New Found Gold Corp. (TSXV: NFG) has obtained positive 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 1500 sq. km area, accessible via the Trans-Canada Highway approximately 15km west of Gander, Newfoundland and Labrador.
Keats North Highlights:
Keats North comprises multiple newly discovered high-grade gold veins in a corridor covering approximately 630m of strike northwards from the northern end of Keats Main to the recently discovered 515 zone.
- These new results are defining an extensive network of mineralised veins including Umbra, Penumbra, Apogee, Enigma, and Perigee/515 over a roughly 630m long x 150m wide area linking Keats Main and the 515 discovery area. These veins start at the surface, are generally steeply dipping, and to date have been drill tested to a maximum vertical depth of 125m.
- Noteworthy intervals in these veins include:
- 45.9 g/t Au over 2.75m in NFGC-22-578 (Umbra);
- 19.3 g/t Au over 2.05m in NFGC-22-610 (Umbra);
- 40.6 g/t Au over 2.00m in NFGC-22-586 (Enigma);
- 24.1 g/t Au over 2.20m in NFGC-22-580 (Enigma);
- and 13.2 g/t Au over 2.05m and 10.7 g/t Au over 2.70m in NFGC-22-559 (Enigma).
- Due to a thin cover of glacial till there is very limited surface exposure of bedrock along the AFZ corridor including between Keats Main and Golden Joint, and until recently there had been essentially no drill testing of this gap. In early 2022 the Company implemented a program of systematic grid drilling between Keats and Golden Joint leading to the 515 discovery (43.9 g/t Au over 3.85m in NFGC-22-515 and two near surface intervals of 8.70 g/t Au over 6.75m in NFGC-22-533 and 275 g/t Au over 2.15m in NFGC-22-538
- The results reported in this release are the initial assays following up on these discovery holes, with further results including several high priority holes anticipated in the next several weeks.
“Our drilling is demonstrating that the corridor surrounding the Appleton Fault Zone is prolifically mineralised via a series of interconnected structures and vein sets that form a webbing shown to occur within a few hundred-meter-wide damage zone on either side of the of the primary, crustal-scale fault,” VP of Exploration, Melissa Render, said.
“These veins are not constrained by orientation or stratigraphy, which greatly increases the amount of strike length and the variety of lithological environments to explore. In specific areas, blow outs of gold mineralisation occur where veins and structures cross paths, as illustrated at Keats Main, Lotto, and Golden Joint. The complexity and extent of the system provides an opportunity for discovery in a very large volume of prospective host stratigraphy.
“We have now ramped up to 14 drills to continue to accelerate our exploration and rate of discovery. Today’s news outlines an area roughly equal to the strike length of Keats, connecting two zones together that were previously separate. Drilling in this area remains sparse and shallow, with several priority assays pending.”
For further information please visit: https://newfoundgold.ca/
