New Found Gold Announces Infill and Expansion Drilling at the K2 Zone, Queensway Gold Project

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]