New Found Gold Corp. (NFGC) has released encouraging high-grade gold assay results from its 2025 drill program at the Queensway Gold Project in Newfoundland and Labrador. These discoveries, specifically within the Keats and Iceberg zones of the Keats-Baseline Fault Zone, confirm continuous mineralization and are instrumental for the project's ongoing development. The company is now embarking on its 2026 drilling campaign, aiming to convert existing resources for future open pit and underground operations, with an updated mineral resource estimate expected by the third quarter of 2026.
The 2025 drilling initiative by New Found Gold Corp. utilized a meticulous 5-meter by 5-meter grid spacing. This detailed approach was crucial for enhancing the reliability of gold distribution data and validating the initial mineral resource models. Impressive intercepts were recorded, with the Iceberg zone revealing significant grades such as 71.8 grams per tonne gold over 31.95 meters and 76.6 grams per tonne gold over 16.00 meters. The Keats zone also delivered strong results, including 51.3 grams per tonne gold over 3.40 meters, highlighting the widespread presence of high-grade gold at or near the surface.
In total, the 2025 program encompassed extensive drilling, with 2,773 meters completed across 84 holes at Keats and an additional 2,390 meters across 40 holes at Iceberg. These comprehensive efforts have provided a robust dataset supporting the project's potential. As of now, approximately 45% of the assay results from the 2025 drilling season are still pending and will be disclosed upon their availability, potentially adding further value to the current findings.
Looking ahead, New Found Gold Corp. has commenced its 2026 drill program, deploying four active rigs. The primary objective of this phase is resource conversion to support the planned Phase 2 open pit and Phase 3 underground mining operations. The company also plans to expand its grade control drilling in the second quarter of 2026, which will include new exploration activities at the Lotto excavation. These ongoing efforts underscore the company's commitment to systematically advancing the Queensway Gold Project and realizing its full potential.
New Found Gold Corp., an exploration company, is actively involved in identifying, evaluating, acquiring, and exploring mineral properties within the provinces of Newfoundland and Labrador, Canada. The successful 2025 drilling program and the commencement of the 2026 campaign signify a pivotal period for the company, as it moves closer to establishing a comprehensive understanding of the Queensway Gold Project's economic viability and resource potential.