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New Found Gold Intercepts 86.9 g/t Au over 5.30m & 29.4 g/t Au over 7.75m at Iceberg
VANCOUVER, British Columbia / Aug 22, 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 22, 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 15 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-23-1380 45.80 53.55 7.75 29.36 Iceberg Including 47.00 48.65 1.65 111.48 Including 49.30 50.35 1.05 23.97 NFGC-23-1395 95.00 100.30 5.30 86.86 Iceberg Including 95.00 96.00 1.00 456.00 Table 1: Iceberg Drilling Highlights 1Note that the host structures are interpreted to be steeply dipping and true widths are generally estimated to be 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 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. 86.9 g/t Au over 5.30m in NFGC-23-1395 and 29.4 g/t Au over 7.75m in NFGC-23-1380 were designed to infill a 100m gap located between Iceberg and Iceberg East, successfully linking the two zones together, which is drill-defined over a strike length of 665m. This segment of Iceberg is particularly enriched in high-grade gold mineralization spanning at least 310m in strike and considerable widths (Figures 1-4). NFGC-23-1380 occurs at a vertical depth of only 30m and is located 35m above previously reported 12.5 g/t Au over 10.45m in NFGC-23-1402 (August 15, 2023). NFGC-23-1395 is located a further 30m to the southwest of NFGC-21-1402 and NFGC-23-1380, occurring at a vertical depth of 65m. Iceberg and Ice...