Intercepts 430.2 g/t Au Over 5.25m In New Discovery Area
New Found Gold Corp. (TSXV: NFG /OTC: NFGFF) has received further very high-grade assay results from four holes drilled at the Golden Joint zone, a brand new discovery located approximately 1km north of the Keats Zone and approximately 850m south of the Lotto Zone.
These holes were drilled as part of the company’s ongoing 200,000m diamond drill programme at its 100%-owned Queensway Project, located on the Trans-Canada Highway 15km west of Gander, Newfoundland.
The company reported that an intercept of 430.2 g/t Au over 5.25m in hole NFGC-21-241 represents a grade x width value of 2,258 g/t Au x metes, the second highest value encountered to date on the Queensway project.
Furthermore, over 700 grains of gold were observed in this 5.25m intercept, representing the most per mete seen to date anywhere at the Queensway Project.
The new Golden Joint discovery occurs in two to three sub parallel vein systems located approximately 1km North of the Keats Zone and 850m South of the Lotto Zone.
COO, Greg Matheson, said results from the parallel Golden Joint HW (hanging wall) zone approximately 150m east of the main Golden Joint Zone also returned several significant intervals often including visible gold mineralisation, including 12.7 g/t Au over 2.0m in hole NFGC-21-199.
Drilling will step out on these intervals to further test the Golden Joint HW Zone. The company currently has two drills rigs are operating at Golden Joint, focused on stepping out from discovery hole NFGC-21-241. Additional assays are pending.
Following a high-grade hole at Lotto reported last week, the Golden Joint discovery further affirms that the Appleton Fault is host to multiple areas of high-grade, near surface gold mineralisation,” Mr Matheson said.
“As our team has theorised all along, the Keats zone is not the only area of significant gold mineralisation. Hole NFGC-21-241 at the Golden Joint appears epizonal in nature and is very similar to the high-grade gold mineralisation observed at the Keats Zone, which is located 1km to the South.”
He said Lotto and Keats are just two of several high priority targets identified over 7.8km of strike along the Appleton Fault on the northern portion of the Queensway project. As we continue to explore these showings, we now have demonstrated that the high-grade intercepts are not isolated to just the Keats Zone and this takes us a significant step further in confirming the presence of repeated zones of high grade epizonal style mineralisation along the Appleton Fault Zone.”
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