EX-99.36 37 tm2127221d1_ex99-36.htm EXHIBIT 99.36

 

Exhibit 99.36

 

FORM 51-102F3

MATERIAL CHANGE REPORT

 

Item 1:Name and Address of Company

 

New Found Gold Corp. (“Company”)

Suite 1430, 800 West Pender Street

Vancouver, British Columbia

Canada V6C 2V6

 

Item 2:Date of Material Change

 

February 23, 2021

 

Item 3:News Release

 

The news release was disseminated on February 23, 2021, through the news dissemination services of Canada Newswire and a copy was subsequently filed on SEDAR.

 

Item 4:Summary of Material Change

 

The Company announced recently received drill results from the Lotto Zone, drilled as part of the Company’s ongoing 200,000 m diamond drill program at its 100% owned Queensway Project, located on the Trans-Canada Highway 15 km west of Gander, Newfoundland..

 

Item 5:Full Description of Material Change

 

Please see the news release attached hereto as Schedule “A” for a full description of the material change.

 

Item 6:Reliance on subsection 7.1(2) of National Instrument 51-102

 

Not applicable.

 

Item 7:Omitted Information

 

Not applicable.

 

Item 8:Executive Officer

 

For further information, please contact Craig Roberts, Chief Executive Officer and Director of the Company, at 604-562-9664 or croberts@newfoundgold.ca

 

Item 9:Date of Report

 

February 23, 2021

 

 

 

 

Schedule “A”

 

New Found Intercepts 224.7 g/t Au over 2.45m at Lotto

 

Vancouver, BC, February 23, 2021: New Found Gold Corp. (“New Found” or the “Company”) (TSXV: NFG, OTC: NFGFF) is pleased to announce recently received drill results from the Lotto Zone (“Lotto”), drilled as part of the Company’s ongoing 200,000 m diamond drill program at its 100% owned Queensway Project (“Queensway”), located on the Trans-Canada Highway 15 km west of Gander, Newfoundland (Figure 1).

 

Highlights

 

·Highlights from these drill intercepts are summarized below.

 

Table 1: Lotto summary results

 

Hole No.  From (m)   To (m)   Interval (m)*   Au (g/t) 
NFGC-20-20   100.3    103.3    3.00    5.31 
NFGC-20-27   222.9    224.9    2.00    31.3 
NFGC-20-50   43.7    45.8    2.10    65.3 
NFGC-21-100   118.0    120.5    2.45    224.7 
Previously Reported                    
NFGC-20-17   35.3    40.0    4.75    41.2 
And   57.0    62.1    5.15    25.4 

 

* Note that the true width of the mineralization is uncertain, but host structures are interpreted to be steeply dipping implying true widths in the range of 70% of reported intercepts. Intervals are calculated at a 1 g/t Au cut-off grade and minimum width of 2m, grades have not been capped in the averaging, maximum dilution allowed is 2m.

 

·The intercept in NFGC-21-100 included over 250 disseminated flakes of visible gold and fine fracture coatings, with similar mineralogy to other high-grade drill intervals along the Appleton Fault.

 

·High-grade intercepts to date at Lotto are interpreted to primarily occur in a network of secondary, generally north-south striking, structures. Veining on some of these structures is interpreted as continuous over up to at least 300m of strike and open (Figure 2).

 

·Thickening and higher grades appear to correlate to fault splays and the intersection of subvertical structures. The high-grade intervals in Holes 17, 50, and 100 are interpreted to occur over such a vertically oriented zone. Drilling at Lotto will continue to step-out to depth on identified zones, and will also test for additional high-grade zones focused on projected structural intersections and fault splays.

 

·Drilling is also targeting the Lotto Baseline Fault for gold mineralization similar to that being drilled in the Keats Baseline Fault. Keats also exhibits a series of mineralized secondary structures surrounding the broader Keats Baseline Zone mineralization. Drill definition of high grade gold in secondary structures at Lotto will be utilized to vector to targets in the Lotto Baseline Fault itself.

 

NEWFOUND GOLD CORP.

 

Suite 1430, 800 West Pender Street, Vancouver, BC, V6C 2V6PAGE 1

 

 

 

Greg Matheson, Chief Operating Officer of New Found, stated: “Hole NFGC-21-100 returned some of the highest grades found to date at Queensway and as such is an outstanding result. Multiple high grade drill intervals have now been encountered in a network of secondary structures, with high grade interpreted to be focused on fault splays and structural intersections. This interpretation is guiding the step out drilling on high grade intervals at Lotto as well as helping to identify additional targets of this type. This network of secondary faults has been projected over an approximately 300m x 200m area at Lotto and remains open in all directions.

 

The Lotto Baseline Fault appears analogous to the Keats Baseline Fault and we continue to pursue possible high grade mineralization in this broader, more primary structure. Drilling at Queensway will continue to test a corridor up to 500 m wide encompassing +12 high-grade targets identified along the east side of the Appleton Fault Zone from Lotto to the Keats discovery 2 km to the south, and then another 2km south to the area of Knob (see Figure 1). The understanding of controls on high-grade mineralization being advanced at Lotto and Keats will help guide us as we explore this 4km corridor.”

 

NEWFOUND GOLD CORP.

 

Suite 1430, 800 West Pender Street, Vancouver, BC, V6C 2V6PAGE 2

 

 

 

 

 

 

Figure 1: Lotto Zone location and other target areas along the Appleton Fault Zone

 

NEWFOUND GOLD CORP.

 

Suite 1430, 800 West Pender Street, Vancouver, BC, V6C 2V6PAGE 3

 

 

 

 

Figure 2: Interpreted faults, veining and assay results at Lotto

 

NEWFOUND GOLD CORP.

 

Suite 1430, 800 West Pender Street, Vancouver, BC, V6C 2V6PAGE 4

 

 

 

Drill-hole Details

 

Table 2: Summary of results reported in this release

 

Hole No.  From (m)   To (m)   Interval (m)*   Au (g/t)   Zone
NFGC-20-20   100.25    103.25    3.00    5.3   Lotto
Including   100.60    101.30    0.70    15.6   Lotto
NFGC-20-22   91.50    99.90    8.40    1.3   Lotto
NFGC-20-24   35.00    37.00    2.00    2.0   Lotto
    42.30    45.40    3.10    1.3   Lotto
    138.10    140.30    2.20    1.2   Lotto
NFGC-20-27   156.00    158.10    2.10    1.7   Lotto
    222.90    224.90    2.00    31.3   Lotto
NFGC-20-31   45.70    52.00    6.30    1.0   Lotto
NFGC-20-35                  NSV   Lotto
NFGC-20-39                  NSV   Lotto
NFGC-20-42   40.50    42.80    2.30    1.2   Lotto
    108.00    112.55    4.55    1.4   Lotto
NFGC-20-44   70.15    72.15    2.00    2.1   Lotto
    **238.55   245.05    6.50    18.1   Lotto
NFGC-20-47   15.25    18.00    2.75    1.4   Lotto
    29.35    31.35    2.00    1.1   Lotto
    34.45    37.60    3.15    2.5   Lotto
    42.00    45.10    3.10    1.1   Lotto
NFGC-20-50   43.65    45.75    2.10    65.3   Lotto
NFGC-20-100   118.00    120.45    2.45    224.7   Lotto

 

* Note that the true width of the mineralization is uncertain, but host structures are interpreted to be steeply dipping implying true widths in the range of 70% of reported intercepts. Intervals are calculated at a 1 g/t Au cut-off grade and minimum width of 2m, grades have not been capped in the averaging, maximum dilution allowed is 2m.

** Interval previously released on January 14, 2021.

 

Table 3: Details of drill holes reported in this release

 

Hole No.  Azimuth (°)   Dip (°)   Length (m)   UTM E   UTM N 
NFGC-20-17   302    -46    354    658 931    5 428 990 
NFGC-20-20   300    -45    190    658 973    5 428 962 
NFGC-20-22   300    -45    214    658 963    5 428 996 
NFGC-20-24   300    -45    258    658 936    5 428 954 
NFGC-20-27   300    -45    465    658 946    5 428 920 
NFGC-20-31   300    -45    258    658 878    5 428 902 
NFGC-20-35   300    -45    240    658 921    5 428 876 
NFGC-20-39   300    -45    164    658 885    5 429 156 
NFGC-20-42   300    -45    177    658 933    5 429 100 
NFGC-20-44   300    -45    294    658 956    5 429 030 
NFGC-20-47   300    -45    98    658 922    5 428 995 
NFGC-20-50   300    -45    92    658 927    5 428 981 
NFGC-21-100   300    -45    258    658 979    5 428 930 

 

NEWFOUND GOLD CORP.

 

Suite 1430, 800 West Pender Street, Vancouver, BC, V6C 2V6PAGE 5

 

 

 

Expansion of Queensway Drill Program

 

New Found also announces that a fifth drill is now operating on the Queensway Project, with three additional drills expected to arrive over the next several weeks.

 

Sampling, Sub-sampling and Laboratory

 

True width of the mineralization is uncertain, but host structures are interpreted to be steeply dipping implying true widths in the range of 70% of reported intercepts. Selected intervals were submitted on a rush basis including the reported interval for NFGC-21-100. Additional assays for these holes will be reported once received. Assays are uncut, and calculated intervals are reported over a minimum length of 2 meters using a lower cutoff of 1.0 g/t Au. All HQ split core assays reported were obtained by either complete sample metallic screen/fire assay or standard 30-gram fire-assaying with ICP finish at ALS Minerals in Vancouver, British Columbia or by entire sample screened metallic screen fire assay at Eastern Analytical in Springdale, Newfoundland. The complete sample metallic screen assay method is selected by the geologist when samples contain coarse gold or any samples displaying gold initial fire assay values greater than 1.0 g/t Au. Drill program design, Quality Assurance/Quality Control and interpretation of results is performed by qualified persons employing a Quality Assurance/Quality Control program consistent with National Instrument 43-101 and industry best practices. Standards and blanks are included with every 20 samples for Quality Assurance/Quality Control purposes by the Company as well as the lab. Approximately 5% of sample pulps are sent to secondary laboratories for check assays.

 

Qualified Person

 

The technical content disclosed in this press release was reviewed and approved by Greg Matheson, P. Geo., Chief Operating Officer and a Qualified Person as defined under National Instrument 43-101. Mr Matheson consents to the publication of this announcement dated 23 February by New Found Gold. Mr Matheson certifies that this announcement fairly and accurately represents the information for which he is responsible.

 

About New Found Gold Corp.

 

New Found holds a 100% interest in the Queensway Project, located 15 km west of Gander, Newfoundland, and just 18 km from Gander International Airport. The project is intersected by the Trans-Canada Highway and has logging roads crosscutting the project, high voltage electric power lines running through the project area, and easy access to a highly skilled workforce. With working capital of approximately C$72M the Company is well financed to continue its current 200,000-m drill program, with a planned increase from the current four drill rigs to eight drill rigs in Q1, 2021. New Found has a proven capital markets and mining team with major shareholders including Palisades Goldcorp (33%), Eric Sprott (18%), Novo Resources (11%), Rob McEwen (7%), other institutional ownership (8%), and management, directors, and insiders (4%).

 

Please see the Company’s website at www.newfoundgold.ca and the Company’s SEDAR profile at www.sedar.com.

 

NEWFOUND GOLD CORP.

 

Suite 1430, 800 West Pender Street, Vancouver, BC, V6C 2V6PAGE 6

 

 

 

Acknowledgements

 

New Found acknowledges the financial support of the Junior Exploration Assistance Program, Department of Natural Resources, Government of Newfoundland and Labrador.

 

Contact

 

To contact the Company, please visit the Company’s website, www.newfoundgold.ca and make your request through our investor inquiry form. Our management has a pledge to be in touch with any investor inquiries within 24 hours.

 

New Found Gold Corp.

 

Per: “Craig Roberts”

Craig Roberts, P.Eng., Chief Executive Officer

Email: croberts@newfoundgold.ca

Phone: (604) 562 9664

 

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 further the exploration and drilling on the Company’s Queensway gold project in Newfoundland. 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,” “intends,” “estimates,” “projects,” “aims,” “potential,” “goal,” “objective,” “prospective,” 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 possible accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, 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 reports, publicly available through the Canadian Securities Administrators’ System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects.

 

NEWFOUND GOLD CORP.

 

Suite 1430, 800 West Pender Street, Vancouver, BC, V6C 2V6PAGE 7