New Found Commences Surface Trenching at Iceberg
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Figure 1. 3-D horizontal section (+/- 25m) with planned Iceberg trench outline on bedrock and previously excavated Keats trench outline. (Graphic: Business Wire)
Highlights:
-
The Iceberg surface trenching program will focus on excavating between 1-12 meters of overburden that covers the projection of the
Iceberg Zone at the bedrock surface, exposing 220m of strike length over a 105m wide area, which corresponds to a core segment of the surface expression of theIceberg Zone (Figure 1). - Excavation of overburden covering the surface of the zone is expected to allow for a detailed analysis of the geological and structural models currently defined through drilling.
- Excavation work is underway and it is estimated that the trench will take 8-10 weeks to complete, followed by a detailed geological mapping program expected to be completed in Q4 2024.
-
The Iceberg Zone starts approximately 4m below surface at bedrock and when combined with the Iceberg East segment has been drill defined over 680m of strike length and to a depth of 180m. The shallow portion of Iceberg demonstrates robust grades over significant thicknesses, a hallmark characteristic of the zone. Previously released near surface highlight intervals from the area to be trenched include:
Hole No. |
From (m) |
To (m) |
Interval (m) |
Au (g/t) |
Zone |
Date Released |
NFGC-22-1084 |
7.70 |
18.45 |
10.75 |
15.42 |
Iceberg |
|
Including |
12.40 |
13.25 |
0.85 |
128.29 |
Iceberg |
|
Including |
14.90 |
16.75 |
1.85 |
19.12 |
Iceberg |
|
NFGC-23-1109 |
17.60 |
23.25 |
5.65 |
19.65 |
Iceberg |
|
Including |
19.00 |
21.00 |
2.00 |
50.52 |
Iceberg |
|
NFGC-23-1264 |
20.00 |
26.70 |
6.70 |
33.28 |
Iceberg |
|
Including |
20.00 |
21.90 |
1.90 |
85.35 |
Iceberg |
|
Including |
22.65 |
23.30 |
0.65 |
80.80 |
Iceberg |
|
NFGC-23-1838 |
14.10 |
19.95 |
5.85 |
40.51 |
Iceberg |
|
Including |
14.10 |
14.80 |
0.70 |
278.00 |
Iceberg |
|
Including |
18.40 |
19.95 |
1.55 |
22.56 |
Iceberg |
|
Table 1: Iceberg Near Surface Drilling Highlights
Note that the host structures are interpreted to be steeply dipping and true widths are generally estimated to be 70% to 95% of reported intervals. 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 with a maximum of 4m consecutive dilution when above 200m vertical depth and 2m consecutive dilution when below 200m vertical depth. 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 and intervals are reported as drill thickness.
Keats Trench Update:
-
In 2023, the Company completed (
November 17, 2023 ) a surface trench of theKeats Zone , exposing 200m of strike length over a 150m wide area. -
The Company is in the process of completing a high-density surface channel sampling program at the Keats zone trench that began in early
May 2024 and is expected to be completed bymid-July 2024 . This sampling program has been designed to systematically test the exposed 200m strike length of theKeats Zone along 7.5m spaced cut channel samples with approximately 1,650m of cut channel samples.
“The ongoing systematic channel sampling program at Keats is expected to provide significant insights into the grade distribution across the vein network associated with the Keats-Baseline Fault where the vein model is now very well constrained as a result of having the trench exposure. The process of mapping and systematic sampling across our key zones is an important step and one easily accomplished at Queensway since many of our mineralized zones extend to the bedrock surface with limited cover. It is exciting to know we will have the first glimpse of Iceberg in a few weeks’ time.”
At-The-Market Quarterly Update
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From the commencement of the ATM to
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About
New Found holds a 100% interest in the
Please see the Company’s website at www.newfoundgold.ca and the Company’s SEDAR+ profile at www.sedarplus.ca.
Acknowledgements
New Found acknowledges the financial support of the
Contact
To contact the Company, please visit the Company’s website, www.newfoundgold.ca and make your request through our investor inquiry form. Our management has a pledge to be in touch with any investor inquiries within 24 hours.
Per: “Collin Kettell”
Email: ckettell@newfoundgold.ca
Phone: +1 (845) 535-1486
Neither the
Forward-Looking Statement Cautions
This press release contains certain “forward-looking statements” within the meaning of Canadian securities legislation, relating to exploration, drilling and mineralization on the Company’s Queensway gold project in
View source version on businesswire.com: https://www.businesswire.com/news/home/20240703671356/en/
Per: “Collin Kettell”
Email: ckettell@newfoundgold.ca
Phone: +1 (845) 535-1486
Source: