Business
New Found Gold Intercepts 49.5 g/t Au Over 2.30M & 20.2 g/t Au Over 3.35M at Knob, 2km South of Keats
VANCOUVER, British Columbia / Jun 20, 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 20, 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 23 diamond drill holes that were completed as part of a targeted drill program exploring the highly prospective segment of the Appleton Fault Zone (“AFZ”) proximal to the Knob Zone. 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. Rocket and Quarry Highlights: Hole No. From (m) To (m) Interval (m) Au (g/t) Zone NFGC-22-9062 192.95 196.30 3.35 20.15 Quarry Including 192.95 193.25 0.30 215.00 NFGC-22-9501 23.50 25.80 2.30 49.45 Rocket Including 24.90 25.40 0.50 227.00 Table 1: Rocket and Quarry 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. 2True widths are unknown at this time. 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. Exploration drilling taking place 2km south of Keats in the Knob prospect area on the east side of the AFZ has intersected multiple domains of high-grade gold mineralization. Today’s holes were positioned to target known veins in this region including the recently discovered Rocket and Knob-Quarry Veins (Figures 1-4). Drilling at Rocket, an approximately north-south striking, steeply dipping vein immediately north of Knob and 200m east of the AFZ, returned a highlight interval of 49.5 g/t Au over 2.30m in NFGC-22-950. This interval is located 48m along strike of previously released 12.6 g/t Au over 4.45m in NFGC-22-704 (January 18, 2023) and at a vertical depth of just 20m. Drilling at Knob-Quarry, targeting a series of approximately east-west striking structures similar in orientation to the Keats-Basel...