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New Found Gold Reviews 2022 Achievements
VANCOUVER, British Columbia / Dec 28, 2022 / Business Wire / New Found Gold Corp. (“New Found” or the “Company”) (TSX-V: NFG, NYSE-A: NFGC) is pleased to review
About this update from New Found Gold Corp
[{"type":"text","content":"VANCOUVER, British Columbia / Dec 28, 2022 / Business Wire / New Found Gold Corp. (“New Found” or the “Company”) (TSX-V: NFG, NYSE-A: NFGC) is pleased to review the 2022 year of exploration at its 100%-owned Queensway Project (“Queensway”). The Company entered 2022 with significant working capital and an aggressive drill plan to continue to build off initial discoveries made along a 2.7km stretch of the Appleton Fault Zone (“AFZ”), which included Keats, Lotto, and Golden Joint. The discovery of multiple zones validated management’s working model that gold mineralization at Queensway is spatially associated with the AFZ that strikes over 100km+ of the Queensway Project producing a large territory of prospective ground yet to be explored. Highlights Building on these early successes, in 2022 New Found: Discovered multiple new zones along the AFZ, including Keats North, the Keats South Extension, Lotto North, and Keats West (Figure 1). Intercepted 42.6 g/t Au over 32m at Keats West, a new discovery that remains open in all directions and, more importantly, proves the west side of the highly prospective AFZ is host to high-grade epizonal style gold mineralization, opening up a vast unexplored domain. Drilled 184,911m in 2022, a record year of core production. Approximately 319,000m of the ongoing 400,000m drill program has been completed to date, with results pending for ~60,000m. Completed an inaugural drill program at Queensway South, drilling 7,254m across 33 holes, with assays pending. Initiated the use of industry-leading Chrysos PhotonAssayTM method, through MSALABS in Val-d’Or, providing a more efficient, cost-effective, and environmentally friendly alternative to the traditional fire assay method for gold determination. Significantly expanded its exploration team with 257 workers now on site including 165 contractors and 92 employees. Currently, 90% of New Found’s workforce calls Newfoundland home. Appointed Ron Hampton as Chief Development Officer to accelerate the Queensway Project through advanced exploration, environmental permitting, and into the project development phase. Completed construction of the Company’s 25,000 ft2 “Giga-Shack” core processing facility, with a grand opening planned for January 2023 (Figure 2). Optioned 13,755ha of additional ground at Queensway North, which covers 6.1km of the AFZ and 7.9km of t...