Gold Fields may sell smaller mines after Osisko acquisition
The Johannesburg-based gold miner is shifting focus to advancing its new Salares Norte mine in Chile.
New Found Gold (TSXV: NFG) continues to drill bonanza grades at its 100%-owned Queensway gold project about 15 km west of Gander, Newfoundland.
Successful drilling at Golden Joint means that high-grade mineralization has been traced to the surface, 1 km north of the Keats deposit on the east side of the Appleton fault zone.
One of the best results include 67.5 g/t over 2.7 metres, including 108 g/t over 1.7 metres. There were several other short intervals, including 190.24 g/t over 0.3 metre, 140 g/t over 0.4 metre, 194 g/t over 0.5 metre, and 165.13 g/t over 0.6 metre.
The latter numbers were from high-grade inclusions in longer drill cores. The longest mineralized core was 12 metres at 2.46 g/t gold, including 23.9 g/t gold over 0.9 metre.
Melissa Render, New Found VP exploration, said the first barge-supported drill program that the company attempted went off without a hitch.
“Our geological model suggested that high-grade mineralization at Golden Joint would extend to surface and today’s results confirm this while demonstrating strong continuity of high-grade within this previously untested panel,” she said.
Further drilling is planned at Golden Joint to focus on the structure at depth. It is part of the 500,000-metre drill program at Queensway.
