New Found Gold Corp. has extended the Dropkick zone at its Queensway Gold Project to an 815‑meter strike length, recording high‑grade intercepts of 29.2 g/t Au over 9.25 m and 20.9 g/t Au over 11.10 m.
The zone lies 11 km north of the AFZ Core in Newfoundland and Labrador and now reaches a depth of 285 m. The results confirm the presence of high‑grade gold mineralization and leave the zone open along strike and depth for further delineation.
The expansion supports the company’s preliminary economic assessment, which projects a 15‑year mine life, 1.5 million ounces of gold, and an all‑in sustaining cost of US$1,256 per ounce. The assessment outlines a phased development plan with initial production targeted for Q3 2027.
New Found Gold’s strategic trajectory is reinforced by its pending acquisition of Maritime Resources Corp., announced September 5 2025. The acquisition will provide near‑term cash flow from the Hammerdown Gold Project and help fund continued drilling and development at Queensway.
The company remains an exploration‑stage entity, with exploration expenses of $32.9 million for the trailing twelve months ending March 31 2025 and a net loss of $32.9 million. The next earnings report is expected in mid‑November 2025.
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