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New Found Gold To Expand Queensway Gold Project 2025 Work Program

Author: Benzinga Newsdesk | June 16, 2025 05:13pm

Highlights:

70,000 metres ("m") diamond drill program underway;
Approximately 11,750 m in 104 DDH1 has been drilled to date, with five drill rigs currently on site;
80% of planned drilling focused on resource definition and pre-development work and 20% on exploration;
The AFZ Core excavation program is underway, with channel sampling of the Iceberg excavation approximately 80% complete and the Lotto excavation commencing shortly;
A regional exploration program at Queensway South and Queensway North is underway and is expected to run until late September, 2025;
In addition to a PEA2 planned for release in late Q2/25, the Company is conducting ongoing engineering studies, including metallurgical testwork and trade-off studies; and
Additional environmental work will be undertaken in 2025 to ensure that all baseline studies are completed for upcoming permitting processes.

Posted In: NFGC