“It is a lot of ground to cover but from a first pass of drilling, results indicate that the system’s strength continues,” Melissa Render, vice-president for exploration, said in the release. “We will persist with aggressive follow-up drilling which involves tracing the structures that are known to host high-grade gold.”
The 1,650-sq.-km. project covers more than 100 km of strike on two primary fault zones: Appleton and Joe Bates Pond.
Trans Canada Highway is in the footwall to the Appleton fault zone and has been intersected over a strike of 190 metres to a depth of 300 metres, New Found said.
Assays from the Trans Canada Highway zone included intercepts of 79.6 grams gold per tonne over 2 metres from 427.1 metres down hole NFGC-22-863; 10.5 grams gold over 2.45 metres from 303.5 metres in hole NFGC-22-642; and 1.02 grams gold over 10.7 metres from 183 metres down hole NFGC-22-703.
The Vancouver-based company found the new…
