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New Found Gold Intercepts 167 g/t Au Over 4.70M at Iceberg
VANCOUVER, British Columbia / Aug 09, 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 / Aug 09, 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 nine diamond drill holes that were completed as part of a follow-up drill program at the new Iceberg discovery, 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 1,662km2 area, accessible via the Trans-Canada Highway, 15km west of Gander, Newfoundland and Labrador. Iceberg Highlights: Hole No. From (m) To (m) Interval (m) Au (g/t) Zone NFGC-23-11571 250.60 255.30 4.70 166.79 Iceberg Including 251.60 253.35 1.75 440.74 And Including 251.60 252.35 0.75 1,010.00 Table 1: Iceberg Drilling Highlights Note that the host structures are interpreted to be steeply dipping and true widths are generally estimated to be 170% to 95%. 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. 167 g/t Au over 4.70m in NFGC-23-1157 was intersected 32m down dip of previously reported 19.6 g/t Au over 5.25m in NFGC-23-1217 (May 31, 2023) and 125m along strike to the south of previously reported 105 g/t Au over 27.05m in NFGC-23-1210 (June 5, 2023) at Iceberg. This interval is interpreted to be close to true width and occurs at a vertical depth of 170m demonstrating strong high-grade gold continuity down-dip at depth (Figures 1-5). The Iceberg-Iceberg East segment is defined over a strike length of 665m, with high-grade gold mineralization starting at surface and currently extended to a vertical depth of 170m. Minimal exploration work has been completed below 200m vertical depth with the deepest drilling completed to date intersecting the structure and gold mineralization at 27...