{"id":446872,"date":"2021-03-01T08:03:50","date_gmt":"2021-03-01T13:03:50","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=446872"},"modified":"2021-03-01T08:03:50","modified_gmt":"2021-03-01T13:03:50","slug":"keats-step-out-returns-29-1-g-t-au-over-11-4m-extends-high-grade-zone-to-250m-down-plunge","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/keats-step-out-returns-29-1-g-t-au-over-11-4m-extends-high-grade-zone-to-250m-down-plunge\/","title":{"rendered":"Keats Step-Out Returns 29.1 g\/t Au over 11.4m, Extends High-Grade Zone to 250m Down Plunge"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"xn-location\">Vancouver, BC<\/span>, <span class=\"xn-chron\">March 1, 2021<\/span> \/PRNewswire\/ &#8211; <b>New Found Gold Corp.<\/b>\u00a0(&#8220;<b>New Found<\/b>&#8221; or the &#8220;<b>Company<\/b>&#8220;) (TSXV: NFG) (OTC: NFGFF)\u00a0is pleased to announce assay results from an interval drilled approximately <span class=\"xn-money\">125m<\/span> down plunge to the south of previously reported intervals at the Keats Zone (&#8220;<b>Keats<\/b>&#8220;), doubling the known extent of the high-grade gold mineralization at Keats.\u00a0 This hole was drilled as part of the Company&#8217;s ongoing <span class=\"xn-money\">200,000m<\/span> diamond drill program at its 100%-owned Queensway Project (&#8220;<b>Queensway<\/b>&#8220;), located on the Trans-Canada Highway 15 km west of <span class=\"xn-location\">Gander<\/span>, Newfoundland.\u00a0<a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3081637-1&amp;h=977691362&amp;u=https%3A%2F%2Fmma.prnewswire.com%2Fmedia%2F1446334%2FNew_Found_Gold_Corp__Keats_Step_Out_Returns_29_1_g_t_Au_over_11_6.pdf&amp;a=View+PDF+version\" rel=\"nofollow noopener noreferrer\">View PDF version<\/a><\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder5995\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/1446334\/New_Found_Gold_Corp__Keats_Step_Out_Returns_29_1_g_t_Au_over_11_6.pdf?p=original\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/1446334\/New_Found_Gold_Corp__Keats_Step_Out_Returns_29_1_g_t_Au_over_11_6.pdf?p=pdfthumbnail\" title=\"New Found Gold Corp. PDF (CNW Group\/New Found Gold Corp.)\" alt=\"New Found Gold Corp. PDF (CNW Group\/New Found Gold Corp.)\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<p>\n        <b>Highlights<\/b>\n      <\/p>\n<p>\n        <sub><br \/>\n          <br \/>\n        <\/sub>\n      <\/p>\n<ul type=\"disc\">\n<li>A broad interval of intense quartz veining containing visible gold and sulphide mineralization within the Keats-Baseline fault was submitted on a rush basis and returned the following interval:<\/li>\n<\/ul>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prngen1\">\n<tr>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Hole No.<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>From (m)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>To (m)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Interval (m)*<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Au (g\/t)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>NFGC-21-104<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>214.5<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>225.9<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>11.4<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>29.1<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p><\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prngen1\">\n<tr>\n<td colspan=\"5\" class=\"prnsbtb0 prnrbrb0 prnvab prnsbtb0 prntal prnpl6 prnsblb0 prnpr6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <sub>*Note that the host structures are interpreted to be steeply dipping and true widths are estimated to be 70% to 80% of reported intervals. Intervals are calculated at a 1 g\/t Au cut-off grade; grades have not been capped in the averaging.<\/sub><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<ul type=\"disc\">\n<li>After Hole 21-104 was terminated at <span class=\"xn-money\">255m<\/span>, visible gold was observed in the bottom 0.6 meters of the hole. This\u00a00.6m interval was sent for assay and returned 7.35 g\/t Au. The Company plans to deepen NFGC-21-104 to determine the extent of this additional gold mineralization. <\/li>\n<li>Keats high-grade zone is now drill defined over approximately <span class=\"xn-money\">250m<\/span> in the down plunge direction (Figure 1) along a continuous dilative envelope that is being targeted within the Keats Baseline Fault. The dilative envelope has been intersected at the bedrock surface in previously reported intervals and shows an approximately 30\u00b0 plunge to the south. <\/li>\n<li>Gold mineralization persists laterally and vertically throughout the Keats-Baseline fault with the largest concentrations to date found within the plunging envelope. <\/li>\n<li>Step-out drilling down plunge to the south is continuing. Grid drilling to test the vertical extent of high-grade is also ongoing, with high-grade mineralization confirmed over <span class=\"xn-money\">+140m<\/span> vertically to date. <\/li>\n<\/ul>\n<p>\n        <span class=\"xn-person\">Denis Laviolette<\/span>, President of New Found, stated: &#8220;<i>We are excited by the expanding footprint of high-grade gold mineralization at Keats, confirmed by partial assay results for 26 holes to date and the logging and interpretation of vein intervals in an additional 34 holes. To date the zone is interpreted to be at least <span class=\"xn-money\">250m<\/span> in the down plunge direction, appears to have a vertical extent of at least <span class=\"xn-money\">140m<\/span>, with estimated true widths typically in the <span class=\"xn-money\">10m<\/span> range and up to 30m+. High-grade gold mineralization is open down plunge and vertically, and step-out and infill drilling is continuing. <\/i><\/p>\n<p>\n        <i>Our growing understanding at Keats and Lotto is adding to our excitement about the potential for the broader <span class=\"xn-location\">Appleton<\/span> and JPB corridors. The odds of us drilling into the two best economic accumulations of gold on the project 2km apart with our first drillholes seems highly improbable. Ramping up to eight drills will allow us to both continue infill and step out drilling at Keats and Lotto, and to test multiple high-grade targets along 20km of prospective strike at Queensway North. Overall, we are working with over 100km of prospective strike within a 1,500km<sup>2<\/sup> project, and we believe New Found is just scratching the surface of this district scale property.&#8221;<\/i>\n      <\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder9623\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/1446317\/New_Found_Gold_Corp__Keats_Step_Out_Returns_29_1_g_t_Au_over_11_1.html\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/1446317\/New_Found_Gold_Corp__Keats_Step_Out_Returns_29_1_g_t_Au_over_11_1.jpg\" title=\"Figure 1. Keats long-section (results released and pending) (CNW Group\/New Found Gold Corp.)\" alt=\"Figure 1. Keats long-section (results released and pending) (CNW Group\/New Found Gold Corp.)\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<p>\n        <b>Figure 1. Keats long-section (results released and pending)<\/b>\n      <\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder2438\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/1446318\/New_Found_Gold_Corp__Keats_Step_Out_Returns_29_1_g_t_Au_over_11_2.html\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/1446318\/New_Found_Gold_Corp__Keats_Step_Out_Returns_29_1_g_t_Au_over_11_2.jpg\" title=\"Figure 2. Keats plan view (CNW Group\/New Found Gold Corp.)\" alt=\"Figure 2. Keats plan view (CNW Group\/New Found Gold Corp.)\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<p>\n        <b>Figure 2. Keats plan view<\/b>\n      <\/p>\n<p>\n        <b>Keats<\/b>\n      <\/p>\n<p>Keats continues to deliver robust widths of vein hosted gold mineralization with substantial visible gold in quartz vein networks. Grades are moderately variable, consistent with most orogenic gold systems. The <span class=\"xn-money\">250m<\/span> down plunge dimension noted in this release is measured from the furthest north high-grade interval reported to date (hole NFGC-20-37, <span class=\"xn-money\">10.3m<\/span> at 25g\/t Au starting at <span class=\"xn-money\">9.0 m<\/span> down hole, see Company&#8217;s <span class=\"xn-chron\">February 11, 2021<\/span> news release) to the interval of <span class=\"xn-money\">11.4m<\/span> at 29.1 g\/t Au reported for hole NFGC-21-104 in this release. The Company has dedicated three drill rigs for ongoing drilling at Keats that will continue infill drilling and to test the zone in both the horizontal and vertical directions, including to the south of NFGC-21-104.<\/p>\n<p>\n        <b>Queensway Project Exploration Strategy Update<\/b>\n      <\/p>\n<p>\n        <b>Queensway North<br \/><\/b>New Found has recently completed down-hole 3D optical and acoustic televiewer measurements and is now processing this data to obtain precise interpretation of faulting, folding and vein interactions. Over the next few months the interpretations from this work will be merged with 3D EM, gravity, and magnetic data-inversions to characterize specific geological conditions present at Keats, Lotto and other showings that correlate to gold mineralization. Signatures developed in this work will be utilized in the targeting of potential new zones of gold mineralization along the <span class=\"xn-location\">Appleton<\/span> and JBP fault zones.\u00a0 <\/p>\n<p>Keats, Lotto, Knob, Dome, Road, and other zones represent the product of a very sparse preliminary patchwork of historical greenfields exploration programs. New Found has been fortunate to generate impressive drill results starting with its very first hole at Keats. \u00a0Broader systematic testing recently resulted in the discovery of high-grade gold mineralization at Lotto (see the Company&#8217;s <span class=\"xn-chron\">February 23, 2021<\/span> news release), where 41.2g\/t Au over <span class=\"xn-money\">4.75m<\/span> and 25.4g\/t over <span class=\"xn-money\">5.15 m<\/span> was intercepted in hole NFGC-20-17, the Company&#8217;s first hole targeting the Lotto Zone.<\/p>\n<p>Keats and Lotto cover a very small footprint on extensive prospective trends along the <span class=\"xn-location\">Appleton<\/span> and JBP faults, and New Found Gold believes there is vast discovery potential along these trends.\u00a0 As a first step to more comprehensively testing these trends, the Company is pleased to announce the commencement of a systematic plan that will see approximately 20km of strike length along the <span class=\"xn-location\">Appleton<\/span> and JBP faults tested with first pass reconnaissance drill hole fences.\u00a0 This drilling will be guided by vectoring methods developed from a large volume of geological information, and vectoring methods developed based on the success to date on Queensway North.<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder6726\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/1446315\/New_Found_Gold_Corp__Keats_Step_Out_Returns_29_1_g_t_Au_over_11_3.html\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/1446315\/New_Found_Gold_Corp__Keats_Step_Out_Returns_29_1_g_t_Au_over_11_3.jpg\" title=\"Figure 3. Queensway North Targeting Map (CNW Group\/New Found Gold Corp.)\" alt=\"Figure 3. Queensway North Targeting Map (CNW Group\/New Found Gold Corp.)\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<p>\n        <b>Figure 3. Queensway North Targeting Map<\/b>\n      <\/p>\n<p>\n        <i>The <span class=\"xn-location\">Appleton<\/span> and JBP have been subdivided into named blocks shown in Figure 3. Many of these blocks are undrilled to date.<\/i>\n      <\/p>\n<p>\n        <b>Queensway South <br \/><\/b>New Found is also continuing work on over 70km of strike of the <span class=\"xn-location\">Appleton<\/span> and JBP faults on Queensway South (Figure 4).\u00a0 Six gold in till anomalies have been defined through a large-scale gold in till survey, including a number that are coincident with the <span class=\"xn-location\">Appleton<\/span> and JBP structures (Figure 4). Field work in 2021 will continue towards developing additional drill targets on Queensway South.<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder2085\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/1446319\/New_Found_Gold_Corp__Keats_Step_Out_Returns_29_1_g_t_Au_over_11_4.html\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/1446319\/New_Found_Gold_Corp__Keats_Step_Out_Returns_29_1_g_t_Au_over_11_4.jpg\" title=\"Figure 4. Queensway North and South (CNW Group\/New Found Gold Corp.)\" alt=\"Figure 4. Queensway North and South (CNW Group\/New Found Gold Corp.)\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<p>\n        <b>Figure 4. Queensway North and South<\/b>\n      <\/p>\n<p>\n        <b>Drill-hole Details<\/b>\n      <\/p>\n<p class=\"prntal\">\n        <b>Table 2: Summary of results reported in this news release.<\/b>\n      <\/p>\n<div class=\"prntal\">\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prngen1\">\n<tr>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Hole No.<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>From (m)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>To (m)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Interval (m)*<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Au (g\/t)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Zone<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">NFGC-21-104<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">214.5<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">225.9<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">11.4<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">29.1<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Keats<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">254.4<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">255.0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.6<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">7.35<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Keats<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p class=\"prntal\">\n        <b>Table 3: Details of drill holes reported on in this news release.<\/b>\n      <\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prngen1\">\n<tr>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Hole No.<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Azimuth (\u00b0)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Dip (\u00b0)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Length (m)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>UTM E<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>UTM N<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">NFGC-21-104<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">300<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">-45<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">255<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">658 208<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5 427 295<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\n        <b>Sampling, Sub-sampling and Laboratory <\/b>\n      <\/p>\n<p>True widths of the new exploration intercepts reported in this press release have yet to be determined but are estimated to be 70% to 80% of reported core lengths. Assays are uncut, and calculated intervals are reported over a minimum length of 2 meters using a lower cut-off of 1.0 g\/t Au. All HQ split core assays reported were obtained by either complete sample metallic screen\/fire assay or standard 30-gram fire-assaying with ICP finish at ALS Minerals in <span class=\"xn-location\">Vancouver, British Columbia<\/span> or by entire sample screened metallic screen fire assay at Eastern Analytical in <span class=\"xn-location\">Springdale, Newfoundland<\/span>. The complete sample metallic screen assay method is selected by the geologist when samples contain coarse gold or any samples displaying gold initial fire assay values greater than 1.0 g\/t Au. Drill program design, Quality Assurance\/Quality Control and interpretation of results is performed by qualified persons employing a Quality Assurance\/Quality Control program consistent with National Instrument 43-101 and industry best practices. Standards and blanks are included with every 20 samples for Quality Assurance\/Quality Control purposes by the Company as well as the lab. Approximately 5% of sample pulps are sent to secondary laboratories for check assays.<\/p>\n<p>\n        <b>Qualified Person<\/b>\n      <\/p>\n<p>The technical content disclosed in this press release was reviewed and approved by <span class=\"xn-person\">Greg Matheson<\/span>, P. Geo., Chief Operating Officer and a Qualified Person as defined under National Instrument 43-101. Mr Matheson consents to the publication of this announcement dated <span class=\"xn-chron\">March 1, 2021<\/span> by New Found Gold. Mr Matheson certifies that this announcement fairly and accurately represents the information for which he is responsible.<\/p>\n<p>\n        <b>About New Found Gold Corp.<\/b>\n      <\/p>\n<p>New Found holds a 100% interest in the Queensway Project, located 15 km west of <span class=\"xn-location\">Gander, Newfoundland<\/span>, and just 18 km from <span class=\"xn-location\">Gander<\/span> International Airport. The project is intersected by the Trans-Canada Highway and has logging roads crosscutting the project, high voltage electric power lines running through the project area, and easy access to a highly skilled workforce. With working capital of approximately <span class=\"xn-money\">C$70M<\/span> the Company is well financed to continue its current 200,000-m drill program, with a planned increase from the current five drill rigs to eight drill rigs in Q1, 2021. New Found has a proven capital markets and mining team with major shareholders including Palisades Goldcorp (33%), <span class=\"xn-person\">Eric Sprott<\/span> (18%), Novo Resources (11%), <span class=\"xn-person\">Rob McEwen<\/span> (7%), other institutional ownership (8%), and management, directors, and insiders (4%). <\/p>\n<p>Please see the Company&#8217;s website at <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3081637-1&amp;h=3092962165&amp;u=http%3A%2F%2Fwww.newfoundgold.ca%2F&amp;a=www.newfoundgold.ca\" rel=\"nofollow noopener noreferrer\">www.newfoundgold.ca<\/a> and the Company&#8217;s SEDAR profile at <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3081637-1&amp;h=3817281132&amp;u=http%3A%2F%2Fwww.sedar.com%2F&amp;a=www.sedar.com\" rel=\"nofollow noopener noreferrer\">www.sedar.com<\/a>.<\/p>\n<p>\n        <b>Acknowledgements<\/b>\n      <\/p>\n<p>New Found acknowledges the financial support of the Junior Exploration Assistance Program, Department of Natural Resources, Government of <span class=\"xn-location\">Newfoundland<\/span> and <span class=\"xn-location\">Labrador<\/span>.<\/p>\n<p>\n        <b>Contact<\/b>\n      <\/p>\n<p>To contact the Company, please visit the Company&#8217;s website, <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3081637-1&amp;h=3092962165&amp;u=http%3A%2F%2Fwww.newfoundgold.ca%2F&amp;a=www.newfoundgold.ca\" rel=\"nofollow noopener noreferrer\">www.newfoundgold.ca<\/a> and make your request through our investor inquiry form. Our management has a pledge to be in touch with any investor inquiries within 24 hours. <\/p>\n<p>\n        <b>New Found Gold Corp.<\/b><br \/>\n        <br \/>Per: &#8220;Craig Roberts&#8221; <br \/><span class=\"xn-person\">Craig Roberts<\/span>, P.Eng., Chief Executive Officer <br \/>Email: <a target=\"_blank\" href=\"mailto:croberts@newfoundgold.ca\" rel=\"nofollow noopener noreferrer\">croberts@newfoundgold.ca<\/a>\u00a0<br \/>Phone: (604) 562 9664<\/p>\n<p>\n        <b>Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.<\/b>\n      <\/p>\n<p>\n        <b>Forward-Looking Statement Cautions<\/b>\n      <\/p>\n<p>\n        <i>This press release contains certain &#8220;forward-looking statements&#8221; within the meaning of Canadian securities legislation, relating to further the exploration and drilling <\/i><br \/>\n        <i>on the Company&#8217;s Queensway gold project in <span class=\"xn-location\">Newfoundland<\/span><\/i><br \/>\n        <i>. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words &#8220;expects,&#8221; &#8220;plans,&#8221; &#8220;anticipates,&#8221; &#8220;believes,&#8221; &#8220;intends,&#8221; &#8220;estimates,&#8221; &#8220;projects,&#8221; &#8220;aims,&#8221; &#8220;potential,&#8221; &#8220;goal,&#8221; &#8220;objective,&#8221; &#8220;prospective,&#8221; and similar expressions, or that events or conditions &#8220;will,&#8221; &#8220;would,&#8221; &#8220;may,&#8221; &#8220;can,&#8221; &#8220;could&#8221; or &#8220;should&#8221; occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company&#8217;s management on the date the statements are made, and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management&#8217;s beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include risks associated possible accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company&#8217;s exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company&#8217;s business and prospects. The reader is urged to refer to the Company&#8217;s reports, publicly available through the Canadian Securities Administrators&#8217; System for Electronic Document Analysis and Retrieval (SEDAR) at <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3081637-1&amp;h=3817281132&amp;u=http%3A%2F%2Fwww.sedar.com%2F&amp;a=www.sedar.com\" rel=\"nofollow noopener noreferrer\">www.sedar.com<\/a> for a more complete discussion of such risk factors and their potential effects.<\/i>\n      <\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder2700\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/1446314\/New_Found_Gold_Corp__Keats_Step_Out_Returns_29_1_g_t_Au_over_11_5.html\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/1446314\/New_Found_Gold_Corp__Keats_Step_Out_Returns_29_1_g_t_Au_over_11_5.jpg\" title=\"New Found Gold Corp.Logo (CNW Group\/New Found Gold Corp.)\" alt=\"New Found Gold Corp.Logo (CNW Group\/New Found Gold Corp.)\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder0\"><\/div>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=VA93956&amp;sd=2021-03-01\" \/> View original content to download multimedia:<a id=\"PRNURL\" rel=\"nofollow\" href=\"http:\/\/www.prnewswire.com\/news-releases\/keats-step-out-returns-29-1-gt-au-over-11-4m-extends-high-grade-zone-to-250m-down-plunge-301237156.html\">http:\/\/www.prnewswire.com\/news-releases\/keats-step-out-returns-29-1-gt-au-over-11-4m-extends-high-grade-zone-to-250m-down-plunge-301237156.html<\/a><\/p>\n<p>SOURCE  New Found Gold Corp.<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=VA93956&amp;Transmission_Id=202103010800PR_NEWS_USPR_____VA93956&amp;DateId=20210301\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire Vancouver, BC, March 1, 2021 \/PRNewswire\/ &#8211; New Found Gold Corp.\u00a0(&#8220;New Found&#8221; or the &#8220;Company&#8220;) (TSXV: NFG) (OTC: NFGFF)\u00a0is pleased to announce assay results from an interval drilled approximately 125m down plunge to the south of previously reported intervals at the Keats Zone (&#8220;Keats&#8220;), doubling the known extent of the high-grade gold mineralization at Keats.\u00a0 This hole was drilled as part of the Company&#8217;s ongoing 200,000m diamond drill program at its 100%-owned Queensway Project (&#8220;Queensway&#8220;), located on the Trans-Canada Highway 15 km west of Gander, Newfoundland.\u00a0View PDF version Highlights A broad interval of intense quartz veining containing visible gold and sulphide mineralization within the Keats-Baseline fault was submitted on a rush basis and returned the following interval: Hole &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/keats-step-out-returns-29-1-g-t-au-over-11-4m-extends-high-grade-zone-to-250m-down-plunge\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Keats Step-Out Returns 29.1 g\/t Au over 11.4m, Extends High-Grade Zone to 250m Down Plunge&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-446872","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/keats-step-out-returns-29-1-g-t-au-over-11-4m-extends-high-grade-zone-to-250m-down-plunge\/","og_locale":"en_US","og_type":"article","og_title":"Keats Step-Out Returns 29.1 g\/t Au over 11.4m, Extends High-Grade Zone to 250m Down Plunge - Market Newsdesk","og_description":"PR Newswire Vancouver, BC, March 1, 2021 \/PRNewswire\/ &#8211; New Found Gold Corp.\u00a0(&#8220;New Found&#8221; or the &#8220;Company&#8220;) (TSXV: NFG) (OTC: NFGFF)\u00a0is pleased to announce assay results from an interval drilled approximately 125m down plunge to the south of previously reported intervals at the Keats Zone (&#8220;Keats&#8220;), doubling the known extent of the high-grade gold mineralization at Keats.\u00a0 This hole was drilled as part of the Company&#8217;s ongoing 200,000m diamond drill program at its 100%-owned Queensway Project (&#8220;Queensway&#8220;), located on the Trans-Canada Highway 15 km west of Gander, Newfoundland.\u00a0View PDF version Highlights A broad interval of intense quartz veining containing visible gold and sulphide mineralization within the Keats-Baseline fault was submitted on a rush basis and returned the following interval: Hole &hellip; Continue reading \"Keats Step-Out Returns 29.1 g\/t Au over 11.4m, Extends High-Grade Zone to 250m Down Plunge\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/keats-step-out-returns-29-1-g-t-au-over-11-4m-extends-high-grade-zone-to-250m-down-plunge\/","og_site_name":"Market Newsdesk","article_published_time":"2021-03-01T13:03:50+00:00","og_image":[{"url":"https:\/\/mma.prnewswire.com\/media\/1446334\/New_Found_Gold_Corp__Keats_Step_Out_Returns_29_1_g_t_Au_over_11_6.pdf?p=pdfthumbnail","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"10 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/keats-step-out-returns-29-1-g-t-au-over-11-4m-extends-high-grade-zone-to-250m-down-plunge\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/keats-step-out-returns-29-1-g-t-au-over-11-4m-extends-high-grade-zone-to-250m-down-plunge\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Keats Step-Out Returns 29.1 g\/t Au over 11.4m, Extends High-Grade Zone to 250m Down Plunge","datePublished":"2021-03-01T13:03:50+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/keats-step-out-returns-29-1-g-t-au-over-11-4m-extends-high-grade-zone-to-250m-down-plunge\/"},"wordCount":2000,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/keats-step-out-returns-29-1-g-t-au-over-11-4m-extends-high-grade-zone-to-250m-down-plunge\/#primaryimage"},"thumbnailUrl":"https:\/\/mma.prnewswire.com\/media\/1446334\/New_Found_Gold_Corp__Keats_Step_Out_Returns_29_1_g_t_Au_over_11_6.pdf?p=pdfthumbnail","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/keats-step-out-returns-29-1-g-t-au-over-11-4m-extends-high-grade-zone-to-250m-down-plunge\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/keats-step-out-returns-29-1-g-t-au-over-11-4m-extends-high-grade-zone-to-250m-down-plunge\/","name":"Keats Step-Out Returns 29.1 g\/t Au over 11.4m, Extends High-Grade Zone to 250m Down Plunge - 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