Greg Matheson, New Found Gold’s chief operating officer, says the “outstanding intervals” of hole NFGC-20-59 were the highest width x grade of any hole to date at Keats. “These intervals provide further drill confirmation of the substantial zone of near-surface, high-grade gold mineralization at the north end of Keats,” he adds.
Another interval of 41.8 g/t over 2m in hole NFGC-21-105B provides further drill confirmation of the continuity of high-grade gold mineralization from sub-crop at bedrock surface at the north of Keats to the furthest interval 350m down plunge at approximately 170m vertical depth.
Step-out drilling at Keats continues down plunge. Holes NFGC-21-165 and NFGC-21-182 are the deepest holes completed to date testing to approximately 425m in the down plunge direction. Infill drilling is also progressing, particularly targeting between the plunging dilation zone and surface.
Two weeks earlier, the company reported an interval of 261.3 g/t Au over 7.2m in hole NFGC-21-137, which at the time set a new record from the Keats drilling in terms of the grade x width metric, eclipsing the 92.7 g/t Au over 19m intersected in late 2019.
Shares of New Found Gold surged over 12% to an all-time high of C$8.26 on Tuesday. The Newfoundland-focused gold explorer has become a billion-dollar company with a market capitalization of C$1.2 billion.
