New Found Gold Expands High-Grade Zones at Queensway Project

The latest update is out from New Found Gold ( (TSE:NFG) ).

New Found Gold Corp. has announced significant drill results from its Queensway Gold Project, highlighting the expansion of the Dropkick and Pistachio zones. The Dropkick zone has shown high-grade gold mineralization both west and east of the Appleton Fault Zone, with potential for further resource expansion. The Pistachio zone has also seen an extension of high-grade mineralization, indicating promising prospects for future exploration and resource development. These findings underscore the potential for significant growth in New Found Gold’s resource base, enhancing its position in the gold exploration sector.

The most recent analyst rating on (TSE:NFG) stock is a Buy with a C$3.00 price target. To see the full list of analyst forecasts on New Found Gold stock, see the TSE:NFG Stock Forecast page.

Spark’s Take on TSE:NFG Stock

According to Spark, TipRanks’ AI Analyst, TSE:NFG is a Neutral.

New Found Gold’s overall score reflects significant challenges typical for exploration companies, including lack of revenue and negative technical momentum. However, a strong equity position and promising corporate developments provide potential upside, making it a speculative investment with high risk and potential long-term reward.

To see Spark’s full report on TSE:NFG stock, click here.

More about New Found Gold

New Found Gold Corp. operates in the mining industry, focusing on gold exploration and development. The company is primarily engaged in the exploration of its Queensway Gold Project in Newfoundland and Labrador, Canada, aiming to expand its gold resources through strategic drilling programs.

Average Trading Volume: 655,230

Technical Sentiment Signal: Sell

Current Market Cap: C$335M

Learn more about NFG stock on TipRanks’ Stock Analysis page.