TNM Drill Down: Newfoundland produces the best gold assay of Mar. 13-17

Our TNM Drill Down features highlights of the top gold assays of the past week. Drill holes are ranked by gold grade x width, as identified by our sister company Mining Intelligence.

New Found Gold (TSXV: NFG) shares popped this week after announcing on Mar. 13 a high-grade intercept drilled below its recent Iceberg discovery at its Queensway gold project in Newfoundland. Hole NFGC-23-1120 returned 49.7 grams gold per tonne gold over 29.9 metres from 63.2 metres depth, for a width x grade value of 1,482. New Found Gold announced the discovery of Iceberg, a high-grade surface zone 300 metres northeast of the Keats Main zone, on Mar. 1. The new diamond drill hole, which also yielded 14.6 grams gold per tonne over 3.8 metres, was completed as part of the company’s follow-up program at Iceberg. It represents a 25-metre stepdown below the fence of the three discovery holes. Starting at 35 metres below surface, hole NFGC-23-1120 showed a nearly continuous 40-metre drilled mineralized interval. High-grade gold mineralization is said to be well distributed throughout the intercept, with 19 samples registering over 10 grams gold per tonne and nine samples grading above 50 grams gold.

Collective Mining (CSE: CNL) reported the week’s second-best assay result from the Guayabales project in Colombia. Hole APC-35 returned 359.2 metres grading 1.8 grams gold per tonne from 7 metres depth, for a width x grade value of 661. The hole was the best for the project to date. It and hole APC-33 tested the mineralized outcrop of the Apollo porphyry system and intersected significant continuous high-grade copper-silver-gold mineralization from the surface. Both holes terminated in strong mineralization at over 350 metres vertical depth. Hole APC-35 intersected significant and ongoing copper mineralization in both drill holes directly below the oxide zone of mineralization. Deeper drilling is planned as part of the second phase 2023 drilling program.

Carlyle Commodities (CSE: CCC) reported the third-best assay result of the week, which was its first ever at its Newton gold-silver project in British Columbia. Hole N23-089 returned 689 metres grading at 0.51 gram gold per tonne from 18 metres depth for a width x grade value of 351. After acquiring the project in 2020, the company’s Newton exploration permit was delayed in process for about a year with B.C. regulators. Following its issuance in June last year, the first phase of drilling was completed last month. The holes tested the continuity of the main mineralized felsic volcanic domain, which historically had not been tested below about 500 metres depth. The company said hole N23-089 confirmed that the felsic domain is much more extensive than previously understood and demonstrates opportunities to expand the current inferred resource and define new mineralized zones.