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New Found drills 3,742 gram-meter gold interval at Keats

Admin
May 22, 2021 Precious Metals News Comments Off on New Found drills 3,742 gram-meter gold interval at Keats


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(Wallace Refiners) – New Found Gold (TSXV: NFG, OTC: NFGFF) today announced high-grade assay results from an additional four holes drilled at the Keats Zone at its 100%-owned Queensway project, located on the Trans-Canada Highway 15km west of Gander, Newfoundland.


The company said it intercepted an interval of 146.2 g/t Au over 25.6m (3,742 gram-meter) in NFGC-21-182, which is the deepest assay interval returned to date at Keats.


The company noted that high-grade zone at Keats has now been drill defined over 425m in the down-plunge direction. The zone remains open and step-out drilling is continuing to the south, vertically above and below this zone, and to the north.


President Denis Laviolette commented, “The interval of 146.2g/t over 25.6m in hole NFGC-21-182 has a grade x width of over 3,700 g/t Au x m, the highest to date on this metric at Keats, benchmarked against a long list of outstanding holes. Very significantly, as a step out 65m down plunge and as the furthest down-plunge hole and the deepest assay interval returned to date at Keats, this hole demonstrates that the outstanding zone of high-grade gold at Keats is continuing and perhaps strengthening with depth.”


“We couldn’t be more excited to be continuing to intercept such a phenomenal interval on such a large step-out down plunge at Keats and this continues to build our confidence that Keats is a very significant high-grade gold discovery,” added Laviolette.


The company is currently undertaking a 200,000m drill program at Queensway.  Seven rigs are currently in operation at Queensway with the drill count planned to increase to ten rigs by Q2 2021. With a current working capital balance of approximately $79 million, New Found said it is well funded for this program.



Disclaimer: The views expressed in this article are those of the author and may not reflect those of Wallace Precious Metals The author has made every effort to ensure accuracy of information provided; however, neither Wallace Precious Metals nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Wallace Precious Metals and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.



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