New Found Intercepts 41.2 g/t Au over 4.75 m and 25.4 g/t Au over 5.15 m in New High-Grade Discovery at the Lotto Zone, Located 2 km North of the High-Grade Keats Discovery, Queensway Project, Newfoundland
Vancouver, British Columbia--(Newsfile Corp. - October 2, 2020) - New Found Gold Corp. (TSXV: NFG) ("New Found" or the "Company") is pleased to announce results from NFGC-20-17, the first drill hole targeting the Lotto Zone ("Lotto") as part of New Found's recently commenced 100,000 m diamond drill program at its 100% owned Queensway High-Grade Gold Project ("Queensway"), 15 km west of Gander, Newfoundland.
Two separate near surface, intervals of intense quartz veining with significant sulfide and visible gold were assayed on a rush basis and returned 41.2 g/t Au over 4.75m starting at 35 m down hole depth and 25.4 g/t Au over 5.15 m starting at 57 m down hole depth (see Figure 1). The orientation of these veins is uncertain and true widths may vary from 50% to 80%.
Similar to the high-grade gold mineralization at Keats, the high-grade gold mineralization at Lotto displays characteristics suggestive of an epizonal orogenic depositional environment.
- Category: Silver / Gold
- Published: 02 October 2020
- Written by Editor