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New Found Gold Intercepts 41 g/t Au Over 5.20M & 13 g/t Au Over 10.45M at Iceberg
VANCOUVER, British Columbia / Aug 15, 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 15, 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 16 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-23-11542 33.60 38.80 5.20 40.86 Iceberg Including 35.35 37.80 2.45 83.20 NFGC-23-12941 101.10 112.15 11.05 3.09 Iceberg Including 108.90 109.45 0.55 13.10 And 117.05 125.25 8.20 5.14 Including 117.05 117.80 0.75 45.86 NFGC-23-14021 99.30 109.75 10.45 12.51 Iceberg Including 107.00 107.65 0.65 156.00 Including 109.10 109.75 0.65 14.15 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 240% to 70% 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. 40.9 g/t Au over 5.20m in NFGC-23-1154 occurs just 25m below surface and 50m along strike to the south of previously reported 105 g/t Au over 27.05m in NFGC-23-1210 (June 5, 2023) at Iceberg. The consistent flow of near-surface high-grade gold intercepts demonstrates the strength of Iceberg at a shallow depth, where mineralization begins at the bedrock surface and is covered by a thin layer of overburden that is generally 4-6m deep (Figures 1-4). 12.5 g/t Au over 10.45m in NFGC-23-1402 is located 200m further east, starting 65m below sur...