New Found Gold Corp. (CVE: NFG) (NYSE-A: NFGC) announced high grade drill results from its Queensway Gold Project in Newfoundland and Labrador, Canada.
On Friday, the strongest results came out of the Dropkick Zone in the Appleton Fault Zone including 42.8 grams per ton (g/t) gold (Au) over 14.95 meters.
The announcement included results from 13,768 m of drilling from the final 38 holes completed in Q4/24.
The program focused on exploration at AFZ Peripheral (formerly the Kingsway Project) and several other zones across Queensway North. Crews conducted step-out drilling at Dropkick to target new high-grade mineralization and trace the strike extension of the gold-bearing host fault.
They also tested the eastern side of the AFZ. Furthermore, step-out drilling at Pistachio aimed to expand the high-grade zone. In addition, the team completed systematic reconnaissance drilling along the AFZ Peripheral segment.
“In these final drill results from the 2024 exploration program we continue to intersect high-grade gold mineralization and expand both Dropkick and Pistachio,” said Melissa Render, president of New Found Gold.
“At Dropkick, we have now discovered gold mineralization both west and east of the AFZ.”
Render also said that the continued results from Dropkick and Pistachio show strong potential. These results further support the opportunity for near-surface resource expansion along the strike of this prolific gold system. Additionally, they highlight the broader exploration upside across the Queensway project area.
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Results expand high-grade mineralization
Step-out drilling west of the AFZ at Dropkick returned strong gold intercepts, including 42.8 g/t Au over 14.95 m.
Further highlights include 47.6 g/t Au over 3.95 m, 22.9 g/t Au over 2.40 m, and 5.77 g/t Au over 6.55 m. These results follow up on discovery holes announced in February 2025.
Additionally, drilling extended to the east side of the AFZ intersected 5.30 g/t Au over 15.20 m—the first mineralization found east of the AFZ at Dropkick.
This new eastern domain remains open for follow-up drilling. The results have expanded high-grade mineralization across a 150 m by 75 m area. The Dropkick fault zone now extends 580 m along strike.
Gold mineralization starts at surface and reaches a depth of 285 m, remaining open in all directions. Furthermore, Dropkick is the most northern discovery on the AFZ, located 11 km northeast of AFZ Core.
Gold in these holes resembles earlier discoveries, with coarse free gold in quartz veins hosted in interbedded siltstone and sandstone.
Highlights from the drill projects include:
- Dropkick zone west of the Appleton Fault Zone:
- 47.6 g/t Au over 3.95 m (NFGC-24-2214)
- 22.9 g/t Au over 2.40 m (NFGC-24-2205)
- Dropkick mineralization has now been intersected over a 580 m strike extent
- Open in all directions
- Dropkick east of the AFZ:
- 5.30 g/t Au over 15.20 m (NFGC-24-2233)
- A newly identified domain at Dropkick on the eastern side of the AFZ
- Open in all directions
- Pistachio zone
- 5.34 g/t Au over 7.30 m (NFGC-24-2190)
- 240 m strike length delineated to date with a high-grade portion constrained by one underground panel in the initial mineral resource estimate
- Open down plunge and to depth
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Newfoundland has high grade gold potential
Newfoundland and Labrador has rapidly emerged as a premier destination for gold exploration and development in Canada. Its geological potential, particularly across the Central Newfoundland Gold Belt, has attracted both major producers and junior developers seeking high-grade discoveries and scalable resources.
Calibre Mining Corp (TSE: CXB) (OTCMKTS: CXBMF) (FRA: WCLA) is one of the most prominent players in the province. The company acquired Marathon Gold in early 2024, gaining control of the Valentine Gold Mine in central Newfoundland.
This open-pit operation represents the province’s largest undeveloped gold resource, with first gold production anticipated in 2025. The project benefits from strong infrastructure, road access, and a skilled workforce. Calibre views Valentine as a cornerstone asset in its strategy to become a leading mid-tier gold producer in the Americas.
In addition to Calibre, other companies are moving toward gold production.
Sokoman Minerals Corp (CVE: SIC) (OTCMKTS: SICNF) is another active player, advancing its Moosehead Gold Project in central Newfoundland. While not yet in production, Sokoman has delivered high-grade drill results that have drawn attention from both investors and potential partners. Its strategic land position and focus on epizonal gold systems have made it a notable exploration story.
The combination of new discoveries, growing reserves, and supportive provincial policies has made Newfoundland and Labrador a hotspot for gold investment. With Valentine nearing production and multiple juniors advancing projects, the province is poised to play a larger role in Canada’s gold mining future.
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