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New Found Gold Makes First New High-Grade Discovery of 2024, Intercepts 26 g/t Au Over 7.65m & 23 g/t Au Over 5.25m at the “Honeypot Zone”
VANCOUVER, British Columbia / Jan 10, 2024 / 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 / Jan 10, 2024 / 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 drill program designed to test the newly discovered Honeypot Zone located 230m north of Jackpot on the east side of 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. Honeypot Highlights: Hole No. From (m) To (m) Interval (m) Au (g/t) Zone NFGC-23-18101 122.85 130.50 7.65 26.35 Honeypot Including 123.60 125.40 1.80 101.72 Including 126.30 126.75 0.45 24.06 NFGC-23-18281 168.00 182.70 14.70 2.05 Honeypot NFGC-23-19002 133.80 140.00 6.20 6.70 Honeypot Including 133.80 134.30 0.50 16.93 Including 134.90 136.00 1.10 17.24 And2 146.00 148.00 2.00 1.54 NFGC-23-19312 208.00 213.25 5.25 23.05 Honeypot Including 208.75 209.20 0.45 71.42 Including 210.10 211.10 1.00 67.99 Including 211.80 212.80 1.00 11.39 Table 1: Honeypot 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. 26.4 g/t Au over 7.65m in NFGC-23-1810, intersected at a vertical depth of 91m, and 23.1 g/t Au over 5.25m in NFGC-23-1931, located a further 100m down-dip, are part of a new discovery called Honeypot that was found along the east side of the AFZ, 230m north of Jackpot and 1.3km north of Lotto. This discovery was made as a result of a follow-up drill program testing a mineralized fault that was initially identifi...