New Found Gold Corp. (TSXV: NFGC) announced on October 15 2025 that it had completed step‑out drilling at the Dome zone of its Queensway Gold Project in Newfoundland and Labrador. The 79‑hole, 11,187‑meter program produced two high‑grade intercepts: 10.4 g/t Au over 20.50 m and 7.47 g/t Au over 13.40 m, confirming gold mineralization extending below the current PEA pit shell.
The Dome zone lies immediately south of Lotto and east of the Appleton Fault Zone within the AFZ Core. The new intercepts represent a high‑grade domain that begins roughly 100 m below the existing open‑pit depth of 38 m, indicating significant potential for resource expansion beyond the current 38‑m depth. The results are consistent with the existing block model and will be incorporated into the next mineral resource update.
These drill results reinforce the company’s strategy of converting inferred resources to indicated resources and expanding the high‑grade core that underpins the Queensway PEA. The confirmation of high‑grade gold at depth supports the projected economics of the Phase 1 mine plan and provides a stronger basis for future development and financing decisions.
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