New Found Gold Corp.’s (TSXV: NFG) ongoing 500,000m drill programme has led to the discovery of three new gold zones – “Monte Carlo”, “K2” and “Everest”, in turn extending known mineralization along the AFZ to over 4.1km in strike length, at the district-scale Queensway Project in Newfoundland and Labrador.
40 diamond drill holes that were completed as part of a drill programme designed to expand on known zones and test new target areas along the northern segment of the highly prospective Appleton Fault Zone (AFZ).
These three new discoveries add to the growing list of zones that make up the “AFZ Mineralized Envelope” that now includes Keats, Keats North, Cokes, Iceberg, Keats West, Road, Golden Joint, Dome, Lotto, Monte Carlo, Lotto North, Zone 36, K2, and Everest.
While significant untested gaps still exist within the AFZ Mineralized Envelope, this 4.1km long mineralized strike area averages 400m in width (200m on each side of the AFZ), and in certain places extends a full 500m from the fault. Beyond this point is nearly completely untested, while the average vertical depth of all holes drilled in this 4.1km x 400m area is just 140m.
Monte Carlo Highlights:
At Monte Carlo, the intervals of 12.3g/t Au over 8.05m in NFGC-23-1151 and 13.0g/t Au over 4.75m in NFGC-23-1145 are hosted by an east-west striking brittle fault zone that is associated with continuous quartz veining and gold mineralization over a current strike length of 150m. The company’s current interpretation connects this gold-bearing structure over a strike length of 450m; additional infill drilling is required to confirm this model.
Monte Carlo occurs adjacent to Lotto but on the west side of the AFZ and has features similar to both Lotto and Golden Joint. Exploration has been largely focused in the top 100m, several assays are pending, and mineralization is open in all directions.
K2 Highlights:
At K2, initial highlight intervals of 28.6g/t Au over 2.00m in NFGC-22-902, 11.2g/t Au over 4.25m in NFGC-22-959, 8.91g/t Au over 4.70m in NFGC-22-827, 3.00g/t Au over 11.00m in NFGC-22-898, 1.88g/t Au over 14.75m in NFGC-22-892 and 1.44g/t Au over 18.80m in NFGC-22-986 are controlled by the K2 fault, located 725m north of Lotto on the west side of the AFZ adjacent to Zone 36. K2 represents a significant structural zone with similarities to the Keats Baseline Fault Zone (KBFZ) including a similar orientation and consisting of a complex network of stockwork-style gold-bearing quartz veins that occur within a broad domain of brittle faulting.
Although at an early stage of interpretation and with several assays pending, mineralization associated with the K2 structure has already been traced over a strike length of 395m and to a maximum vertical depth of 250m. It remains open in all directions.
K2 and Monte Carlo were discovered as part of the company’s targeted drilling efforts with the exploration team identifying these KBFZ-oriented structures through a lineament study.
Everest Highlights:
Systematic grid drilling working on the east side of the AFZ tagged into a new zone of veining grading 36.7g/t Au over 3.70m in NFGC-22-888 and 28.7g/t Au over 2.30m in NFGC-22-930. This zone is named “Everest” and is located 1.5km northeast of Lotto. Mineralization is spatially associated with a shear zone and is within close proximity to the AFZ.
Lotto North & Dome Highlights:
Additional results have been received at Lotto North, confirming the continuity of the high-grade gold mineralization and bringing it to the surface with highlight intervals of 11.1g/t Au over 3.55m in NFGC-22-940 and 21.1g/t Au over 2.15m in NFGC-22-953. The high-grade hit in NFGC-22-895 of 7.20g/t Au over 4.55m extends mineralization down dip to 200m vertical depth. Lotto-Lotto North has a combined strike length of 630m.
At Dome, drilling targeting the hanging wall of the AFZ, between Golden Joint and Dome intersected a high-grade segment of the Dome structure returning 21.1g/t Au over 7.65m in NFGC-22-844. The Dome structure remains open at depth and has been traced over 350m where it is interpreted to interact with Golden Joint before terminating at the AFZ.
“Since our discovery hole in 2019, exploration efforts have led to the definition of 14 distinct gold zones situated along a 4.1km long segment of the AFZ. Some of these zones are host to truly exceptional holes like those recently released at Iceberg and Keats West – intercepts that shine a spotlight on the extraordinary concentrations of gold that can be found at Queensway. Today’s discovery of three new gold zones highlights another unique facet of the Queensway Project – its size,” VP of Exploration, Melissa Render, said.
“Today we can stand back and look at an area measuring 4.1km x 400m that is host to numerous zones. These zones can differ in their structural orientations and gold grades and thicknesses. Yet, in aggregate, they tell a story of an emerging district that focuses around the AFZ Target Envelope at its core.
“More drilling will undoubtedly connect more dots and help to paint a fuller picture; the ongoing seismic program will allow us to target deeper, and drilling at the parallel JBP, Queensway South, and north at our VOA Option will guide the district-scale potential of Queensway.”
For further information please visit: https://newfoundgold.ca/
