New Found Gold Corp. (TSXV: NFG) has made two high-grade gold near surface discoveries hosted by two separate structures within ~65m of the north end of the Keats Zone at the Queensway project in Newfoundland.
Both holes were drilled as part of a planned systematic programme to drill test along the Appleton Fault Zone (AFZ) at Queensway.
- The systematic drill programme launched in early 2022 to test the ~700m gap between the Keats and Golden Joint zones has now discovered three new and separate structures hosting high-grade gold mineralisation: the two new discoveries reported in this release and the 515 Zone discovery of 43.9 g/t Au over 3.85m reported on April 13, 2022.
- Drillhole NFGC-21-538, which intercepted 275 g/t Au over 2.15 at a vertical depth of 22m is located 65m north of the Keats Zone and is hosted within a newly discovered structure adjacent to the AFZ.
- The intercept of 8.70 g/t Au over 6.75m in NFGC-22-533 located at a vertical depth of 65m is an important discovery as it is hosted by a sequence of black shales that occur on the west side of the AFZ. To date, the majority of mineralisation found along this 2.7km segment of the AFZ from Keats to Lotto has been hosted by the sedimentary stratigraphy on the east side of the AFZ. This discovery opens a new prospective domain that is largely unexplored. This high-grade gold interval is associated with a broad domain of deformation interpreted in part to be the AFZ and likely another intervening fault zone.
- The high-grade gold mineralisation at the three new discoveries is similar to the epizonal character of the Keats, Golden Joint and Lotto zones that occur along this segment of the AFZ.
- Three drills are actively following up on these new discoveries, within the Keats – Golden Joint gap.
“Momentum is building. We have made three new high-grade discoveries over the past two months, all occurring in newly identified structures and located in different stratigraphic positions north of Keats,” Melissa Render, VP Exploration for New Found, said.
“We are very encouraged by these results and excited to expand on these new high-grade gold discoveries and determine how they fit into the overall structural network of gold bearing faults that is emerging adjacent to the AFZ. The frequency of these new high-grade discoveries is a testament to the strength and scale of the gold system at Queensway.
“Our growing understanding of this segment of the AFZ is guiding our interpretation and exploration efforts along the 9.5km of strike length at Queensway North and an additional +80km of unexplored strike length at Queensway South which will see an initial drill programme commence in the coming months with a focus on the AFZ southern extension.”
For further information please visit: https://newfoundgold.ca/
