4 minute read - Published 09:45 AM EST, Thursday October 17
This article was authored by Peyton Baird of witan nook.
New Found Gold’s Queensway Project, located 15 km west of Gander, Newfoundland, is rapidly emerging as one of Canada’s most exciting high-grade gold exploration plays. This 100% owned 1,662 km² property boasts multiple gold discoveries, showing remarkable potential to add to Newfoundland's gold production legacy. Covering over 110 km of strike along two key fault zones, the Appleton Fault Zone (AFZ) and JBP Fault Zone, the Queensway Project presents a compelling mix of high-grade gold mineralization and large-scale exploration opportunities.
The project's unique geological setting and the company’s innovative approach to exploration have led to several major discoveries since the initial drill hole in 2019, steadily expanding the mineralized envelope along the AFZ.
The Queensway Project in Newfoundland | New Found Gold Corp.
Queensway North: A High-Grade Exploration Powerhouse
The Queensway North section of the project has been the primary focus of drilling and exploration, uncovering a series of high-grade gold zones along the 9.5 km strike of the Appleton Fault. This area has revealed 18 zones of significant gold mineralization, showcasing the exceptional potential of this gold-bearing system. The company’s journey of discovery began with a bang. In 2019, the first discovery hole at the Keats Zone returned a stunning 19 m interval grading 92.9 g/t Au. Located 2 km north of Keats, the Lotto Zone followed suit with impressive grades, including 41.2 g/t Au over 4.75 m and 25.4 g/t Au over 5.15 m in 2020.
These early successes marked the Queensway Project as one to watch. Subsequent discoveries continued to expand the mineralized envelope. The Golden Joint Zone, situated between Keats and Lotto, returned an exceptional 430 g/t Au over 5.25 m in 2021. The following year saw the addition of new high-grade gold zones on the west side of the AFZ, including the Keats West Zone, where follow-up drilling revealed a remarkable intercept of 42.6 g/t Au over 32 m.
Most recently, the discovery of the Iceberg Zone along the Keats-Baseline Fault Zone (KBFZ) in 2023 further underlined the potential of the Queensway Project. Iceberg delivered one of the project’s highest-grade intercepts to date, with 105 g/t Au over 27.05 m. This new zone, along with Iceberg East, now stretches over 665 m of strike and continues to demonstrate the strength of the KBFZ gold system.
Expanding Horizons: New Discoveries and Extended Mineralization
As exploration progressed, New Found Gold extended the AFZ mineralized envelope to 4.1 km in 2023 with three new zones: Monte Carlo, K2, and Everest. The Monte Carlo Zone is located west of the AFZ, adjacent to Lotto, while the K2 Zone lies 725 m north of Lotto. K2's low-angle gold-bearing fault zone dips southward, resembling the structure of Keats West. Drilling at K2 in 2023 produced several high-grade intersections, such as 40.0 g/t Au over 2.45 m, affirming its potential. Further north, the Everest Zone, discovered through systematic grid drilling, revealed additional high-grade veins, with intercepts including 36.7 g/t Au over 3.70 m.
These discoveries add to a growing list of high-grade targets, cementing the Queensway Project as one of the most promising in Canada’s gold exploration landscape. In late 2023, two more high-grade, at-surface discoveries were made just north of Lotto. The Jackpot Zone delivered 95.7 g/t Au over 3.25 m, while the Honeypot Zone followed suit with an impressive 26.4 g/t Au over 7.65 m. Both zones show strong continuity and high grades, especially at depth.
Showings and Zones along 5km of the Appleton Fault Zone (APZ) | New Found Gold Corp.
Strategic Exploration and Advanced Techniques
To accelerate the discovery process, New Found Gold is employing industry-leading techniques, including a 3D seismic survey. This program, which commenced in June 2023, is aimed at mapping prospective areas beyond the current mineralized zones along the Appleton North Corridor and JBP Fault Zone. These initiatives should refine drilling targets for 2024 and beyond, potentially unlocking even more gold mineralization. The JBP Fault Zone, parallel to the AFZ and located 5 km to the east, is another critical target for the project. Historically underexplored, this zone has shown promising signs of gold mineralization over a 12.4 km strike length. With drilling planned for 2024, New Found Gold aims to expand upon the high-grade zones already identified in the JBP Fault Zone, including Pocket Pond and 1744 targets.
Queensway South: Untapped Potential and Expanding Exploration
While much of the focus has been on Queensway North, the Queensway South section of the project remains highly prospective, and exploration efforts are ramping up. The AFZ and JBP fault structures extend for another 80 km into Queensway South, providing ample opportunity for large-scale discoveries. New Found Gold has launched an aggressive exploration program in Queensway South, including a large-scale regional till survey that has identified broad areas of anomalous gold counts. Initial drilling at Pauls Pond in 2022 and 2023 produced encouraging results, with 27 of 33 holes hitting significant gold mineralization. The area also hosts visible gold occurrences in several holes, further supporting its potential.
A Gold Mine in the Making
New Found Gold’s Queensway Project is already making waves in the mining world. The ongoing drilling and exploration have uncovered a series of high-grade zones that highlight the exceptional potential of this project. With an aggressive exploration schedule planned for 2024, including deeper drilling along the AFZ and expanded testing at JBP Fault, the Queensway Project is well-positioned to become one of the most significant gold projects in Newfoundland. This evolving narrative of discovery, driven by high-grade intercepts and advanced exploration techniques, places New Found Gold at the forefront of Canadian gold exploration. The Queensway Project continues to deliver, offering investors and stakeholders the prospect of future gold production in one of the world's most exciting gold belts.
This article was authored by Peyton Baird of witan nook.
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