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New Found Gold Hits 14 g/t Au Over 9m, 32 g/t Au Over 2.55m & 6.7 g/t Au Over 10.1m Near-surface at Iceberg-Iceberg East
VANCOUVER, British Columbia / Oct 25, 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 / Oct 25, 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 23 diamond drill holes that were completed as part of a follow-up drill program at the new Iceberg and Iceberg East discoveries, a high-grade zone located 300m northeast of Keats Main along the highly prospective Appleton Fault Zone (“AFZ”). New Found’s 100%-owned Queensway project comprises a 1,662 km2 area, accessible via the Trans-Canada Highway, 15km west of Gander, Newfoundland and Labrador. Iceberg and Iceberg East Highlights: Hole No. From (m) To (m) Interval (m) Au (g/t) Zone NFGC-23-10881 34.85 43.90 9.05 14.00 Iceberg Including 35.20 38.75 3.55 31.56 And1 49.70 51.95 2.25 1.23 NFGC-23-15172 42.55 53.25 10.70 1.14 Iceberg East And1 74.00 79.55 5.55 7.95 Including 74.75 75.10 0.35 50.50 Including 78.15 78.95 0.80 21.40 NFGC-23-15862 43.50 53.60 10.10 6.65 Iceberg East Including 46.50 47.00 0.50 94.18 NFGC-23-15991 50.55 53.10 2.55 32.37 Iceberg East Including 52.60 53.10 0.50 162.00 Table 1: Iceberg and Iceberg East Drilling Highlights Note that the host structures are interpreted to be steeply dipping and true widths are generally estimated to be 170% to 95% and 240% to 70% of reported intervals. 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 4m consecutive dilution when above 200m vertical depth and 2m consecutive dilution when below 200m vertical depth. 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. 14.0 g/t Au over 9.05m in NFGC-23-1088 was drilled just 23m from surface at Iceberg, 16m up-dip of previously reported 105 g/t Au over 27.05m in NFGC-23-1210 (June 5, 2023) and 135m to the southwest of 29.4 g/t Au over 7.75m in NFGC-23-1380 (August 22, 2023) further demonstrating the high-grade continuity of Iceberg at very shallow depths (Figures 1-5). Drilling at Iceberg East 365m to the east continues to prove...