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New Found Gold to raise $39m for exploration at Queensway, Lucky Strike | |
admin | |
2021-08-18 | |
发布年 | 2021 |
语种 | 英语 |
国家 | 国际 |
领域 | 地球科学 |
正文(英文) | ![]() Newfoundland. Credit: Wikimedia Commons
New Found Gold (TSXV: NFG) is to issue 4.4 million flow-through common shares of the company at a price of C$11.39 each to fund exploration at its Queensway gold project in Newfoundland and its Lucky Strike project in Ontario. The shares will be purchased by a syndicate of underwriters led by Canacccord Genuity and BMO Capital Markets, and will raise a total of C$50 million ($39.5m). The underwriters have been granted an option to purchase up to an additional 15% of shares under the same terms as the original offering. The company is the 100%-owner of the Queensway gold project 15 km west of Gander. A 200,000-metre, eight-rig drill program is underway on the property. It is focused on a 7.8-km corridor along the Appleton fault and a 12.4-km corridor along the JBP fault. The discovery hole at the Keats zone, found along the Appleton fault, returned 19 metres grading 92.9 g/t gold. The best intersection was 5.2 metres of 430.2 g/t gold from the Golden Joint zone at Queensway. Another standout came from the Lotto zone, 5.2 metres of 430.2 g/t. High grade mineralization has been defined over 465 metres down plunge and about 200 metres vertically. Earlier this month, New Found completed a 3-D model of the Keats-Lotto trend. One drill is sequentially testing multiple targets along the JBP fault zone 5 km east of the Appleton fault. New Found is working on an initial resource estimate for Queensway. (This article first appeared in The Northern Miner)
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来源平台 | Minging.com |
文献类型 | 新闻 |
条目标识符 | http://119.78.100.173/C666/handle/2XK7JSWQ/336088 |
专题 | 地球科学 |
推荐引用方式 GB/T 7714 | admin. New Found Gold to raise $39m for exploration at Queensway, Lucky Strike. 2021. |
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