TRUMP SAYS: HUNTER MAKES FORTUNE FROM SHADY DEALS!

Ongoing fieldwork at Queensway has continued to bolster the conclusion that the high-grade gold at Queensway has an epizonal genesis, supporting New Found’s highly successful IPO and increase in market valuation post-IPO.

That increase is extremely impressive considering New Found’s CAD$27.3 million IPO just happened in August. Since that auspicious start, investors have already borne witness to a slew of developments in the advancement of New Found’s mineral assets.

At the time of the IPO, Executive Chairman Collin Kettell marked the occasion with updates on New Found’s substantial progress at the Queensway property: “After five years of privately funded exploration expenditures in excess of $10 million, we have now advanced the Queensway Project to an exciting stage where we are a listed company. A 100,000 m drill program will be initiated shortly, backed by $72 million in working capital.”

Mr. Kettell also reported that in late 2019, the New Found Gold exploration team had intercepted 19.0 meters of 92.9 grams per metric ton of gold in the first hole of their maiden drill program at Queensway. “We are excited to be embarking on this major drill program to follow up on this interval and to test the multiple targets as summarized in our prospectus,” he summarized.

And so, the executive chairman noted past achievements while also setting the course for further developments at Queensway. It didn’t take long for the next milestone to be reached, as New Found Gold commenced its 100,000-meter drill program at Queensway later in August.

As Mr. Kettell reported, historical exploration has confirmed there were multiple near-surface, high-grade gold targets along 5 kilometers of the Appleton Fault Zone trend at Queensway, and New Found Gold planned to drill much of that 5-kilometer-long target area.

As Mr. Kettell reported, historical exploration has confirmed there were multiple near-surface, high-grade gold targets along 5 kilometers of the Appleton Fault Zone trend at Queensway, and New Found Gold planned to drill much of that 5-kilometer-long target area.

Just a few days later, New Found Gold announced that the company’s 2020 sampling program had defined a new discovery area named the Eastern Pond target at the Queensway South project.

What they discovered was that the Eastern Pond target is comprised of two areas where recent till results have shown highly anomalous total gold grain counts – including a high percentage of pristine gold grains – and yielded several sub-crop samples of up to 15 grams per metric ton of gold.

One till sample yielded 216 gold grains, 163 (75%) of them classified as pristine. The second cluster of samples yielded up to 155 gold grains, with 127 (82%) of them classified as pristine. Next, field crews would be remobilized to the Eastern Pond area to conduct follow-up work, including prospecting, geological mapping, and the collection of additional till samples.

Turning our attention to the Keats Discovery Zone at Queensway, New Found Gold next announced that it had received all permits required to commence drilling at that zone. CEO Craig Roberts stated, “We are excited to return to the Keats Zone to follow up on the discovery made in November 2019 when New Found intersected 19.0 m of 92.9 g/t Au at approximately 75 m depth in hole NFGC-19-01.”

Not long after that, New Found Gold commenced drilling at the Keats Zone. Due to the very high-grade nature of the mineralization at Keats, the company observed that a significant number of gold ounces could be contained in relatively small volumes of rock at this site.

Initial drilling at Keats included eight holes on a 10-meter-by-10-meter grid pattern around the intercept in drill hole NFGC-19-01, with the objective of determining the initial spatial trend of the high-grade gold mineralization already intercepted in NFGC-19-01.

In September, New Found Gold released the results from NFGC-20-17, the first drill hole targeting the Lotto Zone as part of the company’s recently commenced 100,000-meter diamond drill program at Queensway.

Similar to the high-grade gold mineralization at Keats, the high-grade gold mineralization at Lotto displays characteristics suggestive of an epizonal orogenic depositional environment.

Two separate near-surface intervals of intense quartz veining with significant sulfide and visible gold were assayed on a rush basis. These returned 41.2 grams per metric ton of gold over 4.75 meters starting at 35 meters down hole-depth and 25.4 grams per metric ton of gold over 5.15 meters starting at 57 meters down hole-depth.

COO Greg Matheson commented upon these discoveries, saying, “It is encouraging and exciting that at such an early stage in our exploration program, we now have two high-grade gold discoveries approximately 2 km apart yet within the same structural regime along the east side of the Appleton Fault Zone, with both areas demonstrating characteristics of epizonal style high-grade gold emplacement.”

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