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New Found Gold Completes Keats Trench Excavation and Phase 1 Mapping Program, Exposes High-Grade East-West Vein
VANCOUVER, British Columbia / Nov 17, 2023 / Business Wire / New Found Gold Corp. (“New Found” or the “Company”) (TSX-V: NFG, NYSE-A: NFGC) is pleased to provid
About this update from New Found Gold Corp
[{"type":"text","content":"VANCOUVER, British Columbia / Nov 17, 2023 / Business Wire / New Found Gold Corp. (“New Found” or the “Company”) (TSX-V: NFG, NYSE-A: NFGC) is pleased to provide an update on surface trenching at the Keats Zone 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. Trench Highlights: Excavation of the Keats trench began in mid-August and is now complete, exposing a 200m long by 70m wide area roughly corresponding to the known surface expression of the high-grade segment of the Keats-Baseline Fault Zone, which includes a plethora of veins and vein sets that make up the Keats Zone (Figure 1). One particularly notable vein called the East-West Vein (“E-W Vein”) has been uncovered over a 100m long surface expression including a 25m segment that is host to a significant amount of visible gold as shown in Figures 1 & 2. Through drilling, the E-W Vein has been intercepted over a strike length of 300m and down to a vertical depth of 150m, forming an important constituent of the Keats-Baseline Fault Zone. This particularly well-mineralized vein is associated with several key previously disclosed intercepts, shown below in Table 1. Prior to the Keats trench, the Keats Zone had only been observed through drill core and modelled in 3D, forming the basis of the Company’s geological model. A high-level first pass mapping program has been completed, broadly confirming the original interpretation but with added structural details not previously recognized in drill-core. This initial phase of work has enhanced the Company’s understanding of the Keats Zone and the controls on high-grade mineralization as seen in the E-W Vein as one example. A phase II program of detailed trench mapping and sampling will commence in the spring of 2024, which will lend further validation to the geological model, as well as provide critical insights into the genesis of the Keats Zone and assist in future targeting along the Appleton Fault Zone. The Keats Zone starts 3m below surface at bedrock and has been drill-defined over 1.1km of strike and to a depth of 400m. The shallow portion of Keats demonstrates robust grades over significant thicknesses, a hallmark characteristic of the zone. Greg Matheson, COO of New Found, stated: “Now that...