Unveiling Newfoundland’s Golden Potential: A Deep Dive into New Found Gold’s Groundbreaking Discoveries New Found Gold Corp.

L Lykeshares 2y Staff

Unveiling Newfoundland’s Golden Potential: A Deep Dive into New Found Gold’s Groundbreaking Discoveries

New Found Gold Corp. Unveils Promising Gold Intercepts in Keats West Zone: A Game-Changer for Newfoundland and Labrador

VANCOUVER, BC, Dec. 6, 2023 – New Found Gold Corp. (TSX-V: NFG, NYSE-A: NFGC), a prominent exploration company, has released remarkable drilling results from 16 diamond drill holes, part of a strategic exploration initiative targeting the Keats West Zone. This zone, located on the west side of the highly prospective Appleton Fault Zone within New Found’s 100%-owned Queensway project, has showcased impressive gold mineralization potential.

Groundbreaking Keats West Discoveries

The recent drilling campaign has brought to light some exceptional results:

High-Grade Intercepts: Notably, hole NFGC-22-990 intercepted 42. 8 g/t Au over 11.

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60 meters, situated 27 meters from the previously reported high-grade interval of 42. 6 g/t Au over 32. 00 meters (November 28, 2022). These results significantly bolster the definition of the high-grade Keats West fault segments.

Extensive Gold Mineralization: Hole NFGC-22-1028 reported 2. 47 g/t Au over 27. 85 meters, alongside 1. 39 g/t Au over 21. 30 meters and an astounding 66. 0 g/t Au over 2. 70 meters, positioned 275 meters down-dip from prior drilling. These intervals collectively delineate a substantial gold mineralized panel over 50 meters wide and affirm the presence of an uplifted panel of the Keats West Fault.

Expansive Nature of Keats West Zone

The Keats West Zone boasts an impressive footprint, stretching 305 meters long by 315 meters wide. All intercepts thus far have been discovered above 130 meters vertical depth. The cumulative average thickness of this zone stands at an impressive 30 meters.

Exploration Insights and Future Prospects

Melissa Render, VP of Exploration at New Found Gold Corp. , emphasized the program’s objective to expand and refine the near-surface section of Keats West. The drilling has been instrumental in identifying mineralization starting at the surface, facilitated by the zone’s low-angle orientation. True widths of mineralization at Keats West vary from 10 meters to over 50 meters, comprising multiple domains of high-grade gold mineralization.

Render commented, "Today’s results provide us with additional confidence in the strong continuity of gold mineralization across the Keats West Fault. The discoveries made to date underscore the vast potential of this zone. "

The Technical Details and Robust Quality Control Measures

The assay results have been meticulously obtained, employing advanced technical methodologies:

Sampling Protocol: The drill core is split, examined, and sampled meticulously to ensure accuracy and reliability. Sampling lengths are adjusted based on lithological and mineralogical contacts, isolating higher-grade structures.

Laboratory Processes: New Found Gold Corp. submits samples to ALS Canada Ltd. and MSALABS for gold determination, adhering to ISO-17025 accreditation standards.

Quality Assurance: A stringent Quality Assurance/Quality Control (QA/QC) program is consistently implemented throughout the drilling program. Standards and blanks account for a minimum of 10% of the samples in addition to the laboratory’s internal QA programs.

Future Exploration and Economic Evaluations

It's important to note that while these results indicate significant mineralization potential, New Found Gold Corp. has not completed any economic evaluations of its Queensway Project and has not identified any resources or reserves.

The company's ongoing 500,000-meter drill program at Queensway, with approximately 23,000 meters of core pending assay results, highlights their commitment to further exploration and discoveries in Newfoundland and Labrador.

New Found Gold Corp. 's steadfast focus on rigorous exploration methodologies and unwavering quality control measures positions them at the forefront of innovative gold exploration, offering substantial potential for future developments in the region.

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