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New Found Gold Intercepts 16.1 g/t Au Over 5.30m at Lotto North; Intercepts Gold Mineralization on West Side of Appleton Fault At “Zone 36”
VANCOUVER, British Columbia / Jan 10, 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 10, 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 forty-eight 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 Dome to Lotto North. 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. Lotto, Lotto North, and Zone 36 Highlights: Hole No. From (m) To (m) Interval (m)1 Au (g/t) Zone NFGC-22-646 71.80 80.30 8.50 4.72 Lotto N Including 71.80 72.55 0.75 38.50 NFGC-22-753 204.35 207.65 3.30 11.38 Lotto Main Including 204.35 205.15 0.80 45.40 NFGC-22-758 155.65 158.60 2.95 14.58 Lotto N Including 157.85 158.60 0.75 53.70 NFGC-22-788 120.70 126.00 5.30 16.12 Lotto N Including 122.00 123.55 1.55 49.63 NFGC-22-818 50.45 52.75 2.30 11.05 Lotto N Including 52.40 52.75 0.35 72.10 NFGC-22-816 271.70 281.20 9.50 3.63 Zone 36 Including 277.30 277.80 0.50 17.15 NFGC-22-895 174.65 179.20 4.55 7.26 Lotto N Including 178.60 179.20 0.60 34.09 And 193.25 195.85 2.60 9.49 Including 193.25 193.90 0.65 37.97 Table 1: Lotto, Lotto North and Zone 36 Drilling Highlights 1Note that the host structures are interpreted to be steeply dipping and true widths are unknown at this time for Lotto North and Zone 36. Lotto Main host structure is interpreted to be steeply dipping and true widths are generally estimated to be 70% to 90% 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 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. Targeted drilling at the new Lotto North discovery (see November 2, 2022 release) has intersected multiple high-grade gold intervals including 16.12 g/t Au over 5.30m in NFGC-2...