Positive drill results near existing pits could de-risk the project and support a resource upgrade. Monitor for the updated Technical Report in H2 2026 and further step-out drilling results.
Price Chart
Executive Summary
New Found Gold reported final Phase 1 infill and step-out drill results from its Queensway Gold Project, confirming high-grade gold continuity in the AFZ Core. Highlights include 9.51 g/t Au over 19.85 m at Keats West and 36.1 g/t Au over 2.0 m at Keats. Step-out drilling below planned pits also returned significant intercepts like 9.15 g/t Au over 7.15 m, supporting resource expansion potential. The results align with the existing block model and will feed into an updated mineral resource estimate expected in H2 2026.
Key Facts
- Final Phase 1 infill drilling confirms continuity of gold mineralization in the AFZ Core at Keats West, Iceberg, and Keats zones.
- Highlights include 9.51 g/t Au over 19.85 m (Keats West), 36.1 g/t Au over 2.0 m (Keats), and 8.40 g/t Au over 12.45 m (Iceberg).
- Step-out drilling below Phase 2 open pits intersected 9.15 g/t Au over 7.15 m (Keats) and 14.1 g/t Au over 2.4 m (Iceberg), indicating potential to add resources.
- Condemnation drilling confirmed absence of mineralization under planned infrastructure, supporting mine design.
- Company plans an updated Technical Report with an updated mineral resource estimate in H2 2026.
- 2026 drill program is underway with 4 rigs targeting Phase 2 and Phase 3 resource conversion.
Financial Impact
No financial figures disclosed; drill results support resource upgrade and mine plan advancement.
Risk Factors
- Exploration risk remains; future drilling may not replicate high grades.
- Gold price volatility could impact project economics.
- Dilution risk from future equity financings to fund development.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001062993-26-002282 |
| Document: form6k.htm | 0001062993-26-002282 |
| Document: 0001062993-26-002282-index-headers.html | 0001062993-26-002282 |
| Document: 0001062993-26-002282-index.html | 0001062993-26-002282 |
| Document: 0001062993-26-002282.txt | 0001062993-26-002282 |
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Sep 16, 2026 16d ago | 6-K | $1.73 $1.76 | ▲ +1.73% | ▼ −1.10% | $1.62 (−6.36%) |
Aug 25, 2026 5w ago | 6-K | $2.04 $1.74 | ▼ −14.71% | ▼ −14.17% | $1.62 (−20.59%) |
Aug 14, 2026 7w ago | 6-K | $1.66 $1.90 | ▲ +14.46% | ▲ +15.65% | $1.62 (−2.41%) |
Aug 12, 2026 7w ago | 6-K | $1.65 $1.75 | ▲ +6.06% | ▲ +8.02% | $1.62 (−1.82%) |
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Jun 2, 2026 17w ago | 6-K | $2.05 $1.55 | ▼ −24.39% | ▼ −21.43% | $1.62 (−20.98%) |
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