New Found Gold (TSXV: NFG) this morning provided an extensive exploration update for its operations in Newfoundland. Perhaps just as significantly however, the firm announced that it will be listing its shares on a US big board.
The company has formally been cleared to list its equity on the New York Stock Exchange. The firm is expected to begin trading on the US big board in the third quarter of 2021, upon final receipt of approval from the exchange as well as the SEC. The company did not indicate what ticker it will trade under, or whether it’ll impact its Canadian listing.
In terms of the exploration update, the data provided by the firm was focused on the Appleton Fault structure. The company indicated that it has discovered three high grade deposits, namely being the Keats, Lotto, and recently discovered Golden Joint zones. The company also continues to explore new targets on the property, based on data collected with GoldSpot Discoveries, with the firm expecting to find additional high grade deposits on its Queensway property.
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More specifically, the company has identified a total of 15 additional areas along the fault that have “returned significant gold mineralization that [NFG] believes are prospective for high grade epizonal style discovery.” A number of drill highlights at additional prospective zones were reported, including:
- Keats North: 6.53 g/t gold over 2.0 metres
- Road: 35.4 g/t gold over 2.7 metres
- Sunday: 38.7 g/t gold over 2.95 metres
- Golden Joint HW: 12.7 g/t gold over 2.0 metres
- Little-Powerline: 2.61 g/t gold over 9.60 metres
- Cokes: 3.61 g/t gold over 14.85 metres
Finally, the company indicated a total of 61,700 metres of drilling has been conducted to date via 267 drill holes under the current program. Results for just 150 of those holes have been received to date.
New Found Gold last traded at $12.10 on the TSX Venture.
Information for this briefing was found via Sedar and New Found Gold. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
