New Found Gold Corp. (TSXV: NFG) has received high-grade results from nine diamond drill holes that were completed as part of an infill and step-out drill programme testing the Lotto Main Vein located 2km north of the Keats Zone along the highly prospective Appleton Fault Zone (AFZ).
New Found’s 100% owned Queensway project comprises an approximately 1500 sq. km area, accessible via the Trans-Canada Highway approximately 15km west of Gander, Newfoundland and Labrador.
- At the Lotto prospect, diamond drilling is progressing on a work programme designed to step out and expand the known extents of the high-grade gold bearing Lotto Main Veinand to also infill in areas for better definition of the very high-grade gold domains which will help with understanding the mineralisation controls and ultimately guide future exploration efforts.
- The Lotto Main Vein contains high-grade gold mineralisation that has now been defined over a strike length of 220m with the intercept of 16.13 g/t Au over 3.60m in NFGC-22-664 and to a depth of 225m. This intercept is 190m north of the previously reported 150.3 g/t over 11.5m in NFGC-21-201. The Lotto Main Vein target is not closed off in any direction along strike or to depth.
- Infill drilling at the Lotto Main Vein is targeting a “roll”, an area where there is a drastic change in the vein orientation, interpreted to be a location of dilation and potentially correlated to the emplacement of high-grade gold mineralisation. The current drill results have provided further confirmation of this interpretation with the intercepts of 152.1 g/t Au over 3.85m in NFGC-22-673 and 12.98 g/t Au over 14.95m in NFGC-22-684.
- This exploration work supports the current geological model and has also contributed to the understanding of the mineralisation controls at Lotto. This improved understanding will allow for efficient testing of this high-grade corridor going forward as gold mineralisation remains open in all directions.
“These results affirm the richness and potential of the Lotto Main Vein. After a short hiatus to focus on near-surface targets in this area, drilling has resumed testing this target area to depth, successfully expanding segments of the Lotto Main Vein that contain very high-grade gold,” Melissa Render, VP Exploration for New Found, said.
“The Lotto Main Vein is open in all directions and ongoing exploration continues to capture critical information important to the understanding of the mineralisation controls, namely that these sites of complexity are often the locations of high-grade gold mineralisation thus representing high-priority target areas for future testing.”
For further information please visit: https://newfoundgold.ca/
