Oleblue
1 year ago
New Found Gold Intercepts 101 g/t Au Over 2.75m & 11.5 g/t Au Over 8.9m at “421 Zone” at Keats Main
Mr. Collin Kettell reports:
VANCOUVER, British Columbia / Jul 24, 2023 / Business Wire / New Found Gold Corp. (“New Found” or the “Company”) (TSX-V: NFG, NYSE-A: NFGC) is pleased to announce the results from eight diamond drill holes that were completed as part of a follow-up drill program targeting the 421 Zone, a high-grade gold-bearing structure that crosscuts the southern end of the Keats Main Zone along the highly prospective Appleton Fault Zone (“AFZ”). New Found’s 100%-owned Queensway project comprises a 1,662km2 area, accessible via the Trans-Canada Highway, 15km west of Gander, Newfoundland and Labrador.
https://www.juniorminingnetwork.com/junior-miner-news/press-releases/2830-tsx-venture/nfg/145301-new-found-intercepts-101-g-t-au-over-2-75m-11-5-g-t-au-over-8-9m-at-421-zone-at-keats-main.html?utm_source=newsletter_1672&utm_medium=email&utm_campaign=junior-mining-brief-for-date-l-b-j-y
couldbebetter
1 year ago
My take is NFGC will soon be using its 3-D seismic survey results to better calibrate
its drilling as well as to look for new, deeper, and perhaps larger & higher grades. So
far, most drilling has been relatively shallow. 3-D seismic allows a look deeper underground
which may show their geologists where they should be drilling these deeper holes for maximum
efficiency and impact. The share price has not (yet) reflected the high grade myriad number of discoveries
to date. This is frustrating to long term investors. Management has stated that they will sell once they
get an offer they cannot say no to. Quite obviously, there will be much more drilling in the future with
many new, ultra-high grade gold discoveries made. Exactly what will be the tipping point for a large
mining company to pull the trigger here, I do not know. NFGC is like a series of underground vaults,
each containing a fortune of gold. Mining companies will want to break into these vaults which takes
additional time and planning. The sooner they pull the trigger the quicker they get to the rewards.
This area contains immense treasure, whose value seems to grow by the day.
Oleblue
2 years ago
New Found Intercepts 152.1 g/t Au Over 3.85m & 12.98 g/t Au Over 14.95m at Lotto Main Vein, Confirms Continuity of High-Grade Over 220m Strike
Tue, September 13, 2022 at 6:30 AM·14 min read
In this article:
NFGC
+7.82%
VANCOUVER, British Columbia, September 13, 2022--(BUSINESS WIRE)--New Found Gold Corp. ("New Found" or the "Company") (TSX-V: NFG, NYSE-A: NFGC) is pleased to announce the results from nine diamond drill holes that were completed as part of an infill and step-out drill program testing the Lotto Main Vein located 2km north of the Keats Zone along the highly prospective Appleton Fault Zone ("AFZ"). New Found’s 100% owned Queensway project comprises an approximately 1500km2 area, accessible via the Trans-Canada Highway approximately 15km west of Gander, Newfoundland and Labrador.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220913005571/en/
Figure 1. Keats - Lotto plan view map (Graphic: Business Wire)
Lotto Drilling Highlights
1Note that the host structures are interpreted to be steeply dipping and true widths are generally estimated to be 40% to 90% of reported intervals. Infill veining in secondary structures with multiple orientations crosscutting the primary host structures are commonly observed in drill core which could result in additional uncertainty in true width. Composite intervals reported carry a minimum weighted average of 1 g/t Au diluted over a minimum core length of 2m with a maximum of 2m consecutive dilution. Included high-grade intercepts are reported as any consecutive interval with grades greater than 10 g/t Au. Grades have not been capped in the averaging and intervals are reported as drill thickness.
At the Lotto prospect, diamond drilling is progressing on a work program designed to step out and expand the known extents of the high-grade gold bearing Lotto Main Vein and to also infill in areas for better definition of the very high-grade gold domains which will help with understanding the mineralization controls and ultimately guide future exploration efforts.
The Lotto Main Vein contains high-grade gold mineralization that has now been defined over a strike length of 220m with the intercept of 16.13 g/t Au over 3.60m in NFGC-22-664 and to a depth of 225m. This intercept is 190m north of the previously reported 150.3 g/t over 11.5m in NFGC-21-201 (reported on June 23, 2021). The Lotto Main Vein target is not closed off in any direction along strike or to depth (Figures 1, 3, and 4).
Infill drilling at the Lotto Main Vein is targeting a "roll", an area where there is a drastic change in the vein orientation, interpreted to be a location of dilation and potentially correlated to the emplacement of high-grade gold mineralization. The current drill results have provided further confirmation of this interpretation with the intercepts of 152.1 g/t Au over 3.85m in NFGC-22-673 and 12.98 g/t Au over 14.95m in NFGC-22-684 (Figures 1, 3, 4, and 5).
This exploration work supports the current geological model and has also contributed to the understanding of the mineralization controls at Lotto. This improved understanding will allow for efficient testing of this high-grade corridor going forward as gold mineralization remains open in all directions.
https://finance.yahoo.com/news/found-intercepts-152-1-g-103000984.html
doinit
3 years ago
New,Found,is,advancing,itsL100%,owned 1,510km2 Queensway gold project, located on the Trans-Canada highway 15km west of Gander, Newfoundland. A 200,000m drill campaign is underway utilizing eight drills, focused on a 7.8km corridor along the Appleton fault and a 12.4km corridor along the JBP fault. On the Appleton fault, following up on an initial discovery hole that returned 19m of 92.9 g/t Au at the Keats Zone, drilling has returned wide intervals of high-grade gold mineralization starting at bedrock surface and extending 465m down plunge and open.
At the Lotto Zone 2km north of Keats, from the initial discovery hole of 41.2 g/t Au over 4.75m and 25.4 g/t Au over 5.15m, follow up drilling is indicating continuity to depth with recent deeper results including 225 g/t Au over 2.5m and more recently 150.3 g/t Au over 11.5m.
On June 29, 2021 New Found announced an interval of 430.2 g/t Au over 5.25m at the Golden Joint Zone, a new discovery approximately 1km north of Keats.
Multiple other high-grade targets are now being pursued over 7.8km of strike along the Appleton Fault Zone and 12.4km along the JBP Fault Zone. Work is also underway to define additional drill targets on approximately 70km of prospective strike along the Appleton and JBP fault structures on the southern portion of the Queensway property.
With approximately $80 million in working capital New Found is well funded to pursue its exploration programs,
doinit
3 years ago
Basic Shares Outstanding
152,349,764
Broker Warrants @ $1.30 and $1.50 strike
629,599
Options
15,247,000
Fully Diluted Shares Outstanding
168,226,363
Working Capital
$82M
doinit
3 years ago
THIS,ONE,COULD,BE,THE,BEST,GOLD,STOCK,OF,THE,YEAR
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