New Found Gold Corp. (TSXV: NFG) has obtained positive results from 13 diamond drill holes that were completed as part of a follow-up drill programme at the new Iceberg discovery in Newfoundland and Labrador.
Iceberg is a high-grade zone located 300m northeast of Keats Main along the highly prospective Appleton Fault Zone (AFZ) in New Found’s 100%-owned Queensway project.
A 375m step-out east-northeast of the recently discovered Iceberg Zone intercepted 21.7 g/t Au over 4.45m in NFGC-23-1285 just 54m from surface. This eastern extension located along the Keats-Baseline Fault Zone (KBFZ) is named “Iceberg East” and is interpreted to connect to Iceberg.
NFGC-23-1285 is located 500m east of the Appleton Fault Zone (AFZ) making it the easternmost, highest-grading hole ever drilled along the AFZ, significantly expanding the known extent of mineralization that can be found along the AFZ “damage zone.”
- A 110m step-out west-southwest of the Iceberg Zone intercepted 19.6 g/t Au over 5.25m in NFGC-23-1217 at a vertical depth of 137m, making it the deepest high-grade intercept into the Iceberg Zone to date. Together with hole NFGC-23-1285, the Iceberg-Iceberg East zone is now drill-defined over a 550m strike length, representing a ten-fold increase compared to the previously known extent of mineralization.
- A 50m step down-dip of the previously reported interval of 15.3 g/t Au over 10.75m in NFGC-22-1084 at Iceberg intercepted 12.4 g/t Au over 6.60m in NFGC-23-1222, demonstrating strong continuity of high-grade.
- The Iceberg Zone is defined by several high-grade intervals such as 49.7 g/t Au over 29.85m in NFGC-23-1120 (March 13, 2023), 72.2 g/t Au over 9.65m in NFGC-23-1100 (March 1, 2023), and 35.6 g/t Au over 10.65m in NFGC-23-1141that are hosted by the KBFZ, the same structure that hosts the Keats Main Zone. Between Iceberg and Keats, the KBFZ now has a defined mineralized strike length of 1.8km.
- Iceberg and Iceberg East remain open in all directions and drilling is ongoing to expand along strike and to depth with several intervals currently pending assay results.
“In the early days of the Queensway discovery at Keats Main, we took a very methodical approach to exploration, utilizing small step-outs to track mineralization and fully understand the structure along the Keats-Baseline Fault Zone (KBFZ),” COO, Greg Matheson, said.
“At Iceberg, the perceived fault-displaced eastern extension of Keats Main located along the KBFZ, we have taken a decidedly different approach, implementing more aggressive step-outs with the goal of more quickly grasping the scale of structure and mineralization. We now know Iceberg has a defined strike length of 550m. This is within the overall Keats-Iceberg KBFZ corridor that has a defined strike length of over 1.8km, where it remains open.”
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