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New Found Gold Intercepts 41 g/t Au Over 8.7m & 33 g/t Au Over 6.7m, Extends Iceberg Strike Length To 665m
VANCOUVER, British Columbia / Jun 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 / Jun 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 10 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)1 Au (g/t) Zone NFGC-23-1264 20.00 26.70 6.70 33.28 Iceberg Including 20.00 21.90 1.90 85.35 Including 22.65 23.30 0.65 80.80 NFGC-23-1286 77.60 86.30 8.70 40.55 Iceberg Including 79.55 81.40 1.85 176.00 Including 83.50 84.20 0.70 15.45 Table 1: Iceberg 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. 40.6 g/t Au over 8.70m in NFGC-23-1286 and 33.3 g/t Au over 6.70m in NFGC-23-1264 occur at or just below surface and are located 50m 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). Continued step-out drilling at Iceberg East has intercepted 4.66 g/t Au over 2.70m in NFGC-23-1307, representing the furthest east intercept received to date into the KBFZ. This intercept is located 100m along strike of previously reported highlight interval 21.7 g/t Au over 4.55m in NFGC-23-1285 and expands the Iceberg-Iceberg East s...