New Found Gold Launches Fully Funded $44M, 90,000m Drilling Program at Queensway
NFGC•New Found Gold has expanded its fully funded $44M 2026 Queensway program to 90,000 meters of diamond drilling with six rigs, adding two rigs to the original four. The revised scope allocates 45% to discovery and resource growth at the AFZ Core and Dropkick Zone, and 55% to resource conversion and grade control ahead of first ore in late 2027.
1. Program Expansion and Funding
New Found Gold has expanded its fully funded 2026 Queensway work program to $44M, increasing diamond drilling to 90,000 meters with six rigs by adding two units to the four active since January.
2. Drilling Objectives and Allocation
The drilling program allocates 45% of meters to discovery and resource growth at AFZ Core extensions and the Dropkick Zone, while 55% focuses on converting inferred resources to indicated, grade control drilling for mine planning, and geotechnical and hydrogeological studies.
3. Regional Exploration Targets
Surface exploration and trenching will target Pauls Pond, Greenwood, and Gazeebow South prospects across the 220,000-hectare land package, following gold-in-soil, till, and bedrock anomalies along the Appleton Fault Zone corridor.
4. Development Timeline and Goals
The expanded program supports the Preliminary Economic Assessment phases with the objective of advancing Queensway toward first ore processing in late 2027 and refining pit and underground resource models.
