Project UpdateJun 11, 2026, 07:06 AM
New Found Gold Hammerdown Project on Track for H2/26 Production
AI Summary
New Found Gold Corp. provided an update on its 100% owned Hammerdown Gold Project, confirming it remains on track for commercial production in the second half of 2026. The company anticipates an annual gold production run rate of 20,000 to 25,000 ounces at an all-in sustaining cost of approximately US$2,500 per ounce. Key advancements include achieving zero lost time incidents, consistent mill throughput exceeding design criteria, and successful local hiring efforts, with 40 new jobs created.
Key Highlights
- Project remains on schedule for commercial production in H2/26.
- Anticipates 20,000 to 25,000 ounces of gold produced per year at approximately US$2,500 all-in sustaining cost.
- Achieved zero Lost Time Incidents and Total Recordable Incident Frequency Rate of 0 after over 105,000 person-hours worked in 2026.
- Mill throughput consistently exceeds PEA design criteria of 700 tpd, with a peak of 1,394 tpd.
- Gold recovery improved to 87%, with an anticipated increase to 92% after CIL circuit conversion.
- 40 new jobs created to date, with over 90% of new hires from Newfoundland and Labrador.
- Approximately 7,000m of grid-based grade control drilling completed out of 20,000m.
Price Impact
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