Bonanza 104 g/t Au over 2.8 metres for New Found Gold

There are bonanza grades to be had at the Queensway gold project 15 km west of Gander, Nfld. New Found Gold (TSXV: NFG; NYSE-A: NFGC} reported that hole NFG-21-393 extension in the Keats footwall returned 104 g/t gold over 2.8  metres, including 380 g/t over 0.8 metre.

The Keats FW zone where the drilling was done includes what is known as the Paradox vein. Previous  drilling there returned 119 g/t gold over 2.4 metres, 6.66 g/t over 5.9 metres, and 21.9 g/t over 2.5 metres.

The Keats Main zone assayed 14.44 g/t over 2.5 metres, including 68.2 g/t over 0.5 metre from hole NFGC-22-8672. The true width of the intersection is unknown at this time.

“The Keats FW region, a wedge of rock sandwiched between the two most important structures known to date on the Queensway project – the AFZ (Appleton Fault zone) and the KBFZ (Keats Baseline Fault zone) – ranks high on the company’s target priority list. With early attention heavily focused on the Keats Main zone, little drilling was ever conducted in this area until now,” said VP exploration Melissa Render. “Early indications show strong continuity of high-grade hosted by the Paradox vein and its associated fault. These intercepts, while still shallow in the context of an orogenic system, will dovetail nicely with our highly anticipated 3D seismic survey, which is set to wrap up later this month.

“Today’s (Aug. 2) results provide us with an example of a discreet, yet very high-grade, gold-bearing vein at a depth of roughly 300 metres, which will assist in training the seismic dataset to see if Paradox is recognized, how it interplays with the network of veins adjacent to the AFZ, and where other similar and undrilled structures may exist nearby for further testing.”

The current drilling results are part of New Found Gold’s 500,000-metre drill program. A further 42,100 metres of core await assay results. Results are obtained with fire assay methods by ALS Canada and with photo assay techniques by MSA Labs.

Visit www.NewFoundGold.ca for more information.