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New Found Gold Intercepts 31 g/t Au Over 7.95m at Iceberg & 15 g/t Au Over 7.55m at Iceberg East
VANCOUVER, British Columbia / Jun 28, 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 28, 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 five 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 and Iceberg East Highlights: Hole No. From (m) To (m) Interval (m) Au (g/t) Zone NFGC-23-12741 80.70 88.25 7.55 15.45 Iceberg East Including 81.35 84.20 2.85 28.00 Including 87.30 88.25 0.95 29.60 NFGC-23-12791 87.20 95.15 7.95 30.79 Iceberg Including 87.95 89.10 1.15 14.33 Including 90.55 91.35 0.80 243.55 Including 92.10 92.90 0.80 12.92 Including 93.50 94.20 0.70 20.60 Table 1: Iceberg and Iceberg East Drilling Highlights 1Note that the host structures are interpreted to be steeply dipping and true widths are generally estimated to be 70% 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. 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. 30.8 g/t Au over 7.95m in NFGC-23-1279 occurs just 60m from surface and is located 85m along strike to the northeast of previously released 105 g/t Au over 27.05m in NFGC-23-1210 (June 5, 2023). These results expand the high-grade segment of the Keats-Baseline Fault Zone (“KBFZ”) at Iceberg and continue to demonstrate strong continuity of high-grade gold mineralization (Figures 1-4). A further 265m to the northeast, continued step-out drilling at Iceberg East has intercepted 15.5 g/t Au over 7.55m in NFGC-23-1274. This intercept is shallow, 60m below surface, and is a 55m step-out from previously released 21.7 g/t Au over 4.45m in NFGC-23-1285 (May 31, ...