07:25 AM EDT, 11/01/2024 (MT Newswires) -- New Found Gold ( NFGC ) is up near 5% in U.S. premarket trade after it reported results from the Phase II metallurgical testing program conducted on drill core samples from the Queensway Project in Gander, Newfoundland. The samples were collected from the Iceberg and Iceberg East zones.

The average gold weighted extraction percentage for Iceberg and Iceberg East was 96.9% and compare well with the previously-announced average gold weighted extraction percentage for adjacent tested mineralized zones, Keats Main, Lotto and Golden Joint, which ranged from 90.1% to 96.9%.

New Found Gold ( NFGC ) is undertaking additional metallurgical testing focused on Keats West. Results are expected in the second quarter of next year.

New Found Gold ( NFGC ) was last seen up US$0.11, to US$2.36, in New York trade.