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New Found Gold Hits 52 g/t Au Over 2.85m & 31.5 g/t Au Over 2.50m, Expands Jackpot to 185m of Strike and to 205m Depth
VANCOUVER, British Columbia / Oct 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 / Oct 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 30 diamond drill holes that were completed as part of a drill program designed to test the newly discovered Jackpot Zone, an east-west striking, steeply dipping high-grade vein located on the east side of the highly prospective Appleton Fault Zone (“AFZ”), as well as from systematic grid drilling on the east side of the AFZ. 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. Jackpot Highlights: Hole No. From (m) To (m) Interval (m) Au (g/t) Zone NFGC-23-14151 28.00 32.70 4.70 10.98 Jackpot Including 28.00 29.30 1.30 38.41 NFGC-23-14471 59.20 62.05 2.85 51.93 Jackpot Including 59.20 61.10 1.90 77.82 NFGC-23-14581 75.00 77.75 2.75 13.83 Jackpot Including 76.60 77.30 0.70 49.31 NFGC-23-14641 83.00 89.10 6.10 4.63 Jackpot Including 83.35 83.95 0.60 38.87 NFGC-23-14882 108.20 117.65 9.45 3.01 Jackpot Including 110.00 110.70 0.70 25.70 NFGC-23-15051 76.75 79.75 3.00 18.93 Jackpot Including 78.90 79.75 0.85 61.78 NFGC-23-15741 30.50 33.00 2.50 31.50 Jackpot Including 31.30 32.15 0.85 90.40 Table 1: Jackpot 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. 4True widths are unknown at this time. 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. Jackpot is a new high-grade gold discovery that was announced on June 22, 2023, with the discovery interval of 95.7 g/t Au over 3.25m in NFGC-23-1292 intercepted at a vertical depth of just 20m...