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New Found Gold Intercepts 18 g/t Au Over 6.75m, Expands Jackpot to 235m Depth
VANCOUVER, British Columbia / Nov 14, 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 / Nov 14, 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 18 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-23-15231 79.25 86.00 6.75 18.23 Jackpot Including 79.25 80.80 1.55 73.76 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% 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. 18.2 g/t Au over 6.75m in NFGC-23-1523 was intersected 45m down-dip of previously reported 119 g/t Au over 4.10m in NFGC-23-1425 (September 5, 2023) at Jackpot. Drilling at Jackpot to date has defined a high-grade gold domain covering a 75m strike length that starts at surface and extends to a depth of 100m, where it remains open for expansion (Figures 1-5). This interval is close to true width and occurs within the Jackpot Zone which spans an overall east-west striking mineralized corridor of 345m and, following today’s results, is drill-defined to a depth of 235m. Jackpot is a new high-grade gold zone that was announced on June 22, 2023, with the discovery interval of 95.7 g/t Au over 3.25m in NFGC-23-1292 i...