New Found Gold Drilling Yields 508g/t Au at Keats Zone, Expands Q2 Plan
New Found Gold’s 2025 grade-control drilling at the Keats zone returned intercepts of 508 g/t Au over 2.2 m and 113 g/t Au over 3.75 m, confirming near-surface continuity for Phase 1 open pits. Four rigs are active and drilling will expand to Iceberg and Lotto in Q2.
1. High-Grade Keats Zone Intercepts
The 2025 grade-control program at the Keats zone used a 5×5 m drill spacing to confirm near-surface continuity of gold mineralization. Notable results include 508 g/t Au over 2.20 m and 113 g/t Au over 3.75 m, aligning with existing resource models.
2. Phase 1 Mine Plan Refinement
These high-grade intercepts are critical inputs for the Phase 1 open pit design outlined in the Preliminary Economic Assessment, helping to optimize pit shell dimensions and metal recovery parameters.
3. Ongoing Drilling Campaign
New Found Gold currently operates four drill rigs across the Queensway Gold Project. In Q2, grade control drilling will extend into the Iceberg and Lotto excavations to further delineate zones targeted for Phase 1 production.
4. Outlook and Technical Update
Approximately 50% of the 2025 program results remain pending, with a revised mineral resource estimate and updated Technical Report scheduled for release in mid-2026 to support Phase 2 and Phase 3 planning.