New Found Gold Corp. (“New Found” or the
“Company”) (TSX-V: NFG, NYSE-A: NFGC) is pleased to announce
the initiation of surface trenching at the Keats Zone at its
Queensway Project. 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/20230816767327/en/
Figure 1: Keats Trench plan view map
(Graphic: Business Wire)
Highlights:
- The Keats surface trenching program will focus on excavating
between 3-9 metres of overburden that covers the projection of the
Keats Main zone at the bedrock surface. This will expose 200m of
strike over a 70m wide area, roughly corresponding to the known
surface expression of the Keats Main zone (Figure 1).
- The trench will expose a window into the top of Keats that will
aid in validating the geological and structural models as well as
provide detailed insights into the geometry of Keats that can be
projected to depth and improve understanding of other zones such as
Iceberg.
- Excavation work is underway and it is estimated that the trench
will take 45 days to complete, followed by a detailed geological
mapping program that will extend for approximately one month.
- Keats Main starts 3m below surface at bedrock and has been
drill defined over 1.1km of strike and to a depth of 400m. The
shallow portion of Keats demonstrates robust grades over
significant thicknesses, a hallmark characteristic of the zone.
Previously released near surface highlight intervals from this area
include:
Hole No.
From (m)
To (m)
Interval (m)1
Au (g/t)
Zone
NFGC-20-372
9.00
19.30
10.30
25.00
Keats Main
NFGC-20-412
11.70
22.10
10.40
22.50
Keats Main
Including
13.00
16.70
3.70
58.90
NFGC-20-561
25.60
57.90
32.30
6.18
Keats Main
Including
25.60
31.00
5.40
15.70
NFGC-21-1201
9.65
21.70
12.05
12.65
Keats Main
Including
9.65
13.25
3.60
35.76
NFGC-22-5931
8.80
17.00
8.20
9.12
Keats Main
And1
20.50
32.25
11.75
42.59
Table 1: Keats Near Surface Drilling
Highlights
Note that the host structures are interpreted to be steeply
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 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. Full details of drill holes
previously released: NFGC-20-41 (see press release January 11,
2021); NFGC-20-37,56 (see press release February 11, 2021);
NFGC-21-120 (see press release July 6, 2021); NFGC-22-593 (see
press release June 6, 2022).
Greg Matheson, COO of New Found, stated: “The discovery of the
Keats zone in late 2019 was blind by nature of the fact that it
does not outcrop at surface but rather exists under a thin layer of
till cover. Subsequent drilling of the zone has allowed our team to
construct a very detailed 3-D geological and structural model that
will ultimately be used in studying potential development
scenarios. The ability to expose the bedrock where drilling has
outlined high-grade mineralization is just another one of the
unique characteristics of this discovery and one that we are happy
to be able to take advantage of in our quest to further de-risk the
accuracy of our models. Nothing compares to studying rocks at
surface.
“Our team plans to expose a sizable portion of the Keats Main
zone and some of the peripheral veins along nearly 200m of strike
length which should allow for the detailed mapping of its
structural geometry. This is another important milestone for the
Queensway Project and I very much look forward to seeing the Keats
zone in the light of day.”
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 16, 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.
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; the surface trenching
program, geological mapping program, and the timing, expected
results and benefits of each; the interpretation of exploration and
drilling results, the results of exploration and drilling programs,
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
exploration and drilling programs, 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/20230816767327/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 Abr 2024 até Mai 2024
National Fuel Gas (NYSE:NFG)
Gráfico Histórico do Ativo
De Mai 2023 até Mai 2024