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Share Name | Share Symbol | Market | Type |
---|---|---|---|
New Found Gold Corporation | AMEX:NFGC | AMEX | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
-0.12 | -3.43% | 3.38 | 3.50 | 3.36 | 3.48 | 236,709 | 01:00:00 |
New Found Gold Corp. (“New Found” or the “Company”) (TSX-V: NFG, NYSE-A: NFGC) is pleased to announce the results from 51 diamond drill holes that were completed as part of a drill program designed to expand and further define domains of high-grade gold mineralization at the K2 Zone located 725m north of Lotto and 2.2km north of Keats West on the west side of the highly prospective Appleton Fault Zone (“AFZ”). New Found’s 100%-owned Queensway project comprises a 1,665 km2 area, accessible via the Trans-Canada Highway, 15km west of Gander, Newfoundland and Labrador.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240410546708/en/
Figure 1: Photos of mineralization from Left: at ~224.5m in NFGC-23-1647, Right: at ~147.4m in NFGC-23-1883 ^Note that these photos are not intended to be representative of gold mineralization in NFGC-23-1647 and NFGC-23-1883. (Photo: Business Wire)
K2 Highlights:
Hole No.
From (m)
To (m)
Interval (m)
Au (g/t)
Zone
NFGC-23-16451
23.65
39.00
15.35
2.87
K2
Including
30.45
31.15
0.70
24.30
NFGC-23-16473
204.30
207.00
2.70
27.68
K2
Including
205.00
205.60
0.60
124.50
And1
223.80
237.65
13.85
3.26
Including
223.80
224.55
0.75
24.50
NFGC-23-16501
20.70
25.05
4.35
4.03
K2
Including
24.35
25.05
0.70
10.55
And1
37.85
47.65
9.80
3.23
Including
39.30
39.90
0.60
11.20
And1
52.80
62.50
9.70
1.82
And1
77.70
82.45
4.75
7.85
Including
79.10
80.40
1.30
16.12
NFGC-23-16621
38.00
48.05
10.05
1.46
K2
NFGC-23-17991
44.55
57.90
13.35
1.90
K2
NFGC-23-18181
26.75
30.75
4.00
7.31
K2
Including
26.75
28.05
1.30
18.06
NFGC-23-18721
110.25
119.80
9.55
2.63
K2
Including
110.75
111.40
0.65
11.60
Including
116.30
116.95
0.65
10.65
NFGC-23-18832
147.10
151.60
4.50
14.52
K2
Including
147.10
147.65
0.55
111.62
NFGC-23-19181
95.20
107.45
12.25
1.91
K2
NFGC-23-19511
179.00
194.65
15.65
1.71
K2
NFGC-23-19621
190.35
201.95
11.60
2.79
K2
Including
190.35
190.65
0.30
56.70
And2
211.85
213.90
2.05
26.26
Including
212.40
212.90
0.50
106.50
And4
256.85
259.10
2.25
31.19
Including
257.20
257.55
0.35
198.50
NFGC-23-19711
195.10
198.15
3.05
15.58
K2
Including
195.10
195.70
0.60
68.80
NFGC-23-19791
144.60
147.10
2.50
9.61
K2
Including
145.55
146.55
1.00
23.20
NFGC-23-19861
85.85
88.35
2.50
16.01
K2
Including
85.85
86.15
0.30
130.14
And2
167.70
181.15
13.45
17.77
Including
172.15
174.30
2.15
93.96
Including
180.80
181.15
0.35
17.02
NFGC-23-19973
233.15
237.75
4.60
12.69
K2
Including
233.15
234.10
0.95
32.36
Including
234.65
235.15
0.50
27.10
And1
243.40
290.60
47.20
1.23
NFGC-23-20041
152.20
172.00
19.80
1.27
K2
NFGC-24-20072
33.90
44.10
10.20
1.45
K2
NFGC-24-20101
59.45
74.00
14.55
3.75
K2
Including
60.90
61.25
0.35
24.34
Including
62.00
62.35
35.00
10.54
NFGC-24-20193
29.80
37.00
7.20
1.45
K2
And1
66.75
77.95
11.20
1.86
Including
77.40
77.95
0.55
16.54
And1
105.00
114.00
9.00
1.11
NFGC-24-20413
13.55
15.85
2.30
21.19
K2
Including
14.40
15.85
1.45
33.37
Table 1: K2 Drilling Highlights
Note that the host structures are interpreted to be steeply dipping and true widths are generally estimated to be 170% to 95% and 240% to 70%. 3True widths are unknown at this time. Infill veining in secondary structures with multiple orientations crosscutting the primary host structures are commonly observed in drill core which could result in additional uncertainty in true width. Composite intervals reported carry a minimum weighted average of 1 g/t Au diluted over a minimum core length of 2m with a maximum of 4m consecutive dilution when above 200m vertical depth and 2m consecutive dilution when below 200m vertical depth. Included high-grade intercepts are reported as any consecutive interval with grades greater than 10 g/t Au. Grades have not been capped in the averaging and intervals are reported as drill thickness.
Melissa Render, VP of Exploration of New Found, stated: “K2 is an expansive and complex structure with a sizeable associated damage zone. Our growing understanding of this evolving zone has led to better targeting of high-grade domains and allowed us to expand on them and look for new areas that either were overstepped or found outside of the prior drill footprint. Recognizing the significance of the Glenwood Shear Zone has proven to be another important revelation, where K2 seems to have developed between it and the AFZ. This relationship is likely an important one to understand and opens the possibility that the Glenwood, like the AFZ is another conduit for channelling gold bearing fluids. Exploration will continue in the greater K2 area, both looking to extend K2 to depth, in addition to looking below it and adjacent to the Glenwood Shear Zone. Follow-up drilling is also planned on several interesting gold-bearing fault zones that were identified during our reconnaissance grid drilling program completed on the west side of the AFZ.”
Drillhole Details
Hole No.
From (m)
To (m)
Interval (m)
Au (g/t)
Zone
NFGC-23-1557
No Significant Values
Monte Carlo
NFGC-22-9471
170.10
172.30
2.20
1.53
K2
And1
175.55
177.60
2.05
1.22
And1
236.75
238.85
2.10
4.67
Including
236.75
237.55
0.80
10.31
And2
260.95
263.00
2.05
1.37
NFGC-23-1640
No Significant Values
K2
NFGC-23-16421
75.50
80.80
5.30
1.35
K2
NFGC-23-16451
23.65
39.00
15.35
2.87
K2
Including
30.45
31.15
0.70
24.30
NFGC-23-16474
23.00
26.00
3.00
1.22
Everest
And4
204.30
207.00
2.70
27.68
K2
Including
205.00
205.60
0.60
124.50
And1
223.80
237.65
13.85
3.26
Including
223.80
224.55
0.75
24.50
NFGC-23-16501
20.70
25.05
4.35
4.03
K2
Including
24.35
25.05
0.70
10.55
And1
37.85
47.65
9.80
3.23
Including
39.30
39.90
0.60
11.20
And1
52.80
62.50
9.70
1.82
And1
77.70
82.45
4.75
7.85
Including
79.10
80.40
1.30
16.12
NFGC-23-16511
49.95
52.25
2.30
1.45
K2
NFGC-23-16594
45.60
48.30
2.70
1.21
K2
And1
70.65
74.85
4.20
2.51
Including
74.40
74.85
0.45
12.20
NFGC-23-16621
20.65
22.85
2.20
1.02
K2
And1
38.00
48.05
10.05
1.46
NFGC-23-16881
81.10
86.00
4.90
1.79
K2
And1
110.95
113.25
2.30
1.30
And2
132.20
134.20
2.00
1.52
NFGC-23-17991
44.55
57.90
13.35
1.90
K2
And1
67.85
71.80
3.95
1.01
And1
142.20
144.95
2.75
1.31
NFGC-23-18031
12.30
14.90
2.60
1.19
K2
And2
26.85
29.00
2.15
1.08
NFGC-23-1812
No Significant Values
K2
NFGC-23-18141
45.90
48.30
2.40
2.29
K2
NFGC-23-18181
26.75
30.75
4.00
7.31
K2
Including
26.75
28.05
1.30
18.06
NFGC-23-18221
73.05
75.55
2.50
1.52
K2
And1
83.55
91.15
7.60
1.08
And1
118.65
121.00
2.35
1.57
And1
125.00
128.85
3.85
4.14
Including
126.00
126.70
0.70
15.60
NFGC-23-18292
162.80
168.00
5.20
1.15
K2
NFGC-23-18721
101.80
104.50
2.70
1.06
K2
And1
110.25
119.80
9.55
2.63
Including
110.75
111.40
0.65
11.60
Including
116.30
116.95
0.65
10.65
And2
169.35
171.60
2.25
2.16
And2
217.65
219.85
2.20
1.48
NFGC-23-18831
117.20
119.55
2.35
1.17
K2
And1
126.50
131.05
4.55
1.11
And2
147.10
151.60
4.50
14.52
Including
147.10
147.65
0.55
111.62
NFGC-23-18944
140.00
142.00
2.00
1.93
K2
And1
180.55
183.00
2.45
1.61
And1
197.80
203.40
5.60
2.68
And1
209.45
215.80
6.35
3.91
Including
214.10
215.10
1.00
20.20
NFGC-23-19182
48.55
51.25
2.70
1.81
K2
And4
67.10
69.75
2.65
1.44
And1
86.80
89.35
2.55
1.01
And1
95.20
107.45
12.25
1.91
NFGC-23-19261
64.70
69.10
4.40
1.24
K2
And1
151.85
155.10
3.25
4.18
And2
169.60
172.00
2.40
1.60
And1
180.15
187.55
7.40
1.80
And2
286.00
288.35
2.35
1.41
NFGC-23-19514
40.15
42.30
2.15
1.19
K2
And4
81.50
83.60
2.10
2.01
And1
179.00
194.65
15.65
1.71
And2
221.00
223.25
2.25
7.07
Including
221.00
221.65
0.65
19.15
NFGC-23-19621
60.65
63.40
2.75
1.53
K2
And4
166.80
169.15
2.35
1.01
And1
190.35
201.95
11.60
2.79
Including
190.35
190.65
0.30
56.70
And2
211.85
213.90
2.05
26.26
Including
212.40
212.90
0.50
106.50
And1
234.00
236.30
2.30
2.54
And4
256.85
259.10
2.25
31.19
Including
257.20
257.55
0.35
198.50
NFGC-23-19711
59.00
61.60
2.60
1.33
K2
And1
195.10
198.15
3.05
15.58
Including
195.10
195.70
0.60
68.80
And1
203.00
205.50
2.50
1.84
And1
215.75
218.00
2.25
1.25
NFGC-23-19792
44.85
48.15
3.30
1.21
K2
And1
144.60
147.10
2.50
9.61
Including
145.55
146.55
1.00
23.20
NFGC-23-19862
29.90
32.15
2.25
4.50
K2
Including
30.90
31.40
0.50
16.36
And1
85.85
88.35
2.50
16.01
Including
85.85
86.15
0.30
130.14
And1
98.90
101.30
2.40
1.43
And1
103.00
105.35
2.35
1.20
And1
127.05
131.50
4.45
2.68
And2
139.00
141.45
2.45
1.91
And2
146.10
150.30
4.20
1.93
Including
149.90
150.30
0.40
12.55
And2
167.70
181.15
13.45
17.77
Including
172.15
174.30
2.15
93.96
Including
180.80
181.15
0.35
17.02
NFGC-23-19971
135.55
141.85
6.30
1.23
K2
And1
152.50
154.70
2.20
1.01
And1
157.10
160.00
2.90
1.39
And2
184.00
187.20
3.20
2.24
And4
225.50
228.30
2.80
1.32
And4
233.15
237.75
4.60
12.69
Including
233.15
234.10
0.95
32.36
Including
234.65
235.15
0.50
27.10
And1
243.40
290.60
47.20
1.23
NFGC-23-20044
66.00
68.55
2.55
1.02
K2
And1
152.20
172.00
19.80
1.27
And2
201.00
203.00
2.00
1.10
And4
211.85
216.00
4.15
1.05
And4
235.00
237.00
2.00
1.17
NFGC-24-20074
26.20
29.00
2.80
1.18
K2
And2
33.90
44.10
10.20
1.45
NFGC-24-20101
59.45
74.00
14.55
3.75
K2
Including
60.90
61.25
0.35
24.34
Including
62.00
62.35
0.35
10.54
NFGC-24-20152
24.20
26.55
2.35
1.38
K2
And1
41.80
45.75
3.95
2.02
And4
54.80
60.25
5.45
1.21
NFGC-24-20181
22.80
25.75
2.95
1.48
K2
NFGC-24-20194
29.80
37.00
7.20
1.45
K2
And1
66.75
77.95
11.20
1.86
Including
77.40
77.95
0.55
16.54
And1
91.30
95.25
3.95
1.49
And1
105.00
114.00
9.00
1.11
And4
136.20
142.65
6.45
1.74
And4
164.25
166.90
2.65
1.34
NFGC-24-20262
36.00
39.30
3.30
3.31
K2
NFGC-24-20301
27.95
30.45
2.50
1.61
K2
NFGC-24-20361
7.00
15.60
8.60
2.17
K2
Including
13.55
14.25
0.70
12.77
NFGC-24-20394
4.65
7.50
2.85
4.28
K2
Including
7.05
7.50
0.45
17.22
NFGC-24-20414
13.55
15.85
2.30
21.19
K2
Including
14.40
15.85
1.45
33.37
And4
141.70
143.70
2.00
1.14
And4
155.40
158.00
2.60
1.44
NFGC-24-20472
51.00
55.25
4.25
2.89
K2
Including
51.00
51.40
0.40
23.90
NFGC-24-20502
133.00
135.80
2.80
1.00
K2
And2
138.15
140.70
2.55
2.28
NFGC-24-20551
213.40
217.20
3.80
2.31
K2
NFGC-24-20624
167.60
169.65
2.05
2.65
K2
And4
242.65
245.85
3.20
1.14
NFGC-24-2068
No Significant Values
K2
NFGC-24-20731
202.15
204.25
2.10
1.98
K2
And2
218.90
221.00
2.10
1.24
NFGC-24-20784
129.05
131.70
2.65
2.22
K2
NFGC-24-20824
37.70
40.40
2.70
1.15
K2
And1
157.15
163.00
5.85
1.61
NFGC-24-20841
102.50
110.60
8.10
2.04
K2
And4
193.40
196.60
3.20
2.20
And4
226.70
229.45
2.75
2.70
NFGC-24-20852
225.60
227.80
2.20
1.70
K2
NFGC-24-2086
No Significant Values
K2
Table 2: Summary of composite results reported in this press release for K2
Note that the host structures are interpreted to be moderately to steeply dipping and true widths are generally estimated to be 170% to 95%, 240% to 70%, and 310% to 40% of reported intervals. 4True widths are unknown at this time. Infill veining in secondary structures with multiple orientations crosscutting the primary host structures are commonly observed in drill core which could result in additional uncertainty in true width. Composite intervals reported carry a minimum weighted average of 1 g/t Au diluted over a minimum core length of 2m with a maximum of 4m consecutive dilution when above 200m vertical depth and 2m consecutive dilution when below 200m vertical depth. Included high-grade intercepts are reported as any consecutive interval with grades greater than 10 g/t Au. Grades have not been capped in the averaging and intervals are reported as drill thickness. *Previously reported interval.
Hole No.
Azimuth (°)
Dip (°)
Length (m)
UTM E
UTM N
Prospect
NFGC-22-947
31
-57
302
658934
5429700
K2
NFGC-23-1557
75
-45
248
658502
5428802
Monte Carlo
NFGC-23-1640
345
-45
150
658948
5429933
K2
NFGC-23-1642
55
-45
128
659051
5429923
K2
NFGC-23-1645
345
-45
105
658884
5429831
K2
NFGC-23-1647
300
-45
260
659100
5429749
K2
NFGC-23-1650
345
-45
134
659080
5429968
K2
NFGC-23-1651
345
-45
126
658835
5429840
K2
NFGC-23-1659
5
-50
107
659081
5429967
K2
NFGC-23-1662
325
-42
86
659081
5429968
K2
NFGC-23-1688
358
-61
182
659028
5429847
K2
NFGC-23-1799
10
-60
185
658985
5429906
K2
NFGC-23-1803
90
-50
74
659093
5430056
K2
NFGC-23-1812
25
-55
80
659019
5430119
K2
NFGC-23-1814
11
-54.5
86
659038
5430075
K2
NFGC-23-1818
25
-55
50
659001
5430079
K2
NFGC-23-1822
14
-53.5
152
659031
5429848
K2
NFGC-23-1829
26
-45
185
659002
5429789
K2
NFGC-23-1872
10
-47
278
658949
5429809
K2
NFGC-23-1883
10
-62
254
658949
5429808
K2
NFGC-23-1894
50
-72
272
658950
5429808
K2
NFGC-23-1918
20
-50
155
658865
5429770
K2
NFGC-23-1926
40
-50
356
658842
5429663
K2
NFGC-23-1951
48
-46
245
658843
5429662
K2
NFGC-23-1962
59
-49
317
658843
5429662
K2
NFGC-23-1971
66
-45
227
658844
5429663
K2
NFGC-23-1979
73
-54.5
185
658871
5429746
K2
NFGC-23-1986
39
-46
194
658867
5429772
K2
NFGC-23-1997
60
-45.5
302
658829
5429766
K2
NFGC-23-2004
77
-51
239
658829
5429765
K2
NFGC-24-2007
72
-62
74
658914
5429820
K2
NFGC-24-2010
13
-45
167
658900
5429829
K2
NFGC-24-2015
35
-45
71
658836
5429840
K2
NFGC-24-2018
45
-45
62
658881
5429890
K2
NFGC-24-2019
30
-45
218
658845
5429793
K2
NFGC-24-2026
35
-46
110
658869
5429871
K2
NFGC-24-2030
37
-45
167
658844
5429880
K2
NFGC-24-2036
37
-45
50
658822
5429894
K2
NFGC-24-2039
61
-45
80
658846
5429917
K2
NFGC-24-2041
122
-52.5
173
658937
5429732
K2
NFGC-24-2047
109
-45
119
658959
5429692
K2
NFGC-24-2050
75
-45
185
658881
5429626
K2
NFGC-24-2055
342
-77
251
658795
5429622
K2
NFGC-24-2062
335
-73
257
658859
5429588
K2
NFGC-24-2068
312
-63
248
658842
5429662
K2
NFGC-24-2073
48
-57
230
658881
5429626
K2
NFGC-24-2078
20
-72
218
658844
5429662
K2
NFGC-24-2082
22
-61
206
658845
5429663
K2
NFGC-24-2084
0
-76
260
658830
5429765
K2
NFGC-24-2085
31
-58.5
266
658859
5429589
K2
NFGC-24-2086
50
-73
275
658641
5429646
K2
Table 3: Details of drill holes reported in this press release
Queensway 650,000m Drill Program Update
The Company is currently undertaking a 650,000m drill program at Queensway and approximately 3,600m of core is currently pending assay results.
Sampling, Sub-sampling, and Laboratory
All drilling recovers HQ core. The drill core is split in half using a diamond saw or a hydraulic splitter for rare intersections with incompetent core.
A geologist examines the drill core and marks out the intervals to be sampled and the cutting line. Sample lengths are mostly 1.0 metre and adjusted to respect lithological and/or mineralogical contacts and isolate narrow (<1.0m) veins or other structures that may yield higher grades.
Technicians saw the core along the defined cutting line. One-half of the core is kept as a witness sample and the other half is submitted for analysis. Individual sample bags are sealed and placed into totes, which are then sealed and marked with the contents.
New Found has submitted samples for gold determination by fire assay to ALS Canada Ltd. (“ALS”) and by photon assay to MSALABS (“MSA”) since June 2022. As of February 2024, gold analysis at ALS has been performed by photon assay. ALS and MSA operate under a commercial contract with New Found.
Drill core samples are shipped to ALS for sample preparation in Sudbury, Ontario, Thunder Bay, Ontario, or Moncton, New Brunswick. ALS is an ISO-17025 accredited laboratory for the fire assay and photon assay methods.
Drill core samples are also submitted to MSA in Val-d’Or, Quebec. MSA operates numerous laboratories worldwide and maintains ISO-17025 accreditation for many metal determination methods. MSA is an ISO-17025 accredited laboratory for the photon assay method.
At ALS for fire assay, the entire sample is crushed to approximately 70% passing 2mm. A 3,000-g split is pulverized. “Routine” samples do not have visible gold (VG) identified and are not within a mineralized zone. Routine samples are assayed for gold by 30-g fire assay with an inductively-couple plasma spectrometry (ICP) finish. If the initial 30-g fire assay gold result is over 1 g/t, the remainder of the 3,000-g split is screened at 106 microns for screened metallics assay. For the screened metallics assay, the entire coarse fraction (sized greater than 106 microns) is fire-assayed, and two splits of the fine fraction (sized less than 106 microns) are fire-assayed. The three assays are combined on a weight-averaged basis. Samples that have VG identified or fall within a mineralized interval are automatically submitted for screened metallic assay for gold.
Samples submitted to ALS beginning in February 2024, received gold analysis by photon assay whereby the entire sample is crushed to approximately 70% passing 2 mm mesh. The sample is then riffle split and transferred into jars. For “routine” samples that do not have VG identified and are not within a mineralized zone, one (300-500g) jar is analyzed by photon assay. If the jar assays greater than 0.8 g/t, the remaining crushed material is weighed into multiple jars and submitted for photon assay.
For samples that have VG identified, the entire crushed sample is riffle split and weighed into multiple jars that are submitted for photon assay. The assays from all jars are combined on a weight-averaged basis.
At MSA, the entire sample is crushed to approximately 70% passing 2mm. For “routine” samples that do not have VG identified and are not within a mineralized zone, the samples are riffle split to fill one 450g jar for photon assay. If the jar assays greater than 0.8 g/t, the remaining crushed material is weighed into multiple jars and submitted for photon assay.
For samples that have VG identified, the entire crushed sample is weighed into multiple jars and submitted for photon assay. The assays from all jars are combined on a weight-averaged basis.
All samples prepared at ALS or MSA are also analyzed for a multi-element ICP package (ALS method code ME-ICP61) at ALS Vancouver.
Drill program design, Quality Assurance/Quality Control, and interpretation of results are performed by qualified persons employing a rigorous Quality Assurance/Quality Control program consistent with industry best practices. Standards and blanks account for a minimum of 10% of the samples in addition to the laboratory’s internal quality assurance programs.
Quality Control data are evaluated on receipt from the laboratories for failures. Appropriate action is taken if assay results for standards and blanks fall outside allowed tolerances. All results stated have passed New Found’s quality control protocols.
New Found’s quality control program also includes submission of the second half of the core for approximately 2% of the drilled intervals. In addition, approximately 1% of sample pulps for mineralized samples are submitted for re-analysis to a second ISO-accredited laboratory for check assays.
The Company does not recognize any factors of drilling, sampling, or recovery that could materially affect the accuracy or reliability of the assay data disclosed.
The assay data disclosed in this press release have been verified by the Company’s Qualified Person against the original assay certificates.
The Company notes that it has not completed any economic evaluations of its Queensway Project and that the Queensway Project does not have any resources or reserves.
Qualified Person
The scientific and technical information disclosed in this press release was reviewed and approved by Greg Matheson, P. Geo., Chief Operating Officer, and a Qualified Person as defined under National Instrument 43-101. Mr. Matheson consents to the publication of this press release dated April 10, 2024, by New Found. Mr. Matheson certifies that this press release fairly and accurately represents the scientific and technical information that forms the basis for this press release.
About New Found Gold Corp.
New Found holds a 100% interest in the Queensway Project, located 15km west of Gander, Newfoundland and Labrador, and just 18km from Gander International Airport. The project is intersected by the Trans-Canada Highway and has logging roads crosscutting the project, high voltage electric power lines running through the project area, and easy access to a highly skilled workforce. The Company is currently undertaking a 650,000m drill program at Queensway and is well funded for this program with cash and marketable securities of approximately $53.6 million as of April 2024.
Please see the Company’s website at www.newfoundgold.ca and the Company’s SEDAR+ profile at www.sedarplus.ca.
Acknowledgements
New Found acknowledges the financial support of the Junior Exploration Assistance Program, Department of Natural Resources, Government of Newfoundland and Labrador.
Contact
To contact the Company, please visit the Company’s website, www.newfoundgold.ca and make your request through our investor inquiry form. Our management has a pledge to be in touch with any investor inquiries within 24 hours.
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 Statement Cautions
This press release contains certain “forward-looking statements” within the meaning of Canadian securities legislation, relating to exploration, drilling and mineralization on the Company’s Queensway gold project in Newfoundland and Labrador; assay results; the interpretation of drilling and assay results, the results of the drilling program, mineralization and the discovery of zones of high-grade gold mineralization; plans for future exploration and drilling and the timing of same; the merits of the Queensway project; future press releases by the Company; and funding of the drilling program. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. 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”, “demonstrates”, “encouraging”, “indicate”, “often”, “target”, “future”, “likely”, “pending”, “potential”, “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 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 assay results and the drilling 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240410546708/en/
New Found Gold Corp. Per: “Collin Kettell” Collin Kettell, Chief Executive Officer Email: ckettell@newfoundgold.ca Phone: +1 (845) 535-1486
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