New Found Gold Delivers 71.8 g/t Au over 31.95 m in Iceberg Excavation
New Found Gold reported final 2025 grade control drill assays at Queensway’s Iceberg and Keats zones, including 71.8 g/t Au over 31.95 m and 51.3 g/t Au over 3.40 m. These high-grade, near-surface intercepts reinforce resource continuity for Phase 1 open pits in the 2025 PEA.
1. Final Grade Control Drill Results
New Found Gold completed 72 diamond drill holes in its 2025 grade control program, totaling 907 m at Keats and 2,390 m at Iceberg. Iceberg highlights include 71.8 g/t Au over 31.95 m and 76.6 g/t Au over 16.00 m; Keats highlights include 51.3 g/t Au over 3.40 m and 11.8 g/t Au over 9.95 m.
2. Resource Continuity and Mine Planning
The high-grade, near-surface intercepts demonstrate continuity of mineralized shoots and de-risk Phase 1 open pit design outlined in the 2025 PEA. Detailed geostatistical data will validate grade-capping and influence-limiting parameters ahead of the upcoming mineral resource estimate update and subsequent mine planning.
3. Geologic Setting and Future Steps
The Keats and Iceberg zones are hosted within the Keats-Baseline Fault Zone, defined over 1.9 km of strike with extensions to vertical depths up to 1.1 km. Next steps include resource model validation, additional drilling for deep testing, and integration of these results into the 2025 Preliminary Economic Assessment.