New Found Gold Corp. (“New Found” or the
“Company”) (TSX-V: NFG, NYSE-A: NFGC) is pleased to announce
the results from 16 diamond drill holes that were completed as part
of a drill program designed to test the newly discovered Keats West
zone, a low-angle thrust fault that dips gently to the
south-southwest and is located on the west side of the highly
prospective Appleton Fault Zone (“AFZ”). New Found’s 100%-owned
Queensway project comprises a 1,662km2 area, accessible via the
Trans-Canada Highway, 15km west of Gander, Newfoundland and
Labrador.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20230817271779/en/
Figure 1: Photos of mineralization from
NFGC-23-1149 at ~58m. ^Note that these photos are not intended to
be representative of gold mineralization in NFGC-23-1149. (Photo:
Business Wire)
Keats West Highlights:
Hole No.
From (m)
To (m)
Interval (m)
Au (g/t)
Zone
NFGC-22-10431
7.20
26.60
19.40
2.49
Keats W
NFGC-23-11102
19.65
31.00
11.35
3.23
NFGC-23-11491
31.25
43.30
12.05
1.06
Keats W
And1
56.10
86.15
30.05
5.81
Including
56.10
56.85
0.75
23.94
Including
57.90
58.25
0.35
102.04
Including
61.80
63.30
1.50
19.29
Including
80.70
81.65
0.95
31.58
NFGC-23-11841
44.40
54.85
10.45
7.01
Keats W
Including
46.00
48.20
2.20
14.85
Including
49.85
50.95
1.10
19.16
Table 1: Keats West Drilling
Highlights
Note host structures are interpreted to be shallowly dipping and
true widths are generally estimated to be 170% to 95% and 240% to
70% of reported intervals. 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.
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.
- 5.81 g/t Au over 30.05m in NFGC-23-1149 occurs just
60m below surface and is 110m down-dip of previously
reported 18.9 g/t Au over 15.95m in NFGC-22-773 (November 23, 2022)
at Keats West. This interval is interpreted to be close to true
width and adds to the growing list of broad intervals of gold
mineralization at Keats West.
- 7.01 g/t Au over 10.45m in NFGC-23-1184 was intersected
a further 130m down-dip from NFGC-23-1149. 2.49 g/t Au over
19.40m in NFGC-22-1043 and 3.23 g/t Au over 11.35m in
NFGC-23-1110 occur in the westernmost panel of the Keats West
structure, an area where gold mineralization is located at
surface covered by minimal overburden. Several intercepts from
this western panel are pending.
- Keats West has a known 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.
Melissa Render, VP of Exploration of New Found, stated: “Keats
West remains a pivotal discovery for New Found, not only because it
was the first major discovery located on the west side of the AFZ
but its close spatial relation to the Keats and Iceberg zones tells
us that there is something special about this segment of the AFZ.
One area of strong exploration potential lies deeper within this
domain surrounding Keats, Iceberg and Keats West. Combining our
current knowledge of these zones with the upcoming results of the
seismic survey has the potential to quickly grow the known extents
of mineralization along the AFZ and our team is eager to pursue
it.”
Drillhole Details
Hole No.
From (m)
To (m)
Interval (m)1
Au (g/t)
Zone
NFGC-22-10371
6.45
10.00
3.55
2.44
Keats W
And1
14.45
19.50
5.05
1.44
And1
40.00
47.40
7.40
1.44
NFGC-22-10431
7.20
26.60
19.40
2.49
Keats W
And1
51.00
53.40
2.40
1.42
NFGC-22-10492
16.70
20.20
3.50
1.07
Keats W
NFGC-22-1076
No Significant Values
Keats W
NFGC-23-1097
No Significant Values
Keats W
NFGC-23-11102
19.65
31.00
11.35
3.23
Keats W
NFGC-23-1118
No Significant Values
Keats W
NFGC-23-11313
93.00
95.85
2.85
1.93
Keats W
NFGC-23-1138
No Significant Values
Keats W
NFGC-23-11391
67.65
70.55
2.90
1.45
Keats W
NFGC-23-11491
13.55
16.00
2.45
1.42
Keats W
And1
31.25
43.30
12.05
1.06
And1
56.10
86.15
30.05
5.81
Including
56.10
56.85
0.75
23.94
Including
57.90
58.25
0.35
102.04
Including
61.80
63.30
1.50
19.29
Including
80.70
81.65
0.95
31.58
NFGC-23-11841
44.40
54.85
10.45
7.01
Keats W
Including
46.00
48.20
2.20
14.85
Including
49.85
50.95
1.10
19.16
And1
62.75
69.20
6.45
1.09
NFGC-23-12041
9.20
11.20
2.00
1.27
Keats W
And1
33.00
37.25
4.25
1.27
And1
44.65
47.20
2.55
1.19
And2
62.90
65.30
2.40
1.44
NFGC-23-1459
No Significant Values
Keats W
NFGC-23-1472
No Significant Values
Keats W
NFGC-23-1495
No Significant Values
Keats W
Table 2: Summary of composite results
reported in this press release for Keats West
Note host structures are interpreted to be shallowly dipping and
true widths are generally estimated to be 170% to 95%, 240% to 70%
and 310% to 40% of reported intervals. 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. 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-22-1037
30
-82
144
657869
5428067
Keats West
NFGC-22-1043
15
-65
84
657871
5428010
Keats West
NFGC-22-1049
115
-45
69
657907
5427989
Keats West
NFGC-22-1076
0
-60
90
657833
5427917
Keats West
NFGC-23-1097
46
-52
245
657946
5427765
Keats West
NFGC-23-1110
120
-45
176
657873
5428009
Keats West
NFGC-23-1118
67
-53
212
657906
5427818
Keats West
NFGC-23-1131
20
-45
110
657827
5428093
Keats West
NFGC-23-1138
348
-74
20
657989
5427885
Keats West
NFGC-23-1139
15
-65
116
657901
5427936
Keats West
NFGC-23-1149
27
-65
115
658004
5427991
Keats West
NFGC-23-1184
31
-45
173
657952
5427849
Keats West
NFGC-23-1204
40
-60
143
657955
5427904
Keats West
NFGC-23-1459
345
-60
251
657810
5427935
Keats West
NFGC-23-1472
75
-45
269
657813
5427934
Keats West
NFGC-23-1495
75
-45
269
657674
5428009
Keats West
Table 3: Details of drill holes reported in
this press release
Queensway 500,000m Drill Program Update
The Company is currently undertaking a 500,000m drill program at
Queensway and approximately 42,900m of core is currently pending
assay results.
Sampling, Sub-sampling, and Laboratory
Assays are uncut, and composite intervals are calculated using a
minimum weighted average of 1 g/t Au diluted over a minimum core
length of 2m with a maximum of 4m consecutive dilution. Included
high-grade intercepts are reported as any consecutive interval with
grades greater than 10 g/t Au.
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
metre 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 ALS Canada Ltd. (“ALS”) and by photon assay to MSALABS
(“MSA”) since June 2022. ALS and MSA operate under a commercial
contract with New Found.
Drill core samples are shipped to ALS for sample preparation in
Sudbury, Ontario, Thunder Bay, Ontario, or Moncton, New Brunswick.
ALS is an ISO-17025 accredited laboratory for the fire assay
method.
Drill core samples are also submitted to MSA in Val-d’Or,
Quebec. MSA operates numerous laboratories worldwide and maintains
ISO-17025 accreditation for many metal determination methods.
Accreditation of the photon assay method at the MSA Val D’Or
laboratory is in progress.
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 two 450g jars for photon assay. The assays reported from
both jars are combined on a weight-averaged basis. If one of the
jars 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 5% 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 news 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 Queensway Project and that the Queensway Project
does not have any resources or reserves.
Qualified Person
The scientific and technical information 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
press release dated August 17, 2023, by New Found. Mr. Matheson
certifies that this press release fairly and accurately represents
the scientific and technical information that forms the basis for
this press release.
About New Found Gold Corp.
New Found holds a 100% interest in the Queensway Project,
located 15km west of Gander, Newfoundland and Labrador, and just
18km 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 500,000m drill program at
Queensway and is well funded for this program with cash and
marketable securities of approximately $47.5 million as of August
2023.
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 Junior
Exploration Assistance Program, Department of Natural Resources,
Government of Newfoundland and Labrador.
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 TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
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 Newfoundland and Labrador; assay results; the
interpretation of drilling and assay results, the results of the
drilling program, mineralization and the discovery of zones of
high-grade gold mineralization; plans for future exploration and
drilling and the timing of same; the merits of the Queensway
project; future press releases by the Company; and funding of the
drilling program. Although the Company believes that such
statements are reasonable, it can give no assurance that such
expectations will prove to be correct. Forward-looking statements
are statements that are not historical facts; they are generally,
but not always, identified by the words “expects”, “plans”,
“anticipates”, “believes”, “interpreted”, “intends”, “estimates”,
“projects”, “aims”, “suggests”, “indicate”, “often”, “target”,
“future”, “likely”, “pending”, “potential”, “goal”, “objective”,
“prospective”, “possibly”, “preliminary”, and similar expressions,
or that events or conditions “will”, “would”, “may”, “can”, “could”
or “should” occur, or are those statements, which, by their nature,
refer to future events. The Company cautions that forward-looking
statements are based on the beliefs, estimates and opinions of the
Company's management on the date the statements are made, and they
involve a number of risks and uncertainties. Consequently, there
can be no assurances that such statements will prove to be accurate
and actual results and future events could differ materially from
those anticipated in such statements. Except to the extent required
by applicable securities laws and the policies of the TSX Venture
Exchange, the Company undertakes no obligation to update these
forward-looking statements if management's beliefs, estimates or
opinions, or other factors, should change. Factors that could cause
future results to differ materially from those anticipated in these
forward-looking statements include risks associated with possible
accidents and other risks associated with mineral exploration
operations, the risk that the Company will encounter unanticipated
geological factors, risks associated with the interpretation of
assay results and the drilling program, the possibility that the
Company may not be able to secure permitting and other governmental
clearances necessary to carry out the Company's exploration plans,
the risk that the Company will not be able to raise sufficient
funds to carry out its business plans, and the risk of political
uncertainties and regulatory or legal changes that might interfere
with the Company's business and prospects. The reader is urged to
refer to the Company's Annual Information Form and Management’s
discussion and Analysis, publicly available at SEDAR+
(www.sedarplus.ca), the Canadian Securities Administrators'
national system that all market participants use for filings and
disclosure, for a more complete discussion of such risk factors and
their potential effects.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230817271779/en/
New Found Gold Corp. Per: “Collin Kettell” Collin Kettell, Chief
Executive Officer Email: ckettell@newfoundgold.ca Phone: +1 (845)
535-1486
National Fuel Gas (NYSE:NFG)
Gráfico Histórico do Ativo
De Mai 2024 até Jun 2024
National Fuel Gas (NYSE:NFG)
Gráfico Histórico do Ativo
De Jun 2023 até Jun 2024