Days after announcing positive results at the Golden Joint zone, New Found Gold (TSXV: NFG) has released further positive assays from its Queensway project in Newfoundland, this time from the Iceberg zone.
Drilling at the Iceberg zone consisted of 23 diamond drill holes that were intended as a follow-up program at the Iceberg and Iceberg East discoveries, found 300 metres to the northeast of the Keats Main zone along the Appleton Fault.
Highlights from the results include:
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- NFGC-23-1088: 14.00 g/t gold over 9.05 metres from 34.85 metres, including 31.56 g/t gold over 3.55 metres
- NFGC-23-1517: 7.95 g/t gold over 5.55 metres from 74.00 metres
- NFGC-23-1586: 6.65 g/t gold over 10.10 metres from 43.50 metres
- NFGC-23-1599: 32.37 g/t gold over 2.55 metres from 50.55 metres
The high grade segment of the Iceberg-Iceberg East zone is now said to span a total of 570 metres, and when combined with Keats Main, makes up the Keats-Baseline Fault Zone that amounts to a high grade corridor 970 metres in length.
READ: New Found Gold Expands Golden Joint Zone To Surface With 66.16 g/t Gold Over 2.65 Metres Intercept
“We are actively working on a step-out drill program east of Road to continue to expand this near-surface high-grade segment further along strike, while deeper drilling will commence upon the receipt of the results from the 3D seismic. The KBFZ, host to the Keats, Iceberg and Iceberg East zones, remains open along strike and to depth while observations made from our current drilling footprint indicate that the system continues,” commented VP of Exploration Melissa Render.
New Found Gold last traded at $6.08 on the TSX Venture.
Information for this story was found via Sedar and the sources mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
