Business
New Found Gold Commences Industry-leading 3D Seismic Survey at Queenwsay Gold Project
VANCOUVER, British Columbia / Mar 07, 2023 / Business Wire / New Found Gold Corp. (“New Found” or the “Company”) (TSX-V: NFG, NYSE-A: NFGC) is pleased to announ
About this update from New Found Gold Corp
[{"type":"text","content":"VANCOUVER, British Columbia / Mar 07, 2023 / Business Wire / New Found Gold Corp. (“New Found” or the “Company”) (TSX-V: NFG, NYSE-A: NFGC) is pleased to announce the commencement of an industry-leading 3D seismic survey that will cover 47 km2 along the Appleton (“AFZ”) and JBP Fault Zones (“JBPFZ”) at its Queensway Project. New Found’s 100%-owned Queensway project comprises a 1,662km2 area, accessible via the Trans-Canada Highway, 15km west of Gander, Newfoundland and Labrador. Highlights: The 3D seismic program commenced on March 5, 2023, and is being conducted by HiSeis, an Australian based leader in 3D seismic technology, responsible for conducting similar surveys at numerous projects globally for the mining sector, including at Agnico Eagle’s Fosterville Mine. HiSeis has worked in conjunction with New Found’s technical team to design the parameters of the seismic program for the rock types and mineralization style found at Queensway to maximize resolution. The survey is planned to cover an area 5.8km wide and spanning 8km of strike length along the AFZ and JBPFZ, encompassing known significant mineralized zones such as Keats, Keats West, Iceberg, Golden Joint and Lotto, as well as large areas that remain undrilled. This technology provides high resolution penetration up to 3km below surface, with coarser resolution to 8km depth, (see Figures 1-2). Drilling completed by the Company to date has primarily focused shallowly on the first 200m from surface and within a 200m window on either side of the AFZ. By collecting seismic data across the known zones, the Company will be able to effectively train a 3D dataset, with the goal of identifying similar looking, prospective zones both outside of this narrow window and at depth. Seismic geophysical surveys are often utilized in oil and gas exploration. Due to the unique nature of the sedimentary rock units and structurally controlled gold mineralization at Queensway, the project has been identified as an ideal candidate for 3D seismic technology, which is capable of delineating the lithological and structural architecture over a broad area and to great depths. Acquisition of seismic data not only benefits the understanding of the geological framework and exploration targeting but is useful in examining the geotechnical aspects of the project with greater certainty, aiding in planni...