New Found Gold Corp Stock Price, News & Analysis

New Found Gold Corp. (AMEX:NFGC) has announced an increase in its weighting in the VanEck Junior Gold Miners ETF (GDXJ) from 0.32% to 0.42%, effective March 17, 2023. This change reflects a 31% increase in exposure, providing greater visibility and access to investors.

The Company's Queensway project, a 1,662 km² area in Newfoundland, has a current drilling program of 500,000 meters. It holds around $72 million in cash and marketable securities as of March 2023, ensuring robust funding for exploration initiatives.

New Found Gold Corp. has announced significant results from drill hole NFGC-23-1120 at the Iceberg discovery site, located northeast of Keats Main. The drill hole revealed high-grade gold mineralization, with key intervals showing 49.7 g/t Au over 29.85m and 14.6 g/t Au over 3.80m. These results support the hypothesis that Iceberg may be an extension of the Keats Main zone. The company's Queensway project encompasses over 1,662km2 and is currently undergoing a 500,000m drilling program, with further assays pending. New Found emphasizes the ongoing exploration efforts in search of additional high-grade gold mineralization.

New Found Gold Corp. has announced the discovery of a high-grade gold zone named Iceberg, which is located 300m northeast of Keats Main at its Queensway project in Newfoundland and Labrador. The new discovery features significant gold mineralization, with drill results showing up to 72.15 g/t Au over 9.65m. The Iceberg zone appears to be an extension of the prolific Keats Main and displays similar geological features, prompting increased exploration efforts in the area. Current drilling operations are part of a larger 500,000m program, with 51,500m of core awaiting assay results.

New Found Gold Corp. has filed a National Instrument 43-101 Technical Report for its Queensway Project, effective January 24, 2023. This report updates exploration activities including prospecting, sampling, and diamond drilling since the last report dated May 31, 2022. The project is strategically located 15 km from Gander, Newfoundland, with significant infrastructure support. New Found is conducting a robust 500,000m drilling program and is well-funded with approximately $82 million in cash and securities as of February 2023. The report was prepared by an independent qualified person to ensure compliance with industry standards.

New Found Gold Corp. has inaugurated a new 25,000 sq ft core shack and office facility in Gander, Newfoundland, supporting its ongoing 500,000m drill campaign at the Queensway Project. The facility includes 15,000 sq ft for core processing and 10,000 sq ft of office space, designed for increased operational efficiency. Completed within budget and time, the facility will enhance the Company's exploration capabilities. As of January 2023, New Found has approximately $90 million in cash and securities for the drilling program. The project area spans 1,650 km² and is well-supported by local infrastructure.

New Found Gold Corp. (NFGC) has released results from 37 diamond drill holes at its 100%-owned Queensway project, located near Gander, Newfoundland. Significant gold intercepts were reported from Keats West and Keats North, including grades such as 42.6 g/t Au over 32m and 28.8 g/t Au over 3.45m. The ongoing drilling program aims to extend identified gold mineralization along the Appleton Fault Zone and adjacent areas. The company is undertaking a comprehensive 500,000m drill program, with over 51,000m of core awaiting assay results. These results confirm the potential for further high-grade gold discoveries in this region.

New Found Gold Corp. (NFGC) announced positive results from 51 diamond drill holes conducted at its Queensway project in Newfoundland. This ongoing program targets the highly prospective Appleton Fault Zone (AFZ), revealing significant gold mineralization extending over 4.1 km. Key highlights include intercepts of 72.66 g/t Au over 2.20m in NFGC-22-774 and 79.62 g/t Au over 2.00m in NFGC-22-863. The discovery of the new TCH Zone and a vein named 'Rocket' at Knob showcase potential for further exploration. The company plans to continue aggressive drilling to define high-grade gold zones across the project.

New Found Gold Corp. (NFGC) announced results from 48 diamond drill holes in the Appleton Fault Zone, highlighting significant gold mineralization at Lotto North and Zone 36. Notable findings include drill hole NFGC-22-788, which recorded 16.12 g/t Au over 5.30m, and NFGC-22-753 with 11.38 g/t Au over 3.30m. The ongoing 500,000m drill program aims to expand high-grade mineralization. Additionally, the company updated its at-the-market equity offering, issuing 500,229 shares at an average price of C$5.097, raising over C$2M in net proceeds.