Which US presidential candidate does gold prefer?
Gold loves chaos and should be hitting new highs, especially with inflation coming down and with it, two rate cuts likely before year’s end.
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.
