Make Kitco Your Homepage

New Found drills 137 g/t gold over 2m at Keats, extends high-grade zone towards surface

Kitco News

Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here!

(Kitco News) - New Found Gold (TSXV: NFG) (OTC: NFGFF) announced Wednesday more high-grade drill results for the Keats Zone at its 100% owned Queensway gold project, located on the Trans-Canada Highway 15km west of Gander, Newfoundland.

The company said that drilling highlights include an interval of 137.49 g/t Au over 2.0m in NFGC-21-251 and an interval of 104.59 g/t Au over 2.20m in NFGC-21-310, which is the furthest south drill interval reported to date along the south-westerly plunging core dilatational zone extending drill definition of this zone.

The company added that the Keats high-grade zone vertical profile now exceeds 200m up dip of the core dilatational zone and is open to surface and along strike to the northeast and southwest.

Future exploration at Keats will continue to expand the Keats Main zone along strike and down plunge but also focus on targeting specific zones in both the hanging wall and foot wall of the Keats fault, New Found noted in its statement.

President Denis Laviolette stated, "The high-grade zones along the Appleton Fault continue to see significant expansion. Today's announcement demonstrates further continuity of high-grade gold mineralization at Keats including between the core dilatational zone and surface; a vertical distance of 200m." 

"These discoveries continue to support our belief in the high potential for additional discoveries along approximately 7.8km of strike on the Appleton Fault, within a prospective corridor of approximately 500m on each side of the Appleton Fault," he added.

New Found owns 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. Nine rigs are currently in operation at Queensway with the drill count planned to increase to ten rigs in Q3 2021.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.