- New Found Gold (NFG) reports positive news from the results of its latest exploration program on the company’s Queensway Project in Newfoundland
- Results stem from a Chrysos PhotonAssay on the project’s Keats Main Zone, in addition to assay data from 14 now-completed diamond drill holes
- Moving forward, the company will use the photon assay method, as well as traditional fire assay and screen fire methods
- The Vancouver-based mineral exploration company intersected high-grade intervals up to 85.7 grams per tonne of gold over 5.65 metres
- New Found Gold is up 2.71 percent, trading at $4.93 at 11:30 am ET
New Found Gold (NFG) reports positive news from the results of its latest exploration program on the company’s Queensway Project in Newfoundland.
Results stem from a Chrysos PhotonAssay on the project’s Keats Main Zone, in addition to assay data from 14 now-completed diamond drill holes.
Drill holes were designed to test the extent of the Keats Main Zone.
That zone is located along the highly prospective Appleton Fault Zone.
The Vancouver-based mineral exploration company intersected high-grade intervals up to 85.7 grams per tonne of gold over 5.65 metres and 13.4 grams per tonne over 9.05 metres.
Moving forward, the company will use the photon assay method, as well as traditional fire assay and screen fire determination, to ensure the most efficient turnaround times on assays.
The ongoing quality control program will include analysis of some samples by both methods to monitor accuracy.
“Today’s results are impressive and continue to outline high-grade gold mineralization that can be found in multiple orientations at Keats. We are also excited to debut the use of the Chrysos PhotonAssay method following several months of testwork, clearing the way for New Found to begin shipping a steady flow of material to MSALABS for assaying. The photon assay method is efficient, non-destructive, cost-effective, and environmentally friendly. These are important attributes that we strive to incorporate into all aspects of exploration at New Found Gold. We are excited to partner with Chrysos and MSALABS to apply this technology at Queensway,” said VP of Exploration Melissa Render.
The 100-percent-owned Queensway Project covers 1,650 square kilometres accessible via the highway.
New Found Gold is up 2.71 percent, trading at $4.93 at 11:30 am ET.
