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 eleven drills, now ramping up to 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 July 27, 2021) posted on the Company’s web site and filed on SEDAR.
~$106 million in working capital*
*As of April 2022.
New Found is well funded to pursue its
Collin is the Founder & Executive Chairman of Palisades Goldcorp Ltd., Canada’s newest resource focused merchant bank, with $175M AUM and growing. He comes from a family with deep ties to the mining, including co-founding AuEx Ventures, the company responsible for discovering the Long Canyon deposit, a project ultimately acquired by Newmont for $2.3B. Collin is the Founder & Executive Chairman of Nevada King Mining Ltd., the third largest mineral claim holder in the State of Nevada; Co Founder & CEO of Victory Metals (TSX- V:VMX); CoFounder of Goldspot Discoveries (TSX-V:SPOT).
Over 10 years of experience in mining and capital markets; worked as a production and exploration geologist in Timmins, Kirkland Lake, Red Lake, Norway and Ghana. Later worked as a mining analyst with Pinetree Capital. Founder, Director and Executive Chairman of Goldspot Discoveries Inc. (TSX.V: SPOT) and also currently serves as a Director for Xtra-Gold Resources Corp. (TSE: XTG).
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.
Economic geologist with 25 years of exploration experience, mainly gold related. Led exploration teams for Homestake Mining Company, Newcrest Mining Ltd. and Newmont Mining Corp. Founder, Chairman and President of Novo Resources, Founder and Director of Irving Resources. Lead role in a number of discoveries including significant involvement in high grade Swan Zone discovery at Fosterville.
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.
Key People and Advisors
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), Mexican Gold Corp. (TSX-V:MEX) and Palisades Goldcorp Ltd.
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.
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.
Professional mining engineer with over 30 years of operations, engineering consulting, investment banking, and corporate management experience. Career work has included management roles in mine construction and development, engineering work on feasibility studies for a variety of mining projects worldwide, and investment banking work focused on mining institutional equity financings and mining merger and acquisition transactions.
Over 36 years’ experience in base and precious metal mineral exploration in various management roles; former chief geologist for Kirkland Lake Gold’s Macassa Mine. Extensive experience developing, supervising and implementing exploration campaigns including for Lac Minerals, Kirkland Lake Gold, Kinross Gold and Barrick Gold.
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.
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.