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New Found Gold Discovers Multiple New Gold Zones Extending 1.5km South of Keats, Increases Appleton Fault Zone High-grade Gold Corridor to Over 4km in Strike Length
VANCOUVER, British Columbia / Jan 18, 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 / Jan 18, 2023 / Business Wire / New Found Gold Corp. (“New Found” or the “Company”) (TSX-V: NFG, NYSE-A: NFGC) is pleased to announce the results from 51 diamond drill holes that were completed as part of an ongoing systematic and targeted drill program exploring the highly prospective segment of the Appleton Fault Zone (“AFZ”) from the south end of the Keats Main Zone to the Knob Zone. New Found’s 100% owned Queensway project comprises an approximately 1,650km2 area, accessible via the Trans-Canada Highway approximately 15km west of Gander, Newfoundland and Labrador. Keats Main South, TCH and Rocket Highlights: Hole Number From (m) To (m) Interval (m)1 Au (g/t) Zone NFGC-22-733 22.30 24.60 2.30 10.45 421 Including 22.80 23.30 0.50 46.80 NFGC-22-774 364.00 366.45 2.45 25.31 Keats Main S Including 365.00 366.00 1.00 60.50 And 379.80 382.00 2.20 72.66 Including 379.80 380.35 0.55 290.00 NFGC-22-845 115.00 129.90 14.90 4.59 Keats Main S/ 421 Including 120.00 121.00 1.00 26.17 Including 129.00 129.90 0.90 11.50 NFGC-22-642 303.45 305.90 2.45 10.45 TCH Including 303.80 304.35 0.55 14.46 Including 305.40 305.90 0.50 32.43 NFGC-22-703 183.00 193.70 10.70 1.02 TCH NFGC-22-863 427.10 429.10 2.00 79.62 TCH Including 427.10 427.80 0.70 226.46 NFGC-22-704 86.60 91.05 4.45 12.63 Knob (Rocket Vein) Including 88.00 88.45 0.45 118.50 Table 1: Keats Main South, TCH and Rocket Drilling Highlights 1Note that the host structures are interpreted to be steeply dipping and true widths are generally estimated to be 60% to 90% of the reported interval. Infill veining in secondary structures with multiple orientations crosscutting the primary host structures are commonly observed in drill core which could result in additional uncertainty in true width. Composite intervals reported carry a minimum weighted average of 1 g/t Au diluted over a minimum core length of 2m with a maximum of 2m consecutive dilution. Included high-grade intercepts are reported as any consecutive interval with grades greater than 10 g/t Au. Grades have not been capped in the averaging and intervals are reported as drill thickness. Systematic and targeted drilling along the highly prospective AFZ corridor has continued to delineate high-grade gold mineraliza...