New Found Gold Corp. (TSXV: NFG) has expanded the newly discovered high-grade gold zone found in the Keats footwall. This hole was drilled as part of the company’s ongoing 400,000m diamond drill programme at its 100%-owned Queensway Project, located on the Trans-Canada Highway 15km west of Gander, Newfoundland.’
Highlights:
- Exploration drilling into the Keats footwall domain has identified a second new zone of high-grade gold mineralisation with the intercept of 28.20 g/t Au over 4.50m in NFGC-21-413A. The position of this new gold zone is 85m in a down-hole direction below the previously reported footwall discoveries announced in October 2021 and January 2022, 145m below the Keats Main Zone and is at an approximate vertical depth of 375m, the deepest intercept to date drilled at Keats.
- Mineralisation in NFGC-21-413A is characterised by a broad domain of brecciation and quartz-stockwork veining containing visible gold. Future drilling will focus on expanding this new zone of high-grade gold mineralisation.
“It is extremely encouraging to see this style of high-grade gold mineralisation developed in the Keats footwall, the area between the Keats Main Zone and the Appleton Fault Zone. It is a large region with limited drilling, each time we push a hole deeper, it seems we find something new,” Melissa Render, VP of Exploration for New Found, said.
“This appears to be an entirely new zone and not connected to the 88.53 g/t Au over 3.35m intercept reported in NFGC-21-238 or to the 56.69 g/t Au over 2.45m intercept reported in NFGC-21-407.
“Continued drilling will look to expand these zones toward surface and work to better understand the network of gold-bearing structures that are dissecting this expansive block of rock. I would also like to express my excitement for receiving our first batch of Chrysos PhotonAssay results.
“Advancing our use of this technology is a pivotal move that will be better for the environment, decrease assay turnaround times and reduce costs. With continued test work, the company is confident there will be a smooth transition to using this new analytical method in conjunction with conventional screen fire assays.”
Discussion
- The assay results reported in this news release are part of a programme designed to test the Chrysos PhotonAssay method with gold mineralised core samples collected on the Queensway Project in preparation for utilising the method at MSALABS which is currently commissioning a Chrysos PhotonAssay unit at their new facility in Val d’Or, Quebec.
- Whole core samples were collected from two diamond drill holes and shipped to Intertek for Chrysos PhotonAssay. Intertek is a global organization providing testing, inspection, certification, and total quality assurance services to various industries worldwide, and are currently operating Chrysos PhotonAssay units at their laboratory facilities in Perth, Western Australia.
- A subset of these drill interval samples over a range of grades was subsequently submitted for 50g fire assay to completion at ALS Minerals in Perth, Australia as part of a rigorous Quality Control (QC) review. The Chrysos PhotonAssay method is non-destructive which beneficially allows for such additional check assaying; this process of follow-on fire assay will continue until an adequate data population is acquired to allow the company to validate the Chrysos PhotonAssay method on Queensway samples.
- Included in this first batch of whole core samples submitted to Intertek for Chrysos PhotonAssay was an increased frequency of internal standards and blanks inserted at a rate of every five samples. These QC samples returned values within the accepted ranges.
Queensway 400,000m Drill Programme Update
Approximately 34% of the planned 400,000m programme at Queensway has been drilled to date with approximately 32,400m of the core with pending assay results. Ten core rigs are currently operating and New Found is targeting an increase in the drill count to 14 rigs by the end of Q1 2022.
For further information please visit: https://newfoundgold.ca/
