (\"PEA\") and updated mineral resource estimate (\"MRE\") for the Company's 100% owned Hammerdown Gold Project (\"Hammerdown\" or the \"Project\"), which includes the Hammerdown deposit, Orion deposit and Stog'er Tight deposit (collectively, the \"Deposits\") and the Pine Cove Mill (\"Pine Cove\" or the \"Mill\"), located in Newfoundland and Labrador, Canada. The Deposits are evaluated with a Hub and Spokes model centred around Pine Cove, with the Hammerdown deposit currently being ramped up to commercial production.\"Today's updated mineral resource and life of mine plan for Hammerdown demonstrates cashflow generation from operations which will offset overhead and exploration costs as we continue to fast-track our flagship Queensway Gold Project towards production in H2/27, taking full advantage of the tremendous synergies through our strategic purchase of Pine Cove and the Nugget Pond gold circuit. This purchase accelerates the development of Queensway by two to three years, coinciding with this exciting gold market,\" commented Keith Boyle, Chief Executive Officer. \"Our team has a demonstrated track record of exploration success in the discovery of orogenic gold deposits in cen...