New Found Gold Corp. (“New Found” or the
“Company”) (TSX-V: NFG, NYSE-A: NFGC) is pleased to announce
the results from its inaugural 7,250m, 33 diamond drill hole
program at Queensway South (“QWS”) that commenced in August 2022
and was designed to test early-stage exploration targets along an
18.5km long stretch of the Appleton Fault Zone (“AFZ”)
approximately 50km south of the Keats Zone (Figure 2). Queensway
South is a contiguous portion of New Found’s 100%-owned Queensway
project and covers roughly 65km of strike extension on the regional
Appleton and JBP Fault Zones across 1320km2 of the Queensway
project’s total area of 1,662km2. QWS is easily accessed via the
Trans-Canada Highway and a network of forestry roads.
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Figure 1: Top: Brecciated gold-bearing
vein from NFGC-QS-22-19 at ~199m: Bottom Left: Visible gold in
NFGC-QS-22-18 at ~48m Bottom Right: Visible gold in NFGC-QS-22-21
at ~222m. ^Note that these photos are not intended to be
representative of gold mineralization in NFGC-QS-22-18,19,21.
(Photo: Business Wire)
Highlights:
- 27 of 33 drill holes hit significant gold mineralization
while 10 drill holes contained visible gold across four
target areas (Figures 1 and 3), as summarized in Table 2.
Several new discoveries were made along an 18.5km corridor
that was prioritized due to the amount of gold found in the
surficial environment; specific targets tested occur on both
sides of the AFZ and exhibit a combination of favourable
characteristics including elevated Au-in-grab, till and soil
samples.
- At Pauls Pond, an area covering a high concentration of gold
anomalies on both sides of the AFZ, seventeen drillholes were
completed leading to three new discoveries:
“Astronaut”, “Nova” and “Nebula” as well as
the expansion of the historic “Goose” zone (Figures 3 and
4).
- Astronaut and Nova are parallel structures
located west of the AFZ that have been traced over 1,600m
and 250m of strike length, respectively. At Astronaut and
Nova, eight out of nine holes drilled contained visible
gold, including highlight interval of 19.0 g/t Au over
3.15m in NFGC-QS-22-20. The Company believes these two zones
connect through to the Goose zone, which, if confirmed, would
expand this mineralized corridor to 2.5km in strike
length.
- Nebula, the third discovery in the Pauls Pond area, is
located on the east side of the AFZ and drill testing of a
prominent Au-in-soil anomaly with two holes identified significant
mineralization that is associated with a near-surface shear zone
that returned an initial highlight result of 4.92 g/t Au over
3.05m in NFGC-QS-22-25 (Figure 4).
- On the east side of the AFZ drill testing of two trenched Au-in
soil and till anomalies led to two new discoveries, “Devils
Pond” and “Devils Pond South”. These zones are located 12km
apart and all drillholes at both targets intersected
broad domains of highly anomalous gold including highlight
intervals of 0.47 g/t Au over 8.00m and 0.37 g/t Au over
28.00m in NFGC-QS-22-15 at Devils Pond and 1.01 g/t Au over
8.80m in NFGC-QS-22-30 at Devils Pond South (Figure 3).
Greg Matheson, COO of New Found, stated: “Results from our
inaugural drill program at Queensway South exceeded our
expectations. The majority of target areas tested led to new
discoveries – discoveries generated by New Found applying
prospecting, soil and till sampling, mapping, trenching and
interpretation of geophysics across the vast claim blocks of QWS.
With only a handful of targets tested, the success of this small
program demonstrates the potential of this region and supports our
thesis that the Queensway Project is a district-scale host to gold
mineralization. There is a lot of work to be done in advancing
these new discoveries and continuing to test new targets generated
along the AFZ’s 65km+ of largely unexplored strike that falls on
the QWS Project. The 2023 summer regional exploration program will
consist of a follow-up drill program of approximately 10,000m along
with boots-on-the-ground field work to continue to identify new
targets and expand on these new discoveries.”
Hole No.
From (m)
To (m)
Interval (m)
Au (g/t)
Zone
NFGC-QS-22-18
183.00
190.10
7.10
2.13
Astronaut
Including*
186.00
189.70
3.70
3.85
NFGC-QS-22-19
197.00
207.00
10.00
1.03
Astronaut
Including*
199.90
201.95
2.05
4.29
Including^
199.90
200.55
0.65
11.47
NFGC-QS-22-20
227.45
232.30
4.85
12.35
Astronaut
Including*
227.45
230.60
3.15
18.95
Including^
229.10
229.85
0.75
72.60
NFGC-QS-22-21
37.00
52.20
15.20
0.81
Nova
Including*
37.00
46.50
9.50
1.09
NFGC-QS-22-22
206.15
209.70
3.55
5.17
Astronaut
Including*
207.30
209.30
2.00
8.88
Including^
208.30
209.30
1.00
14.69
NFGC-QS-22-25*
18.55
22.85
4.30
3.70
Nebula
Including
18.55
21.60
3.05
4.92
Including
22.25
22.85
0.60
1.29
NFGC-QS-22-30
70.00
78.80
8.80
1.01
Devils Pond South
Including*
72.00
78.80
6.80
1.17
Table 1: QWS Drilling
Highlights
At Queensway South, host
structures are interpreted to be steeply dipping and true widths
are unknown at this time. Additional drilling is required to assess
the true width of intersected vein structures. Composite intervals
reported carry a minimum weighted average of 0.25 g/t Au diluted
over a minimum core length of 2m with a maximum of 4m consecutive
dilution. Included high-grade intercepts are reported as any
consecutive interval with grades greater than 1 g/t Au.
*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.
^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.
Additional Details:
Astronaut and Nova
- Mineralization is constrained to dioritic-gabbroic dykes that
have intruded a package of siltstone immediately west of the AFZ
and mineralization is characterized by quartz veins often
containing tourmaline, arsenopyrite, chalcopyrite, pyrrhotite and
pyrite, a similar mineralization style as seen at the Valentine
Lake deposit located 150km to the west (Figure 1).
Nebula
- Associated with a substantial Au-in-soil anomaly, this target
is characterized by a shear zone located immediately east of the
inferred projection of the AFZ containing quartz veins with
tourmaline and arsenopyrite hosted by siltstone interbedded with
greywacke, the same host Davidsville Group stratigraphy to the
Queensway North (“QWN”) discoveries such as Keats, Keats West,
Iceberg, Golden Joint and Lotto.
Devils Pond
- Identified using soils and is defined by a +1 g/t Au-in-soil
anomaly. Subsequent trenching revealed a shear zone with quartz
veining and strong arsenopyrite mineralization hosted by a
greywacke located in a similar stratigraphic position to Devils
Pond South and several of the QWN AFZ discoveries.
Devils Pond South
- An Au-in-till anomaly that was subsequently trenched to reveal
high concentrations of arsenopyrite mineralization in a greywacke
located in a similar stratigraphic position to several of the
discoveries made along the QWN segment of the AFZ and at Devils
Pond.
Eastern Pond
- The Eastern Pond target is defined by high-grade Au-in-grab
samples, largely float, and Au-in-tills which was subsequently
trenched revealing Au-anomalous quartz veins hosted in an
interbedded black siltstone domain. One follow-up hole was
completed and intersected one visible gold occurrence and anomalous
gold. Additional work is scheduled for this region and the target
is locally analogous to the gold discoveries made along the west
side of the AFZ at QWN such as Keats West.
Aztec
- Aztec is an epithermal target and is defined by a large area of
sinter and is associated with a significant fault zone and
hydrothermal breccia containing gold that is exposed in a trench
and historical drill core. Drilling was designed to test below the
sinter and down-dip within the fault-zone and breccia domain. One
hole was completed at Aztec and successfully intersected the main
fault zone but returned weekly anomalous gold values. South of the
Aztec epithermal target, seven drill holes were completed targeting
an outcrop exposure containing high-grade gold-bearing quartz
veins. Similar to the Astronaut, Nova and Goose zones, gold
mineralization was constrained to gabbro dykes that had intruded
the local siltstone unit. Anomalous gold was intersected and
included one occurrence of visible gold.
Drillhole Details
Hole No.
From (m)
To (m)
Interval (m)
Au (g/t)
Zone
NFGC-QS-22-01
26.50
30.10
3.60
0.88
Goose
Including
26.50
27.30
0.80
1.75
Including
28.55
29.70
1.15
1.16
NFGC-QS-22-02
No significant assays
Goose
NFGC-QS-22-03
40.40
43.00
2.60
0.34
Goose
Including
41.25
42.00
0.75
1.06
And
49.00
53.40
4.40
0.59
Including
51.60
52.40
0.80
2.09
And
78.00
80.00
2.00
0.31
NFGC-QS-22-04
50.75
53.35
2.60
0.38
Aztec
And
58.00
60.00
2.00
0.61
Including
59.00
60.00
1.00
1.12
NFGC-QS-22-05
82.00
84.00
2.00
0.67
Aztec
Including
82.00
83.00
1.00
1.30
And*
85.90
88.05
2.15
1.44
Including
87.05
87.60
0.55
5.47
NFGC-QS-22-06
31.40
33.60
2.20
0.26
Aztec
NFGC-QS-22-07
No significant assays
Aztec
NFGC-QS-22-08
No significant assays
Aztec
NFGC-QS-22-09
No significant assays
Aztec
NFGC-QS-22-10
113.70
120.70
7.00
0.55
Astronaut
Including
113.70
114.10
0.40
2.07
Including
115.65
116.30
0.65
2.08
And
221.30
223.70
2.40
0.33
Including
222.15
222.50
0.35
1.83
And
340.00
342.40
2.40
0.72
Pauls Pond
NFGC-QS-22-11
96.75
101.40
4.65
0.39
Pauls Pond
And
131.00
133.20
2.20
0.27
And
211.00
213.00
2.00
0.29
NFGC-QS-22-12
67.00
69.35
2.35
0.28
Astronaut
And*
114.00
116.00
2.00
1.62
Including
115.55
116.00
0.45
4.82
And*
122.15
125.00
2.85
1.05
Including
122.15
122.45
0.30
9.90
And
231.60
234.00
2.40
0.48
Pauls Pond
Including
231.60
232.20
0.60
1.89
And*
408.00
410.00
2.00
1.44
Including
408.00
409.00
1.00
2.88
NFGC-QS-22-13
29.00
39.00
10.00
0.25
Devils Pond
And
50.00
52.00
2.00
0.70
Including
50.65
51.55
0.90
1.43
NFGC-QS-22-14
14.95
17.00
2.05
0.35
Devils Pond
And
32.00
34.00
2.00
0.54
NFGC-QS-22-15
15.00
17.00
2.00
0.41
Devils Pond
And
33.00
41.00
8.00
0.47
Including
39.00
39.60
0.60
1.39
And
46.00
74.00
28.00
0.37
Including
70.00
70.80
0.80
1.16
NFGC-QS-22-16
18.00
20.00
2.00
0.51
Devils Pond
And
41.85
44.00
2.15
0.42
Including
41.85
42.25
0.40
2.24
NFGC-QS-22-17
61.80
67.55
5.75
0.40
Astronaut
And*
93.30
95.40
2.10
1.13
Including
95.00
95.40
0.40
4.70
NFGC-QS-22-18
24.90
27.35
2.45
0.84
Nova
Including
26.85
27.35
0.50
3.29
And
46.60
48.75
2.15
0.75
Including
48.40
48.75
0.35
3.71
And
98.00
100.00
2.00
0.38
And*
115.00
117.35
2.35
1.25
Including
116.90
117.35
0.45
6.34
And
153.00
155.00
2.00
0.98
Astronaut
Including
154.15
155.00
0.85
2.26
And
183.00
190.10
7.10
2.13
Including*
186.00
189.70
3.70
3.85
And
213.25
219.60
6.35
0.33
Including
213.25
213.75
0.50
1.55
Including
215.40
215.80
0.40
1.57
And
262.15
269.00
6.85
0.47
Pauls Pond
Including
264.40
265.15
0.75
1.16
Including
268.35
269.00
0.65
1.20
And
275.40
281.25
5.85
0.65
Including
277.90
278.45
0.55
1.30
Including
279.05
279.60
0.55
1.58
And
288.00
294.50
6.50
0.36
Including
293.10
293.60
0.50
1.16
And
324.00
326.00
2.00
0.51
NFGC-QS-22-19
23.00
25.10
2.10
0.43
Nova
Including
23.65
24.10
0.45
1.25
And
32.70
37.20
4.50
1.87
Including*
32.70
35.00
2.30
3.38
And
197.00
207.00
10.00
1.03
Astronaut
Including*
199.90
201.95
2.05
4.29
Including^
199.90
200.55
0.65
11.47
And
230.85
233.10
2.25
0.62
Including
231.40
231.90
0.50
1.51
Including
232.30
232.75
0.45
1.34
NFGC-QS-22-20
68.00
70.00
2.00
0.31
Nova
And*
127.00
129.00
2.00
1.41
Including
128.00
129.00
1.00
2.65
And
183.00
185.00
2.00
0.28
And
227.45
232.30
4.85
12.35
Astronaut
Including*
227.45
230.60
3.15
18.95
Including^
229.10
229.85
0.75
72.60
And
243.00
245.00
2.00
0.39
And
328.95
341.00
12.05
0.35
Pauls Pond
Including
336.90
337.30
0.40
1.45
Including
340.00
341.00
1.00
1.61
And
347.00
352.00
5.00
0.34
And
358.00
372.95
14.95
0.26
Including
367.00
367.75
0.75
2.37
NFGC-QS-22-21
30.50
33.00
2.50
0.34
Nova
Including
32.35
32.65
0.30
1.36
And
37.00
52.20
15.20
0.81
Including*
37.00
46.50
9.50
1.09
Including
51.75
52.20
0.45
1.12
And
201.75
204.00
2.25
0.25
Astronaut
And*
231.70
233.70
2.00
1.57
Including
232.45
232.80
0.35
8.44
And
237.85
239.85
2.00
0.38
NFGC-QS-22-22
72.00
76.00
4.00
0.34
Nova
And
206.15
209.70
3.55
5.17
Astronaut
Including*
207.30
209.30
2.00
8.88
Including^
208.30
209.30
1.00
14.69
NFGC-QS-22-23
91.00
93.45
2.45
0.51
Nova
Including
91.00
92.00
1.00
1.17
And
221.70
234.00
12.30
0.29
Astronaut
Including
221.70
222.05
0.35
1.93
NFGC-QS-22-24*
8.35
10.80
2.45
1.14
Nebula
Including
8.35
9.00
0.65
3.71
And
167.00
173.20
6.20
0.25
Pauls Pond
Including
170.00
170.40
0.40
1.11
NFGC-QS-22-25*
18.55
22.85
4.30
3.70
Nebula
Including
18.55
21.60
3.05
4.92
Including
22.25
22.85
0.60
1.29
NFGC-QS-22-26
77.00
79.30
2.30
0.55
Goose
Including
78.00
78.65
0.65
1.88
NFGC-QS-22-27
73.95
84.30
10.35
0.67
Goose
Including*
77.30
79.40
2.10
1.23
Including*
81.65
84.30
2.65
1.32
NFGC-QS-22-28
93.60
97.05
3.45
0.26
Eastern Pond
And
117.90
119.95
2.05
0.42
And
150.15
152.55
2.40
0.34
Including
150.70
151.20
0.50
1.34
NFGC-QS-22-29
11.60
14.30
2.70
0.46
Devils Pond South
And
50.00
52.00
2.00
0.52
Including
51.00
51.60
0.60
1.17
And
80.00
83.00
3.00
0.55
NFGC-QS-22-30
70.00
78.80
8.80
1.01
Devils Pond South
Including*
72.00
78.80
6.80
1.17
NFGC-QS-22-31
32.55
36.30
3.75
0.31
Devils Pond South
Including
36.00
36.30
0.30
1.27
And
45.00
51.00
6.00
0.39
Including
45.00
45.65
0.65
1.06
NFGC-QS-22-32
No significant assays
Aztec
NFGC-QS-22-33
No significant assays
Aztec
Table 2: Summary of composite
results reported in this press release for QWS
At Queensway South, host
structures are interpreted to be steeply dipping and true widths
are unknown at this time. Additional drilling is required to assess
the true width of intersected vein structures. Composite intervals
reported carry a minimum weighted average of 0.25 g/t Au diluted
over a minimum core length of 2m with a maximum of 4m consecutive
dilution. Included high-grade intercepts are reported as any
consecutive interval with grades greater than 1 g/t Au.
*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.
^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.
Hole No.
Azimuth (°)
Dip (°)
Length (m)
UTM E
UTM N
Prospect
NFGC-QS-22-01
145
-45
80.5
635812
5390209
Goose
NFGC-QS-22-02
145
-45
221
635756
5390291
Goose
NFGC-QS-22-03
145
-45
143
635785
5390251
Goose
NFGC-QS-22-04
148
-46
146
630429
5387428
Aztec
NFGC-QS-22-05
148
-45
167
630400
5387474
Aztec
NFGC-QS-22-06
148
-45
111
630456
5387388
Aztec
NFGC-QS-22-07
148
-45
118
630500
5387418
Aztec
NFGC-QS-22-08
64
-45
131
630443
5387363
Aztec
NFGC-QS-22-09
139
-71
83.1
630443
5387366
Aztec
NFGC-QS-22-10
125
-45
398
637130
5391946
Pauls Pond
NFGC-QS-22-11
125
-45
371
637499
5392161
Pauls Pond
NFGC-QS-22-12
125
-50
410
637130
5391946
Pauls Pond
NFGC-QS-22-13
125
-45
218
640900
5395936
Devils Pond
NFGC-QS-22-14
125
-60
119
640900
5395936
Devils Pond
NFGC-QS-22-15
90
-45
110
640901
5395935
Devils Pond
NFGC-QS-22-16
160
-45
104
640900
5395935
Devils Pond
NFGC-QS-22-17
125
-45
173
637431
5392244
Pauls Pond
NFGC-QS-22-18
125
-45
335
636772
5391456
Pauls Pond
NFGC-QS-22-19
125
-45
290
636528
5391234
Pauls Pond
NFGC-QS-22-20
125
-45
383
636731
5391485
Pauls Pond
NFGC-QS-22-21
125
-45
275
636434
5391138
Pauls Pond
NFGC-QS-22-22
125
-45
272
636333
5391070
Pauls Pond
NFGC-QS-22-23
125
-45
266
636392
5391165
Pauls Pond
NFGC-QS-22-24
135
-45
230
638252
5392269
Pauls Pond
NFGC-QS-22-25
135
-45
218
638312
5392358
Pauls Pond
NFGC-QS-22-26
145
-45
152
635948
5390366
Goose
NFGC-QS-22-27
145
-45
146
635703
5390193
Goose
NFGC-QS-22-28
140
-45
407
631023
5383678
Eastern Pond
NFGC-QS-22-29
115
-45
110
634050
5385029
Devils Pond South
NFGC-QS-22-30
115
-45
101
634043
5385020
Devils Pond South
NFGC-QS-22-31
115
-45
227
633990
5384996
Devils Pond South
NFGC-QS-22-32
135
-45
401
630549
5389330
Aztec
NFGC-QS-22-33
170
-45
338
632746
5390259
N/A
Table 3: Details of drill
holes reported in this press release
Queensway 500,000m Drill Program Update
The Company is currently undertaking a 500,000m drill program at
Queensway and approximately 64,000m of core is currently pending
assay results.
Sampling, Sub-sampling, and Laboratory
All drilling recovers HQ core. Drill core is split in half using
a diamond saw or a hydraulic splitter for rare intersections with
incompetent core.
A geologist examines the drill core and marks out the intervals
to be sampled and the cutting line. Sample lengths are mostly 1.0
meter and adjusted to respect lithological and/or mineralogical
contacts and isolate narrow (<1.0m) veins or other structures
that may yield higher grades.
Technicians saw the core along the defined cutting line.
One-half of the core is kept as a witness sample and the other half
is submitted for analysis. Individual sample bags are sealed and
placed into totes, which are then sealed and marked with the
contents.
New Found submits samples for gold determination by fire assay
to ALS Canada Ltd. (“ALS”) and by photon assay to MSALABS (“MSA”)
since June 2022. ALS and MSA operate under a commercial contract
with New Found.
Drill core samples are shipped to ALS for sample preparation in
Sudbury, Ontario, Thunder Bay, Ontario, or Moncton, New Brunswick.
ALS is an ISO-17025 accredited laboratory for the fire assay
method.
Drill core samples are also submitted to MSA in Val-d’Or,
Quebec. MSA operates numerous laboratories worldwide and maintains
ISO-17025 accreditation for many metal determination methods.
Accreditation of the photon assay method at the MSA Val D’Or
laboratory is in progress.
At ALS, the entire sample is crushed to approximately 70%
passing 2mm. A 3,000-g split is pulverized. “Routine” samples do
not have visible gold (VG) identified and are not within a
mineralized zone. Routine samples are assayed for gold by 30-g fire
assay with an inductively-couple plasma spectrometry (ICP) finish.
If the initial 30-g fire assay gold result is over 1 g/t, the
remainder of the 3,000-g split is screened at 106 microns for
screened metallics assay. For the screened metallics assay, the
entire coarse fraction (sized greater than 106 microns) is fire
assayed and two splits of the fine fraction (sized less than 106
microns) are fire assayed. The three assays are combined on a
weight-averaged basis. Samples that have VG identified or fall
within a mineralized interval are automatically submitted for
screened metallic assay for gold.
At MSA, the entire sample is crushed to approximately 70%
passing 2mm. For “routine” samples that do not have VG identified
and are not within a mineralized zone, the samples are riffle split
to fill two 450g jars for photon assay. The assays reported from
both jars are combined on a weight-averaged basis. If one of the
jars assays greater than 1 g/t, the remaining crushed material is
weighed into multiple jars and are submitted for photon assay.
For samples that have VG identified or are within a mineralized
zone, the entire crushed sample is weighed into multiple jars and
are submitted for photon assay. The assays from all jars are
combined on a weight-averaged basis.
All samples prepared at ALS or MSA are also analyzed for a
multi-element ICP package (ALS method code ME-ICP61) at ALS
Vancouver.
Drill program design, Quality Assurance/Quality Control and
interpretation of results are performed by qualified persons
employing a rigorous Quality Assurance/Quality Control program
consistent with industry best practices. Standards and blanks
account for a minimum of 10% of the samples in addition to the
laboratory’s internal quality assurance programs.
Quality Control data are evaluated on receipt from the
laboratories for failures. Appropriate action is taken if assay
results for standards and blanks fall outside allowed tolerances.
All results stated have passed New Found’s quality control
protocols.
New Found’s quality control program also includes submission of
the second half of the core for approximately 5% of the drilled
intervals. In addition, approximately 1% of sample pulps for
mineralized samples are submitted for re-analysis to a second
ISO-accredited laboratory for check assays.
The Company does not recognize any factors of drilling, sampling
or recovery that could materially affect the accuracy or
reliability of the assay data disclosed.
The assay data disclosed in this news release have been verified
by the Company’s Qualified Person against the original assay
certificates.
The Company notes that it has not completed any economic
evaluations of its Queensway Project and that the Queensway Project
does not have any resources or reserves.
Qualified Person
The scientific and technical information disclosed in this press
release was reviewed and approved by Greg Matheson, P. Geo., Chief
Operating Officer, and a Qualified Person as defined under National
Instrument 43-101. Mr. Matheson consents to the publication of this
press release dated May 25, 2023, by New Found. Mr. Matheson
certifies that this press release fairly and accurately represents
the scientific and technical information that forms the basis for
this press release.
About New Found Gold Corp.
New Found holds a 100% interest in the Queensway Project,
located 15km west of Gander, Newfoundland and Labrador, and just
18km from Gander International Airport. The project is intersected
by the Trans-Canada Highway and has logging roads crosscutting the
project, high voltage electric power lines running through the
project area, and easy access to a highly skilled workforce. The
Company is currently undertaking a 500,000m drill program at
Queensway and is well funded for this program with cash and
marketable securities of approximately $60 million as of May
2023.
Please see the Company’s website at www.newfoundgold.ca and the
Company’s SEDAR profile at www.sedar.com.
Acknowledgements
New Found acknowledges the financial support of the Junior
Exploration Assistance Program, Department of Natural Resources,
Government of Newfoundland and Labrador.
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.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
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 Newfoundland and Labrador; assay results; the
interpretation of drilling and assay results, the results of the
drilling program, mineralization and the discovery of zones of
high-grade gold mineralization; plans for future exploration and
drilling and the timing of same; the merits and potential of the
Queensway project; future press releases by the Company; and
funding of the drilling program. Although the Company believes that
such statements are reasonable, it can give no assurance that such
expectations will prove to be correct. Forward-looking statements
are statements that are not historical facts; they are generally,
but not always, identified by the words “expects”, “plans”,
“anticipates”, “believes”, “interpreted”, “intends”, “estimates”,
“projects”, “aims”, “suggests”, “indicate”, “often”, “target”,
“future”, “likely”, “pending”, “potential”, “goal”, “objective”,
“prospective”, “possibly”, “preliminary”, and similar expressions,
or that events or conditions “will”, “would”, “may”, “can”, “could”
or “should” occur, or are those statements, which, by their nature,
refer to future events. The Company cautions that forward-looking
statements are based on the beliefs, estimates and opinions of the
Company's management on the date the statements are made, and they
involve a number of risks and uncertainties. Consequently, there
can be no assurances that such statements will prove to be accurate
and actual results and future events could differ materially from
those anticipated in such statements. Except to the extent required
by applicable securities laws and the policies of the TSX Venture
Exchange, the Company undertakes no obligation to update these
forward-looking statements if management's beliefs, estimates or
opinions, or other factors, should change. Factors that could cause
future results to differ materially from those anticipated in these
forward-looking statements include risks associated with possible
accidents and other risks associated with mineral exploration
operations, the risk that the Company will encounter unanticipated
geological factors, risks associated with the interpretation of
assay results and the drilling program, the possibility that the
Company may not be able to secure permitting and other governmental
clearances necessary to carry out the Company's exploration plans,
the risk that the Company will not be able to raise sufficient
funds to carry out its business plans, and the risk of political
uncertainties and regulatory or legal changes that might interfere
with the Company's business and prospects. The reader is urged to
refer to the Company's Annual Information Form and Management’s
discussion and Analysis, publicly available through the Canadian
Securities Administrators' System for Electronic Document Analysis
and Retrieval (SEDAR) at www.sedar.com for a more complete
discussion of such risk factors and their potential effects.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230525005373/en/
New Found Gold Corp. Per: “Collin Kettell” Collin Kettell, Chief
Executive Officer Email: ckettell@newfoundgold.ca Phone: +1 (845)
535-1486
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