New Found Gold (TSXV: NFG) posted its latest drill results this morning from its flagship Queensway project in Newfoundland. The latest data comes from the Lotto Main Vein on the property, which is found north of the flagship Keats zone.
The assays released this morning are said to be both infill as well as step out drill holes, as the firm looks to expand its understanding of the zone and its extents. The zone itself is now said to have a strike length of 220 metres, and extends to a depth of 225 metres, while remaining open in all directions.
Highlights from the results include:
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- NFGC-22-664: 16.13 g/t gold over 3.60 metres
- NFGC-22-673: 152.08 g/t gold over over 3.85 metres, including 211.91 g/t gold over 2.75 metres
- NFGC-22-684: 12.98 g/t gold over over 14.94 metres
Current drilling is focused on testing the Lotto target to depth, and is said to remain a high-priority target for further testing, including drill testing to the north in untouched regions of the Appleton Fault Zone.
READ: New Found Gold Hits 5.75 Metres Of 18.95 g/t Gold
The current 400,000 metre drill program is said to now be 63% complete, with 38,840 metres of drilling awaiting assay results.
New Found Gold last traded at $4.59 on the TSX Venture.
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