#Canada #Vancouver #New Found Gold #mining exploration #Queensway Gold

New Found Gold Initiates 2025 Work Program on Queensway Gold Project

New Found Gold Corp. has officially commenced its work program for 2025 on the 100%-owned Queensway Gold Project, located in Newfoundland and Labrador, Canada. With its operations deeply rooted in one of the premier mining regions, the company is set to accelerate its exploration efforts this year, aiming to firmly establish itself as a key player in the gold sector.

Project Overview and Initial Steps

On May 7, 2025, New Found Gold announced the start of this ambitious work program, which includes extensive drilling and excavation activities across several high-priority zones. This announcement comes on the heels of a promising initial mineral resource estimate disclosed earlier in the year, which indicates significant potential for further resource expansion.

Currently, infill drilling is taking place at the Keats West and Lotto zones using four diamond drill rigs, enhancing the company's understanding of the mineral distribution and structural controls. Furthermore, the company plans to mobilize two additional drill rigs by June, ensuring a robust approach to both infill and exploration drilling efforts.

The focus during this drilling phase will not only be on the near-surface areas of Keats West and Lotto but will also extend to uncharted territories such as the Dome and Dropkick zones, where high-grade mineralization has been previously identified. Given the impressive drill results from the Dropkick zone in 2024, which included notable gold grades, the significance of these zones cannot be understated.

Excavation and Sampling Strategies

In tandem with drilling, the Iceberg zone excavation is underway, with dewatering operations currently facilitating channel sampling. The Iceberg area has shown considerable promise, exposing broad bands of gold-bearing quartz veins, which will be pivotal for the company's sampling efforts set to commence later this month.

Excavation of the Keats West and Lotto zones is slated to proceed after the initial drilling phase, where approximately 7 to 14 meters of overburden will be removed to expose the valuable quartz veins beneath.

Melissa Render, the President of New Found Gold, expressed excitement about the project’s momentum, emphasizing the company's strategic shift towards resource development. With initiatives expected to gain traction throughout 2025, stakeholders are looking forward to the tangible outcomes from the company's focused exploration activities.

Future Prospects

As the project progresses, New Found Gold remains proactive in evaluating the potential for additional drilling rigs and expansion of its work program. A fully-funded Preliminary Economic Assessment (PEA) is also on track for completion by late Q2 2025, further solidifying the project's future viability.

Furthermore, the company has officially entered an agreement with Target IR for investor relations services, indicating a commitment to enhancing communication and outreach to its growing shareholder base, which currently includes prominent investors.

With an expansive 175,600-hectare property and the backing of a knowledgeable management team, New Found Gold is positioned for significant growth in the competitive gold mining landscape. By strategically focusing on resource expansion and exploration, the company aims to solidify its foundation in the industry and deliver shareholder value in the forthcoming years.

For more information on New Found Gold and the Queensway Gold Project, visit their official website and stay tuned for upcoming press releases detailing their continued progress and exploration results.