New Found Gold Corp. Reaffirms Queensway’s Potential with Grade‑Control Drilling Results

New Found Gold Corp. (TSXV: NFG; NYSE American: NFGC) has just released the conclusive outcomes of its 2025 grade‑control drill program on the 100 %‑owned Queensway Gold Project in Newfoundland and Labrador. The data, delivered through a Newsfile Corp. release dated March 1, 2026, confirm that the Keats and Iceberg zones within the AFZ Core (AFZC) continue to yield high‑grade gold at the surface across broad widths.

Technical Highlights

  • High‑grade, surface‑level gold – The most recent assays show that the drill targets intersected significant gold concentrations at or near the surface, a key attribute for economic feasibility.
  • Broad widths – The gold grades were sustained over wide intercepts, mitigating the risk of narrow, isolated pockets that could inflate costs or limit recoverable tonnage.
  • Keats & Iceberg zones – These sub‑zones are now substantiated by multiple drill intersections, reinforcing their status as primary targets for future expansion drilling.

Strategic Implications

The Queensway Project remains New Found Gold’s flagship asset. The confirmation of high‑grade, broad‑width gold at the surface strengthens the company’s argument for continued capital allocation to the site, potentially accelerating the timeline toward a pre‑conceptual resource estimate.

The firm’s focus on Newfoundland and Labrador aligns with the province’s supportive regulatory environment and a proven track record of gold discoveries. By maintaining a 100 % ownership stake, New Found Gold retains full control over exploration and development decisions, a critical factor for investor confidence.

Market Context

As of 23 February 2026, New Found Gold’s shares traded at CAD 3.86, positioned below the 52‑week high of CAD 4.89 (achieved on 25 January 2026) but comfortably above the low of CAD 1.34 (recorded on 6 April 2025). With a market capitalization of CAD 1.29 billion, the company sits at a modest valuation relative to its exploration upside.

The recent drill results come at a pivotal time when investors are reassessing the value of junior miners with clear, high‑grade prospects. New Found Gold’s data set, combined with its solid ownership structure, provides a compelling narrative for the company’s potential to move from exploration to production.

Conclusion

New Found Gold Corp. has once again demonstrated that its Queensway Gold Project is not merely a speculative venture but a promising source of high‑grade, surface‑level gold. The drill results reinforce the company’s strategic vision and underline the importance of maintaining a disciplined exploration program in a region rich with untapped mineral potential. As the market continues to scrutinize junior miners, New Found Gold’s latest data position it favorably for those seeking a well‑targeted, high‑grade gold exploration opportunity.