New Found Gold Grade Control Drilling Continues to Deliver At-Surface High Grade Gold over Broad Widths at Queensway:
Executive Summary
- New Found Gold released the final results of its 2025 grade‑control drilling program on the 100 % owned Queensway project, reporting numerous high‑grade gold intercepts that reinforce the continuity of near‑surface mineralization targeted for early open‑pit mining.
- The Iceberg zone delivered multiple intercepts exceeding 70 g/t Au over wide intervals (e.g., 71.8 g/t Au over 31.95 m, 76.6 g/t Au over 16.00 m), while the Keats zone also returned several >10 g/t Au shoots, supporting the resource model used in the July 2025 PEA.
- The company plans to expand grade‑control drilling in Q2 2026 and commence additional infill and exploration programs (Dropkick, Bullseye, AFZ Peripheral) to further de‑risk the project and update its technical report in Q3 2026.
Key Details
- Iceberg excavation highlights (selected high‑grade intercepts):
- 71.8 g/t Au over 31.95 m from 37.80 m (Hole 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)
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120 g/t Au over 2.60 m from 17.15 m (NFGC‑25‑GC‑109)
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Keats excavation highlights (selected intercepts):
- 51.3 g/t Au over 3.40 m from 54.60 m (NFGC‑25‑GC‑115)
- 40.3 g/t Au over 2.25 m from 23.95 m (NFGC‑25‑GC‑068)
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16.9 g/t Au over 3.90 m from 1.00 m (NFGC‑25‑GC‑071)
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Drill program scope:
- Final 907 m of drilling in 32 DDH for Keats and full 2,390 m in 40 DDH for Iceberg were completed; total 2025 grade‑control effort comprised 74,377 m in 614 DDH across the Queensway project.
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Drill spacing was 5 m × 5 m, targeting near‑surface high‑grade shoots to support Phase 1 open‑pit mine planning (PEA).
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Geological context:
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Both zones lie within the Keats‑Baseline Fault Zone (≈1.9 km strike) that extends to ~1.1 km depth; host structures are moderately to steeply dipping with secondary veining potentially affecting true width estimates.
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Future work:
- Q2 2026: expand grade‑control drilling at Iceberg, commence at Lotto excavation, and consider further expansion at Keats/Iceberg.
- Exploration focus for 2026 includes AFZC resource expansion (Bullseye corridor), step‑out drilling at Dropkick, and peripheral targets; regional program at Queensway South slated for H2 2026.
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Updated Technical Report with revised mineral resource estimate planned for Q3 2026.
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Management comment: Melissa Render, President, emphasized that the results “continue to deliver consistently high gold grades over broad widths” and that they “systematically de‑risk Queensway” ahead of early open‑pit mining.
Notable Quotes
“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.” – Melissa Render, President
Materiality Assessment: Material – Positive (high‑grade, near‑surface intercepts materially improve confidence in the resource and support imminent mine planning).