New Found Gold Expands and Confirms Continuity of High-Grade Gold Mineralization at the Keats West Zone
Highlights - Keats West 1 in the AFZ Core:
Keats West open pit infill drilling:
55.0 g/t of Au over 35.05 m (NFGC-24-2254) 2
20.7 g/t Au over 18.05 m (NFGC-24-2258).
15.4 g/t Au over 16.70 m (NFGC-24-2260).
Confirms continuity of multiple domains of high-grade gold within Keats West.
Defines regions of new gold mineralization within the proposed Keats West open pit that are currently outside of the MRE 3 block model.
Keats West UG 4 infill drilling:
7.08 g/t Au over 15.55 m (NFGC-24-2243A).
Demonstrates potential to expand high-grade mineralization beyond the current open pit extents.
Melissa Render, President of New Found Gold stated:"Today's 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. These domains of high-grade mineralization start at surface and remain above a vertical depth of 150 metres and are located in proximity to other key zones, such as Iceberg and Keats in the AFZ Core area. Project advancement following the release of the initial MRE in March 2025 is focused on derisking high priority open pits, like Keats West with infill drilling targeting the higher-grade portions to start."
Results Summary
This news release includes results from 2,691 m of drilling in 22 diamond drill holes (" DDH") completed in Q2/25 as part of an infill program at Keats West in the AFZ Core (Tables 1 to 3). The program has been designed to target mineralization within the Keats West MRE open pit constraints, first focussing on converting resource blocks to indicated classification thereby increasing the confidence level in high-grade domains. In addition, results are reported from infill drilling, completed immediately beyond the south end of the proposed Keats West open pit within a preliminary UG panel.
Keats West Open Pit Infill:
Keats West highlight infill holes targeting the high-grade domains announced today include 55.0 g/t Au over 35.05 m (NFGC-25-2254), 20.7 g/t Au over 18.05 m (NFGC-25-2258), 15.4 g/t Au over 16.70 m (NFGC-25-2260) and 13.1 g/t Au over 10.60 m (NFGC-25-2245). These intercepts demonstrate the strong continuity of the high-grade corridors within the hosting Keats West fault zone that has a mineralized footprint of 315 m wide by 305 m long, with true widths averaging 20 m and ranging up to 50 m (Figure 1).
Multiple regions within the Keats West open pit tested by the infill program intercepted significant mineralization outside of the current MRE block model. Intervals in these regions include 4.29 g/t Au over 22.00 m (NFGC-25-2242), 2.85 g/t Au over 33.85 m (NFGC-25-2247), 1.31 g/t Au over 30.00 m (NFGC-25-2257) and 10.6 g/t Au over 4.85 m (NFGC-25-2245) (Figure 2).
Overall, the results correlate well to the MRE block model, with local fluctuations where grades were either higher or lower than anticipated.
Keats West mineralization occurs within a gently south-southwest dipping fault zone that hosts a series of stacked and cross-cutting gold-bearing quartz veins on the west side of the AFZ in the AFZ Core area. The high-grade mineralization starts at surface and extends to depths of 150 m vertical, a shallowly positioned gold system.
Keats West UG Infill:
7.08 g/t Au over 15.55 m (NFGC-25-2243A) was intersected at the south end of the Keats West zone, immediately beyond the proposed open pit, within the extents of one 50 m long preliminary UG panel that contributed to the MRE in the Keats West area (Figures 1 and 2). Follow up drilling has been completed in this sparsely tested region; results of this program are pending.
Looking Ahead
The Company will continue the work program at Keats West in H2/25 to complete infill drilling targeting the remaining domains of lower grade material in addition to expansion drilling in new areas of mineralization within the open pit. Subject to obtaining positive results from the UG follow-up program, drilling at Keats West will work to expand the deeper portions of this zone. Infill drilling has also been completed at the Lotto and Lotto North zones, while step-out and infill drilling is ongoing at the Iceberg, K2, Dome-Lotto and Dropkick zones, as well as at AFZ Peripheral conceptual and early-stage exploration target areas.
The channel sampling at the Iceberg excavation that began in May 2025 is nearly complete. Results from ongoing work will be released as they become available.
Excavation of the Lotto Zone (' Lotto") is underway. The objective of this work is to expose a 210 m long segment of Lotto to add certainty to the geological model and assess grade continuity. Excavating will be followed by detailed mapping, channel sampling and additional definition drilling. Tightly spaced definition drilling targeting key segments of the Keats-Baseline Fault Zone that have been excavated will also commence in Q3/25 starting at Keats, followed by Iceberg.
On November 6, 2024, the Company announced it had engaged SLR Consulting (Canada) Ltd (" SLR") to deliver an initial MRE and preliminary economic assessment (" PEA"). The MRE was announced on March 24, 2025, and a PEA is ongoing with a revised target completion date of early Q3/25. This is an important milestone for the Project as it will provide preliminary project economics in addition to defining the work programs that will allow the Company to advance the Project. Mine design and planning, metallurgical processing and economic optimizations will be conducted by SLR to complete the PEA.
Table 1: Drill Result Highlights
Note that the host structures are interpreted to be moderately to steeply dipping. Infill veining in secondary structures with multiple orientations crosscutting the primary host structures are commonly observed in drill core which could result in additional uncertainty in true width. Composite intervals reported carry a minimum weighted average of 1 g/t Au diluted over a minimum core length of 2 m with a maximum of 4m consecutive dilution when above 200 m vertical depth and 2 m consecutive dilution when below 200 m vertical depth. Included high-grade intercepts are reported as any consecutive interval with grades greater than 10 g/t Au. Grades have not been capped in the averaging and intervals are reported as drill thickness. Details of all 22 drill holes are included in Table 2 and Table 3 below.
Table 2: Summary of composite results reported in this news release for Keats West.
Note that the host structures are interpreted to be moderately to steeply dipping. Infill veining in secondary structures with multiple orientations crosscutting the primary host structures are commonly observed in drill core which could result in additional uncertainty in true width. Composite intervals reported carry a minimum weighted average of 1 g/t Au diluted over a minimum core length of 2 m with a maximum of 4 m consecutive dilution when above 200 m vertical depth and 2 m consecutive dilution when below 200 m vertical depth. Included high-grade intercepts are reported as any consecutive interval with grades greater than 10 g/t Au. Grades have not been capped in the averaging and intervals are reported as drill thickness.
Table 3: Details of drill holes reported in this news release.
Sampling, Sub-sampling, and Laboratory
All drilling recovers HQ core. For deep holes, the core size may be reduced to NQ at depth. The drill core is split in half using a diamond saw or a hydraulic splitter for rare intersections with incompetent core.
A geologist examines the drill core and marks out the intervals to be sampled and the cutting line. Sample lengths are mostly 1.0 meter and adjusted to respect lithological and/or mineralogical contacts and isolate narrow (<1.0m) veins or other structures that may yield higher grades.
Technicians saw the core along the defined cutting line. One-half of the core is kept as a witness sample and the other half is submitted for analysis. Individual sample bags are sealed and placed into totes, which are then sealed and marked with the contents.
New Found Gold has submitted samples for gold determination by PhotonAssay™ to ALS Canada Ltd. ("ALS") since February 2024. ALS operates under a commercial contract with New Found Gold.
Drill core samples are shipped to ALS for sample preparation in Thunder Bay, Ontario. ALS does not currently have accreditation for the PhotonAssay™ method at their Thunder Bay, ON laboratory. They do however have ISO/IEC 17025 (2017) accreditation for gamma ray analysis of samples for gold at their Australian labs with this method, including the Canning Vale lab in Perth, WA.
Samples submitted to ALS beginning in February 2024, received gold analysis by photon assay whereby the entire sample is crushed to approximately 70% passing 2 mm mesh. The sample is then riffle split and transferred into jars. For "routine" samples that do not have VG identified and are not within a mineralized zone, one (300-500g) jar is analyzed by photon assay. If the jar assays greater than 0.8 g/t, the remaining crushed material is weighed into multiple jars and submitted for photon assay.
For samples that have VG identified, the entire crushed sample is riffle split and weighed into multiple jars that are submitted for photon assay. The assays from all jars are combined on a weight-averaged basis.
Select samples prepared at ALS are also analyzed for a multi-element ICP package (ALS method code ME-ICP61) at ALS Vancouver.
Drill program design, Quality Assurance/Quality Control, and interpretation of results are performed by qualified persons employing a rigorous Quality Assurance/Quality Control program consistent with industry best practices. Standards and blanks account for a minimum of 10% of the samples in addition to the laboratory's internal quality assurance programs.
Quality Control data are evaluated on receipt from the laboratories for failures. Appropriate action is taken if assay results for standards and blanks fall outside allowed tolerances. All results stated have passed New Found's quality control protocols.
New Found's quality control program also includes submission of the second half of the core for approximately 2% of the drilled intervals. In addition, approximately 1% of sample pulps for mineralized samples are submitted for re-analysis to a second ISO-accredited laboratory for check assays.
The Company does not recognize any factors of drilling, sampling, or recovery that could materially affect the accuracy or reliability of the assay data disclosed.
The assay data disclosed in this press release have been verified by the Company's Qualified Person against the original assay certificates.
The Company notes that it has not completed any economic evaluations of the Project and that the Project does not have any reserves.
Qualified Person
The scientific and technical information disclosed in this press release was reviewed and approved by Melissa Render, P. Geo., President, and a Qualified Person as defined under National Instrument 43-101. Ms. Render consents to the publication of this press release, by New Found Gold. Mrs. Render certifies that this press release fairly and accurately represents the scientific and technical information that forms the basis for this press release.
About New Found Gold Corp.
New Found Gold holds a 100% interest in Queensway, located in Newfoundland and Labrador, a Tier 1 jurisdiction with excellent infrastructure and a skilled local workforce.
The Company has completed an initial MRE at Queensway (see New Found Gold news release dated March 24, 2025). A preliminary economic assessment is underway, with completion scheduled for early Q3/25.
Recent drilling continues to yield new discoveries along strike and down dip of known gold zones, pointing to the district-scale potential of the 175,450 hectare project that covers a 110 km strike extent along two prospective fault zones.
New Found Gold has a new management team in place, a solid shareholder base, which includes a 19% holding by Eric Sprott, and is focused on growth and value creation at Queensway.
Please see the Company's website at www.newfoundgold.ca and the Company's SEDAR+ profile at www.sedarplus.ca.
Keith Boyle
Chief Executive Officer
New Found Gold Corp.
Follow us on social media at
https://www.linkedin.com/company/newfound-gold-corp
https://x.com/newfoundgold
Acknowledgements
New Found Gold acknowledges the financial support of the Junior Exploration Assistance Program, Department of Natural Resources, Government of Newfoundland and Labrador.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statement Cautions
This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, relating to exploration, drilling and mineralization on the Project; the interpretation of the results and benefits of drilling programs; future drilling and the timing and expected benefits thereof; excavation and channel sampling; the initial resource estimate; potential resource expansion; potential resource conversion; the preliminary economic assessment and the expected funding, timing and benefits thereof; assay results; the interpretation of drilling and assay results, the extent of mineralization and the discovery of zones of high-grade gold mineralization; future exploration and the focus and timing of same; the merits of the Project; future press releases by the Company; and funding of the drilling program. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "interpreted", "intends", "estimates", "projects", "aims", "suggests", "indicate", "often", "target", "future", "likely", "encouraging", "pending", "potential", "goal", "objective", "opportunity", "prospective", "possibly", "preliminary", and similar expressions, or that events or conditions "will", "would", "may", "can", "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made, and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include risks associated with the Company's ability to complete the preliminary economic assessment, the results and timing of the preliminary economic assessment, possible accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, risks associated with the interpretation of exploration, drilling and assay results, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company's exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company's business and prospects. The reader is urged to refer to the Company's Annual Information Form and Management's discussion and Analysis, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR+) at www.sedarplus.ca for a more complete discussion of such risk factors and their potential effects.
SOURCE New Found Gold Corp.
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Intellistake and PowerBank Announce Strategic Alliance to Pioneer Digital Currencies, including Bitcoin Treasury Integration and RWA Tokenization
Highlights of the Partnership: Digital Currency Treasury Program: PowerBank will accumulate Bitcoin and Intellistake will accumulate digital currencies that support decentralized AI. Bitcoin Treasury Management: Intellistake will help manage digital asset operations for PowerBank and serve as the Company's supporting partner for security, custody, and treasury management. Tokenized Energy Assets: Potential for First-of-their-kind tokens backed by RWA including solar and storage infrastructure. VANCOUVER, BC, July 31, 2025 /CNW/ - Intellistake Technologies Corp. (CSE: ISTK) (OTC: ISTKF) (FSE: E41) (" Intellistake" or the" Company") – announces a transaction with PowerBank Corporation (" PowerBank") that involves the intersection of digital assets, energy, and tokenized finance. Intellistake is a technology company bridging traditional capital markets with decentralized AI and blockchain infrastructure, and PowerBank (Nasdaq: SUUN) (formerly SolarBank), is a leader in clean energy infrastructure. Together, these two high-growth companies will pursue three seminal initiatives: A Digital Asset Treasury Program: Leveraging Bitcoin as a long-term treasury reserve asset, both PowerBank, with Intellistake's support, intends to accumulate and hold Bitcoin on its balance sheet and Intellistake intends to accumulate digital assets that support decentralized AI, such as FET Token — aligning with the global shift toward decentralized financial reserves. Bitcoin Treasury Management: Under the partnership framework, Intellistake will help manage digital asset operations for PowerBank and serve as PowerBank's supporting partner for security, custody, and treasury management of Bitcoin. The Tokenization of Real-World Assets (RWA): Intellistake and PowerBank are evaluating the potential tokenization of PowerBank's clean energy assets or shares — providing an investment and financing alternative. "Tokenization is no longer a concept—it's an inevitability," said Jason Dussault, CEO of Intellistake. "By combining our expertise in capital markets and digital asset custody with PowerBank's scalable, real-world energy platform, we're unlocking a new opportunity.." As institutions and sovereign funds increasingly embrace tokenized securities and decentralized asset strategies, the Intellistake–PowerBank partnership centres on transforming legacy energy systems into a tokenized product. According to a recent report by CryptoSlate, analysts forecast that the market cap for tokenized real-world assets (RWAs) could reach $30 trillion by 2034 (1) —driven by advances in blockchain, AI, and investor demand for transparent, real-time asset ownership and settlement. "This partnership is about more than collaboration—it's about setting the pace for a shift in how companies manage capital and assets," said Dr. Richard Lu, CEO of PowerBank."As the world accelerates toward AI, automation, and clean energy, Bitcoin and tokenization are presenting new opportunities. PowerBank and Intellistake are here to take part in that transformation, to bridge traditional energy infrastructure with the demand of the digital economy." Intellistake and PowerBank are presently evaluating the regulatory framework for tokenization. Any tokenization will be subject to it being completed in compliance with applicable law, regulatory requirements and terms of any underlying agreements associated with PowerBank assets. The actual structure of such tokenization, the assets that would be subject to tokenization, and the associated timeline, have not yet been determined. Intellistake and PowerBank will provide further updates as material developments related to this tokenization strategy occur. Intellistake has very recently completed the change of business transaction and is presently at an early stage of development. It has not yet acquired any digital assets, nor has it commenced validator and staking operations. It has also not yet developed any AI technology solutions. With the change of business completed it will now commence the execution of the business plan described in the Listing Statement dated June 30, 2025 and filed with the Canadian Securities Exchange and on SEDAR+ at It is important to note that as with any investment there are risks including that digital assets remain an emerging assets class with government regulation still under development, there has been significant volatility in digital assets and their value can decline rapidly, historical performance of digital assets in not indicative of their future performance and global digital asset demand may not continue to increase due to global financial conditions and other factors. Intellistake is a start-up that does not have the same access to capital as other larger more established companies. Please refer to "Cautionary Note Regarding Forward-Looking Information" and the Listing Statement for additional details on the risks associated with the Company's business. The actual timing and value of Bitcoin purchases, under the allocation strategy will be determined by management. Purchases will also depend on several factors, including, among others, general market and business conditions, the trading price of Bitcoin and the anticipated cash needs of Intellistake or PowerBank. The allocation strategy may be suspended, discontinued or modified at any time for any reason. As of the date of this press release, no Bitcoin purchases have been made. (1) For additional information on the business of Intellistake please refer to About PowerBank For additional information on the business of Intellistake please refer to Company Contact Cautionary Note Regarding Forward-Looking Information This news release contains "forward-looking information" concerning anticipated developments and events related to the Company that may occur in the future. Forward looking information contained in this news release includes, but is not limited to, all statements in respect of the Company's growth and development, the operations and business segments of the Company; details of planned validator operations, details of the partnership between the Company and PowerBank including the Bitcoin treasury program, Bitcoin treasury management and tokenized energy assets, and expectations regarding the market for digital currencies, tokenization and decentralized AI. In certain cases, forward-looking information can be identified by the use of words such as "expects", "intends", "anticipates" or variations of such words and phrases or state that certain actions, events or results "may", "would", or "might" suggesting future outcomes, or other expectations, assumptions, intentions or statements about future events or performance. Forward-looking information contained in this news release is based on certain assumptions regarding, among other things, the Company will continue to have access to financing until it achieves profitability; the technology and blockchain industries in which the Company intends to focus its business in will grow at the rate and in the manner expected; the ability to attract qualified personnel; the success of market initiatives and the ability to grow brand awareness; the ability to distribute Company's services; the Company creates strategies to mitigate risks associated with cryptocurrency price fluctuations; the Company remains compliant with all applicable laws and securities regulations; the Company engages and collaborates with local experts, as necessary, to address jurisdiction-specific matters and ensures compliance with foreign regulations to avoid penalties; the Company addresses any potential cybersecurity threats promptly and effectively; and the ability to successfully deploy the new business strategy as a result of the change of business. While the Company considers these assumptions to be reasonable, they may be incorrect. Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results to be materially different from any future results expressed by the forward-looking information. Such factors include risks related to general business, economic and social uncertainties; failure to raise the capital necessary to fund its operations; inability to create strategies to mitigate the risks associated with cryptocurrency price fluctuations; the costs of regulation in the digital asset industries increase to the extent that the Company is no longer generating sufficient returns for shareholders; failure to promptly and effectively address cybersecurity threats; insufficient resources to maintain its operations on a competitive basis; and the actual costs, timing and future plans differs expectations; legislative, environmental and other judicial, regulatory, political and competitive developments; the inherent risks involved in the cryptocurrency and general securities markets; the Company may not be able to profitably liquidate its current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on the Company's operations; the volatility of digital currency prices; the inherent uncertainty of cost estimates and the potential for unexpected costs and expenses, currency fluctuations; regulatory restrictions, liability, competition, loss of key employees and other related risks and uncertainties; delay or failure to receive regulatory approvals; failure to attract qualified personnel, labour disputes; and the additional risks identified in the "Risk Factors" section of the Company's filings with applicable Canadian securities regulators. Although the Company has attempted to identify factors that could cause actual results to differ materially from those described in forward-looking information, there may be other factors that cause results not to be as anticipated. Readers should not place undue reliance on forward-looking information. The forward-looking information is made as of the date of this news release. Except as required by applicable securities laws, the Company does not undertake any obligation to publicly update forward-looking information.
