New Found Gold Corp. (NYSE:NFGC) is among the 11 Best Gold Stocks to Buy for 2026. New Found Gold Corp. (NFGC) Completes Key Milestone at Queensway Gold Project by Entering into Phase 1 EPCM Contract On January 26, 2026, New Found Gold Corp. (NYSE:NFGC) entered into a Phase 1 EPCM contract with WSP Canada Inc. for site planning and detailed engineering of an offsite milling plant, advancing its 100%-owned Queensway Gold Project in Newfoundland and Labrador. The corporation intends to grow and modernize i ...

Core Insights - New Found Gold Corp. has made significant advancements at its 100%-owned Queensway Gold Project, including entering into a Phase I EPCM contract [1][3] Project Advancements - The commencement of EPCM work is viewed as a key milestone for advancing the Queensway project, with a timeline from initial mineral resource in early 2025 to a planned first gold pour in late 2027 [3] - The project benefits from a high-grade core deposit, ownership of the Pine Cove operation with permitted milling and tailings facilities, and a favorable mining jurisdiction in Newfoundland and Labrador [3] - The region is ranked in the top 10 globally in the Fraser Institute's 2024 Annual Survey of Mining Companies, providing excellent access, infrastructure, and a skilled labor force [3] EPCM Contract Details - The EPCM contract has been awarded to WSP Canada Inc. for the development of the Queensway Phase 1 project, which includes site development and detailed engineering for an offsite milling facility [6] - The company plans to upgrade and expand the Pine Cove Mill to process both Hammerdown and Queensway Phase 1 feed from a single facility [6] Environmental and Financial Aspects - The environmental baseline work at Queensway is substantially completed, with plans to submit an Environmental Registration to the Newfoundland and Labrador Department of Environment, Conservation and Climate Change in late Q1 2026 [6] - The company has engaged Cutfield Freeman & Co. Ltd. as its project finance advisor to select an optimal financing package for the initial capital expenditure required for Queensway Phase 1 production [6] Technical and Timeline Updates - An updated Technical Report, including a new mineral resource estimate, is planned for mid-2026 [6] - The objective is to achieve the first gold pour from Queensway Phase 1 in the second half of 2027, pending all required permits [6][7]

Core Insights - New Found Gold Corp. has commenced its 2026 drill program at the Queensway Gold Project, focusing on resource conversion and exploration targets [1][3] - The K2 zone has shown consistent gold mineralization, with results aligning closely with the initial mineral resource block model, indicating potential for resource growth [3][11] 2026 Drill Program and Exploration Update - The 2026 drill program includes four active rigs focusing on infill drilling at the K2 and Cokes zones, aiming to convert inferred resources to indicated [4] - Exploration drilling is set to begin at the newly acquired Bullseye mineral license, targeting a 500 m corridor along the Appleton Fault Zone [4] - Regional exploration efforts are ongoing, with soil sampling programs designed to generate new trenching and drill targets for future advancement [5] K2 Infill Summary and Results - The K2 zone is defined by a mineralized footprint of approximately 490 m in length and 395 m in width, with gold mineralization starting at the surface and extending to a maximum depth of 250 m [6] - Initial 2025 K2 infill results have been released, with additional drilling continuing to demonstrate consistent gold mineralization [10][11] - Notable drill results include intersections of 5.22 g/t Au over 14.90 m and 18.9 g/t Au over 2.40 m, among others [8][12] 2025 Drill Program Summary - The 2025 drill program involved 74,377 m of drilling across 614 diamond drill holes, with 75% focused on the AFZ Core area [16] - Approximately 50% of the results from the 2025 drilling remain outstanding, including results from various zones and ongoing grade-control drilling [17] Future Plans - The 2026 infill drilling will initially target PEA Phase 2 open pit resource conversion, transitioning to Phase 3 underground resource conversion later in the year [18] - Additional grade-control drilling is planned for the Iceberg excavation, with potential expansions at the Keats and Iceberg excavations [19] - Exploration drilling will focus on resource expansion at the AFZ Core and advanced targets at Queensway South, expected to commence in H2/26 [21]

New Found Gold Corp (NYSE: NFGC) is one of the best debt-free penny stocks to buy right now. On January 7, the company’s CEO, Keith Boyle, confirmed its successful transformation into an emerging Canadian gold producer. The transformation from an early-stage exploration company continued in 2025, when the company delivered MR and PEA at Queensway and strengthened its balance sheet. New Found Gold Corp. (NFGC) Transitions into Emerging Canadian Gold Producer The Canadian gold miner completed a C$63 millio ...

Core Insights - New Found Gold Corp. has transitioned from an early-stage exploration company to an emerging Canadian gold producer in 2025, with a focus on a multi-asset portfolio in Newfoundland and Labrador [1][2][3] Company Transformation - The strategic acquisition of Maritime Resources Corp. marks a significant shift for New Found Gold, allowing it to control the Queensway project, which has a high-grade mineral resource base [3][16] - The company has strengthened its governance with a new board and management team, including experienced mining executives and capital markets specialists [6][7] Financial Milestones - New Found Gold completed a C$63 million bought deal financing and a C$20 million private placement, enhancing its financial position and confirming support from key investors [3][18] - The initial Mineral Resource Estimate (MRE) for the Queensway project indicates 18.0 million tonnes at 2.40 grams per tonne of gold, totaling 1.39 million ounces indicated, and 10.7 million tonnes at 1.77 grams per tonne for 0.61 million ounces inferred [3][8] - A Preliminary Economic Assessment (PEA) revealed a C$743 million after-tax NPV5% and a 56.3% after-tax IRR at a base case gold price of US$2,500/oz, with a life of mine all-in sustaining cost of US$1,256/oz [3][9] Project Development - The company aims to ramp up production at Hammerdown and advance the Queensway project through engineering, permitting, and project finance, targeting a construction decision in late 2026 and first production in H2 2027 [4][20] - The 2025 work program included over 74,000 meters of diamond drilling, focusing on resource definition and exploration, with significant high-grade discoveries [10][11] Exploration Potential - Exploration efforts outside the AFZ Core have demonstrated the broader district's potential, with high-grade gold discovered at the Dropkick zone and ongoing work at other targets [13][14] - The Queensway land package has expanded to 230,225 hectares, a 31% increase from 2024, enhancing the company's exploration footprint [14]

Core Insights - New Found Gold Corp. announced infill drill results from the Monte Carlo zone in the AFZ Core as part of its ongoing 2025 drill program on the Queensway Gold Project in Newfoundland and Labrador, Canada [1][3] Drill Results - The infill drilling aimed to upgrade mineral resources from inferred to indicated categories within the Phase 1 and Phase 2 open pits, with 2,306 meters drilled across 28 diamond drill holes [4][5] - Notable drill results include: - 22.4 g/t Au over 4.75 m from 102.25 m (NFGC-25-2462) - 6.59 g/t Au over 12.20 m from 33.00 m (NFGC-25-2450) - 25.5 g/t Au over 2.70 m from 29.00 m (NFGC-25-2447) [7][19] Geological Context - Gold mineralization at Monte Carlo extends approximately 235 m in strike length and to a depth of 160 m, situated within a fault zone on the western side of the Appleton Fault Zone [6] Future Plans - The company plans to integrate the new drill results into an updated mineral resource estimate scheduled for H1 2026 [3] - Future drill programs will focus on upgrading and expanding the underground portion of the Monte Carlo zone [3][4] Ongoing Drilling Programs - The 2025 Queensway drill program, which commenced in May 2025, is over 95% complete and is expected to conclude in Q4 2025 [13] - Additional drilling includes geotechnical, condemnation, and hydrogeological drilling, all aimed at supporting the Phase 1 mine plan [14] Exploration Activities - Exploration drilling continues in the vicinity of the Dropkick zone, where a new zone of gold mineralization is being outlined [15] - An excavation program has been completed at the Lotto zone, with results pending from the analysis of samples collected [16] Company Overview - New Found Gold is focused on advancing the Queensway Gold Project and bringing the Hammerdown Operation into steady-state production [38] - The company holds a 100% interest in Queensway and has a solid shareholder base, including cornerstone investor Eric Sprott [38]

Core Viewpoint - New Found Gold Corp. has successfully completed the acquisition of a 100% interest in mineral claims in Newfoundland and Labrador, expanding its Queensway Gold Project by up to 31% to a total of 230,225 hectares [1][2]. Group 1: Acquisition Details - The acquisition includes mineral claims previously held by Exploits Discovery Corp., which adjoin New Found Gold's existing Queensway Gold Project [1]. - As part of the acquisition, New Found Gold issued 2,821,556 common shares to Exploits and granted a 1% net smelter returns royalty on certain mineral claims [2][3]. - The company will issue an additional 725,543 shares to Exploits following a positive final determination by the Supreme Court of Newfoundland and Labrador regarding disputed mineral claims [2]. Group 2: Project Expansion and Exploration Plans - The expansion consolidates a district-scale land package of over 110 kilometers along two major fault zones, the Appleton and the JBP [2]. - New Found Gold has outlined a significant initial mineral resource with robust preliminary economics at the AFZ Core and plans to commence exploration on the new landholdings [2][7]. - Recent drilling has yielded new discoveries, indicating the camp-scale potential at Queensway [2][7]. Group 3: Company Overview - New Found Gold is an emerging Canadian gold producer with a focus on advancing the Queensway project and bringing the Hammerdown Operation into steady-state gold production [6]. - The company has a new board of directors and management team, with a solid shareholder base including cornerstone investor Eric Sprott [8].

Core Insights - New Found Gold Corp. has confirmed high-grade gold mineralization at the Keats zone of its Queensway Gold Project, with notable drill results including 219 g/t Au over 9.35 m and 160 g/t Au over 10.30 m [1][5][10] Company Overview - New Found Gold Corp. holds a 100% interest in the Queensway Gold Project and is focused on advancing it into production [38] - The company has also acquired the Hammerdown Gold Project and is working towards steady-state gold production [38] Drilling Program Details - The initial results reported are from 16 of 84 diamond drill holes, representing approximately 20% of the total results from the grade control drilling program [4][6] - The drilling program aims to enhance confidence in the grade distribution of high-grade, near-surface mineralization and support mine planning [4][10] Drill Results Highlights - Significant drill results include: - 219 g/t Au over 9.35 m from 19.00 m [5] - 160 g/t Au over 10.30 m from 5.10 m [5] - 105 g/t Au over 10.20 m from 15.80 m [5] - The results align well with the initial mineral resource estimate block model, confirming strong continuity of high-grade mineralization at Keats [10] Future Plans - The company plans to expand the grade control drilling program in 2026, optimizing drill hole spacing and program scope based on 2025 results [12] - The 2025 Queensway drill program, which commenced in May 2025, is over 90% complete and is expected to finish all proposed drilling in Q4/25 [14][15] Exploration and Excavation Activities - Ongoing exploration drilling is taking place in the vicinity of the Dropkick zone, where a new zone of gold mineralization is being outlined [16] - An excavation program has been completed to validate the geological model and collect analytical information across key zones for the Preliminary Economic Assessment Phase 1 mine plan [17]

Core Insights - New Found Gold Corp. has engaged Cutfield Freeman & Co. Ltd. as its project finance advisor to assist in financing strategies for the Queensway Gold Project [1][2] - The company is targeting a $155 million initial capital expenditure for Phase 1 production, expected to commence in the second half of 2027 [3][10] Company Overview - New Found Gold is an emerging Canadian gold producer with a 100% interest in the Queensway project and additional operations including Hammerdown, Pine Cove, and Nugget Pond [4][6] - The company aims to advance the Queensway project towards production while stabilizing the Hammerdown operation [4][6] Project Development - The Queensway Gold Project has shown promising results from recent drilling, indicating significant district-scale potential along a 110 km strike extent [5] - A Preliminary Economic Assessment (PEA) was completed in July 2025, further supporting the project's viability [5] Management and Strategy - The company has a new board of directors and management team, with a focus on growth and value creation [6] - CEO Keith Boyle emphasized the importance of selecting optimal financing packages for the development and construction of mining projects [3][6]

Core Insights - New Found Gold Corp. has announced new results from infill and expansion drilling at the K2 and Jackpot zones of the Queensway Gold Project, indicating strong continuity of gold mineralization and potential for resource expansion [1][3][4] Drilling Results - The recent drilling program included 5,777 meters across 46 diamond drill holes, with 5,293 meters at K2 and 484 meters at Jackpot [5][6] - Significant drill results from K2 include: - 16.7 g/t Au over 12.25 m [8] - 5.32 g/t Au over 18.85 m [8] - 4.17 g/t Au over 18.00 m [8] - At Jackpot, notable results include: - 15.10 g/t Au over 2.30 m [27] Resource Upgrade Objectives - The primary goal of the drilling at K2 and Jackpot is to upgrade mineral resources from inferred to indicated categories within the Preliminary Economic Assessment (PEA) Phase 1 open pits [9][14] - The drilling at K2 has confirmed good continuity of gold mineralization and a strong correlation with the existing mineral resource estimate [9][10] Future Plans - An updated mineral resource estimate is planned for H1 2026, focusing on high-grade mineralization areas identified during the recent drilling [10][13] - The 2025 Queensway drill program, which commenced in May 2025, is over 85% complete and is expected to conclude in Q4 2025 [18][19] Company Overview - New Found Gold Corp. holds a 100% interest in the Queensway Gold Project and is focused on advancing it into production [42][43] - The company has also completed a PEA at Queensway in 2025, highlighting the project's district-scale potential along two prospective fault zones [44]