New Found Gold hits more bonanza grades, expands Jackpot zone to 205 metres deep

New Found Gold (TSXV:NFG; NYSEA:NFGC) has received assays from 30 more drill holes from the Jackpot zone which keeps returning bonanza grades. The best results reported this week include 52 g/t gold over 2.9 metres and 31.5 g/t gold over 2.5 metres.

The company highlighted several results from the Jackpot zone:

• NFGC-23-1415 – 4.7 metres grading 10.98 g/t, including 1.3 metre at 38.41 g/t gold.
• NFGC-23-1447 – 2.85 metres grading 51.93 g/t, including 1.9 metre at 77.82 g/t gold.
• NFGC-23-1458 – 2.8 metres grading 13.83 g/t, including 0.7 metre at 49.31 g/t gold.
• NFGC-23-1464 – 6.1 metres grading 4.63 g/t, including 0.6 metre at 38.87 g/t gold.
• NFGC-23-1488 – 9.5 metres grading 3.01 g/t, including 0.7 metre at 25.7 g/t gold.
• NFGC-23-1505 – 3 metres grading 18.93 g/t, including 0.9 metre at 61.78 g/t gold.
• NFGC-23-1574 – 2.5 metres grading 31.5 g/t, including 0.9 metre at 90.4 g/t gold.

The Jackpot zone, discovered in June last year, is now known to extend to 205 metres below surface and have a strike length of 185 metres. Within the zone, there is a high-grade portion defined over 75 metres strike with mineralization starting at surface and extending to a depth of 100 metres. The above assays come from  material in that high-grade portion.

The Jackpot zone is part of New Found’s wholly owned Queensway gold project 15 km west of Gander, Nfld. The company is currently working on a 500,000-metre drill program.

More details and the latest technical report are posted on www.NewFoundGold.ca.