New Found Gold Corp. Advances Drilling and Resource Assessment at Queensway Gold Project
- New Found Gold Corp. completed 22 drill holes at the Queensway Gold Project, confirming high-grade mineralization at Keats West.
- Notable drill intervals include 22 meters at 4.29 g/t gold and 15.55 meters at 7.08 g/t gold.
- The company is preparing a mineral resource estimate and a preliminary economic assessment for future project developments.
New Found Gold Corp. Advances Drilling at Queensway Gold Project
New Found Gold Corp. (TSXV: NFG) reports significant progress in its 2025 Work Program at the Queensway Gold Project, particularly within the Keats West Zone. The company has completed 22 diamond drill holes, totaling 2,691 meters, in Q2 2025. This drilling aims to confirm the continuity and high-grade gold mineralization present at Keats West while improving the resource classification. The results indicate that high-grade mineralization is accessible from surface levels down to a depth of 150 meters, underscoring the potential for both in-pit and near-pit expansion.
Among the notable drill results are impressive intervals, including 22 meters at 4.29 grams per tonne (g/t) gold and 15.55 meters at 7.08 g/t gold. These results not only highlight the quality of the mineralization but also reinforce New Found Gold's strategy of derisking high-priority open pits. The company focuses on infill drilling to target the higher-grade portions of the ore body, which is expected to enhance resource confidence and support the overall viability of the mining project. The ongoing drilling activities at Keats West are set to continue throughout the second half of 2025, with plans for expansion drilling and further infill efforts in various zones to gain a deeper understanding of the resource potential.
In addition to drilling advancements, New Found Gold is nearing the completion of channel sampling at the Iceberg excavation, with results anticipated soon. The company has also engaged SLR Consulting to prepare an initial mineral resource estimate (MRE), which was announced on March 24, 2025. The MRE will serve as a foundational element for the preliminary economic assessment (PEA), expected to be finalized by early Q3 2025. This PEA will deliver critical insights into the economic aspects of the Queensway Gold Project, paving the way for future developments and investment opportunities in the burgeoning Newfoundland gold sector.
As New Found Gold Corp. continues its strategic drilling and resource assessment efforts at the Queensway Gold Project, the company positions itself as a key player in the exploration and development of high-grade gold resources in Newfoundland and Labrador. The promising results from the Keats West Zone demonstrate the potential for substantial gold production, which could significantly impact the region's mining landscape in the coming years.