New Found Gold (TSXV: NFG) is reporting this morning that it has discovered yet another zone at its Queensway property, following the intersection of mineralization in an area between the Golden Joint and Dome zones at the property.
The claimed discovery is the result of assays on a single drill hole which was released this morning as part of a number of assays published from drilling across the Queensway property. Highlights from the results released this morning include:
- Golden Dome:
- NFGC-24-2158: 9.51 g/t gold over 7.45 from a depth of 482.10 metres,
- and 343.12 g/t gold over 2.15 metres from a depth of 492.35 metres
- and 40.59 g/t gold over 2.20 metres from a depth of 511.0 metres
- NFGC-24-2158: 9.51 g/t gold over 7.45 from a depth of 482.10 metres,
- Keats South Deep
- NFGC-24-2112-W1: 23.31 g/t gold over 2.20 metres from a depth of 850.70 metres
- NFGC-24-2112-W2: 1.97 g/t gold over 7.20 metres from a depth of 988.65 metres
- Keats-AFZ Deep
- NFGC-24-2135: 13.68 g/t gold over 4.85 metres from a depth of 561.65 metres
The newly discovered zone, referred to as Golden Dome, is found between the Golden Joint and Dome zones along the Appleton Fault. The discovery is part of a previously untested gap between the two zones that spans 500 metres, with the intersect being made at a depth 200 metres below existing drilling at Dome.
The new discovery is said to suggest that a larger mineralized network exists over a 750 metre strike length, which extends to depths of 375 metres, connecting Dome to Golden Joint. Follow up drilling is said to be ongoing to test the theory.
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READ: New Found Gold Hits 104.62 g/t Gold Over 2.1 Metres At Kingsway
“Today’s discovery at Golden Dome indicates that high-grade gold is present deeper in the Queensway system. Golden Dome is well positioned in a wide-open area between several major structures including Golden Joint, Dome and Iceberg East with mineralization characteristics akin to those observed at many of the other near surface zones,” commented Chief Operating Officer Greg Matheson.
New Found Gold last traded at $3.17 on the TSX Venture.
Information for this briefing was found via Sedar and the companies mentioned. 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.
