New Found Reports Positive Phase 1 Metallurgical Test Result

Mr. Simmons commented, "The Phase I geo-metallurgical characterization and test work program results confirm the high-grade nature of the project and our high gold extraction expectations for Keats Main, Lotto and Golden Joint vein systems. The program further demonstrates that conventional gravity separation and CIL are well-suited recovery methods for gold mineralization at Queensway. Additional flowsheet development work is ongoing to determine if marginal improvements in gold extraction can be achieved."

Ron Hampton, Chief Development Officer of New Found, stated: "These initial results of the metallurgical testing indicate excellent gold extraction from the mineralization observed at the Keats, Lotto, and Golden Joint. In addition, this test work indicates the suitability of processing utilizing conventional gravity separation and carbon-in-leach (CIL) technology.


ABSOLUtely no surprise here and do expect an even higher recovery ....it confirms nuggety gold