About New Found Gold Corp.
New Found Gold is advancing its 100% owned 1,662km2 Queensway gold project, located on the Trans-Canada highway 15km west of Gander, Newfoundland. To date, the Company has announced 18 zones of significant gold mineralization along the Appleton Fault Zone (AFZ). Recent discoveries add to the growing list of zones that make up the “AFZ Mineralized Envelope”. While untested gaps still exist within the envelope, this 4.1km long mineralized strike area averages 400m in width, and in some locations extends a full 500m from the fault.
The initial discovery hole was drilled in late 2019. NFGC-19-012 returned 19m of 92.9 g/t Au at the Keats Zone. The Lotto Zone was the second major discovery, located approximately 2km north of Keats, and provided a high-grade discovery hole of 41.2 g/t Au over 4.75m and 25.4 g/t Au over 5.15m (NFGC-20-172). In June 2021, New Found announced an interval of 430 g/t Au over 5.25m at the Golden Joint Zone (NFGC-21-2412), an area located between the Keats and Lotto Zones.
In September 2022, the Company discovered the first of several new high-grade gold zones located on the west side of the AFZ. Follow-up drilling at the Keats West Zone showed impressive gold intercepts including 42.6 g/t Au over 32.00m in NFGC-22-9603.
In March 2023, the announced discovery of the Iceberg Zone, located along the highly prolific Keats-Baseline Fault Zone (KBFZ). This is the same structure that hosts the Keats Main zone. Iceberg has provided significant intercepts including 105 g/t Au over 27.05m in NFGC-23-12101. The expanded Iceberg-Iceberg East segment is currently defined over a strike length of 665m, highlighting the continued strength of the gold system of the KFBZ.
Further north, three new zones were announced in May 2023. Monte Carlo, K2, and Everest extended the AFZ mineralized envelope to its current strike length of 4.1km. Monte Carlo occurs on the west side of the AFZ, adjacent to Lotto. Meanwhile, systematic grid drilling on the east side of the AFZ tagged into the Everest zone, with veins grading 36.7 g/t Au over 3.70m in NFGC-22-8882 and 28.7 g/t Au over 2.30m in NFGC-22-9303.
The K2 Zone, located 725m north of Lotto, is also on the west side of the AFZ, north of Monte Carlo. This zone saw extensive drilling in 2023. The “K2 Main” structure is a low-angle gold-bearing fault zone starting at surface, that dips 40° to the south and shares a similar orientation to Keats West. Several of the cross-cutting veins located in this zone are high-grade in nature, including 40.0 g/t Au over 2.45m in NFGC-23-18683 and 29.0 g/t Au over 2.85m in NFGC-23-16351.
Two additional high-grade, at-surface discoveries were made north of the Lotto Zone in late 2023. The first is Jackpot, intercepting 95.7 g/t Au over 3.25m at NFGC-23-12921. This new discovery is at a vertical depth of just 20m and is located 280m east of the AFZ.
Marking the first discovery of 2024, New Found announced the Honeypot Zone located 230m north of Jackpot. High-grade intercepts include 26.4 g/t Au over 7.65m in NFGC-23-18101, and 23.1 g/t Au over 5.25m in NFGC-23-19312. Gold found at Honeypot is hosted within a primary fault that has been drill-defined over a strike length of 280m and to a depth of 190m. The high-grade domain shows good continuity and appears to strengthen at depth.
The company is in the midst of an industry-leading 3D seismic survey at Queensway North. The program was announced in March 2023 and acquisition began on June 25, 2023. The acquisition phase was completed in August 2023, with data analysis is currently underway. Much of the 2024 drilling will be designed to target prospective areas both peripheral to and beneath the current mineralized zones defined to date by New Found along the Appleton North Corridor. Drilling will also occur along the parallel JBP Fault Zone, located 5km to the east.
In addition to exploration at Queensway North, the Company is continuing with a targeted follow-up drill campaign along with grassroots exploration work at Queensway South for the remainder of the 2024 season.
For more information on the Queensway project, please see our corporate presentation.
~$53.5 million in cash and marketable securities*
*As of February 2024.
New Found is well funded to pursue its
Board of Directors
Seasoned mining professional with 30+ years of experience in mineral exploration, mine operations and construction, and executive management. Ray was Chairman of Newmarket Gold and became a director of Kirkland Lake Gold upon the sale of Newmarket to Kirkland for $1 Billion. From 1996 to 2004 Ray held a variety of senior executive positions with Barrick Gold Corporation, rising to the position of Vice President, Project Development. Among his accomplishments were the Pierina Mine in Peru, Bulyanhulu Mine in Tanzania, Veladero Mine in Argentina, Lagunas Norte Mine in Peru and the Cowel Mine in Australia.
Vijay is a co-founder of Arkview Capital, a private equity fund backed by the Ziff family that invests in diversity-oriented companies. Vijay is involved with several diversity initiatives, serving as a member of Genesis Bank’s DEI Committee, Board member of Clean Sea Transport, and Vice Chair of the New York Minority Supplier Development Council MBE Input Committee.
Prior to founding Arkview, Vijay was a Managing Director and member of the Investment Committee at Ziff Brothers Investments with broad responsibilities across the investment portfolio. Previously, Vijay worked at private equity fund, Texas Pacific Group and investment bank, Morgan Stanley.
Vijay graduated summa cum laude from the University of Pennsylvania’s Huntsman Program and earned an MBA from the Harvard Business School, where he was named a Baker Scholar.
Geologist with over 30 years experience as consultant, mining analyst, and senior executive. Part of the founding group of Newmarket Gold, which following discovery of the high-grade Swan Zone at the company’s Fosterville mine was sold to Kirkland Lake Gold in 2016 for $1 billion. Serially successful mining entrepreneur and executive. Founder of International Royalty Corporation, sold in 2010 to Royal Gold for $700 million. Serves as Chairman of Northern Vertex Mining and as a director of Calibre Mining and Newcore Gold.
Mr. Kettell is a co-founder of New Found Gold Corp. (2016) and of Palisades Goldcorp Ltd. (2013), a Canadian resource investment company. As Chairman and CEO of New Found Gold Corp., he is responsible for developing the strategic plan for the discovery, financing and continued exploration of the Queensway Project.
In his role as Chairman and CEO of Palisades, Mr. Kettell has been the driving force behind its inception, leading to its current stature as a multi-hundred-million-dollar investment Company, while incubating and developing several companies under the Palisades umbrella.
Mr. Kettell is an active participant in the resource sector as an investor and company builder, focused on the discovery of mineral deposits both in Canada and the United States. He is founder and CEO of Nevada King Gold Corp., founder of Radio Fuels Resources Corp., co-founder of EarthLabs Inc. (previously Goldspot Discoveries), and co-founder and director of Golden Planet Mining Corp.
Over 15 years of experience in mining and capital markets; worked as a production and exploration geologist in Northern Ontario (Timmins, Kirkland Lake, and Red Lake), Norway, and Ghana. Later worked as a mining analyst with Pinetree Capital. Founder, Director and Executive Chairman of EarthLabs Inc. (formerly GoldSpot Discoveries Corp.) (TSX.V: SPOT) and also currently serves as a Director for Xtra-Gold Resources Corp. (TSE: XTG), New Found Gold Corp. (TSX.V: NFG), Kirkland Lake Discoveries Corp. (TSX.V: KLDC) and Radio Fuels Energy Corp. (CNSX: CAKE).
Key People and Advisors
Ron brings over 25 years of project and engineering leadership experience to the role including extensive experience through the study, construction, and operational phases of project development. This includes Project Director for Centerra Gold, Project Director leading feasibility study and pre-execution planning for the $1.2-billion Minesa greenfield underground gold mine in Columbia, Project Controls and Services group leader for Vale’s Voisey’s Bay $1-billion Nickel Development in Newfoundland, and Project Controls and Commercial Services group leader for the $1-billion Diavik Diamond Mines Development for Rio Tinto.
An exploration geologist with 10 + years’ experience focused on orogenic gold. Managed exploration projects worldwide from grassroots to advanced stages in greenstone belts including the Abitibi, Eastern Goldfields, Hope Bay, Central Lapland and Banfora for Kinross Gold, AngloGold Ashanti and TMAC Resources. 3 years as a consultant specializing in target generation, 3D modelling, data management and exploration program design.
Finance professional with over 15 years of experience. Since 2008 Mr. Moubarak has been involved in corporate transactions with an aggregate value in excess of $ 800 million and raised in excess of $150 million for mineral asset project development.
A professional geologist with over 14 years experience managing grass roots exploration through to advanced exploration projects; former exploration manager of Northern Gold Mining, senior project manager for Oban Mining and Osisko Mining. Responsible for the discovery and delineation of the >2.0M oz. Garrison Gold project in NE Ontario from early stage exploration through trial production mining.
Chartered Professional Accountant with expertise in corporate reporting, financial processes and risk management.
Currently Chief Financial Officer of New Found Gold Corp. (TSX-V:NFG) and Golden Planet Mining Corp.
The Board of Directors and Management believe that good corporate governance is vital to New Found Gold’s long-term success and the protection of our stakeholders’ interest. Our directors commit to maintaining the highest standards of corporate governance according to evolving best practices and regulatory guidance.
New Found Gold’s Corporate Governance practices comply with those set out by the Canadian Securities Administrators, including National Policy 58-201 – Corporate Governance Guidelines and National Instrument 58-101 – Disclosure of Corporate Governance Practices.
Douglas Hurst (Chair)
Collin Kettell (Chair)
Vijay Mehta (Chair)
Denis Laviolette (Chair)
Business Ethics and Policies
New Found Gold and the Board of Directors approved corporate governance guidelines to help us effectively manage our affairs and perform our responsibilities to the highest legal and ethical standards.
A Code of Business Conduct and Ethics applies to all employees, contractors, consultants, officers and directors and promotes honest, respectful, accountable and ethical conduct.
We have a ZERO tolerance approach to the act of bribery and corruption by any employees, officers, directors, agents, consultants and contractors as set out in our Anti-bribery and Anti-corruption Policy.
A Whistleblower Policy is in place for our employees, consultants, contractors, directors of officers to communicate concerns, confidentially and anonymously, about possible improprieties, illegal or unethical activities and ensures that measures are in place for an impartial investigation.