New Found Intercepts 3.2 g/t Au Over 43.8m and 10.3 g/t Au Over 13m at Keats West & Defines a New Gold Domain at Cokes Zone
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Figure 1: Photos of mineralization, Left: at ~16.5m in NFGC-23-1741, Right: at ~34.2m in NFGC-23-1708 ^Note that these photos are not intended to be representative of gold mineralization in NFGC-23-1708 and NFGC-23-1741. (Photo: Business Wire)
Keats West Highlights:
Hole No. |
From (m) |
To (m) |
Interval (m) |
Au (g/t) |
Zone |
NFGC-23-11441 |
53.65 |
69.90 |
16.25 |
4.28 |
Keats W |
Including |
53.65 |
54.35 |
0.70 |
11.16 |
|
Including |
55.05 |
55.80 |
0.75 |
12.94 |
|
Including |
61.85 |
62.85 |
1.00 |
15.90 |
|
Including |
63.90 |
64.75 |
0.85 |
10.22 |
|
And1 |
74.05 |
83.05 |
9.00 |
2.97 |
|
NFGC-23-17081 |
5.70 |
49.50 |
43.80 |
3.20 |
Keats W |
Including |
12.70 |
13.50 |
0.80 |
12.25 |
|
Including |
34.00 |
35.20 |
1.20 |
34.47 |
|
Including |
37.50 |
38.05 |
0.55 |
12.10 |
|
Including |
49.15 |
49.50 |
0.35 |
25.40 |
|
NFGC-23-17131 |
26.00 |
49.00 |
23.00 |
2.97 |
Keats W |
Including |
45.80 |
47.15 |
1.35 |
23.99 |
|
NFGC-23-17181 |
9.85 |
14.15 |
4.30 |
4.75 |
Keats W |
And |
21.00 |
23.70 |
2.70 |
1.56 |
|
And |
27.40 |
31.45 |
4.05 |
1.69 |
|
And |
45.75 |
48.00 |
2.25 |
1.03 |
|
And |
51.00 |
53.50 |
2.50 |
1.22 |
|
NFGC-23-17411 |
9.00 |
22.00 |
13.00 |
10.27 |
Keats W |
Including |
16.10 |
17.20 |
1.10 |
98.15 |
|
And1 |
34.70 |
40.00 |
5.30 |
8.52 |
|
Including |
36.75 |
37.55 |
0.80 |
47.30 |
|
And1 |
49.10 |
72.60 |
23.50 |
3.22 |
|
Including |
71.75 |
72.60 |
0.85 |
57.10 |
|
NFGC-23-17451 |
31.30 |
34.60 |
3.30 |
12.79 |
Keats W |
Including |
32.30 |
32.70 |
0.40 |
90.10 |
|
NFGC-23-17551 |
50.85 |
53.00 |
2.15 |
16.84 |
Keats W |
Including |
51.55 |
52.10 |
0.55 |
62.20 |
|
NFGC-23-17651 |
3.30 |
26.50 |
23.20 |
3.49 |
Keats W |
Including |
12.90 |
13.35 |
0.45 |
10.50 |
|
Including |
14.30 |
15.00 |
0.70 |
15.95 |
Cokes Highlights:
Hole No. |
From (m) |
To (m) |
Interval (m) |
Au (g/t) |
Zone |
NFGC-23-15212 |
38.60 |
51.05 |
12.45 |
2.21 |
Cokes |
NFGC-23-16093 |
39.90 |
53.40 |
13.50 |
2.75 |
Cokes |
NFGC-23-18521 |
17.10 |
30.60 |
13.50 |
1.94 |
Cokes |
NFGC-23-18704 |
15.45 |
26.55 |
11.10 |
1.76 |
Cokes |
And4 |
36.60 |
45.15 |
8.55 |
2.54 |
|
And1 |
49.20 |
57.10 |
7.90 |
3.64 |
|
NFGC-23-18911 |
35.60 |
47.40 |
11.80 |
4.33 |
Cokes |
Table 1:
Note that the host structures are interpreted to be moderately dipping and true widths are generally estimated to be 170% to 95%, 40%-70%, and 10% to 40%. 4True widths are unknown at this time. Infill veining in secondary structures with multiple orientations crosscutting the primary host structures are commonly observed in drill core which could result in additional uncertainty in true width. Composite intervals reported carry a minimum weighted average of 1 g/t Au diluted over a minimum core length of 2m with a maximum of 4m consecutive dilution when above 200m vertical depth and 2m consecutive dilution when below 200m vertical depth. Included high-grade intercepts are reported as any consecutive interval with grades greater than 10 g/t Au. Grades have not been capped in the averaging and intervals are reported as drill thickness.
- Three of today’s highlight intervals were drilled into the westernmost extent of the Keats West zone, intercepting 3.49 g/t Au over 23.20m in NFGC-23-1765, 12.8 g/t Au over 3.30m in NFGC-23-1745, and 16.9 g/t Au over 2.15m in NFGC-23-1755. All three holes hit the structure shallowly starting between 2m and 35m vertical depth, indicating strong near-surface continuity of high-grade gold mineralization over a strike length of 315m at Keats West.
- Further east, within the Keats West structure, additional results have been received from holes that were designed to test gaps left from the previous drilling campaign. Several thick intervals of high-grade mineralization were intercepted including the highlight intervals 3.20 g/t Au over 43.80m in NFGC-23-1708, 10.3 g/t Au over 13.00m, and 3.22 g/t Au over 23.50m in NFGC-23-1741, and 2.97 g/t Au over 23.00m in NFGC-23-1713.
- Gold mineralization at Keats West is hosted by a low-angle thrust fault that dips gently to the south-southwest and has a drill-defined mineralized footprint spanning 305m long by 315m wide and starts at surface with all intercepts drilled to date occurring above 130m vertical depth. The zone has a cumulative average thickness of 30m.
-
At Cokes, a historic showing located 300m southwest of
Keats West on the west side of the AFZ, drilling has successfully expanded upon the mineralized zone through a combination of grid and targeted drilling. A first-pass program conducted by New Found in 2021 returned encouraging results at Cokes including the highlight interval of 2.40 g/t over 23.70m in NFGC-21-157. -
Today’s results expand the mineralized footprint at Cokes and define a low-angle and south-dipping gold mineralized structure that is very similar in orientation to the nearby
Keats West . Several significant intervals were received including 4.33 g/t Au over 11.80m in NFGC-23-1891, 2.75 g/t Au over 13.50m in NFGC-23-1609, 3.64 g/t Au over 7.90m, 2.54 g/t Au over 8.55m and 1.76 g/t Au over 11.10m in NFGC-23-1870 that together span a domain 65m wide by 90m long. Additional drilling is required to understand the mineralizing controls in this area and to expand on this new discovery.
Drillhole Details
Hole No. |
From (m) |
To (m) |
Interval (m) |
Au (g/t) |
Zone |
NFGC-23-11441 |
18.45 |
25.30 |
6.85 |
1.74 |
Keats W |
And1 |
32.00 |
34.00 |
2.00 |
1.66 |
|
And1 |
39.65 |
48.00 |
8.35 |
1.25 |
|
And1 |
53.65 |
69.90 |
16.25 |
4.28 |
|
Including |
53.65 |
54.35 |
0.70 |
11.16 |
|
Including |
55.05 |
55.80 |
0.75 |
12.94 |
|
Including |
61.85 |
62.85 |
1.00 |
15.90 |
|
Including |
63.90 |
64.75 |
0.85 |
10.22 |
|
And1 |
74.05 |
83.05 |
9.00 |
2.97 |
|
NFGC-23-17081 |
5.70 |
49.50 |
43.80 |
3.20 |
Keats W |
Including |
12.70 |
13.50 |
0.80 |
12.25 |
|
Including |
34.00 |
35.20 |
1.20 |
34.47 |
|
Including |
37.50 |
38.05 |
0.55 |
12.10 |
|
Including |
49.15 |
49.50 |
0.35 |
25.40 |
|
NFGC-23-17131 |
26.00 |
49.00 |
23.00 |
2.97 |
Keats W |
Including |
45.80 |
47.15 |
1.35 |
23.99 |
|
And1 |
55.00 |
57.90 |
2.90 |
1.91 |
|
NFGC-23-17181 |
9.85 |
14.15 |
4.30 |
4.75 |
Keats W |
And1 |
21.00 |
23.70 |
2.70 |
1.56 |
|
And1 |
27.40 |
31.45 |
4.05 |
1.69 |
|
And1 |
45.75 |
48.00 |
2.25 |
1.03 |
|
And1 |
51.00 |
53.50 |
2.50 |
1.22 |
|
NFGC-23-17411 |
9.00 |
22.00 |
13.00 |
10.27 |
Keats W |
Including |
16.10 |
17.20 |
1.10 |
98.15 |
|
And1 |
34.70 |
40.00 |
5.30 |
8.52 |
|
Including |
36.75 |
37.55 |
0.80 |
47.30 |
|
And1 |
49.10 |
72.60 |
23.50 |
3.22 |
|
Including |
71.75 |
72.60 |
0.85 |
57.10 |
|
NFGC-23-17451 |
12.70 |
17.00 |
4.30 |
4.95 |
Keats W |
Including |
15.00 |
16.00 |
1.00 |
10.90 |
|
And1 |
31.30 |
34.60 |
3.30 |
12.79 |
|
Including |
32.30 |
32.70 |
0.40 |
90.10 |
|
NFGC-23-17511 |
2.30 |
5.80 |
3.50 |
2.03 |
Keats W |
And1 |
11.40 |
16.40 |
5.00 |
1.50 |
|
NFGC-23-17551 |
12.00 |
14.00 |
2.00 |
1.07 |
Keats W |
And1 |
24.80 |
32.60 |
7.80 |
4.423 |
|
Including |
27.30 |
27.70 |
0.40 |
17.65 |
|
And1 |
42.15 |
46.05 |
3.90 |
1.22 |
|
And1 |
50.85 |
53.00 |
2.15 |
16.84 |
|
Including |
51.55 |
52.10 |
0.55 |
62.20 |
|
NFGC-23-1758 |
No Significant Values |
Keats W |
|||
NFGC-23-17651 |
3.30 |
26.50 |
23.20 |
3.49 |
Keats W |
Including |
12.90 |
13.35 |
0.45 |
10.50 |
|
Including |
14.30 |
15.00 |
0.70 |
15.95 |
|
And1 |
32.55 |
35.00 |
2.45 |
1.02 |
|
And1 |
55.75 |
62.00 |
6.25 |
1.67 |
Hole No. |
From (m) |
To (m) |
Interval (m) |
Au (g/t) |
Zone |
NFGC-22-8031 |
85.00 |
88.00 |
3.00 |
2.07 |
Cokes |
NFGC-22-819 |
No Significant Values |
Cokes |
|||
NFGC-22-849 |
No Significant Values |
Cokes |
|||
NFGC-22-857 |
No Significant Values |
Cokes |
|||
NFGC-22-9641 |
29.00 |
31.40 |
2.40 |
2.18 |
Cokes |
And1 |
35.55 |
37.60 |
2.05 |
1.17 |
|
And1 |
63.00 |
68.55 |
5.55 |
1.92 |
|
NFGC-23-1116 |
No Significant Values |
Cokes |
|||
NFGC-23-11254 |
14.00 |
16.45 |
2.45 |
1.85 |
Cokes |
NFGC-23-1133 |
No Significant Values |
Cokes |
|||
NFGC-23-1142 |
No Significant Values |
Cokes |
|||
NFGC-23-1153 |
No Significant Values |
Cokes |
|||
NFGC-23-14491 |
19.10 |
21.70 |
2.60 |
1.05 |
Cokes |
NFGC-23-14634 |
13.00 |
17.25 |
4.25 |
1.29 |
Cokes |
NFGC-23-1478 |
No Significant Values |
Cokes |
|||
NFGC-23-1506 |
No Significant Values |
Cokes |
|||
NFGC-23-15211 |
12.05 |
14.20 |
2.15 |
4.27 |
Cokes |
And2 |
38.60 |
51.05 |
12.45 |
2.21 |
|
And2 |
56.25 |
62.00 |
5.75 |
1.37 |
|
NFGC-23-1534 |
No Significant Values |
Cokes |
|||
NFGC-23-15544 |
66.65 |
68.80 |
2.15 |
1.80 |
Cokes |
NFGC-23-1563 |
No Significant Values |
Cokes |
|||
NFGC-23-1576 |
No Significant Values |
Cokes |
|||
NFGC-23-1592 |
No Significant Values |
Cokes |
|||
NFGC-23-15961 |
8.95 |
11.30 |
2.35 |
1.64 |
Cokes |
And1 |
17.00 |
19.40 |
2.40 |
1.25 |
|
And1 |
23.75 |
27.40 |
3.65 |
2.17 |
|
And1 |
43.15 |
51.95 |
8.80 |
1.48 |
|
NFGC-23-1603 |
No Significant Values |
Cokes |
|||
NFGC-23-16093 |
39.90 |
53.40 |
13.50 |
2.75 |
Cokes |
NFGC-23-18351 |
32.50 |
34.70 |
2.20 |
1.60 |
Cokes |
NFGC-23-1842 |
No Significant Values |
Cokes |
|||
NFGC-23-18464 |
20.00 |
22.70 |
2.70 |
2.06 |
Cokes |
And2 |
27.55 |
31.25 |
3.70 |
2.86 |
|
NFGC-23-18521 |
17.10 |
30.60 |
13.50 |
1.94 |
Cokes |
NFGC-23-1858 |
No Significant Values |
Cokes |
|||
NFGC-23-1860 |
No Significant Values |
Cokes |
|||
NFGC-23-1864 |
No Significant Values |
Cokes |
|||
NFGC-23-18704 |
15.45 |
26.55 |
11.10 |
1.76 |
Cokes |
And4 |
36.60 |
45.15 |
8.55 |
2.54 |
|
And1 |
49.20 |
57.10 |
7.90 |
3.64 |
|
NFGC-23-18744 |
36.6 |
39 |
2.4 |
1.23 |
Cokes |
And4 |
75.50 |
77.75 |
2.25 |
1.12 |
|
NFGC-23-18854 |
7.90 |
14.00 |
6.10 |
1.43 |
Cokes |
And4 |
58.65 |
61.20 |
2.55 |
1.69 |
|
NFGC-23-18911 |
35.60 |
47.40 |
11.80 |
4.33 |
Cokes |
NFGC-24-2008 |
No Significant Values |
Cokes |
|||
NFGC-24-20254 |
8.80 |
12.00 |
3.20 |
1.11 |
Cokes |
And4 |
21.50 |
23.50 |
2.00 |
1.17 |
|
And4 |
26.25 |
29.05 |
2.80 |
3.11 |
Table 2: Summary of composite results reported in this press release for
Note that the host structures are interpreted to be moderately dipping and true widths are generally estimated to be 170% to 95%, 240% to 70%, and 310% to 40% of reported intervals. 4True widths are unknown at this time. Infill veining in secondary structures with multiple orientations crosscutting the primary host structures are commonly observed in drill core which could result in additional uncertainty in true width. Composite intervals reported carry a minimum weighted average of 1 g/t Au diluted over a minimum core length of 2m with a maximum of 4m consecutive dilution when above 200m vertical depth and 2m consecutive dilution when below 200m vertical depth. Included high-grade intercepts are reported as any consecutive interval with grades greater than 10 g/t Au. Grades have not been capped in the averaging and intervals are reported as drill thickness.
Hole No. |
Azimuth (°) |
Dip (°) |
Length (m) |
UTM E |
UTM N |
Prospect |
NFGC-22-803 |
40 |
-45 |
243 |
657632 |
5427451 |
Cokes |
NFGC-22-819 |
300 |
-45 |
123 |
657786 |
5427497 |
Cokes |
NFGC-22-849 |
58 |
-61 |
237 |
657559 |
5427459 |
Cokes |
NFGC-22-857 |
350 |
-67 |
192 |
657558 |
5427459 |
Cokes |
NFGC-22-964 |
24 |
-45 |
203 |
657645 |
5427593 |
Cokes |
NFGC-23-1116 |
20 |
-45 |
179 |
657496 |
5427557 |
Cokes |
NFGC-23-1125 |
80 |
-45 |
227 |
657498 |
5427558 |
Cokes |
NFGC-23-1133 |
20 |
-45 |
149 |
657470 |
5427633 |
Cokes |
NFGC-23-1142 |
20 |
-45 |
296 |
657565 |
5427585 |
Cokes |
NFGC-23-1144 |
58 |
-52 |
143 |
658006 |
5427991 |
|
NFGC-23-1153 |
20 |
-45 |
185 |
657428 |
5427660 |
Cokes |
NFGC-23-1449 |
345 |
-60 |
248 |
657568 |
5427724 |
Cokes |
NFGC-23-1463 |
75 |
-45 |
251 |
657571 |
5427720 |
Cokes |
NFGC-23-1478 |
75 |
-45 |
251 |
657641 |
5427797 |
Cokes |
NFGC-23-1506 |
345 |
-60 |
257 |
657640 |
5427799 |
Cokes |
NFGC-23-1521 |
75 |
-45 |
251 |
657706 |
5427645 |
Cokes |
NFGC-23-1534 |
345 |
-60 |
248 |
657669 |
5427897 |
Cokes |
NFGC-23-1554 |
75 |
-45 |
248 |
657670 |
5427897 |
Cokes |
NFGC-23-1563 |
345 |
-60 |
260 |
657814 |
5427712 |
Cokes |
NFGC-23-1576 |
345 |
-60 |
251 |
657889 |
5427612 |
Cokes |
NFGC-23-1592 |
13 |
-45 |
47 |
657817 |
5427522 |
Cokes |
NFGC-23-1596 |
335 |
-45 |
89 |
657705 |
5427646 |
Cokes |
NFGC-23-1603 |
180 |
-82 |
119 |
657705 |
5427644 |
Cokes |
NFGC-23-1609 |
120 |
-49 |
200 |
657706 |
5427643 |
Cokes |
NFGC-23-1708 |
55 |
-55 |
86 |
658098 |
5428023 |
|
NFGC-23-1713 |
352 |
-50 |
92 |
658080 |
5428016 |
|
NFGC-23-1718 |
5 |
-45 |
95 |
658063 |
5428036 |
|
NFGC-23-1741 |
45 |
-47.5 |
104 |
658067 |
5427983 |
|
NFGC-23-1745 |
65 |
-67 |
71 |
657905 |
5428067 |
|
NFGC-23-1751 |
65 |
-67 |
68 |
657861 |
5428087 |
|
NFGC-23-1755 |
65 |
-50 |
87 |
657861 |
5428087 |
|
NFGC-23-1758 |
220 |
-45 |
73 |
657860 |
5428087 |
|
NFGC-23-1765 |
65 |
-67 |
68 |
657879 |
5428036 |
|
NFGC-23-1835 |
335 |
-45 |
105 |
657773 |
5427570 |
Cokes |
NFGC-23-1842 |
335 |
-45 |
138 |
657695 |
5427556 |
Cokes |
NFGC-23-1846 |
75 |
-50 |
138 |
657735 |
5427672 |
Cokes |
NFGC-23-1852 |
335 |
-45 |
87 |
657734 |
5427674 |
Cokes |
NFGC-23-1858 |
45 |
-45 |
75 |
657776 |
5427695 |
Cokes |
NFGC-23-1860 |
335 |
-45 |
87 |
657757 |
5427708 |
Cokes |
NFGC-23-1864 |
335 |
-45 |
69 |
657701 |
5427697 |
Cokes |
NFGC-23-1870 |
334 |
-45 |
95 |
657792 |
5427603 |
Cokes |
NFGC-23-1874 |
51 |
-45.5 |
167 |
657788 |
5427498 |
Cokes |
NFGC-23-1885 |
3 |
-70.5 |
113 |
657792 |
5427603 |
Cokes |
NFGC-23-1891 |
37 |
-69 |
143 |
657772 |
5427571 |
Cokes |
NFGC-24-2008 |
12 |
-69 |
137 |
657787 |
5427497 |
Cokes |
NFGC-24-2025 |
335 |
-46 |
77 |
657673 |
5427673 |
Cokes |
Table 3: Details of drill holes reported in this press release
Queensway 650,000m Drill Program Update
The Company is currently undertaking a 650,000m drill program at Queensway and approximately 2,100m of core is currently pending assay results.
Sampling, Sub-sampling, and Laboratory
All drilling recovers HQ core. Drill core is split in half using a diamond saw or a hydraulic splitter for rare intersections with incompetent core.
A geologist examines the drill core and marks out the intervals to be sampled and the cutting line. Sample lengths are mostly 1.0 meter and adjusted to respect lithological and/or mineralogical contacts and isolate narrow (<1.0m) veins or other structures that may yield higher grades.
Technicians saw the core along the defined cutting line. One-half of the core is kept as a witness sample and the other half is submitted for analysis. Individual sample bags are sealed and placed into totes, which are then sealed and marked with the contents.
New Found has submitted samples for gold determination by fire assay to
Drill core samples are shipped to ALS for sample preparation in
Drill core samples are also submitted to MSA in Val-d’Or,
At ALS, the entire sample is crushed to approximately 70% passing 2mm. A 3,000-g split is pulverized. “Routine” samples do not have visible gold (VG) identified and are not within a mineralized zone. Routine samples are assayed for gold by 30-g fire assay with an inductively-couple plasma spectrometry (ICP) finish. If the initial 30-g fire assay gold result is over 1 g/t, the remainder of the 3,000-g split is screened at 106 microns for screened metallics assay. For the screened metallics assay, the entire coarse fraction (sized greater than 106 microns) is fire assayed and two splits of the fine fraction (sized less than 106 microns) are fire assayed. The three assays are combined on a weight-averaged basis. Samples that have VG identified or fall within a mineralized interval are automatically submitted for screened metallic assay for gold.
At MSA, the entire sample is crushed to approximately 70% passing 2mm. For “routine” samples that do not have VG identified and are not within a mineralized zone, the samples are riffle split to fill one 450g jar for photon assay. If the jar assays greater than 1 g/t, the remaining crushed material is weighed into multiple jars and are submitted for photon assay.
For samples that have VG identified or are within a mineralized zone, the entire crushed sample is weighed into multiple jars and are submitted for photon assay. The assays from all jars are combined on a weight-averaged basis.
All samples prepared at ALS or MSA are also analyzed for a multi-element ICP package (ALS method code ME-ICP61) at ALS Vancouver.
Drill program design, Quality Assurance/Quality Control and interpretation of results are performed by qualified persons employing a rigorous Quality Assurance/Quality Control program consistent with industry best practices. Standards and blanks account for a minimum of 10% of the samples in addition to the laboratory’s internal quality assurance programs.
Quality Control data are evaluated on receipt from the laboratories for failures. Appropriate action is taken if assay results for standards and blanks fall outside allowed tolerances. All results stated have passed New Found’s quality control protocols.
New Found’s quality control program also includes submission of the second half of the core for approximately 2% of the drilled intervals. In addition, approximately 1% of sample pulps for mineralized samples are submitted for re-analysis to a second ISO-accredited laboratory for check assays.
The Company does not recognize any factors of drilling, sampling or recovery that could materially affect the accuracy or reliability of the assay data disclosed.
The assay data disclosed in this press release have been verified by the Company’s Qualified Person against the original assay certificates.
The Company notes that it has not completed any economic evaluations of its
Qualified Person
The scientific and technical information disclosed in this press release was reviewed and approved by
About
New Found holds a 100% interest in the
Please see the Company’s website at www.newfoundgold.ca and the Company’s SEDAR+ profile at www.sedarplus.ca.
Acknowledgements
New Found acknowledges the financial support of the
Contact
To contact the Company, please visit the Company’s website, www.newfoundgold.ca and make your request through our investor inquiry form. Our management has a pledge to be in touch with any investor inquiries within 24 hours.
Neither the
Forward-Looking Statement Cautions
This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, relating to exploration, drilling and mineralization on the Company’s Queensway gold project in
View source version on businesswire.com: https://www.businesswire.com/news/home/20240222149872/en/
Per: “Collin Kettell”
Email: ckettell@newfoundgold.ca
Phone: +1 (845) 535-1486
Source: