For 2023, New Found Gold intends to use an average of 12 drill rigs, including a maximum ramp-up to 14 drill rigs, as it continues its aggressive exploration program. As a result, New Found is now planning to drill a total of 500,000m as part of its ongoing drilling program at the Queensway Project by the end of 2023.

New Found Gold is advancing its 100% owned 1,650km2 Queensway gold project, located on the Trans-Canada highway 15km west of Gander, Newfoundland. A 500,000m drill campaign is underway. Drilling is focused on a 9.5km corridor along the Appleton fault and a 12.4km corridor along the JBP fault.

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