Greg Matheson, COO of New Found Gold, said the “exceptional intervals” for hole NFGC-20-59 were the largest width x grade of any hole to date at Keats.

“These intervals provide further confirmation by drilling of the substantial zone of high grade gold mineralization near the surface at the north end of Keats,” said Matheson.

Another 41.8 g / t over 2 m interval in hole NFGC-21-105B provides further confirmation by drilling of the continuity of high grade gold mineralization from the subharvest on the bedrock surface to the north. from Keats to the furthest interval from 350m deep to about 170m vertical depth.

Extension drilling at Keats continues on a downward plunge. Holes NFGC-21-165 and NFGC-21-182 are the deepest holes made to date with tests of approximately 425 m in the direction of the plunge. Infill drilling is also progressing, particularly targeting between the plunging expansion zone and the surface.

Two weeks earlier, the company reported an interval of 261.3 g / t Au over 7.2 m in hole NFGC-21-137, which then set a new Keats hole record for metric grade x width. , eclipsing the 92.7 g / t Au over 19m intersected at the end of 2019.

Shares of New Found Gold jumped more than 12% to an all-time high of C $ 8.26 on Tuesday. The Newfoundland-focused gold explorer grew into a billion dollar company with a market capitalization of C $ 1.2 billion.