New found gold reports high-grade drilling results at queensway

VANCOUVER - New Found Gold Corp. (TSXV:NFG) (NYSE-A:NFGC), a mining exploration company with a market capitalization of $7.4 billion and showing strong momentum with a 56% return over the past year, announced Wednesday its first drill results from the 2025 Work Program at its wholly-owned Queensway Gold Project in Newfoundland and Labrador, showing significant high-grade gold intercepts.

The results from the Keats West zone include notable intercepts of 55.0 grams per tonne (g/t) of gold over 35.05 meters, 20.7 g/t gold over 18.05 meters, and 15.4 g/t gold over 16.70 meters from open pit infill drilling. According to InvestingPro data, the company maintains a "GOOD" overall financial health score, suggesting strong operational stability.

Underground infill drilling yielded 7.08 g/t gold over 15.55 meters, which the company says demonstrates potential to expand mineralization beyond current open pit boundaries.

The drilling program, which included 2,691 meters across 22 diamond drill holes completed in Q2 2025, was designed to increase confidence in high-grade domains within the Keats West mineral resource estimate (MRE) open pit constraints.

Melissa Render, President of New Found Gold, stated that the results "confirm the continuity and high-grade tenor of gold mineralization at Keats West, as well as the in-pit and near-pit expansion potential."

The company noted that multiple regions within the Keats West open pit intercepted significant mineralization outside of the current MRE block model, including 4.29 g/t gold over 22.00 meters and 2.85 g/t gold over 33.85 meters.

New Found Gold plans to continue its work program at Keats West in the second half of 2025, focusing on completing infill drilling of lower grade material and expansion drilling in newly identified mineralized areas.

The company is also conducting excavation and channel sampling at the Iceberg and Lotto zones, with results to be released as they become available.

A preliminary economic assessment for the Queensway project is ongoing with completion expected in early Q3 2025, according to the press release statement. With analysts forecasting significant sales growth this year and the company trading near its Fair Value based on InvestingPro analysis, investors seeking deeper insights can access comprehensive financial metrics, analyst forecasts, and exclusive ProTips through the platform’s detailed research reports.

In other recent news, National Fuel Gas Company reported second-quarter 2025 earnings that exceeded Wall Street expectations, with an earnings per share (EPS) of $2.39 compared to the forecasted $2.15. Despite revenue coming in at $729.95 million, slightly below the forecast of $768.23 million, the company raised its earnings guidance for the fiscal year to a range of $6.75 to $7.05 per share. Additionally, National Fuel Gas announced a 3.9% increase in its quarterly dividend, raising it from 51.5 cents to 53.5 cents per share. This marks the company’s 55th consecutive year of dividend increases.

In a strategic move, National Fuel Gas has entered into a Consulting Services Agreement with Donna L. DeCarolis, who will retire as President of National Fuel Gas Distribution Corporation in 2025. DeCarolis will provide consulting services for three years following her retirement. Meanwhile, Raymond James has maintained its Market Perform rating on National Fuel Gas, citing a slight adjustment in their EPS estimate due to a weaker gas strip.

The company’s fiscal year 2025 production is expected to reach approximately 1.15 billion cubic feet equivalent per day, aligning with new guidance. National Fuel Gas also anticipates a total capital expenditure of around $918 million for the fiscal year. The company’s resilience amid commodity price volatility is credited to its effective hedging strategy.

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