The Prospector News

Keats Infill Drilling Returns 37.2 g/t Au over 6.45m and 17.9 g/t Au over 8.45m

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

 

 

 

 

 

New Found Gold Corp.  (TSX-V: NFG) (OTC: NFGFF) is pleased to announce assay results from an additional six holes drilled at the Keats Zone. These holes were drilled as part of the Company’s ongoing 200,000m diamond drill program at its 100%-owned Queensway Project, located on the Trans-Canada Highway 15 km west of Gander, Newfoundland.

 

Highlights

 

  • Highlights include:

 

Hole No. From (m) To (m) Interval (m)* Au (g/t)
NFGC-21-78 113.20 115.50 2.30 18.22
NFGC-21-86 141.95 150.00 8.05 5.6
NFGC-21-87 4.70 9.35 4.65 27.8
And 20.45 30.70 10.25 2.5
NFGC-21-97 174.95 181.40 6.45 37.1
NFGC-21-101 180.85 189.30 8.45 17.9
*Note that the host structures are interpreted to be steeply dipping and true widths are estimated to be 70% to 80% of reported intervals. Intervals are calculated at a 1 g/t Au cut-off grade; grades have not been capped in the averaging.

 

  • The intervals of 37.2 g/t Au over 6.45m and 17.9 g/t Au over 8.45m in drill holes NFGC-21-97 and NFGC 21-101 provide further confirmation of the continuity of the Keats high grade zone in the down-plunge direction (Figure 1).
  • Drill hole NFGC-21-87 returned 27.8 g/t Au over 4.65 m starting at 4.7m down-hole depth plus 2.51 g/t Au over 10.3 m starting at 20.5m down-hole depth, providing further confirmation of high-grade gold at bedrock surface at the north end of Keats.

 

Greg Matheson, P.Geo., COO of New Found, stated: “These results are significant in that they provide confirmation of the continuity of high-grade gold mineralization between our deeper results down plunge including the recently released 61.8 g/t Au over 13.65m in NFGC-21-118 and the more closely spaced drilled near-surface, high-grade results up-plunge (see Figure 1). Additional results in this area roughly centered around fence line 4700N are anticipated shortly. Current drilling at Keats is focused on extending the high-grade zone down plunge, providing further definition of the near surface, high-grade mineralization, and testing additional zones of high-grade mineralization including in the footwall veining.

 

Highlights – Keats Main Zone Drill Intervals

 

 

Hole Interval Au Hole Interval Au Hole Interval Au Hole Interval Au
(m) (g/t) (m) (g/t) (m) (g/t) (m) (g/t)
19-01 19.0 92.9 20-32 13.1 45.3 20-45 13.8 28.4 21-79 7.9 22.7
20-18 7.9 24.1 20-34 2.4 29.3 And 3.3 20.6 21-80 39.1 25.8
20-19 18.9 31.2 20-37 10.3 25.0 And 2.0 17.1   And 2.3 41.6
20-21 18.4 15.8 20-38 5.8 19.8 20-46 2.9 13.7 21-87 4.7 27.8
20-23 41.4 22.3 20-40A 7.3 19.3 21-52 2.1 136.7 21-90 3.9 24.5
20-26 6.9 44.5 20-41 10.4 22.5 And 14.1 31.5 21-97 6.5 37.1
20-28 4.1 40.1    And 15.9 31.4 And 5.6 13.7 21-101 8.5 17.9
20-29 16.9 25.0 20-43 18.2 10.0 20-56 32.3 6.2 21-104 11.4 29.1
20-30 6.1 10.3 21-78 2.3 18.2 21-118 13.7 61.8

 

 

Drillhole Details

 

Table 2: Summary of results reported in this news release.

 

 

Hole No. From (m) To (m) Interval (m)* Au (g/t) Zone
NFGC-21-65 170.00 172.90 2.90 1.04 Keats Main
NFGC-21-78 102.00 105.70 3.70 2.43 Keats Main
And 113.20 115.50 2.30 18.2
NFGC-21-86 141.95 150.00 8.05 5.65 Keats Main
And 171.90 174.25 2.35 1.09
NFGC-21-87 4.70 9.35 4.65 27.8 Keats Main
And 20.45 30.70 10.25 2.51
And 79.00 81.00 2.00 2.03
NFGC-21-97 135.00 137.65 2.65 1.31 Keats HW
And 153.65 156.00 2.35 1.04 Keats Main
And 162.65 167.00 4.35 1.21
And 174.95 181.40 6.45 37.2
NFGC-21-101 180.85 189.30 8.45 17.9 Keats Main
*Note that the host structures are interpreted to be steeply dipping and true widths are estimated to be 70% to 80% of reported intervals. Intervals are calculated at a 1 g/t Au cut-off grade; grades have not been capped in the averaging.

 

Table 3: Location details of drill holes reported on in this news release.

 

Hole No. Azimuth (°) Dip (°) Length (m) UTM E UTM N
NFGC-21-65 300 -45 266 658335 5427512
NFGC-21-78 300 -45 168 658183 5427426
NFGC-21-86 300 -45 231 658209 5427397
NFGC-21-87 300 -45 125 658218 5427535
NFGC-21-97 300 -45 225 658195 5427347
NFGC-21-101 300 -45 221 658206 5427341

 

Sampling, Sub-sampling and Laboratory

 

True widths of the intercepts reported in this press release have yet to be determined but are estimated to be 70% to 80% of reported core lengths. Assays are uncut, and calculated intervals are reported over a minimum length of 2 meters using a lower cut-off of 1.0 g/t Au. All HQ split core assays reported were obtained by either complete sample metallic screen/fire assay or standard 30-gram fire-assaying with ICP finish at ALS Minerals in Vancouver, British Columbia, or by entire sample screened metallic screen fire assay at Eastern Analytical in Springdale, Newfoundland. The complete sample metallic screen assay method is selected by the geologist when samples contain coarse gold or any samples displaying gold initial fire assay values greater than 1.0 g/t Au. Drill program design, Quality Assurance/Quality Control and interpretation of results is performed by qualified persons employing a Quality Assurance/Quality Control program consistent with National Instrument 43-101 and industry best practices. Standards and blanks are included with every 20 samples for Quality Assurance/Quality Control purposes by the Company as well as the lab. Approximately 5% of sample pulps are sent to secondary laboratories for check assays.

 

Qualified Person

 

The technical content disclosed in this press release was reviewed and approved by Greg Matheson, P. Geo., Chief Operating Officer, and a Qualified Person as defined under National Instrument 43-101. Mr. Matheson consents to the publication of this news release dated March 29, 2021 by New Found. Mr. Matheson certifies that this news release fairly and accurately represents the information for which he is responsible.

 

About New Found Gold Corp.

 

New Found holds a 100% interest in the Queensway Project, located 15 km west of Gander, Newfoundland, and just 18 km from Gander International Airport. The project is intersected by the Trans-Canada Highway and has logging roads crosscutting the project, high voltage electric power lines running through the project area, and easy access to a highly skilled workforce. The Company is currently undertaking a 200,000-m drill program at Queensway, with a planned increase from the current six drill rigs to eight drill rigs in Q1, 2021. New Found currently has working capital of approximately $67 million.  On closing of the $15 million flow through financing announced March 18, 2021 the Company would have an estimated $82 million of working capital.

 

 


Figure 1. Keats Main Zone Long Section (CNW Group/New Found Gold Corp.)

 


Figure 2. Keats Plan View (CNW Group/New Found Gold Corp.)

 

Posted March 29, 2021

Share this news article

MORE or "UNCATEGORIZED"


Stratabound to Acquire California Gold Mining Inc. to Create a Combined, Well-Capitalized, Advanced North American-Focused Gold Exploration and Development Company

Acquisition includes NI 43-101 mineral resource of 515,000 ounce... READ MORE

April 21, 2021

Omai Gold Mines announces high-grade and broad zones of gold from the first two holes at the Wenot Pit, including 16.0 meters of 9.0 g/t gold and 32.1 meters of 3.6 g/t gold

Omai Gold Mines Corp. (TSX-V:OMG) is pleased to announce that res... READ MORE

April 21, 2021

Vision Lithium Completes Private Placement for Gross Proceeds of $3.6-Million

Vision Lithium Inc. (TSX-V: VLI) (OTCQB: ABEPF) (FSE: 1AJ2) is pl... READ MORE

April 21, 2021

GoGold Drills 1,320 g/t AgEq over 1.5m within 16.8m of 306 g/t AgEq, Extending Mineralized Zone 200m to East at Casados in Los Ricos North

GoGold Resources Inc. (TSX: GGD) (OTCQX: GLGDF)  is pleased to ... READ MORE

April 21, 2021

Mistango & Orefinders Announce Strategic Partnerships & Equity Investments with Kirkland Lake Gold Inc.

Mistango River Resources Inc. (CSE: MIS) is pleased to announce a... READ MORE

April 21, 2021

Copyright 2021 The Prospector News