71.8 g/t Au over 31.95 m and 76.6 g/t Au over 16.00 m at Iceberg 51.3 g/t Au over 3.40 m and 11.8 g/t Au over 9.95 m at Keats
New Found Gold Corp. (TSXV: NFG) (NYSE American: NFGC) (‘New Found Gold’ or the ‘Company’) is pleased to announce the final results of the Company’s 2025 grade control drill program on its 100%-owned Queensway Gold Project (‘Queensway’ or the ‘Project’) in Newfoundland and Labrador, Canada, including results from the Keats zone (‘Keats’) and Iceberg zone (‘Iceberg’) excavations in the AFZ Core (‘AFZC’), completed as part of the Company’s 2025 drill program.
Iceberg excavation highlights include:
71.8 g/t Au over 31.95 m from 37.80 m (NFGC-25-GC-069)[1]
76.6 g/t Au over 16.00 m from 51.45 m (NFGC-25-GC-055)
44.4 g/t Au over 21.55 m from 13.40 m (NFGC-25-GC-072)
35.4 g/t Au over 21.20 m from 34.95 m (NFGC-25-GC-061)
31.6 g/t Au over 18.65 m from 3.60 m (NFGC-25-GC-106)
40.6 g/t Au over 12.70 m from 40.35 m (NFGC-25-GC-118)
41.1 g/t Au over 11.40 m from 40.40 m (NFGC-25-GC-079)
55.4 g/t Au over 8.30 m from 21.75 m (NFGC-25-GC-107)
43.2 g/t Au over 19.85 m from 16.80 m (NFGC-25-GC-082)
Keats excavation highlights include:
51.3 g/t Au over 3.40 m from 54.60 m (NFGC-25-GC-115)
11.8 g/t Au over 9.95 m from 13.20 m (NFGC-25-GC-065)
9.73 g/t Au over 11.30 m from 9.75 m (NFGC-25-GC-063)
15.9 g/t Au over 5.85 m from 4.90 m (NFGC-25-GC-115)
40.3 g/t Au over 2.25 m from 23.95 m (NFGC-25-GC-068)
16.9 g/t Au over 3.90 m from 1.00 m (NFGC-25-GC-071)
Melissa Render, President of New Found Gold stated: ‘These final results from our highly successful 2025 grade control drill program at the Keats and Iceberg excavations continue to deliver consistently high gold grades over broad widths, returning some of the best intercepts we have drilled to date at Queensway. We continue to systematically de-risk Queensway, as demonstrated by the continuity of high-grade gold mineralization in these at-surface zones targeted for early open pit mining in our 2025 PEA Phase 1 mine plan.’
Work Summary
The results presented in this release include the final 907 m of drilling in 32 diamond drill holes (‘DDH‘) from the Keats excavation (‘KEGCDP‘) and the entirety of the 2,390 m of drilling in 40 DDH from the Iceberg excavation (‘IEGCDP‘) 2025 grade control drill program (Figures 1 to 4). The KEGCDP and IEGCDP were designed to improve confidence in the distribution of high-grade, near- to at-surface gold mineralization and support mine planning as outlined in the 2025 Preliminary Economic Assessment (‘PEA‘) Phase 1 open pits (see the New Found Gold press release dated July 21 2025). Drill highlights, along with detailed results for these 72 DDH, are provided in Tables 1 to 3 below.
The full KEGCDP comprises 2,773 m in 84 DDH; for the previously reported KEGCDP results see the New Found Gold press releases dated December 1, 2025 and February 2, 2026 and highlights below. The full IEGCDP comprises 2,390 m of drilling in 40 DDH and all results are reported in this press release.
The KEGCDP tested a volume that is approximately 65 m long by 30 m deep by 40 m wide and the IEGCDP a volume that is approximately 60 m long by 35 m deep by 40 m wide with a drill spacing of 5 m by 5 m and includes the near- to at-surface high-grade portions of Keats and Iceberg that were exposed as part of the Company’s excavation programs (see the New Found Gold press releases dated September 23, 2024, December 2, 2024, September 25, 2025, December 1, 2025 and February 2, 2026).
Results released to date correlate well with the initial mineral resource estimate (‘MRE‘) block model and indicate strong continuity of -high grade mineralized shoots at both Keats and Iceberg, providing improved definition of their geometry, with most intervals occurring at or within a few meters of surface. The detailed geostatistical data from this phase of work will further validate the resource models, specifically by increasing confidence in grade-capping and influence-limiting parameters applied to high-grade intersections in advance of a MRE update and subsequent mine planning.
The Keats and Iceberg zones are hosted within the Keats-Baseline Fault Zone (‘KBFZ‘), a high-grade gold-bearing structure that has been defined over a current strike length of 1.9 kilometres (‘km‘). This corridor consists of a broad mineralized fault zone with limited deep drill testing to date. Drilling completed in 2024 confirms that the system extends to vertical depths of up to 1.1 km (see the New Found Gold press releases dated July 11, 2024, October 31, 2024, and April 29, 2025).
Figure 1: Plan view map of the AFZC with location of Keats and Iceberg excavation grade control drill programs.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7337/285803_de2d97bbf46729b2_001full.jpg
Iceberg excavation grade control drill program (this press release):
71.8 g/t Au over 31.95 m from 37.80 m (NFGC-25-GC-069)
76.6 g/t Au over 16.00 m from 51.45 m (NFGC-25-GC-055)
44.4 g/t Au over 21.55 m from 13.40 m (NFGC-25-GC-072)
35.4 g/t Au over 21.20 m from 34.95 m (NFGC-25-GC-061)
31.6 g/t Au over 18.65 m from 3.60 m (NFGC-25-GC-106)
40.6 g/t Au over 12.70 m from 40.35 m (NFGC-25-GC-118)
41.1 g/t Au over 11.40 m from 40.40 m (NFGC-25-GC-079)
55.4 g/t Au over 8.30 m from 21.75 m (NFGC-25-GC-107)
43.2 g/t Au over 19.85 m from 16.80 m (NFGC-25-GC-082)
22.6 g/t Au over 17.55 m from 50.45 m (NFGC-25-GC-050)
30.4 g/t Au over 12.90 m from 8.00 m (NFGC-25-GC-112)
11.9 g/t Au over 27.55 m from 27.65 m (NFGC-25-GC-097)
27.3 g/t Au over 11.70 m from 48.90 m (NFGC-25-GC-084)
27.8 g/t Au over 11.45 m from 38.85 m (NFGC-25-GC-067)
120 g/t Au over 2.60 m from 17.15 m (NFGC-25-GC-109)
11.6 g/t Au over 26.15 m from 31.30 m (NFGC-25-GC-058)
30.9 g/t Au over 9.00 m from 32.30 m (NFGC-25-GC-064)
28.1 g/t Au over 9.15 m from 45.15 m (NFGC-25-GC-048)
18.4 g/t Au over 12.85 m from 38.45 m (NFGC-25-GC-076)
26.7 g/t Au over 8.05 m from 16.45 m (NFGC-25-GC-119)
7.56 g/t Au over 23.85 m from 48.15 m (NFGC-25-GC-052)
6.77 g/t Au over 20.05 m from 54.70 m (NFGC-25-GC-046)
12.0 g/t Au over 11.05 m from 33.30 m (NFGC-25-GC-059)
8.55 g/t Au over 15.40 m from 25.40 m (NFGC-25-GC-109)
12.8 g/t Au over 10.10 m from 28.80 m (NFGC-25-GC-113)
13.0 g/t Au over 9.90 m from 13.45 m (NFGC-25-GC-122)
8.26 g/t Au over 12.55 m from 63.00 m (NFGC-25-GC-087)
11.1 g/t Au over 9.05 m from 14.40 m (NFGC-25-GC-123)
16.9 g/t Au over 4.15 m from 29.60 m (NFGC-25-GC-121)
5.17 g/t Au over 12.40 m from 17.00 m (NFGC-25-GC-124)
6.70 g/t Au over 9.20 m from 42.80 m (NFGC-25-GC-087)
8.38 g/t Au over 6.85 m from 15.35 m (NFGC-25-GC-074)
15.5 g/t Au over 3.65 m from 71.95 m (NFGC-25-GC-043)
3.88 g/t Au over 13.10 m from 31.15 m (NFGC-25-GC-074)
17.5 g/t Au over 2.80 m from 40.95 m (NFGC-25-GC-084)
20.1 g/t Au over 2.35 m from 69.80 m (NFGC-25-GC-085)
18.0 g/t Au over 2.30 m from 41.80 m (NFGC-25-GC-085)
15.0 g/t Au over 2.70 m from 23.75 m (NFGC-25-GC-058)
19.7 g/t Au over 2.05 m from 4.35 m (NFGC-25-GC-122)
13.3 g/t Au over 2.85 m from 69.15 m (NFGC-25-GC-048)
14.3 g/t Au over 2.60 m from 12.60 m (NFGC-25-GC-107)
11.9 g/t Au over 2.80 m from 65.20 m (NFGC-25-GC-079)
2.21 g/t Au over 11.55 m from 14.10 m (NFGC-25-GC-079)
11.7 g/t Au over 2.20 m from 57.35 m (NFGC-25-GC-079)
Keats excavation grade control drill program (this press release):
51.3 g/t Au over 3.40 m from 54.60 m (NFGC-25-GC-115)
11.8 g/t Au over 9.95 m from 13.20 m (NFGC-25-GC-065)
9.73 g/t Au over 11.30 m from 9.75 m (NFGC-25-GC-063)
15.9 g/t Au over 5.85 m from 4.90 m (NFGC-25-GC-115)
40.3 g/t Au over 2.25 m from 23.95 m (NFGC-25-GC-068)
16.9 g/t Au over 3.90 m from 1.00 m (NFGC-25-GC-071)
4.22 g/t Au over 10.35 m from 5.65 m (NFGC-25-GC-066)
2.56 g/t Au over 15.95 m from 0.00 m (NFGC-25-GC-100)
14.5 g/t Au over 2.45 m from 10.00 m (NFGC-25-GC-096)
1.41 g/t Au over 20.25 m from 20.45 m (NFGC-25-GC-102)
1.73 g/t Au over 15.45 m from 4.20 m (NFGC-25-GC-062)
2.37 g/t Au over 10.60 m from 23.70 m (NFGC-25-GC-111)
Figure 2: Keats and Iceberg excavations with grade control drill hole highlights.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7337/285803_de2d97bbf46729b2_002full.jpg
Figure 3: Keats longitudinal section view of grade control drill hole traces (looking northwest, +/- 12.5 m).
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7337/285803_de2d97bbf46729b2_003full.jpg
Figure 4: Iceberg longitudinal section view of grade control drill hole traces (looking northwest, +/- 12.5 m).
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7337/285803_de2d97bbf46729b2_004full.jpg
Looking Ahead
The 2025 Queensway drill program included 74,377 m of drilling in 614 DDH, with approximately 75% of the drilling focused on the AFZC to support advancement of the Phase 1 mine plan as outlined in the PEA and 25% focused on exploration targets such as the Dropkick zone (‘Dropkick‘). To date, approximately 45% of the results from 2025 drilling remain outstanding, in addition to channel sampling results from the Lotto excavation. These results will be reported once available.
The 2026 Queensway drill program is underway, with four drill rigs currently active (see the New Found Gold press release dated January 21, 2026). Initial 2026 infill drilling is planned to first target PEA Phase 2 open pit resource conversion, transitioning later in the year to PEA Phase 3 underground resource conversion.
The Company plans to expand its grade control drilling beginning in Q2/26. The next phase of work will leverage results from the 2025 program to optimize drill hole spacing and program scope. This will include completing grade-control drilling at the Iceberg excavation, commencing grade-control drilling at the Lotto excavation and potentially expanding the grade-control drilling at the Keats and Iceberg excavations. The objective of this work is to improve confidence in the distribution of gold mineralization and support mine planning as outlined for the PEA Phase 1 open pits.
Exploration drilling will focus on AFZC resource expansion including an initial grid-based program targeting the prospective corridor adjacent to the AFZ at Bullseye, continued step-outs at Dropkick, located 11 km north of the AFZC, and targeted segments of the AFZ at AFZ Peripheral. A regional drilling program testing advanced targets at Queensway South is in the planning phase and expected to commence in H2/26.
The Company plans to file an updated Technical Report for Queensway, which will include an updated mineral resource estimate, in Q3/26
Table 1: Drill Result Highlights.
KEATS MAIN EXCAVATION
Hole No.
From (m)
To (m)
Interval (m)
Au (g/t)
True Width (%)
Zone
NFGC-25-GC-062
4.20
19.65
15.45
1.73
70-95
Keats Excavation
NFGC-25-GC-063
9.75
21.05
11.30
9.73
70-95
Keats Excavation
Including
14.50
15.50
1.00
92.27
70-95
NFGC-25-GC-065
13.20
23.15
9.95
11.81
55-85
Keats Excavation
Including
13.20
14.10
0.90
111.64
55-85
NFGC-25-GC-066
5.65
16.00
10.35
4.22
70-95
Keats Excavation
Including
5.65
6.20
0.55
23.75
70-95
Including
10.10
11.10
1.00
24.78
70-95
NFGC-25-GC-068
23.95
26.20
2.25
40.34
70-95
Keats Excavation
Including
24.40
24.80
0.40
167.68
70-95
Including
25.20
25.50
0.30
70.49
70-95
NFGC-25-GC-071
1.00
4.90
3.90
16.91
35-65
Keats Excavation
Including
1.85
3.40
1.55
38.19
35-65
NFGC-25-GC-096
10.00
12.45
2.45
14.45
65-95
Keats Excavation
Including
11.40
11.75
0.35
91.40
65-95
NFGC-25-GC-100
0.00
15.95
15.95
2.56
70-95
Keats Excavation
Including
9.40
9.85
0.45
20.86
70-95
NFGC-25-GC-102
20.45
40.70
20.25
1.41
30-60
Keats Excavation
Including
29.65
30.30
0.65
14.98
30-60
NFGC-25-GC-111
23.70
34.30
10.60
2.37
65-95
Keats Excavation
Including
29.40
30.15
0.75
11.27
65-95
NFGC-25-GC-115
4.90
10.75
5.85
15.85
60-90
Keats Excavation
Including
4.90
5.35
0.45
199.16
60-90
And
54.60
58.00
3.40
51.30
70-95
Including
54.60
55.20
0.60
31.18
70-95
Including
55.55
56.10
0.55
278.07
70-95
ICEBERG EXCAVATION
Hole No.
From (m)
To (m)
Interval (m)*
Au (g/t)
True Width (%)
Zone
NFGC-25-GC-043
71.95
75.60
3.65
15.51
25-55
Iceberg Excavation
Including
73.85
75.60
1.75
28.81
25-55
NFGC-25-GC-046
54.70
74.75
20.05
6.77
40-70
Iceberg Excavation
Including
72.50
73.30
0.80
87.06
40-70
Including
74.00
74.75
0.75
44.69
40-70
NFGC-25-GC-048
45.15
54.30
9.15
28.07
70-95
Iceberg Excavation
Including
50.70
53.20
2.50
97.72
70-95
And
69.15
72.00
2.85
13.31
70-95
Including
69.15
70.00
0.85
11.37
70-95
Including
71.00
72.00
1.00
20.37
70-95
NFGC-25-GC-050
50.45
68.00
17.55
22.63
55-85
Iceberg Excavation
Including
51.20
53.10
1.90
65.51
55-85
Including
53.60
54.40
0.80
27.50
55-85
Including
56.80
57.20
0.40
162.33
55-85
Including
57.80
58.70
0.90
36.99
55-85
Including
63.90
66.40
2.50
31.79
70-95
Including
66.80
68.00
1.20
45.11
70-95
NFGC-25-GC-052
48.15
72.00
23.85
7.56
70-95
Iceberg Excavation
Including
48.60
49.20
0.60
12.26
70-95
Including
61.15
63.70
2.55
17.00
70-95
Including
64.40
65.20
0.80
74.21
70-95
Including
68.05
69.80
1.75
12.94
70-95
Including
71.50
72.00
0.50
38.44
70-95
NFGC-25-GC-055
51.45
67.45
16.00
76.58
70-95
Iceberg Excavation
Including
51.45
52.85
1.40
12.54
70-95
Including
55.40
55.70
0.30
63.77
70-95
Including
61.30
61.90
0.60
49.84
70-95
Including
63.50
67.45
3.95
288.48
70-95
And Including
63.50
64.25
0.75
656.59
70-95
NFGC-25-GC-058
23.75
26.45
2.70
14.99
70-95
Iceberg Excavation
Including
24.40
25.35
0.95
43.11
70-95
And
31.30
57.45
26.15
11.62
70-95
Including
37.75
38.65
0.90
16.38
70-95
Including
40.35
42.30
1.95
53.55
70-95
Including
43.15
44.65
1.50
28.64
70-95
Including
49.80
51.00
1.20
28.67
70-95
Including
55.85
56.65
0.80
86.44
70-95
NFGC-25-GC-059
33.30
44.35
11.05
11.97
70-95
Iceberg Excavation
Including
35.00
35.45
0.45
12.52
70-95
Including
35.95
37.45
1.50
29.60
70-95
Including
38.90
39.55
0.65
68.85
70-95
Including
42.65
43.10
0.45
54.16
50-80
NFGC-25-GC-061
34.95
56.15
21.20
35.41
70-95
Iceberg Excavation
Including
37.80
38.25
0.45
65.62
70-95
Including
42.70
44.00
1.30
77.08
70-95
Including
45.10
46.15
1.05
67.24
70-95
Including
48.95
49.75
0.80
76.23
70-95
Including
50.65
51.35
0.70
107.85
60-90
Including
52.35
55.60
3.25
118.45
60-90
NFGC-25-GC-064
32.30
41.30
9.00
30.85
70-95
Iceberg Excavation
Including
32.30
32.75
0.45
61.96
70-95
Including
33.30
34.10
0.80
223.22
70-95
Including
38.90
40.45
1.55
30.62
70-95
NFGC-25-GC-067
38.85
50.30
11.45
27.84
70-95
Iceberg Excavation
Including
39.85
40.80
0.95
16.17
70-95
Including
41.60
42.85
1.25
38.25
70-95
Including
45.20
46.55
1.35
125.72
70-95
Including
49.70
50.30
0.60
119.07
70-95
NFGC-25-GC-069
37.80
69.75
31.95
71.81
70-95
Iceberg Excavation
Including
39.10
42.65
3.55
80.55
70-95
Including
47.95
48.90
0.95
28.97
70-95
Including
51.35
53.45
2.10
154.03
70-95
And Including
51.35
51.90
0.55
512.64
70-95
Including
56.80
57.40
0.60
50.45
70-95
Including
59.45
60.20
0.75
90.53
70-95
Including
63.15
69.75
6.60
230.17
70-95
And Including
66.20
67.80
1.60
595.58
70-95
NFGC-25-GC-072
13.40
34.95
21.55
44.44
70-95
Iceberg Excavation
Including
13.40
14.10
0.70
75.07
65-95
Including
22.60
23.10
0.50
116.62
70-95
Including
24.20
25.85
1.65
22.27
70-95
Including
27.70
28.50
0.80
14.00
70-95
Including
29.35
31.40
2.05
215.32
70-95
Including
32.35
32.90
0.55
632.87
55-85
NFGC-25-GC-074
15.35
22.20
6.85
8.38
70-95
Iceberg Excavation
Including
15.35
16.00
0.65
16.06
70-95
Including
16.70
17.90
1.20
30.26
70-95
And
31.15
44.25
13.10
3.88
70-95
Including
35.60
37.10
1.50
22.24
70-95
NFGC-25-GC-076
38.45
51.30
12.85
18.43
70-95
Iceberg Excavation
Including
39.30
39.75
0.45
10.23
70-95
Including
48.40
48.85
0.45
81.00
40-70
Including
50.50
51.30
0.80
199.19
40-70
NFGC-25-GC-079
14.10
25.65
11.55
2.21
70-95
Iceberg Excavation
Including
25.35
25.65
0.30
61.54
70-95
And
40.40
51.80
11.40
41.12
70-95
Including
40.40
40.70
0.30
10.76
70-95
Including
41.35
42.35
1.00
37.25
70-95
Including
43.00
43.70
0.70
14.36
70-95
Including
47.90
48.40
0.50
629.44
70-95
Including
48.70
50.30
1.60
55.71
50-80
And
57.35
59.55
2.20
11.74
50-80
Including
57.90
59.55
1.65
15.56
50-80
And
65.20
68.00
2.80
11.87
25-55
Including
65.20
66.80
1.60
18.64
25-55
NFGC-25-GC-082
16.80
36.65
19.85
43.18
65-95
Iceberg Excavation
Including
17.50
19.40
1.90
221.81
65-95
Including
24.65
25.00
0.35
14.10
70-95
Including
31.00
34.00
3.00
122.53
70-95
Including
34.55
35.20
0.65
35.33
70-95
NFGC-25-GC-084
40.95
43.75
2.80
17.51
70-95
Iceberg Excavation
Including
41.40
43.00
1.60
27.24
70-95
And
48.90
60.60
11.70
27.31
70-95
Including
48.90
51.65
2.75
77.18
70-95
Including
57.90
60.60
2.70
38.29
60-90
NFGC-25-GC-085
41.80
44.10
2.30
17.99
65-95
Iceberg Excavation
Including
42.55
42.90
0.35
114.28
65-95
And
69.80
72.15
2.35
20.05
70-95
Including
70.80
71.50
0.70
65.13
70-95
NFGC-25-GC-087
42.80
52.00
9.20
6.70
70-95
Iceberg Excavation
Including
50.90
51.25
0.35
138.45
70-95
And
63.00
75.55
12.55
8.26
70-95
Including
63.80
65.20
1.40
19.78
70-95
Including
66.05
67.75
1.70
36.86
70-95
NFGC-25-GC-097
27.65
55.20
27.55
11.88
70-95
Iceberg Excavation
Including
31.35
33.90
2.55
27.91
70-95
Including
34.45
35.95
1.50
36.04
70-95
Including
43.40
43.80
0.40
20.09
70-95
Including
54.75
55.20
0.45
321.59
70-95
NFGC-25-GC-101
40.00
53.90
13.90
1.53
70-95
Iceberg Excavation
Including
41.15
41.55
0.40
12.16
70-95
NFGC-25-GC-106
3.60
22.25
18.65
31.61
70-95
Iceberg Excavation
Including
3.60
4.55
0.95
239.28
60-90
Including
10.25
10.90
0.65
15.83
70-95
Including
14.30
15.05
0.75
44.82
70-95
Including
17.60
22.25
4.65
65.59
70-95
NFGC-25-GC-107
12.60
15.20
2.60
14.30
70-95
Iceberg Excavation
Including
12.60
14.35
1.75
17.81
70-95
And
21.75
30.05
8.30
55.43
70-95
Including
21.75
22.60
0.85
53.65
70-95
Including
23.60
24.15
0.55
141.09
70-95
Including
24.45
24.90
0.45
750.76
70-95
NFGC-25-GC-109
17.15
19.75
2.60
120.13
70-95
Iceberg Excavation
Including
17.80
18.95
1.15
304.86
70-95
And
25.40
40.80
15.40
8.55
70-95
Including
25.40
25.75
0.35
22.77
70-95
Including
27.45
28.00
0.55
13.75
70-95
Including
31.35
32.30
0.95
88.66
70-95
NFGC-25-GC-112
8.00
20.90
12.90
30.43
65-95
Iceberg Excavation
Including
8.00
10.55
2.55
18.90
70-95
Including
15.60
16.10
0.50
27.20
65-95
Including
16.40
17.90
1.50
118.75
65-95
Including
19.40
20.50
1.10
133.35
65-95
NFGC-25-GC-113
28.80
38.90
10.10
12.82
70-95
Iceberg Excavation
Including
28.80
29.30
0.50
18.48
70-95
Including
30.25
31.30
1.05
25.09
70-95
Including
31.80
32.70
0.90
83.17
70-95
NFGC-25-GC-118
40.35
53.05
12.70
40.56
40-70
Iceberg Excavation
Including
50.35
53.05
2.70
186.54
40-70
And Including
52.55
53.05
0.50
807.23
40-70
NFGC-25-GC-119
16.45
24.50
8.05
26.71
70-95
Iceberg Excavation
Including
17.90
19.90
2.00
97.22
70-95
Including
20.90
21.80
0.90
12.15
70-95
NFGC-25-GC-121
29.60
33.75
4.15
16.92
70-95
Iceberg Excavation
Including
32.35
33.25
0.90
74.82
70-95
NFGC-25-GC-122
4.35
6.40
2.05
19.72
70-95
Iceberg Excavation
Including
4.70
6.40
1.70
23.64
70-95
And
13.45
23.35
9.90
12.98
60-90
Including
14.40
17.20
2.80
34.57
60-90
Including
18.00
18.50
0.50
32.38
60-90
NFGC-25-GC-123
14.40
23.45
9.05
11.06
70-95
Iceberg Excavation
Including
17.60
19.20
1.60
52.51
70-95
NFGC-25-GC-124
17.00
29.40
12.40
5.17
70-95
Iceberg Excavation
Including
18.80
20.30
1.50
30.32
70-95
Note that the host structures are interpreted to be moderately to steeply dipping. Infill veining in secondary structures with multiple orientations crosscutting the primary host structures are commonly observed in drill core which could result in additional uncertainty in true width. Composite intervals reported carry a minimum weighted average of 1 g/t Au diluted over a minimum core length of 2 m with a maximum of 4 m consecutive dilution when above 200 m vertical depth and 2 m consecutive dilution when below 200 m vertical depth. Included high-grade intercepts are reported as any consecutive interval with grades greater than 10 g/t Au. Grades have not been capped in the averaging and intervals are reported as drill thickness. Details of all drill holes reported in this press release are included in Table 2 and Table 3 below.
Table 2: Summary of composite drill hole results reported in this press release for Keats and Iceberg.
KEATS MAIN EXCAVATION
Hole No.
From (m)
To (m)
Interval (m)
Au (g/t)
True Width (%)
Zone
NFGC-25-GC-056
2.65
6.15
3.50
4.41
70-95
Keats Excavation
Including
2.65
3.30
0.65
17.64
70-95
NFGC-25-GC-060
No Significant Values
Keats Excavation
NFGC-25-GC-062
4.20
19.65
15.45
1.73
70-95
Keats Excavation
NFGC-25-GC-063
9.75
21.05
11.30
9.73
70-95
Keats Excavation
Including
14.50
15.50
1.00
92.27
70-95
NFGC-25-GC-065
13.20
23.15
9.95
11.81
55-85
Keats Excavation
Including
13.20
14.10
0.90
111.64
55-85
NFGC-25-GC-066
5.65
16.00
10.35
4.22
70-95
Keats Excavation
Including
5.65
6.20
0.55
23.75
70-95
Including
10.10
11.10
1.00
24.78
70-95
NFGC-25-GC-068
23.95
26.20
2.25
40.34
70-95
Keats Excavation
Including
24.40
24.80
0.40
167.68
70-95
Including
25.20
25.50
0.30
70.49
70-95
NFGC-25-GC-070
No Significant Values
Keats Excavation
NFGC-25-GC-071
1.00
4.90
3.90
16.91
35-65
Keats Excavation
Including
1.85
3.40
1.55
38.19
35-65
And
10.65
13.55
2.90
1.42
35-65
NFGC-25-GC-073
1.70
7.05
5.35
3.47
65-95
Keats Excavation
Including
4.85
5.30
0.45
29.03
65-95
NFGC-25-GC-075
0.25
3.00
2.75
2.31
70-95
Keats Excavation
NFGC-25-GC-078
7.95
14.15
6.20
3.82
70-95
Keats Excavation
Including
9.85
10.45
0.60
11.66
70-95
NFGC-25-GC-080
0.00
2.25
2.25
1.65
70-95
Keats Excavation
And
7.10
9.40
2.30
1.69
70-95
And
17.60
23.05
5.45
3.72
70-95
NFGC-25-GC-081
1.90
4.65
2.75
8.37
45-75
Keats Excavation
Including
2.90
3.90
1.00
19.70
45-75
And
14.45
19.85
5.40
3.86
70-95
Including
19.40
19.85
0.45
13.57
70-95
NFGC-25-GC-083
48.70
51.30
2.60
1.04
70-95
Keats Excavation
NFGC-25-GC-086
15.60
19.00
3.40
1.01
15-45
Keats Excavation
And
26.15
34.85
8.70
1.28
70-95
NFGC-25-GC-088
No Significant Values
Keats Excavation
NFGC-25-GC-089
No Significant Values
Keats Excavation
NFGC-25-GC-091
No Significant Values
Keats Excavation
NFGC-25-GC-092
0.00
2.20
2.20
1.97
65-95
Keats Excavation
NFGC-25-GC-094
11.90
15.30
3.40
2.73
65-95
Keats Excavation
Including
12.90
13.35
0.45
12.88
65-95
NFGC-25-GC-095
31.20
34.00
2.80
1.54
70-95
Keats Excavation
And
37.00
39.15
2.15
4.87
70-95
Including
38.15
38.60
0.45
18.78
70-95
NFGC-25-GC-096
10.00
12.45
2.45
14.45
65-95
Keats Excavation
Including
11.40
11.75
0.35
91.40
65-95
NFGC-25-GC-098
18.40
28.00
9.60
2.35
60-90
Keats Excavation
Including
26.40
27.10
0.70
12.97
60-90
And
32.60
41.10
8.50
2.02
60-90
Including
33.60
34.00
0.40
11.28
60-90
NFGC-25-GC-100
0.00
15.95
15.95
2.56
70-95
Keats Excavation
Including
9.40
9.85
0.45
20.86
70-95
NFGC-25-GC-102
20.45
40.70
20.25
1.41
30-60
Keats Excavation
Including
29.65
30.30
0.65
14.98
30-60
NFGC-25-GC-103
1.25
10.85
9.60
2.17
70-95
Keats Excavation
Including
10.15
10.85
0.70
11.95
70-95
And
14.15
16.75
2.60
1.11
70-95
And
25.40
28.05
2.65
1.04
70-95
NFGC-25-GC-105
0.00
2.30
2.30
3.85
Unknown
Keats Excavation
Including
0.00
0.40
0.40
21.96
Unknown
And
16.15
18.50
2.35
1.50
70-95
NFGC-25-GC-108
8.15
14.25
6.10
1.72
70-95
Keats Excavation
NFGC-25-GC-110
No Significant Values
Keats Excavation
NFGC-25-GC-111
23.70
34.30
10.60
2.37
65-95
Keats Excavation
Including
29.40
30.15
0.75
11.27
65-95
And
37.80
40.70
2.90
6.29
50-80
Including
40.25
40.70
0.45
32.18
50-80
NFGC-25-GC-115
4.90
10.75
5.85
15.85
60-90
Keats Excavation
Including
4.90
5.35
0.45
199.16
60-90
And
42.60
45.35
2.75
1.55
70-95
And
54.60
58.00
3.40
51.30
70-95
Including
54.60
55.20
0.60
31.18
70-95
Including
55.55
56.10
0.55
278.07
70-95
ICEBERG EXCAVATION
Hole No.
From (m)
To (m)
Interval (m)
Au (g/t)
True Width (%)
Zone
NFGC-25-GC-043
58.70
62.60
3.90
2.44
55-85
Iceberg Excavation
And
71.95
75.60
3.65
15.51
25-55
Including
73.85
75.60
1.75
28.81
25-55
NFGC-25-GC-046
54.70
74.75
20.05
6.77
40-70
Iceberg Excavation
Including
72.50
73.30
0.80
87.06
40-70
Including
74.00
74.75
0.75
44.69
40-70
NFGC-25-GC-048
19.50
21.55
2.05
1.39
70-95
Iceberg Excavation
And
24.00
26.55
2.55
1.06
70-95
And
45.15
54.30
9.15
28.07
70-95
Including
50.70
53.20
2.50
97.72
70-95
And
58.70
61.00
2.30
1.07
70-95
And
69.15
72.00
2.85
13.31
70-95
Including
69.15
70.00
0.85
11.37
70-95
Including
71.00
72.00
1.00
20.37
70-95
And
78.00
80.00
2.00
1.15
70-95
NFGC-25-GC-050
40.00
46.35
6.35
1.54
70-95
Iceberg Excavation
And
50.45
68.00
17.55
22.63
55-85
Including
51.20
53.10
1.90
65.51
55-85
Including
53.60
54.40
0.80
27.50
55-85
Including
56.80
57.20
0.40
162.33
55-85
Including
57.80
58.70
0.90
36.99
55-85
Including
63.90
66.40
2.50
31.79
70-95
Including
66.80
68.00
1.20
45.11
70-95
NFGC-25-GC-052
36.80
42.75
5.95
1.60
70-95
Iceberg Excavation
And
48.15
72.00
23.85
7.56
70-95
Including
48.60
49.20
0.60
12.26
70-95
Including
61.15
63.70
2.55
17.00
70-95
Including
64.40
65.20
0.80
74.21
70-95
Including
68.05
69.80
1.75
12.94
70-95
Including
71.50
72.00
0.50
38.44
70-95
NFGC-25-GC-055
39.50
47.40
7.90
3.35
70-95
Iceberg Excavation
Including
46.20
47.10
0.90
18.55
70-95
And
51.45
67.45
16.00
76.58
70-95
Including
51.45
52.85
1.40
12.54
70-95
Including
55.40
55.70
0.30
63.77
70-95
Including
61.30
61.90
0.60
49.84
70-95
Including
63.50
67.45
3.95
288.48
70-95
And Including
63.50
64.25
0.75
656.59
70-95
NFGC-25-GC-058
23.75
26.45
2.70
14.99
70-95
Iceberg Excavation
Including
24.40
25.35
0.95
43.11
70-95
And
31.30
57.45
26.15
11.62
70-95
Including
37.75
38.65
0.90
16.38
70-95
Including
40.35
42.30
1.95
53.55
70-95
Including
43.15
44.65
1.50
28.64
70-95
Including
49.80
51.00
1.20
28.67
70-95
Including
55.85
56.65
0.80
86.44
70-95
NFGC-25-GC-059
18.70
26.10
7.40
1.96
70-95
Iceberg Excavation
And
33.30
44.35
11.05
11.97
70-95
Including
35.00
35.45
0.45
12.52
70-95
Including
35.95
37.45
1.50
29.60
70-95
Including
38.90
39.55
0.65
68.85
70-95
Including
42.65
43.10
0.45
54.16
50-80
NFGC-25-GC-061
34.95
56.15
21.20
35.41
70-95
Iceberg Excavation
Including
37.80
38.25
0.45
65.62
70-95
Including
42.70
44.00
1.30
77.08
70-95
Including
45.10
46.15
1.05
67.24
70-95
Including
48.95
49.75
0.80
76.23
70-95
Including
50.65
51.35
0.70
107.85
60-90
Including
52.35
55.60
3.25
118.45
60-90
NFGC-25-GC-064
20.00
22.20
2.20
1.25
70-95
Iceberg Excavation
And
32.30
41.30
9.00
30.85
70-95
Including
32.30
32.75
0.45
61.96
70-95
Including
33.30
34.10
0.80
223.22
70-95
Including
38.90
40.45
1.55
30.62
70-95
NFGC-25-GC-067
18.25
21.45
3.20
1.26
70-95
Iceberg Excavation
And
38.85
50.30
11.45
27.84
70-95
Including
39.85
40.80
0.95
16.17
70-95
Including
41.60
42.85
1.25
38.25
70-95
Including
45.20
46.55
1.35
125.72
70-95
Including
49.70
50.30
0.60
119.07
70-95
NFGC-25-GC-069
37.80
69.75
31.95
71.81
70-95
Iceberg Excavation
Including
39.10
42.65
3.55
80.55
70-95
Including
47.95
48.90
0.95
28.97
70-95
Including
51.35
53.45
2.10
154.03
70-95
And Including
51.35
51.90
0.55
512.64
70-95
Including
56.80
57.40
0.60
50.45
70-95
Including
59.45
60.20
0.75
90.53
70-95
Including
63.15
69.75
6.60
230.17
70-95
And Including
66.20
67.80
1.60
595.58
70-95
And
79.00
81.15
2.15
2.69
Unknown
Including
80.65
81.15
0.50
10.78
Unknown
NFGC-25-GC-072
13.40
34.95
21.55
44.44
70-95
Iceberg Excavation
Including
13.40
14.10
0.70
75.07
65-95
Including
22.60
23.10
0.50
116.62
70-95
Including
24.20
25.85
1.65
22.27
70-95
Including
27.70
28.50
0.80
14.00
70-95
Including
29.35
31.40
2.05
215.32
70-95
Including
32.35
32.90
0.55
632.87
55-85
NFGC-25-GC-074
15.35
22.20
6.85
8.38
70-95
Iceberg Excavation
Including
15.35
16.00
0.65
16.06
70-95
Including
16.70
17.90
1.20
30.26
70-95
And
31.15
44.25
13.10
3.88
70-95
Including
35.60
37.10
1.50
22.24
70-95
NFGC-25-GC-076
19.85
26.20
6.35
1.01
70-95
Iceberg Excavation
And
38.45
51.30
12.85
18.43
70-95
Including
39.30
39.75
0.45
10.23
70-95
Including
48.40
48.85
0.45
81.00
40-70
Including
50.50
51.30
0.80
199.19
40-70
NFGC-25-GC-079
14.10
25.65
11.55
2.21
70-95
Iceberg Excavation
Including
25.35
25.65
0.30
61.54
70-95
And
40.40
51.80
11.40
41.12
70-95
Including
40.40
40.70
0.30
10.76
70-95
Including
41.35
42.35
1.00
37.25
70-95
Including
43.00
43.70
0.70
14.36
70-95
Including
47.90
48.40
0.50
629.44
70-95
Including
48.70
50.30
1.60
55.71
50-80
And
57.35
59.55
2.20
11.74
50-80
Including
57.90
59.55
1.65
15.56
50-80
And
65.20
68.00
2.80
11.87
25-55
Including
65.20
66.80
1.60
18.64
25-55
NFGC-25-GC-082
16.80
36.65
19.85
43.18
65-95
Iceberg Excavation
Including
17.50
19.40
1.90
221.81
65-95
Including
24.65
25.00
0.35
14.10
70-95
Including
31.00
34.00
3.00
122.53
70-95
Including
34.55
35.20
0.65
35.33
70-95
NFGC-25-GC-084
16.80
19.75
2.95
5.23
70-95
Iceberg Excavation
And
40.95
43.75
2.80
17.51
70-95
Including
41.40
43.00
1.60
27.24
70-95
And
48.90
60.60
11.70
27.31
70-95
Including
48.90
51.65
2.75
77.18
70-95
Including
57.90
60.60
2.70
38.29
60-90
NFGC-25-GC-085
19.30
22.20
2.90
2.63
70-95
Iceberg Excavation
And
41.80
44.10
2.30
17.99
65-95
Including
42.55
42.90
0.35
114.28
65-95
And
57.65
62.60
4.95
8.16
70-95
Including
62.15
62.60
0.45
51.19
70-95
And
69.80
72.15
2.35
20.05
70-95
Including
70.80
71.50
0.70
65.13
70-95
NFGC-25-GC-087
6.00
8.20
2.20
1.73
Unknown
Iceberg Excavation
And
18.15
20.70
2.55
1.78
70-95
And
42.80
52.00
9.20
6.70
70-95
Including
50.90
51.25
0.35
138.45
70-95
And
63.00
75.55
12.55
8.26
70-95
Including
63.80
65.20
1.40
19.78
70-95
Including
66.05
67.75
1.70
36.86
70-95
NFGC-25-GC-090
58.00
66.55
8.55
2.48
65-95
Iceberg Excavation
Including
61.50
62.00
0.50
11.23
65-95
NFGC-25-GC-093
56.35
62.40
6.05
6.74
70-95
Iceberg Excavation
Including
57.00
58.00
1.00
15.35
70-95
Including
60.70
61.70
1.00
17.92
70-95
NFGC-25-GC-097
21.30
24.15
2.85
1.07
70-95
Iceberg Excavation
And
27.65
55.20
27.55
11.88
70-95
Including
31.35
33.90
2.55
27.91
70-95
Including
34.45
35.95
1.50
36.04
70-95
Including
43.40
43.80
0.40
20.09
70-95
Including
54.75
55.20
0.45
321.59
70-95
NFGC-25-GC-099
2.00
4.10
2.10
1.02
Unknown
Iceberg Excavation
And
43.00
45.20
2.20
2.40
70-95
NFGC-25-GC-101
15.65
20.50
4.85
1.15
70-95
Iceberg Excavation
And
40.00
53.90
13.90
1.53
70-95
Including
41.15
41.55
0.40
12.16
70-95
NFGC-25-GC-104
42.15
44.45
2.30
1.23
70-95
Iceberg Excavation
NFGC-25-GC-106
3.60
22.25
18.65
31.61
70-95
Iceberg Excavation
Including
3.60
4.55
0.95
239.28
60-90
Including
10.25
10.90
0.65
15.83
70-95
Including
14.30
15.05
0.75
44.82
70-95
Including
17.60
22.25
4.65
65.59
70-95
NFGC-25-GC-107
12.60
15.20
2.60
14.30
70-95
Iceberg Excavation
Including
12.60
14.35
1.75
17.81
70-95
And
21.75
30.05
8.30
55.43
70-95
Including
21.75
22.60
0.85
53.65
70-95
Including
23.60
24.15
0.55
141.09
70-95
Including
24.45
24.90
0.45
750.76
70-95
NFGC-25-GC-109
11.00
13.00
2.00
2.31
70-95
Iceberg Excavation
And
17.15
19.75
2.60
120.13
70-95
Including
17.80
18.95
1.15
304.86
70-95
And
25.40
40.80
15.40
8.55
70-95
Including
25.40
25.75
0.35
22.77
70-95
Including
27.45
28.00
0.55
13.75
70-95
Including
31.35
32.30
0.95
88.66
70-95
NFGC-25-GC-112
0.00
2.35
2.35
1.03
70-95
Iceberg Excavation
And
8.00
20.90
12.90
30.43
65-95
Including
8.00
10.55
2.55
18.90
70-95
Including
15.60
16.10
0.50
27.20
65-95
Including
16.40
17.90
1.50
118.75
65-95
Including
19.40
20.50
1.10
133.35
65-95
NFGC-25-GC-113
28.80
38.90
10.10
12.82
70-95
Iceberg Excavation
Including
28.80
29.30
0.50
18.48
70-95
Including
30.25
31.30
1.05
25.09
70-95
Including
31.80
32.70
0.90
83.17
70-95
And
44.50
47.15
2.65
8.17
50-80
Including
46.30
46.60
0.30
56.91
50-80
NFGC-25-GC-116
8.00
11.70
3.70
1.10
70-95
Iceberg Excavation
And
28.40
38.30
9.90
3.74
70-95
Including
28.85
30.05
1.20
23.28
70-95
NFGC-25-GC-117
24.30
29.50
5.20
5.24
70-95
Iceberg Excavation
Including
24.30
25.70
1.40
16.38
70-95
NFGC-25-GC-118
3.75
9.15
5.40
1.16
70-95
Iceberg Excavation
And
27.40
34.25
6.85
4.43
70-95
And
40.35
53.05
12.70
40.56
40-70
Including
50.35
53.05
2.70
186.54
40-70
And Including
52.55
53.05
0.50
807.23
40-70
NFGC-25-GC-119
3.40
8.00
4.60
8.81
70-95
Iceberg Excavation
Including
6.10
8.00
1.90
19.32
70-95
And
16.45
24.50
8.05
26.71
70-95
Including
17.90
19.90
2.00
97.22
70-95
Including
20.90
21.80
0.90
12.15
70-95
NFGC-25-GC-120
21.70
24.20
2.50
1.09
60-90
Iceberg Excavation
And
31.00
37.00
6.00
3.08
60-90
Including
31.00
32.45
1.45
12.53
60-90
NFGC-25-GC-121
6.35
10.20
3.85
1.35
70-95
Iceberg Excavation
And
29.60
33.75
4.15
16.92
70-95
Including
32.35
33.25
0.90
74.82
70-95
NFGC-25-GC-122
4.35
6.40
2.05
19.72
70-95
Iceberg Excavation
Including
4.70
6.40
1.70
23.64
70-95
And
13.45
23.35
9.90
12.98
60-90
Including
14.40
17.20
2.80
34.57
60-90
Including
18.00
18.50
0.50
32.38
60-90
NFGC-25-GC-123
14.40
23.45
9.05
11.06
70-95
Iceberg Excavation
Including
17.60
19.20
1.60
52.51
70-95
NFGC-25-GC-124
9.40
11.65
2.25
1.09
70-95
Iceberg Excavation
And
17.00
29.40
12.40
5.17
70-95
Including
18.80
20.30
1.50
30.32
70-95
Note that the host structures are interpreted to be moderately to steeply dipping. Infill veining in secondary structures with multiple orientations crosscutting the primary host structures are commonly observed in drill core which could result in additional uncertainty in true width. Composite intervals reported carry a minimum weighted average of 1 g/t Au diluted over a minimum core length of 2 m with a maximum of 4 m consecutive dilution when above 200 m vertical depth and 2 m consecutive dilution when below 200 m vertical depth. Included high-grade intercepts are reported as any consecutive interval with grades greater than 10 g/t Au. Grades have not been capped in the averaging and intervals are reported as drill thickness.
Table 3 Details of drill holes reported in this press release.
Hole No.
Azimuth (°)
Dip (°)
Length (m)
UTM E
UTM N
Zone
NFGC-25-GC-043
300
-45
108
658419
5427780
Iceberg
NFGC-25-GC-046
300
-45
99
658422
5427785
Iceberg
NFGC-25-GC-048
300
-45
84
658427
5427793
Iceberg
NFGC-25-GC-050
300
-45
76
658429
5427797
Iceberg
NFGC-25-GC-052
300
-45
76
658432
5427802
Iceberg
NFGC-25-GC-055
299
-45.2
75
658437
5427805
Iceberg
NFGC-25-GC-056
300
-45
13
658181
5427527
Keats
NFGC-25-GC-058
300
-45
63
658437
5427810
Iceberg
NFGC-25-GC-059
299
-45.5
51
658436
5427817
Iceberg
NFGC-25-GC-060
300
-45
11
658248
5427541
Keats
NFGC-25-GC-061
300
-45
61
658442
5427814
Iceberg
NFGC-25-GC-062
298
-45.2
21
658182
5427521
Keats
NFGC-25-GC-063
299
-45
26
658177
5427512
Keats
NFGC-25-GC-064
299
-45.5
59
658441
5427819
Iceberg
NFGC-25-GC-065
299
-45
36
658186
5427516
Keats
NFGC-25-GC-066
299
-45
21
658171
5427516
Keats
NFGC-25-GC-067
299
-45.5
67
658449
5427815
Iceberg
NFGC-25-GC-068
300
-45
34
658228
5427546
Keats
NFGC-25-GC-069
300
-45
83
658444
5427807
Iceberg
NFGC-25-GC-070
300
-45
18
658213
5427555
Keats
NFGC-25-GC-071
300
-45
23
658172
5427521
Keats
NFGC-25-GC-072
300
-45
42
658434
5427824
Iceberg
NFGC-25-GC-073
300
-45
15
658166
5427519
Keats
NFGC-25-GC-074
300
-45
67
658430
5427815
Iceberg
NFGC-25-GC-075
300
-45
13
658176
5427525
Keats
NFGC-25-GC-076
300
-45
63
658425
5427806
Iceberg
NFGC-25-GC-078
300
-45
21
658179
5427516
Keats
NFGC-25-GC-079
299
-45
84
658426
5427806
Iceberg
NFGC-25-GC-080
300
-45
31
658231
5427550
Keats
NFGC-25-GC-081
300
-45
27
658223
5427549
Keats
NFGC-25-GC-082
300
-45
42
658429
5427821
Iceberg
NFGC-25-GC-083
300
-45
54
658248
5427535
Keats
NFGC-25-GC-084
299
-45
85
658420
5427797
Iceberg
NFGC-25-GC-085
300
-45
79
658417
5427793
Iceberg
NFGC-25-GC-086
300
-45
39
658237
5427547
Keats
NFGC-25-GC-087
299
-45
78
658415
5427789
Iceberg
NFGC-25-GC-088
299
-45
19
658246
5427530
Keats
NFGC-25-GC-089
299
-45
25
658225
5427554
Keats
NFGC-25-GC-090
299
-45
71
658414
5427772
Iceberg
NFGC-25-GC-091
299
-45
15
658216
5427559
Keats
NFGC-25-GC-092
299
-45
16
658243
5427526
Keats
NFGC-25-GC-093
299
-45
69
658417
5427776
Iceberg
NFGC-25-GC-094
299
-45
21
658218
5427552
Keats
NFGC-25-GC-095
299
-45
52
658240
5427533
Keats
NFGC-25-GC-096
299
-45
23
658221
5427556
Keats
NFGC-25-GC-097
300
-45
60
658431
5427808
Iceberg
NFGC-25-GC-098
298
-45
48
658239
5427540
Keats
NFGC-25-GC-099
300
-45
58
658412
5427785
Iceberg
NFGC-25-GC-100
300
-45
23
658190
5427533
Keats
NFGC-25-GC-101
300
-45
58
658410
5427780
Iceberg
NFGC-25-GC-102
300
-45
47
658235
5427536
Keats
NFGC-25-GC-103
300
-45
31
658198
5427529
Keats
NFGC-25-GC-104
300
-45
61
658407
5427776
Iceberg
NFGC-25-GC-105
300
-45
26
658217
5427547
Keats
NFGC-25-GC-106
300
-45
28
658427
5427827
Iceberg
NFGC-25-GC-107
300
-45
38
658423
5427819
Iceberg
NFGC-25-GC-108
300
-45
24
658187
5427524
Keats
NFGC-25-GC-109
300
-45.5
48
658423
5427814
Iceberg
NFGC-25-GC-110
300
-45
24
658252
5427527
Keats
NFGC-25-GC-111
300
-45
48
658238
5427529
Keats
NFGC-25-GC-112
300
-45
27
658422
5427825
Iceberg
NFGC-25-GC-113
300
-45
50
658415
5427806
Iceberg
NFGC-25-GC-115
300
-45
59
658242
5427521
Keats
NFGC-25-GC-116
300
-45
51
658411
5427802
Iceberg
NFGC-25-GC-117
300
-45
56
658408
5427798
Iceberg
NFGC-25-GC-118
300
-45
59
658406
5427794
Iceberg
NFGC-25-GC-119
300
-45
32
658413
5427817
Iceberg
NFGC-25-GC-120
300
-45
44
658401
5427785
Iceberg
NFGC-25-GC-121
300
-45
50
658399
5427781
Iceberg
NFGC-25-GC-122
300
-45
25
658414
5427824
Iceberg
NFGC-25-GC-123
300
-45
30
658408
5427816
Iceberg
NFGC-25-GC-124
300
-45
37
658406
5427811
Iceberg
Sampling, Sub-sampling, and Laboratory
All drilling recovers HQ core. For deep holes, the core size may be reduced to NQ at depth. The drill core is split in half using a diamond saw or a hydraulic splitter for rare intersections with incompetent core.
A geologist examines the drill core and marks out the intervals to be sampled and the cutting line. Sample lengths are mostly 1.0 meter and adjusted to respect lithological and/or mineralogical contacts and isolate narrow (<1.0m) veins or other structures that may yield higher grades.
Technicians saw the core along the defined cutting line. One half of the core is kept as a witness sample and the other half is submitted for analysis. Individual sample bags are sealed and placed into totes, which are then sealed and marked with the contents.
New Found Gold has submitted samples for gold determination by PhotonAssay to ALS Canada Ltd. (‘ALS‘) since February 2024. ALS operates under a commercial contract with New Found Gold.
Drill core samples are shipped to ALS for sample preparation in Thunder Bay, Ontario. ALS does not currently have accreditation for the PhotonAssay method at their Thunder Bay, ON laboratory. They do however have ISO/IEC 17025 (2017) accreditation for gamma ray analysis of samples for gold at their Australian labs with this method, including the Canning Vale lab in Perth, WA.
Samples submitted to ALS beginning in February 2024 received gold analysis by photon assay whereby the entire sample is crushed to approximately 70% passing 2 mm mesh. The sample is then riffle split and transferred into jars. For ‘routine’ samples that do not have VG identified and are not within a mineralized zone, one (300-500g) jar is analyzed by photon assay. If the jar assays greater than 0.8 g/t, the remaining crushed material is weighed into multiple jars and submitted for photon assay.
For samples that have VG identified, the entire crushed sample is riffle split and weighed into multiple jars that are submitted for photon assay. The assays from all jars are combined on a weight-averaged basis.
Select samples prepared at ALS are also analyzed for a multi-element ICP package (ALS method code ME-ICP61) at ALS Vancouver.
Drill program design, Quality Assurance/Quality Control, and interpretation of results are performed by qualified persons employing a rigorous Quality Assurance/Quality Control program consistent with industry best practices. Standards and blanks account for a minimum of 10% of the samples in addition to the laboratory’s internal quality assurance programs.
Quality Control data are evaluated on receipt from the laboratories for failures. Appropriate action is taken if assay results for standards and blanks fall outside allowed tolerances. All results stated have passed New Found Gold’s quality control protocols.
New Found Gold’s quality control program also includes submission of the second half of the core for approximately 2% of the drilled intervals. In addition, approximately 1% of sample pulps for mineralized samples are submitted for re-analysis to a second ISO-accredited laboratory for check assays.
The Company does not recognize any factors of drilling, sampling, or recovery that could materially affect the accuracy or reliability of the assay data disclosed.
The assay data disclosed in this press release have been verified by the Company’s Qualified Person against the original assay certificates.
Qualified Person
The scientific and technical information disclosed in this press release was reviewed and approved by Melissa Render, P. Geo., President, and a Qualified Person as defined under National Instrument 43-101. Ms. Render consents to the publication of this press release by New Found Gold. Ms. Render certifies that this press release fairly and accurately represents the scientific and technical information that forms the basis for this press release.
About New Found Gold Corp.
New Found Gold is an emerging Canadian gold producer with assets in Newfoundland and Labrador, Canada. The Company holds a 100% interest in Queensway and the Hammerdown Gold Project, which includes fully permitted milling and tailings facilities. The Company is currently focused on advancing its flagship Queensway to production and bringing the Hammerdown deposit into commercial gold production.
In July 2025, the Company completed a PEA at Queensway (see New Found Gold press release dated July 21, 2025). Recent drilling continues to yield new discoveries along strike and down dip of known gold zones, pointing to the district-scale potential that covers a +110 km strike extent along two prospective fault zones at Queensway.
Through 2025 New Found Gold built a new board of directors and management team and has a solid shareholder base which includes cornerstone investor Eric Sprott. The Company is focused on growth and value creation.
Keith Boyle, P.Eng.
Chief Executive Officer
New Found Gold Corp.
Contact
For further information on New Found Gold, please visit the Company’s website at www.newfoundgold.ca, contact us through our investor inquiry form at https://newfoundgold.ca/contact/contact-us/ or contact:
Fiona Childe, Ph.D., P.Geo.
Vice President, Communications and Corporate Development
Phone: +1 (416) 910-4653
Email: contact@newfoundgold.ca
Follow us on social media at
https://www.linkedin.com/company/newfound-gold-corp
https://x.com/newfoundgold
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statement Cautions
This press release contains certain ‘forward-looking statements’ within the meaning of Canadian securities legislation, including relating to the Company’s 2025 drill program on its Queensway Gold Project in Newfoundland and Labrador, Canada, and the timing, results, and interpretation and use of the results; planned reporting of the remaining results from 2025 drilling and channel sampling from the Lotto excavation; the excavation program and the timing and results thereof; future drill and excavation programs and the timing and focus thereof; exploration, drilling and mineralization at Queensway; the extent of mineralization and the continuity of high-grade gold mineralization; the potential conversion of mineral resources; the potential resource expansion; planned filing of an updated Technical Report for Queensway, including a mineral resource update, and the timing thereof; focus on growth and value creation; and the merits of Queensway. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words ‘expects’, ‘plans’, ‘anticipates’, ‘believes’, ‘interpreted’, ‘intends’, ‘estimates’, ‘projects’, ‘aims’, ‘suggests’, ‘indicate’, ‘often’, ‘target’, ‘future’, ‘likely’, ‘pending’, ‘potential’, ‘encouraging’, ‘goal’, ‘objective’, ‘prospective’, ‘possibly’, ‘preliminary’, and similar expressions, or that events or conditions ‘will’, ‘would’, ‘may’, ‘can’, ‘could’ or ‘should’ occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made, and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSXV, the Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include risks associated with the Company’s ability to complete exploration and drilling programs as expected, possible accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, risks associated with the interpretation of exploration results and the results of the metallurgical testing program, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company’s exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company’s business and prospects. The reader is urged to refer to the Company’s Annual Information Form and Management’s Discussion and Analysis, publicly available through the Canadian Securities Administrators’ System for Electronic Document Analysis and Retrieval (SEDAR+) at www.sedarplus.ca for a more complete discussion of such risk factors and their potential effects.
1 g/t Au = grams of gold per tonne, m = metres.
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