New Found Gold Corp. (TSXV: NFG, NYSE-A: NFGC) has received high-grade assay results from three diamond drill holes designed to expand the high-grade gold mineralisation at the Golden Joint Zone centred approximately 1km north of the Keats Zone in Newfoundland.
These holes were 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.
- At the Golden Joint Main Vein, the interval of 70.65 g/t Au over 5.25m in hole NFGC-21-386 extends the drill-defined depth of high-grade gold by approximately 50m vertically from 235m to 285m deep. This vein is developed in the hanging wall to the Appleton Fault Zone and has been drill-defined over a strike length of approximately 250m that remains open in all directions.
- At the Golden Joint Hanging Wall (HW’ Zone, the interval of 33.10 g/t Au over 2.10 m in NFGC-21-274 is the deepest reported intercept to date and extends the zone to a vertical depth of 112m. The Golden Joint HW Zone consists of a network of high-grade gold veins located east of the Golden Joint Main Vein that are now drill-tested over a strike length of approximately 210m and remain open in all directions.
“Today’s announcement continues to demonstrate the high-grade nature of both the Golden Joint Main Vein and the Golden Joint HW, discovered by New Found in 2021,” COO, Greg Matheson, said.
“Centrally located between the company’s Keats and Lotto zones, the Golden Joint veins continue to expand as we step out along strike and to depth and they remain wide open in all directions.
“Similar to the new footwall discovery of 88.5 g/t Au over 3.35m in Hole NFGC-21-238 at Keats, we are very encouraged to be encountering high-grade gold in multiple veins with differing orientations in the Golden Joint – Lotto corridor and believe these results speak to the strength and extent of the gold mineralising system along the Appleton Fault Zone.
“Good continuity is developing on these targets and our geological modelling is allowing us to accurately predict the location of these high-grade veins and to extend them.”
For further information please visit: https://newfoundgold.ca/
