Hammerdown Gold Project
Hammerdown Gold Project Overview
The Hammerdown Gold Project was added to the Company’s asset portfolio following the completion of the Maritime Resources Corp. acquisition in November 2025. The Hammerdown deposit is located in the north-central portion of the island of Newfoundland & Labrador, approximately 5 km southwest of the Town of King’s Point and approximately 15 km northwest of the Town of Springdale in Newfoundland & Labrador.
Hammerdown represents a complementary set of gold deposits and processing assets that materially enhance the Company’s development profile by providing near-term advancement optionality alongside the longer-term growth potential of Queensway.
Hammerdown is comprised of the Hammerdown Property and Pine Cove Property and adds permitted milling and tailing facilities, along with near-term gold production to the Company’s asset portfolio. The Hammerdown Gold Project includes:
• the Pine Cove Mill and tailings facility located on the Hammerdown property
• the Hammerdown deposit located on the Hammerdown property
• the Orion deposit located on the Hammerdown property
• the Stog’er Tight deposit located on the Pine Cove property
• the Nugget Pond Hydrometallurgical Gold Circuit (currently planned for relocation to the Pine Cove Mill to support mill expansion), and
• a large land package surrounding the Hammerdown, Orion and Stog’er Tight deposits with significant upside exploration potential and associated supporting infrastructure.
Hammerdown Deposit
The Hammerdown deposit is an open-pit mining deposit that achieved its first gold pour in November 2025. Ramp-up of operations have been on-going and commercial production is expected in H2/26.
Geology & Mineralization
The Project is located in the northeastern extremity of the Appalachian Orogen of eastern North America, where it is predominantly underlain by Paleozoic volcanic rocks of the Newfoundland Appalachians within the Notre Dame Subzone of the Dunnage tectono- stratigraphic sub-division.
The rocks underlying the area are represented by volcano-sedimentary assemblages of oceanic supra- subduction zone (ophiolitic) and mature-arc derivations accreted to the ancient North American (Laurentian) continental margin during the Taconian Orogeny (Ordovician to Silurian) and further deformed during the Silurian-Devonian, post accretion, Acadian Orogeny Other geological elements cover portions of the property including Silurian sub-aerial to fluviatile sediments (conglomerates) of the Springdale Group to the southeast , Devonian intrusive rocks of the King’s Point Complex, Siluro-Devonian intrusive rocks of Burlington Granodiorite to the northwest , and Devonian granitic intrusive rocks of the Topsails Granite to the southwest . A suite of mafic volcanics (informally referred to as the Hammerdown Basalt) in the northeastern part of the area were removed from the Lushs Bight Group and reassigned to the Catchers Pond Group and the Lushs Bight Group.
The Property is host to numerous underexplored gold prospects and showings along with volcanogenic massive sulphide (VMS) style base metal mineralization.
The most important and well-defined gold deposits include Hammerdown and Orion, which occur within the Hammerdown Deformation Zone. The Hammerdown Deformation Zone is a 100 m to 250 m wide structural corridor characterized by ductile to brittle shear deformation within bi-modal volcanic rocks.
Technical Report
On February 26, 2026, New Found Gold announced the results of an updated Technical Report for the Hammerdown Gold Project.
Access the current technical report below.