New Found is advancing its 100% owned high-grade Queensway gold project, located on the Trans-Canada highway 15km west of Gander, Newfoundland. A 200,000m drill campaign is underway, focused on a 8km trend of the Appleton fault, and will soon expand to test additional targets along +100km of prospective strike on the 1,500km2 Queensway property.
Results to date at Appleton include 19m of 93 g/t Au at the Keats Zone, as well as 41.2 g/t Au over 4.75m and 25.4 g/t Au over 5.15m at the Lotto Zone. Recent work suggests that the high-grade gold at Queensway is epizonal similar to the high-grade Swan Zone at Kirkland Lake’s Fosterville mine in Australia, one of the highest-grade and lowest-cost producers globally. With approximately $75 million in working capital New Found is well funded to continue and expand its drilling program.
New Found Gold corp. set out to assemble a strong portfolio of exploration stage projects in safe mining friendly jurisdictions in North America. We have identified one core project in the famed Abitibi region of Ontario and our flagship project in the emerging mining district of Newfoundland, Canada.
Projects Overview