Business
New Found Gold Intercepts 49.7 g/t Au Over 29.9m at Iceberg Zone
VANCOUVER, British Columbia / Mar 13, 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 / Mar 13, 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 one diamond drill hole that was 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) NFGC-23-1120 53.55 57.35 3.80 14.60 Including 55.75 56.70 0.95 54.50 And 63.20 93.05 29.85 49.65 Including 63.70 64.75 1.05 56.11 Including 65.75 66.95 1.20 19.63 Including 67.55 68.55 1.00 31.90 Including2 73.10 77.45 4.35 183.28 Including2 78.85 80.35 1.50 31.13 Including2 83.75 84.55 0.80 14.65 Including2 85.55 86.40 0.85 25.50 Including2 90.10 93.05 2.95 158.00 Table 1: Iceberg Drilling Highlights 1Note that the host structures are interpreted to be steeply dipping and true widths are generally estimated to be 60% to 95% of reported intervals.2 A structurally complex interval containing possible oblique veining where true widths could be as low as 30%; further drilling at varying orientations is required to accurately apply a true width to this interval. 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. 49.7 g/t Au over 29.85m and 14.6 g/t Au over 3.80m in NFGC-23-1120 is a 25m step-down from the fence of three Iceberg discovery holes released on March 1, 2023, which outlined a new, at-surface zone traced over 50m in strike length, with the highlight interval of 72.2 g/t Au over 9.65m in NFGC-23-1100, (Figures 1-4). Starting at just 35m from surface NFGC-23-1120 exhibits a nearly continuous 40m drilled minera...