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New Found Gold Intercepts 26 g/t Au Over 9.45m, Extends Iceberg Strike Length to 575m and to a Depth Of 160m
VANCOUVER, British Columbia / Jun 08, 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 / Jun 08, 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 15 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 1,662 km2 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-23-12011 102.15 109.00 6.85 20.67 Iceberg Including 102.15 102.75 0.60 193.00 Including 108.40 109.00 0.60 25.70 NFGC-23-1261A2 237.55 247.00 9.45 25.98 Iceberg Including 237.55 238.50 0.95 10.11 Including 239.80 240.40 0.60 372.37 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% and 2 40% to 70%. 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. 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. NFGC-23-1261A intersected 26.0 g/t Au over 9.45m in a 25m step-out to the south of previously reported 19.6 g/t Au over 5.25m in NFGC-23-1217 (May 31, 2023), extending the Iceberg-Iceberg East segment of the Keats Baseline Fault Zone (“KBFZ”) to 575m in strike length. This intercept is the deepest high-grade hit yet at Iceberg and expands the drill-defined depth from 135m to 160m. NFGC-23-1201 intersected 20.7 g/t Au over 6.85m 50m along strike to the southwest of previously released 105 g/t Au over 27.05m in NFGC-23-1210 (June 5, 2023), further demonstrating strong continuity of high-grade gold at Iceberg. Continued step-out drilling expanding the KBFZ at Iceberg East has intercepted several highlight intervals including 1.58 g/t Au over 8.70m, 1....