Canadian miner develops Newfoundland gold project

Photo: New Found Gold

Canadian miner New Found Gold has announced assay results from an additional four holes drilled at the Keats zone, part of the firm’s ongoing 200,000-metre diamond drill program at the Queensway project in Newfoundland, Canada.


Greg Matheson, the chief operating officer of New Found, said in a statement that the “intervals of 131.1 g/t Au over 4.65m plus 124.4 g/t over 17.7m in Hole NFGC-20-59 yield the highest width x grade of any hole to date at Keats (cumulative +2800 m*g/t).”


“These intervals provide further drill confirmation of the substantial zone of near surface high-grade gold mineralization at the north end of Keats. We continue our infill and step-out drilling at Keats and look forward to reporting further results in the near future,” he said.


Based in Canada’s Vancouver, the miner says it has a current work-ing capital balance of about C$74 million (US$61 million).