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New Found Gold Announces Initial Resource Estimate for Queensway Project

Story Highlights
  • New Found Gold Corp. announced an initial Mineral Resource Estimate for its Queensway Gold Project.
  • The project shows potential for expansion and significant shareholder value enhancement.
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New Found Gold Announces Initial Resource Estimate for Queensway Project

New Found Gold ( (TSE:NFG) ) has issued an update.

On March 24, 2025, New Found Gold Corp. announced an initial Mineral Resource Estimate (MRE) for its Queensway Gold Project. The MRE indicates 18.0 million tonnes of indicated resources grading 2.40 g/t gold, amounting to 1.39 million ounces, and 10.7 million tonnes of inferred resources grading 1.77 g/t gold, totaling 0.61 million ounces. The announcement marks a significant milestone for the company, as it plans to advance the project with a preliminary economic assessment in late Q2 2025, aiming to develop a major new gold mine. The project holds potential for expansion, with high-grade veins and numerous additional gold targets identified, which could significantly enhance shareholder value and benefit local communities.

More about New Found Gold

New Found Gold Corp. operates in the mining industry, primarily focusing on gold exploration and development. The company is engaged in the exploration of its Queensway Gold Project located in Newfoundland and Labrador, Canada, which is 100% owned by the company.

YTD Price Performance: -40.41%

Average Trading Volume: 760,957

Technical Sentiment Signal: Buy

Current Market Cap: $229.8M

For an in-depth examination of NFG stock, go to TipRanks’ Stock Analysis page.

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