Business UpdateJun 2, 2026, 07:06 AM
New Found Gold Expands Queensway Program to $44M, Adds Drilling
AI Summary
New Found Gold Corp. announced an expanded and fully funded $44 million work program for its Queensway Gold Project. The program will include 90,000 meters of diamond drilling, with an increased focus on discovery and resource growth. Six drill rigs will be active, with 40,000 meters dedicated to targeted exploration, district-scale surface exploration, and resource expansion below the current mineral resource. The company aims to advance the project towards its first ore processing in late 2027.
Key Highlights
- New Found Gold Corp. expands Queensway Gold Project work program to $44M.
- The 2026 program includes 90,000 m of diamond drilling with six drill rigs.
- 40,000 m of drilling will focus on targeted exploration and new discoveries.
- Program aims to expand mineral resource estimate and test new targets like Dropkick Zone.
- Surface exploration includes prospecting, soil sampling, mapping, and trenching.
- Company aims to advance Queensway toward first ore processed in late 2027.
Price Impact
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