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New Found drills 2,202 gram-meter gold near surface at Keats

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(Kitco News) - New Found Gold (TSXV: NFG) (OTC: NFGFF) today announced high-grade drill results from four additional holes drilled at the Keats Zone, which is a part of the company’s 100%-owned Queensway project, located on the Trans-Canada Highway 15km west of Gander, Newfoundland.

The company said that the intervals of 131.1 g/t Au over 4.65m and 124.4 g/t over 17.7m (2,202 gram-meter) in Hole NFGC-20-59 start at a vertical depth of approximately 27m and continue to approximately 63m vertical depth. These intervals provide further drill confirmation of a broad zone of near surface, high-grade gold mineralization at the north end of Keats, explained New Found.

COO Greg Matheson, P.Geo., commented: "The outstanding intervals of 131.1 g/t Au over 4.65m plus 124.4 g/t over 17.7m in Hole NFGC-20-59 yield the highest width x grade of any hole to date at Keats (cumulative +2800 m*g/t).  These intervals provide further drill confirmation of the substantial zone of near surface high-grade gold mineralization at the north end of Keats. We continue our infill and step-out drilling at Keats and look forward to reporting further results in the near future."

New Found holds a 100% interest in the Queensway project, located 15km west of Gander, Newfoundland, and just 18km from Gander International Airport. The company is currently undertaking a 200,000m drill program at Queensway. Seven rigs are currently in operation at Queensway with the drill count planned to increase to ten rigs by the end of May 2021.

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