en.Wedoany.com Reported - New Found Gold is expanding its $44 million work program for the Queensway Project in Newfoundland and Labrador, with a primary focus on exploration and resource growth. The project recently secured financing.

In 2026, the company plans to complete 90,000 meters of drilling using six diamond drills, with 45% allocated to exploration and resource expansion, including drilling beneath the core zone of the Appleton Fault Zone (AFZ). New Found Gold President Melissa Render stated in a press release that deep drilling in the AFZ core zone has confirmed the system extends more than 1,000 meters below the current mineral resource.

In addition to the AFZ core zone, the company plans to search for new deposits, focusing exploration efforts on the Pauls Pond, Greenwood, and Gazeebow South areas. Render noted that the Dropkick zone will also continue to be tested, following encouraging results in 2025. The remaining 55% of drilling will focus on resource conversion, grade control drilling, geotechnical engineering, and hydrogeological planning.

Render added that the project is progressing toward development targets, with ore processing expected to begin by the end of 2027.

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