Step-Out Extends High-Grade Zone To 530m
New Found Gold Corp. has received further high-grade assay results from 11 holes drilled at the Keats Zone, located along the Appleton Fault Zone.
These holes were completed as part of the company’s ongoing 200,000m diamond drill programme at its 100% owned Queensway Project, located on the Trans-Canada Highway 15 km west of Gander, Newfoundland.
COO, Greg Matheson, said the Keats Main Zone now extends 530m down-plunge, an increase of 65m from the previously reported distance of 465m defined by the furthest intercept to date in NFGC-21-360 grading 61.50 g/t Au over 5.20m.
He said intercepts of 17.59 g/t Au over 6.50m in NFGC-21-312 as well as 63.92 g/t Au over 3.25m and 9.10 g/t Au over 6.25m in NFGC-21-351 continue to demonstrate the high-grade up-dip continuity with robust widths above the core dilatational zone towards surface.
Starting at surface the multiple high-grade zones at Keats now cover an overall footprint of approximately 250m in width x 490m along strike x 307m vertical depth and are open in all directions.
“The high-grade continuity over a distance of 530m in a down-plunge direction is impressive but what’s truly encouraging is seeing this continuity continue above the core dilatational zone up-dip towards surface adding significant volume to the high-grade mineralisation,” Mr Matheson said.
“In addition, the recently announced results from NFGC-21-238 yielding 88.53 g/t Au over 3.35m in the Keats Footwall has presented multiple exploration fronts as we continue to see the footprint of Keats expand in all directions.
“All of our drills at Keats and along the Appleton Fault are currently focused on expansion of these high-grade gold systems.”
The Keats Main Zone is hosted within a faulted domain, the Keats-Baseline Fault, that contains a network of quartz veins that strike to the east-northeast and dip moderately to the southeast at approximately 55°.
The massive high-grade gold bearing quartz veins within this structural corridor are dominantly parallel to the orientation of the Keats host structure and drill hole structural data suggests some areas contain high-grade stockwork and spur type veins with a variety of orientations.
Continued step-out drilling will work to expand mineralisation south and up-dip of the core dilatational zone within the Keats Main Zone.
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