The new intercept is located up the sloping formation from two holes the company reported in September: NFGC-22-681 cut 4.2 metres grading 17.9 grams gold per tonne 200 metres away; and NFGC-22-686 returned 10.5 metres grading 10.4 grams gold, 150 metres from the new hole.
“Today’s results affirm the significance of the Keats West discovery and indicate that drilling has locked onto a new structure with proven potential,” Melissa Render, New Found vice president of exploration, said in the release. “The degree of faulting, veining and pairing of both low and high-grade gold mineralization gives us great enthusiasm.”
The lower-grade mineralization in the Keats West structure includes several holes grading from 1.3 to 3.4 grams gold over an interval of about 50 metres and ranging in cumulative width from 18 to 30 metres, the company said.
New Found is one of the main companies along with Labrador Gold (TSXV: LAB) and…
