New Found unveils 1,131 g/t gold rock sample from new area at Queensway
(Kitco News) - New Found Gold (TSXV: NFG, OTC: NFGFF) reported yesterday that high-grade gold surface grab samples have been found in a new area 2km north of the Lotto Zone at the company's 100% owned Queensway project, located on the Trans-Canada Highway 15km west of Gander, Newfoundland.
According to the company's statement, a potential new zone of high-grade gold mineralization has been discovered along the Appleton Fault yielding assay results up to 1,131 g/t Au and is being called Big Dave.
This showing is located 2km north of the Lotto Zone and 4km north of the Keats Zone, representing the northernmost showing of high-grade gold to date at the Queensway. Sampling at Big Dave represents the first recorded surface rock samples from this under explored section of the Appleton Fault.
The company said that the nearest drill hole to this new zone is located over 2km to the south at the Lotto Zone and these results indicate the potential for further high-grade gold mineralization along the underexplored Appleton Fault.
COO Greg Matheson stated, "Over 20 years ago a single high-grade float sample was located along the Appleton Fault yielding 1,869 g/t Au; this sample led to the eventual discovery of the nearby Keats Zone. The continued drill expansion of the high-grade Keats Zone demonstrates our ability to find the source of such high-grade samples. Continuing to discover new areas with high-grade gold is exciting and speaks volumes to the potential to transform the Queensway into a multi-discovery district."