New Found Gold Corp. (TSXV: NFG) has received strong results from 17 diamond drill holes that were completed as part of an ongoing systematic drill programme exploring a highly prospective segment of the Appleton Fault Zone (AFZ) immediately north of the Keats Zone.
New Found’s 100% owned Queensway project comprises an approximately 1500km2 area, accessible via the Trans-Canada Highway approximately 15km west of Gander, Newfoundland and Labrador.
- Keats North refers to an area of ~630m of strike x ~150min width immediately north of the Keats Main Zone comprised of multiple newly discovered mineralised veins and associated structures that subcrop below a thin cover of glacial till. Several notable structures hosting gold mineralised veining are demonstrating excellent geological continuity and remain open in all directions with very limited drilling below 150m to date.
- Multiple high-grade gold intervals have been returned from the limited drilling completed so far at Keats North. Preliminary interpretation by the company demonstrates continuity of high-grade gold mineralisation developing in certain areas within these veins, which in some cases is correlated to structural intersections.
- Drilling in the “Enigma” Zone area provides one such example with hole NFGC-22-665 returning 18.95 g/t Au over 5.75m in a step-out hole ~60m northeast along strike from a previously reported intercept of 275 g/t Au over 2.15m in NFGC-22-538.
- Ongoing drilling at Keats North is designed to further define areas of high-grade mineralisation within these gold bearing structures, which remain open along strike and to depth.
“We are very encouraged by the recent discovery of mineralised veins at Keats North, not only have they been found to span an area of ~630m x ~150m to date, but there is also a direct relationship between Keats North and Keats,” VP of Exploration, Melissa Render, said.
“These prospects are tied together by two approximately north-south striking fault zones, Umbra and Penumbra, that clearly play a role in producing the spectacular high grades encountered at the north end of Keats Main and extend as far north as the 515 discovery.
“This area is certainly lighting up with a high success rate in hitting gold mineralisation in veining and commonly including visible gold. With continued drilling, these zones are proving to have excellent geological continuity, are open in all directions and with limited drilling below ~150m in this entire corridor, the area remains sparsely drilled.
“There is significant prospective ground remaining to be tested and to put it into perspective, we are trying to assess an area with a footprint similar to Keats itself. The Keats North discovery provides further confirmation of our big picture exploration thesis: that a substantial damage zone was created in brittle host rocks surrounding the AFZ and exploration work is designed to continue to find and define multiple areas of high-grade gold within this extensive target corridor.”
Exploration Update
- Fourteen drills are turning largely focused along the Queensway North segment of the AFZ. Of note, two drills are working at Keats North, three at Keats Main, three along the west side of the AFZ at various target areas, two south of the Trans-Canada Highway, one at Lotto, one at Lotto North, and one at Big Dave.
- To date 247,520m have been drilled of a 400,000m programme. Assays are pending for a total of 38,090m of core with 7,018m from Keats, 8,378m from Keats North, 1,946m from Golden Joint, 1,867m from Lotto, 4,341m from Lotto North, 3,283m from Big Dave, 4,606m from TCH, and the balance from several target areas along the AFZ. The company will release assays upon receipt of a sufficient number of results from specific areas and zones.
- This week a barge arrived on site that will allow drill testing of the projected extension of high-grade gold mineralisation to surface in areas previously inaccessible due to surface water and associated exploration exclusion zones. These surface constraints have left considerable areas untested at both Keats and Golden Joint that will now be easily reached via the barge. Initially, work from the barge will commence at Golden Joint before proceeding to Keats.
For further information please visit: https://newfoundgold.ca/
