About New Found Gold Corp.
New Found is advancing its 100% owned 1,510km2 Queensway gold project, located on the Trans-Canada highway 15km west of Gander, Newfoundland. A 400,000m drill campaign is underway utilizing fourteen drills. Exploration is focused on a 9.5km corridor along the Appleton fault and a 12.4km corridor along the JBP fault.
On the Appleton fault, following up on an initial discovery hole drilled in late 2019 that returned 19m of 92.9 g/t Au at the Keats Zone, the Company's drilling program has now intersected high-grade gold to approximately 845m down plunge from the initial discovery area.
At the Lotto Zone approximately 2km north of Keats, from the initial high-grade discovery hole of 41.2 g/t Au over 4.75m and 25.4 g/t Au over 5.15m, the ongoing program has extended drill defined high-grade gold to a vertical depth of approximately 225m and over a strike length of approximately 200m. At Lotto, high-grade gold mineralization has also been intersected in the hanging-wall of the Appleton fault itself to the west of the Lotto main zone (the "Sunday" zone).
On June 29, 2021 New Found announced an interval of 430.2 g/t Au over 5.25m at the Golden Joint Zone, a discovery area located approximately 1km north of Keats and 1km south of Lotto. Subsequent drilling at Golden Joint has intersected high-grade gold mineralization over a strike length of approximately 250m and to a vertical depth of approximately 300m. A separate zone of high-grade gold mineralization has been drill intersected in the hanging wall at Golden Joint (the "Golden Joint HW" zone), with this mineralization now drill defined over a strike length of approximately 190m and to a vertical depth of approximately 125m.
Most recently, the Company announced the discovery of the new '515' zone which intercepted 9.21 g/t Au over 2.15m and 43.9 g/t Au over 3.85m. This new discovery is located between Keats and Golden Joint.
Multiple additional high-grade gold targets are now being pursued over 9.5km of strike along the Appleton Fault Zone and 12.4km along the JBP Fault Zone. Work is also underway to define additional drill targets on approximately 70km of prospective strike along the Appleton and JBP fault structures on the southern portion of the Queensway property.
True widths of the intercepts in this presentation are reported as drill thickness along with an estimated range of true thickness. Host structures along the Appleton Fault Zone are generally interpreted to be steeply dipping and true widths are estimated to be 85% to 95% of reported widths at Keats, 80% to 90% at Lotto, 70% to 90% at Golden Joint. Infill veining in secondary structures with multiple orientations crosscutting the primary host structures are commonly observed in drill core which could result in additional uncertainty in true width. Composite intervals reported carry a minimum weighted average of 1 g/t Au diluted over a minimum core length of 2m. Included high-grade intercepts are reported as any consecutive interval with grades greater than 10 g/t Au. Grades have not been capped in the averaging. Assay data has been verified by the Company’s Qualified Person against the original assay certificates and the Company does not recognize any factors of drilling, sampling or recovery that could materially affect the accuracy or reliability of this assay data. Additional drill interval detail is provided in this presentation, in the Company’s news releases and in its NI-43-101 technical report (effective date May 31, 2022) posted on the Company’s web site and filed on SEDAR.
~$62 million in cash and marketable securities*
*As of October 2022.
New Found is well funded to pursue its
exploration programs.
Leadership Team
Key People and Advisors
Governance
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.
Committees
Audit
Committee
Douglas Hurst (Chair)
Quinton Hennigh
Denis Laviolette
Compensation
Committee
Collin Kettell (Chair)
Douglas Hurst
Vijay Mehta
Corporate
Governance
Vijay Mehta (Chair)
Collin Kettell
Douglas Hurst
Technical
Committee
Denis Laviolette (Chair)
Quinton Hennigh
Douglas Hurst
Business Ethics and Policies
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.
