New Found Gold Commences 2026 Queensway Drill Program; Announces K2 Zone Infill Results

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]