New Found Gold Corp Reports Significant Gold Intersections at Keats Trench
New Found Gold Corp Reports Significant Gold Intersections at Keats Trench
New Found Gold Corp. has recently announced an impressive set of results from the second phase of channel samples taken from the Keats Trench, located at the Queensway Project in Newfoundland. The findings include notable intersections of gold that promise a closer look at the potential of this site for gold mining.
Key Highlights
The results reveal astonishing gold concentrations, such as:
- - 455 g/t Au over 4.05 meters,
- - 148 g/t Au over 7.0 meters, and
- - 58.6 g/t Au over 11.6 meters.
Sampling Overview
The channel sampling program was strategically designed to enhance sample density along the well-defined high-grade veins. In total, 41 sampling lines were executed over a length of 305 meters, yielding 455 samples and demonstrating good continuity of high-grade gold mineralization extending over substantial strike length.
The results indicate that both the East-West Vein (EW Vein) and the Keats Main Vein exhibit consistent high-grade intersections, providing valuable insights into their structure and depth. Such findings affirm the existence of robust geological features conducive to gold mineralization.
Detailed Sample Findings
The table here reflects some of the most promising findings from the channel samples:
| Channel No. | From (m) | To (m) | Interval (m) | Au (g/t) |
|---|
| ---- | --- | --- | --- | ---- |
|---|---|---|---|---|
| KM-24-01-64 | 0.60 | 4.65 | 4.05 | 455.33 |
| KM-24-01-66 | 1.50 | 5.53 | 4.03 | 136.85 |
| KM-24-01-56 | 0.00 | 2.85 | 2.85 | 330.71 |
These samples not only highlight the extensive mineralization but also demonstrate sharp variations in gold presence within short geological distances. For instance, the KM-24-01-64 channel yielded a staggering 1494 g/t Au over a limited interval, emphasizing the high-grade potential of this area.
Iceberg Trench Update
In addition to findings at the Keats Trench, New Found has also made progress at the Iceberg Trench. The excavation in this area has revealed a continuous 220-meter-long segment, mirroring the geological models defined by previous drilling. Initial geological mapping indicates a significant presence of quartz veins, hinting at the mineralization quality expected from this site.
The company plans to perform systematic channel sampling at the Iceberg Trench to assess its grade distribution further, poised for exploration in 2025. The accuracy reflected in the geological mapping/infilling could lead to promising high-grade discoveries similar to those noted at the Keats Trench.
Insights from the COO
Greg Matheson, COO of New Found Gold, stated: "The results from the Keats Trench channel sampling have reliably appraised the distribution of high-grade minerals and enabled a deeper understanding of the extensive vein systems. We intend to utilize this data to refine our resource estimates and bolster our positions on future explorations in both the Keats and Iceberg areas."
Future Plans
As part of its ongoing exploration efforts, New Found Gold intends to continue expanding its channel sampling initiatives while integrating data for a comprehensive mineral resource estimate, scheduled for the second quarter of 2025. With a backing of approximately $28 million in funds, the company is well-prepared to delve deeper into exploration and drilling activities overall.
Conclusion
New Found Gold Corp has underscored the potential of the Keats Trench and Iceberg Zone through its latest sampling results. The impressive gold grades and mineralization continuity may not only reinforce the company’s standing in the mining territory but pave the way for future discoveries that could meet the growing market demand for gold.
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