Welcome to our dedicated page for New Found Gold news (Ticker: NFGC), a resource for investors and traders seeking the latest updates and insights on New Found Gold stock.
New Found Gold Corp (NFGC) delivers timely updates on gold exploration activities through this comprehensive news hub. Track press releases, operational developments, and strategic initiatives from the Canadian mineral exploration leader.
This resource provides investors with essential updates including drilling results from the Queensway Project, corporate announcements, and technical insights. Discover detailed reports on resource evaluation progress, exploration methodology enhancements, and partnership developments.
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New Found Gold Corp. (NFGC) announces results from 11 diamond drill holes at the Queensway Project. The deep drilling program, initiated in March, confirms high-grade gold mineralization, extending to 820m depth—doubling the system's known vertical extent. Nine new gold zones were discovered within a 3km strike, with six zones containing visible gold, showing assay values as high as 57.1 g/t Au. Significant intervals include 2.65m at 10.98 g/t Au in Keats South and 2.15m at 12.01 g/t Au in Iceberg-AFZ.
These new zones exhibit epizonal-style gold mineralization, enhancing the 3-D seismic model and improving targeting for future drilling. The company is utilizing directional drilling to expedite follow-up exploration. The ongoing 650,000m drill program aims to further delineate the gold system's extent and improve geological models.
New Found Gold Corp. (TSX-V: NFG, NYSE-A: NFGC) has completed the acquisition of a 100% interest in Labrador Gold’s Kingsway Project, located in Gander, Newfoundland and Labrador. This acquisition includes related assets from LabGold. As consideration, New Found Gold issued 5,263,157 common shares to Labrador Gold. This strategic acquisition is aimed at expanding New Found Gold's asset base and potential resource holdings in a prolific mining region.
New Found Gold Corp. has launched surface trenching at the Iceberg Zone of its Queensway Project in Newfoundland. The trenching will remove 1-12 meters of overburden to expose 220m of strike length over a 105m wide area. This will aid in detailed geological analysis. Excavation is expected to take 8-10 weeks, with mapping set for Q4 2024. Previous drilling has highlighted robust gold grades, including 10.75m at 15.42 g/t Au and 5.85m at 40.51 g/t Au. An ongoing channel sampling at the Keats Zone, started in May 2024, is set to complete by mid-July 2024. Additionally, the company provided an update on its equity offering, issuing 2,925,552 shares at an average of C$4.71, raising C$13.78 million in the last quarter.
New Found Gold Corp. (TSX-V: NFG, NYSE-A: NFGC) has provided an update on its deep drilling program at the 100% owned Queensway Project in Newfoundland. The company has completed 10,345 meters in 12 drill holes since the program began in March, with results pending. Initial drilling targets include Jackpot, Lotto, K2, and Iceberg zones, using 3-D seismic data to guide efforts. The company has engaged Devico AS for advanced directional drilling services, expected to enhance efficiency and reduce costs. VP of Exploration, Melissa Render, emphasized the potential of the Queensway Project and the benefits of incorporating directional drilling technology.
New Found Gold Corp. (NFGC) has settled a lawsuit filed by ThreeD Capital and 1313366 Ontario Inc. against the company, Palisades Goldcorp, and Mr. Collin Kettell. The settlement avoids the costs and uncertainties of a trial scheduled for January 2025. Under the agreement, the plaintiffs will receive 3,750,000 New Found shares. Palisades will transfer 3,379,998 shares, and New Found will issue 370,000 shares, subject to regulatory approval. The shares will be under a four-month hold period. The settlement includes no admission of liability and provides releases for all defendants.
New Found Gold Corp. (TSX-V: NFG, NYSE-A: NFGC) has filed a National Instrument 43-101 technical report for its 100%-owned Queensway Project in Newfoundland and Labrador, Canada. The report, titled 'NI 43-101 Technical Report, New Found Gold Corp.’s Queensway Gold Project: 2024 Exploration Update', has an effective date of April 18, 2024. This update details the company's recent exploration activities, which include prospecting, soil sampling, trenching, channel sampling, diamond drilling, geophysics, and metallurgical testing since the previous report dated January 24, 2023. The report was prepared by independent Qualified Persons and is available on SEDAR+.
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