New Found Gold Corp. (TSXV: NFG) has obtained high-grade results from one diamond drill hole that was completed as part of a drill program designed to test new target areas along the northern segment of the highly prospective Appleton Fault Zone (AFZ).
New Found’s district-scale Queensway Project comprises a 1,662sq. km area, accessible via the Trans-Canada Highway, 15km west of Gander, Newfoundland and Labrador.
- 95.7g/t Au over 3.25m in NFGC-23-1292 was intersected in a new zone named “Jackpot” located 2.5km north of Keats and 950m north of Lotto. This new discovery is at a vertical depth of just 20m and is situated 280m east of the AFZ.
- Jackpot was discovered through a targeted drilling programme that was designed to test an east-west striking topographic lineament, a similar orientation to the Keats-Baseline Fault Zone. Jackpot is characterized by a brittle fault zone that is laced with coarse-grained visible gold.
- An aggressive follow-up programme is currently underway and several intervals are already pending assay results.
“Our targeted drill programme continues to successfully outline new zones of gold mineralization,” VP of Exploration, Melissa Render, said.
“Jackpot is the 16th near surface zone identified along a 4.1km stretch of Appleton North, starting at the south end of Keats and running up to Everest. Initial drilling at Jackpot is reminiscent of our early findings at Lotto, a structural zone associated with a strong presence of visible gold.
“Jackpot is located 280m east of the AFZ, demonstrating the distal strength of the AFZ. We have locked onto something new here and our ability to interpret and act quickly will allow us to rapidly assess this new and exciting target.”
The company is currently undertaking a 500,000m drill programme at Queensway and approximately 61,300m of core is currently pending assay results.
For further information please visit: https://newfoundgold.ca/
