Advertisement
Singapore markets closed
  • Straits Times Index

    3,224.01
    -27.70 (-0.85%)
     
  • S&P 500

    5,248.49
    +44.91 (+0.86%)
     
  • Dow

    39,760.08
    +477.75 (+1.22%)
     
  • Nasdaq

    16,399.52
    +83.82 (+0.51%)
     
  • Bitcoin USD

    70,691.05
    +478.70 (+0.68%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • FTSE 100

    7,952.37
    +20.39 (+0.26%)
     
  • Gold

    2,233.20
    +20.50 (+0.93%)
     
  • Crude Oil

    82.48
    +1.13 (+1.39%)
     
  • 10-Yr Bond

    4.1960
    0.0000 (0.00%)
     
  • Nikkei

    40,168.07
    -594.66 (-1.46%)
     
  • Hang Seng

    16,541.42
    +148.58 (+0.91%)
     
  • FTSE Bursa Malaysia

    1,530.60
    -7.82 (-0.51%)
     
  • Jakarta Composite Index

    7,288.81
    -21.28 (-0.29%)
     
  • PSE Index

    6,903.53
    +5.36 (+0.08%)
     

New Found Gold Surges On New High-Grade Zone Discovery

By Sam Boughedda

Investing.com — New Found Gold Corp (NYSE:NFGC) stock jumped 14% after it announced the discovery of a new high-grade zone at the Keats Zone located along the Appleton Fault Zone at its Queensway Project in Newfoundland.

The Canada-based gold firm, which had an IPO last month, the area where the discovery was made remains underexplored, but several high-grade intercepts have been previously located in the zone.

The company warned that the area is 'structurally complex' and hosts several secondary high-grade gold-bearing fault zones, requiring follow-up drilling.

Exploration drilling is now testing the extent and orientation of the high-grade gold domains in the area.

ADVERTISEMENT

"The progression of drilling at Keats including the recognition of the potential for multiple zones of high-grade gold mineralization in veining and associated structures at different orientations very closely parallels the discovery progression I observed in the high-grade discoveries at the Fosterville Mine," stated Dr. Quinton Hennigh, Director of New Found.

The Fosterville mine, located in Victoria, Australia, and owned by Kirkland Lake Gold (NYSE:KL), is considered the highest grade (42 grams per ton), lowest cost gold mine in the world.

Related Articles

New Found Gold Surges On New High-Grade Zone Discovery

Delta Air CEO calls vaccine mandates 'very blunt instrument'

JPMorgan edges closer to leaving pandemic behind, its earnings show