New Found Gold Corp. has announced an initial Mineral Resource Estimate (MRE) for its Queensway Gold Project located in Newfoundland and Labrador, Canada. This significant milestone highlights the project's potential, showcasing high-grade gold mineralization and setting the stage for future exploration and economic assessments.
The initial MRE was prepared by SLR Consulting (Canada) Ltd. and adheres to the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) standards. The estimate reflects the potential of the Queensway Gold Project, which is situated along a 110 km segment of the auriferous Appleton and JBP fault zones.
| Zone | Category | Tonnage (Mt) | Grade (g/t Au) | Contained Metal (Moz Au) |
|---|---|---|---|---|
| Open Pit | Indicated | 17.3 | 2.25 | 1.25 |
| Inferred | 9.0 | 1.24 | 0.36 | |
| Underground | Indicated | 0.8 | 5.76 | 0.14 |
| Inferred | 1.7 | 4.44 | 0.25 | |
| Total | Indicated | 18.0 | 2.40 | 1.39 |
| Inferred | 10.7 | 1.77 | 0.61 |
The Queensway Gold Project is characterized by high-grade veins that start at the surface, allowing for quick access and selective mining opportunities. The project has demonstrated strong continuity of mineralization, with numerous additional gold targets identified along the extensive strike length.
New Found Gold is committed to advancing the Queensway Project through ongoing exploration efforts. The company plans to conduct an aggressive drilling campaign in 2025, focusing on both step-out and infill drilling to further define high-grade targets.
The initial Mineral Resource Estimate for the Queensway Gold Project marks a pivotal moment for New Found Gold Corp. With a solid foundation of high-grade gold mineralization and a clear path forward for exploration and economic assessment, the company is poised to unlock significant value for its shareholders and the surrounding communities. The project’s potential continues to grow, promising an exciting future in the gold mining sector.
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Talon Metals Corp. announces a significant discovery of massive sulphide at the Tamarack Nickel-Copper-Cobalt Project, enhancing its exploration efforts and aligning with U.S. mineral production goals.
New Found Gold Corp. announces an initial Mineral Resource Estimate for its Queensway Gold Project, revealing significant gold potential and plans for future exploration.
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