New Found Gold (TSXV: NFG) is committed to continue drill testing its flagship Queensway project in Newfoundland. The company has started the year with a bang, expanding its already massive drill program.
New Found has expanded the drill program by 150,000 metres as it continues to test the property, bringing the total size of the program to 650,000 metres of drilling. To date, 516,263 metres of drilling has been completed, including 195,899 metres of drilling conducted in 2023.
Drilling going forward is set to target prospective areas that are beneath current mineralization as well as in the peripheral along the Appleton North Corridor. Exploration is also set to occur at the JBP Fault Zone, which runs parallel to the Appleton Fault, as well as at Queensway South.
“As we move into 2024, our exploration team will focus its attention on unlocking the next layer of the cake through targeted deeper drilling. In addition, we will continue to look for new areas of mineralization that are peripheral to the Appleton Fault Zone, the 110km of strike that is covered by the Queensway Project. The discovery of Iceberg East and Jackpot, which are zones located at distances ranging from 300m-500m away from the Appleton Fault, highlight the ability of this system to concentrate gold well outside of the narrow window we were initially targeting,” commented VP of Exploration Melissa Render.
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New Found Gold last traded at $4.49 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.
