#Canada #Vancouver #New Found Gold #Queensway Gold #2025 Work Program

New Found Gold Expands 2025 Work Program for Queensway Gold Project

New Found Gold Corp., a prominent player in the mining industry, is excited to announce a significant extension of its 2025 work program for the wholly-owned Queensway Gold Project, located in the rich mineral regions of Newfoundland and Labrador. This ambitious expansion reflects the company’s growing confidence in the project, underpinned by a robust financial backing, primarily due to a recent financing deal that has provided ample resources for executing this extensive drilling initiative.

Key Highlights of the 2025 Work Program

• - Drilling Scope: A major drill program of 70,000 meters is currently underway, with around 11,750 meters already completed using five active drill rigs on site. 80% of this drilling effort is concentrated on resource definition and pre-development goals, while 20% will focus on exploration activities to sharpen the potential for new findings.
• - Ongoing Excavation Programs: The AFZ Core excavation initiative is progressing with channel sampling at the Iceberg site nearing completion, while preparations for the Lotto excavation are imminent.
• - Planned Exploration: A regional exploration program is also taking place at Queensway North and South, expected to extend until late September 2025, further enhancing the project’s exploration breadth.
• - Engineering Studies: Alongside the drilling activities, the company is set to release a Preliminary Economic Assessment (PEA) in late Q2 2025, which will encompass engineering studies that include metallurgical tests and various trade-off analyses to optimize project planning.

Melissa Render, President of New Found Gold, articulated the company’s enthusiastic outlook, saying, “With the recent closure of our bought deal financing, we are well-positioned to expand our 2025 work program. Our focus will center on delivering essential outcomes to propel Queensway towards development. The substantial 70,000 meter drilling initiative, coupled with comprehensive engineering and environmental studies, is testament to the enormous potential of our expansive land holdings.”

Resource Definition and Pre-development Focus

The strategic plan for 2025 allocates approximately 80% of drilling activities toward infill targeting of inferred and unclassified mineralization within the pit shells centered around the AFZ Core. This includes essential drilling at the Keats and Iceberg zones, reinforcing grade control efforts while ensuring geological and hydrogeological assessments are undertaken for accurate data acquisition. This phase commenced in May 2025 and is set to persist until December 2025.

Exploration Initiatives

Furthermore, targeting 20% of the drilling focus on exploration, particular attention is directed toward the Dropkick zone, a promising site located about 11 kilometers north of AFZ Core. Drilling began at Dropkick in late 2024, revealing spectacular results from initial drilling, including high-grade gold measurements that showcase this area’s potential for significant mineral discovery.

Excavation of AFZ Core and Regional Exploration

The excavation of key zones within the AFZ Core has also been extensive. The Iceberg zone’s excavation has unearthed broad gold-bearing quartz veins just beneath a moderate layer of overburden. This excavation has been bolstered by dewatering efforts and is in the channel sampling phase, allowing for a granular exploration of this promising area. The Lotto zone's excavation is projected for Q4 2025 completion, with sampling activities slated for early 2026.

Additionally, exploratory operations in the surrounding regions will include soil and rock sampling, trenching, and advanced surveys, aiming to tap into new prospective targets that may lie within the company’s extensive land portfolio.

Commitment to Environmental Studies

New Found Gold is steadfast in its commitment to environmental responsibility. The company has been collecting baseline data for environmental assessments since 2021, ensuring comprehensive data sets are in place for future permitting processes. A suite of environmental studies is slated for execution in 2025 to maintain adherence to regulatory standards and sustainability practices.

About New Found Gold

New Found Gold continues to strengthen its position in the industry, holding a complete stake in the Queensway project, known for its exceptional infrastructure and skilled labor. As the company forges ahead with its ambitious plans, it aims to solidify its standing as a transformative player within the mining sector. The ongoing commitment to quality exploration, resource growth, and responsible mining will pave the path for future successes.

For more information about New Found Gold and their upcoming projects, visit www.newfoundgold.ca and their SEDAR+ profile at www.sedarplus.ca.