New Found Gold Files Hammerdown Gold Project NI 43-101 Technical Report
Rhea-AI Summary
New Found Gold (NYSE American: NFGC) filed a NI 43-101 technical report titled "Hammerdown Gold Project Preliminary Economic Assessment" with an effective date of February 18, 2026 and filing dated March 17, 2026.
The report covers the Company’s 100% owned Hammerdown project and was prepared by WSP Canada Inc., authored by multiple independent Qualified Persons.
Positive
- Filed NI 43-101 PEA for Hammerdown with effective date Feb 18, 2026
- Hammerdown is 100% owned by New Found Gold
- WSP Canada Inc. prepared the Technical Report with independent Qualified Persons
Negative
- None.
News Market Reaction – NFGC
On the day this news was published, NFGC declined 2.71%, reflecting a moderate negative market reaction. Argus tracked a trough of -5.0% from its starting point during tracking. Our momentum scanner triggered 20 alerts that day, indicating elevated trading interest and price volatility. This price movement removed approximately $20M from the company's valuation, bringing the market cap to $704M at that time. Trading volume was above average at 1.9x the daily average, suggesting increased trading activity.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
NFGC fell 3.49% while peers showed mixed moves: DC -0.53%, GROY -0.76%, IDR -0.63%, but CMCL and GAU gained 2.11% and 1.95%. This pattern points to stock-specific pressure rather than a uniform gold-sector move.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Mar 05 | Debt funding term sheet | Positive | -3.9% | Announced up to US$75M senior secured facility to advance Queensway development. |
| Feb 26 | Hammerdown PEA release | Positive | -5.7% | Reported PEA and updated mineral resource estimate for Hammerdown Gold Project. |
| Feb 02 | Queensway drill results | Positive | +0.7% | Released additional high‑grade grade-control results from Keats zone at Queensway. |
| Jan 26 | EPCM contract Queensway | Positive | +0.6% | Entered Phase 1 EPCM contract with WSP Canada to advance Queensway project. |
| Jan 21 | Drill program restart | Positive | -1.6% | Restarted 2026 Queensway drill program and reported K2 infill drilling results. |
Recent history shows multiple positive operational/development updates followed by either muted or negative price reactions, with three divergences versus two alignments.
Over the past few months, New Found Gold has advanced both its Queensway and Hammerdown projects through drilling, engineering, and economic studies. A Jan 21 update on the 2026 Queensway drill program and K2 infill results, and a Feb 2 high‑grade Keats drill release, supported project derisking. The Feb 26 Hammerdown PEA and Mar 5 US$75M term sheet further outlined development and financing plans, yet near-term price reactions often skewed negative, framing today’s NI 43‑101 technical report filing within a pattern of constructive news but uneven share performance.
Market Pulse Summary
This announcement formalizes the Hammerdown Gold Project technical report under NI 43‑101, following February’s Preliminary Economic Assessment and updated mineral resource estimate. It consolidates geological, engineering, cost, and economic data prepared by independent Qualified Persons. In context of recent Queensway drilling, EPCM contracting, and financing steps, investors may focus on how these technical documents support development decisions, project economics, and upcoming resource and technical updates across the portfolio.
Key Terms
ni 43-101 regulatory
technical report technical
preliminary economic assessment technical
sedar+ regulatory
edgar regulatory
qualified person regulatory
AI-generated analysis. Not financial advice.
Vancouver, British Columbia--(Newsfile Corp. - March 17, 2026) - New Found Gold Corp. (TSXV: NFG) (NYSE American: NFGC) ("New Found Gold" or the "Company") is pleased to announce that, further to its press release dated February 26, 2026, the Company has filed a technical report for its
The Technical Report has been filed in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101"). A copy of the Technical Report is available under the Company's SEDAR+ profile at www.sedarplus.ca and on the EDGAR system of the SEC at www.sec.gov.
The Technical Report was prepared by WSP Canada Inc. and authored by: Stephen Coates, P.Eng., Christian Beaulieu, P.Geo., Michael Levy, P.Eng., Chafana Hamed Sako, P.Geo., James Guiraud, P.Geo., Stacy J. Freudigmann, P.Eng., Sheldon H. Smith, P.Geo., J. Alex Mcintyre, P.Eng., Neil J. Lincoln, P.Eng., Dachun (David) Jin, P.Eng. and William Richard McBride, P.Eng., each a "Qualified Person" as defined under NI 43-101 and independent of New Found Gold.
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
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.
Throughout 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 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 and https://x.com/newfoundgold.
Qualified Person
The scientific and technical information disclosed in this press release was reviewed and approved by Keith Boyle, P.Eng., CEO, and a Qualified Person as defined under NI 43-101. Mr. Boyle consents to the publication of this press release by New Found Gold. Mr. Boyle certifies that this press release fairly and accurately represents the scientific and technical information that forms the basis for this press release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Information
This press release contains certain "forward-looking statements" within the meaning of Canadian and United States securities legislation, including statements including statements regarding advancing Queensway to production and bringing Hammerdown deposit into commercial gold production; statements regarding recent drilling results and district-scale potential that covers a +110 km strike extent along two prospective fault zones at Queensway; and the Company's focus on growth and value creation. 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 TSX Venture Exchange, 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/288726
FAQ
When was the Hammerdown Gold Project NI 43-101 technical report effective (NFGC)?
Where can investors access the Hammerdown PEA technical report for NFGC?
Who prepared the Hammerdown Preliminary Economic Assessment filed by New Found Gold (NFGC)?
What does filing an NI 43-101 Technical Report mean for NFGC shareholders?
