#Canada #New Found Gold #exploration #Newfoundland and Labrador #Queensway

New Found Gold Temporarily Suspends Exploration at Queensway Gold Project

Overview

In a recent announcement, New Found Gold Corp. has declared the temporary halt of all exploration activities involving heavy equipment at its Queensway Gold Project in Newfoundland and Labrador, Canada. This decision comes in light of rising dangers tied to forest fires that are currently affecting the region.

Safety First

The CEO of New Found Gold, Keith Boyle, stated, "The Fire Weather index across Newfoundland is designated as Extreme or Very High, with several significant fires ongoing. Our immediate focus is the well-being of our employees, contractors, and local communities." He extended gratitude to the firefighters bravely combating the raging fires in the area.

The company has curtailed various activities, including drilling, mulching, and excavation, especially in forested zones where the fire risk is particularly high. This decision underscores the company's commitment to safety and environmental responsibility, which remain paramount during such hazardous conditions.

The Queensway Gold Project

New Found Gold holds a 100% interest in the expansive Queensway Gold Project, which spans approximately 175,450 hectares and covers a strike length of 110 kilometers. The project benefits from excellent infrastructure and a skilled local workforce, positioning it as a Tier 1 mining jurisdiction.

Recent drilling activities in the project area have indicated promising potential, revealing new gold discoveries both along the strike and at greater depths. The ongoing success of these drilling programs highlights Queensway's significance in the local mining landscape.

The company has already completed an initial Mineral Resource Estimate (MRE) and Preliminary Economic Assessment (PEA), which were shared with stakeholders earlier in 2025. As exploration resumes, New Found Gold aims to provide further updates and developments from the project as soon as conditions permit.

Moving Forward

While New Found Gold's exploration efforts are temporarily suspended, the company remains steadfast in its commitment to the long-term growth and prosperity of the Queensway project. The management team, strengthened by a solid shareholder base—including renowned investor Eric Sprott—intends to continue focusing on value creation and growth opportunities once it is safe to do so.

In the wake of the current circumstances, the company reassures its stakeholders that comprehensive plans are in place to tackle the temporary suspension of operations, with further communications expected as the situation develops.

In summary, New Found Gold's proactive response to potential wildfire hazards illustrates its dedication to maintaining safety standards and environmental stewardship. The hope is for the forest fires to be extinguished swiftly so exploration activities can recommence, allowing the company to explore the untapped potential that the Queensway Gold Project holds.

Conclusion

New Found Gold's temporary suspension of heavy equipment operations at the Queensway Gold Project represents a critical decision to prioritize safety over immediate exploration goals. The company looks forward to resuming operations when conditions improve, reaffirming its commitment to balancing growth with responsible practices in the mining sector.