#Canada #Vancouver #New Found Gold #Dropkick Zone #Queensway

New Found Gold's Breakthrough Drill Results at Queensway Project

New Found Gold Corp. has announced exciting new drill results at its wholly owned Queensway Gold Project located in Newfoundland and Labrador, Canada. The recent exploration program has revealed significant mineralization in the Dropkick and Pistachio zones, further establishing the project's potential for future resource expansion.

Highlights of the Drill Results

This latest round of drilling, part of a broader exploration initiative, included notable highlights such as:

• - Dropkick Zone: 42.8 g/t Au over 14.95 m (NFGC-24-2225)
• - 47.6 g/t Au over 3.95 m (NFGC-24-2214)
• - 22.9 g/t Au over 2.40 m (NFGC-24-2205)

Drawing attention is the Dropkick mineralization, which has now been successfully intersected over an impressive 580 m strike length and is open in every direction for further exploration.

In a first for the project, gold mineralization has been identified both west and east of the Appleton Fault Zone (AFZ), marking a significant milestone in the company's exploratory efforts. A good example is found in a recent intersection east of the fault, which returned 5.30 g/t Au over 15.20 m (NFGC-24-2233), opening up opportunities for future investigation.

Expansion at Pistachio Zone

The Pistachio zone is also showing promise, with a recorded intersection of 5.34 g/t Au over 7.30 m (NFGC-24-2190). This area spans a strike length of 240 m and is described as open down-dip and to depth, highlighting its untapped potential.

Melissa Render, President of New Found Gold, expressed her enthusiasm about these findings, stating, "These strong results reinforce our confidence in the Dropkick and Pistachio zones. As we have discovered gold mineralization in both the western and eastern sections of the AFZ, we are optimistic about the future resource expansion possibilities along this highly mineralized system."

Detailed Drilling Insights

Results from a total of 38 diamond drill holes (DDH), encompassing 13,768 m, were included in this latest announcement. Various drilling techniques aimed to target new high-grade mineralization, further delineating known gold-bearing structures while exploring the potential extensions of these zones.

Drilling at Dropkick followed earlier discoveries, including standout holes reporting high gold grades such as NFGC-24-2197 with 89.5 g/t Au over 5.85 m, emphasizing the area’s strong mineral potential. Meanwhile, drilling into the north end of Dropkick has yielded continuous positive results, further strengthening its viability.

At Pistachio, continuous step-out drilling has illustrated the area's high-grade mineralization extending by an impressive 40 m down-dip, aligning with the company's focus on maximizing the resource potential across the expansive site.

Looking Ahead

New Found Gold is positioning itself for a busy exploration calendar, with follow-up drilling scheduled to commence in June 2025. This exploratory phase will include additional testing at the soil anomaly situated north of the Pistachio zone, underscoring the company's commitment to unlocking further discoveries within the extensive Queensway project.

By enhancing its understanding of the mineral potential at Queensway, New Found Gold is solidifying its foundation for sustainable growth and value creation. The preliminary economic assessment for the Queensway project is already underway, with completion slated for late Q2 2025.

With results such as these, New Found Gold is certainly a company to watch in the mining landscape as it continues to uncover the riches hidden within Canada's promising geological framework.