GET OFF THE FENCE AND GET READY: Top Canadian Gold Player With Rush-to-Press News!
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Not far from the Trans-Canada Highway sits the Central Newfoundland Gold Belt, a district-scale, exploration-ready land package with expansive strike-length potential. Initially explored and successfully drilled by Noranda in the 1980s and later drilled by Rubicon in the 2000s, the crown jewel of this historic region is known as the Queensway Project.
With superb infrastructure and accessibility (the highway cuts right across this project), the Queensway Project has already seen significant success in intersecting gold mineralization. Spanning an astonishing 151,030 hectares or 151 square kilometers, this project is now fully owned by premier Canadian junior miner New Found Gold (TSX-V: NFG, OTC: NFGFF).
It’s been an exciting time to watch the Queensway Project develop as New Found Gold aggressively pursues an ongoing 100,000-meter diamond drill program at the site. Less than a month ago, New Found Gold reported the preliminary results from the first four drill holes of 2020 at Queensway, with the initial step-out drilling at the Keats Zone demonstrating strong continuity of veining and high-grade gold mineralization.
Naturally, these initial results warranted further investigation on a rush basis, particularly at the highly promising Keats Zone at Queensway. All of this is being closely watched not only by the mining community and commodities experts, but also by significant New Found Gold shareholders, including Eric Sprott, Rob McEwen, Novo Resources, and Palisades Goldcorp.
Much to stakeholders’ delight, the most recent results indicate gold mineralization similar to what’s shown in the photo below:
According to a fresh press notification, drill hole NFGC-20-26 at the Keats Zone continues to provide better-than-anticipated results while New Found Gold’s team continues to explore drill hole NFGC-19-01 along with four other drill holes nearby.
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Here’s a summary of the highlights:
- An interval of drill core in Hole NFGC-20-26 displayed abundant quartz veining, sulfides, and visible gold. This interval was assayed (analyzed to determine its composition) on a rush basis, returning 44.5 grams per metric ton of gold over 6.85 meters within a longer interval of 11.8 grams per metric ton of gold over 29.15 meters, starting at 45 meters down-hole.
- Two additional holes have now been completed on fence line 4750N and intervals from those holes have been submitted for assay on a rush basis.
- The high-grade interval in NFGC-20-26 displays characteristics suggestive of an epizonal orogenic depositional environment (a high potential for abundant gold discovery).
- Near the NFGC-19-01 drill hole, New Found Gold reports ten holes additional to those already reported as now completed. Intervals from each of these holes have been submitted or are being prepared for submission for assay on a rush basis.
- In addition, four holes approximately 50 meters north of NFGC-19-01 have now been completed and intervals from these holes have also been submitted for assay on a rush basis.
They say that a picture says a thousand words, so I’ll let the map above do the talking here. As you can see, there are literally more than a dozen drill holes with results pending, meaning that more mineralization could be reported like we’re seeing at NFGC-20-26.
Where might they find the next mineral-rich vein? Denis Laviolette, President of New Found Gold, offers a hint: “Our recent hole at Lotto Zone 2 km north of Keats… has confirmed the potential for multiple high-grade zones along the 5km of the Appleton Fault Zone that will be grid drilled in our current 100,000m program.”
It won’t be long before the next news release comes from this ambitious player in the ripe-and-ready Canadian gold market, where discoveries are made and new wealth is built practically every day.
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