{"id":1162828,"date":"2020-01-30T15:54:02","date_gmt":"2020-01-30T21:54:02","guid":{"rendered":"https:\/\/www.mining.com\/?p=1012550"},"modified":"2020-01-30T15:54:02","modified_gmt":"2020-01-30T21:54:02","slug":"new-found-gold-hits-19-metres-of-92-86-g-t-gold-plans-rto","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1162828","title":{"rendered":"New Found Gold hits 19 metres of 92.86 g\/t gold; plans RTO"},"content":{"rendered":"<p>New Found Gold has hit a high-grade, lengthy intercept in its first drill hole at its Queensway gold project, in Canada&#8217;s Newfoundland province, thanks to exploration targeting supported by GoldSpot Exploration\u2019s artificial intelligence technology.<\/p>\n<div class='d-flex justify-content-center d-xs-block d-sm-block d-md-none'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>The hole intersected 19 metres of 92.86 g\/t gold and 6 metres of 285.2 g\/t gold. The mineralization is near surface, starting at 96 metres downhole. The intersection is within a quartz-iron carbonate breccia hosted by black shales and mixed sediments of the Davidsville Group and in the Appleton fault zone.<\/p>\n<p>Ten reconnaissance have been completed with results for nine holes pending.<\/p>\n<p>GoldSpot\u2019s technology allows it to&nbsp;take large land packages and distill all available geological information to identify the most efficient and cost-effective way to explore. The company has invested C$750,000 into New Found Gold in return for shares and royalties.<\/p>\n<p>On Jan. 26, New Found Gold and Mexican Gold entered into a reverse-takeover agreement. Under the terms of the deal, New Found Gold is required to complete a financing of at least C$10 million. After the transaction, the company will have C$19 million in working capital.<\/p>\n<p>The transaction is expected to be completed by the end of April and the company name will change to Bonanza King Mining.<\/p>\n<p><em>(This article first appeared in the <\/em><a href=\"http:\/\/www.canadianminingjournal.com\/\"  rel=\"noreferrer noopener\"><em>Canadian Mining Journal<\/em><\/a><em>)<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company and Mexican Gold entered a reverse takeover agreement this week.<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[369],"tags":[43],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1162828"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1162828"}],"version-history":[{"count":1,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1162828\/revisions"}],"predecessor-version":[{"id":1162829,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1162828\/revisions\/1162829"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1162828"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1162828"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1162828"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}