New Found Gold Corp. is advancing the Hammerdown Gold Project in Newfoundland and Labrador, Canada, alongside work on its Queensway asset. The company says operational, technical and organizational changes are intended to support near-term production growth and longer-term resource expansion across both projects. It also holds associated milling and tailings infrastructure at Pine Cove.
Leadership appointment at Hammerdown mine
The company has appointed Mark Ross, P.Geo., as General Manager, Mines. Ross is based in Springdale, Newfoundland and Labrador, and has more than two decades of experience across gold, copper and diamond mining operations. His background includes grade control, mine planning, resource modelling and integrated technical services.
Ross previously worked within New Found Gold’s operations, including as Hammerdown Mine Manager. In that role, he led team development, established operational systems and supported the ramp-up of mining activities. He also served as Queensway Site Manager, overseeing on-site exploration programs.
Workforce growth and local hiring
New Found Gold says it has expanded its operational workforce following the Hammerdown acquisition. The company added approximately 50 new personnel, with an additional 14 employees scheduled to join in June. It reports that the expansion generated around 40 new jobs.
The company states that more than 90% of full-time and student hires are sourced locally from Newfoundland and Labrador. At present, 76 employees and 188 contractors are working at the Hammerdown site. New roles filled include General Manager, Chief Mine Geologist, Safety and Environment Coordinator, Metallurgist, Processing Projects Manager and Exploration Manager.
Mill commissioning progress and recovery targets
On the processing side, New Found Gold reports improving gold production reconciliation between the Hammerdown block model and the processing mill. The company links the improvement to refined grade control drilling practices. It says the mill initially processed low-grade stockpiles through Q3 2025.
The company states that key handling infrastructure was commissioned in Q1 2026. Engineering work is now underway to install new regrind mills to replace existing equipment, with completion expected in Q4 2026. Processing performance is reported as improving, with gold recovery averaging approximately 87%.
New Found Gold expects recovery to rise to around 92% after the mill is fully converted from a flotation–Merrill-Crowe system to a gravity–carbon-in-leach (CIL) circuit. The conversion timing is tied to the ongoing regrind mill installation work described for Q4 2026.
Grade control drilling and resource conversion plans
The Hammerdown deposit is described as a high-grade narrow-vein gold system previously mined using underground selective methods. The project is now being developed through open-pit mining operations. New Found Gold says a major 20,000-metre grade control drilling program began in Q2 2026 on a 5 x 5 metre grid spacing.
The company reports that approximately 7,000 metres of drilling has been completed to date under the grade control program. It says the work is intended to optimize short-term mine scheduling and improve mill feed quality. Early results are reported to indicate stronger grade consistency and improved delivery to the processing plant.
In addition to grade control drilling, New Found Gold plans a 10,000-metre resource conversion and condemnation drilling program for 2026. The initiative aims to upgrade inferred resources within the Phase II Hammerdown pit area scheduled for mining in 2028. The company says it will support a future updated mineral resource estimate in 2027.
Project framework and reporting basis
The company notes that its preliminary economic assessment (PEA) includes inferred mineral resources that remain geologically uncertain. It says these inferred resources are not classified as mineral reserves. As a result, New Found Gold states that economic viability is not yet fully established and there is no certainty that PEA outcomes will be realized.
Qualified person review under NI 43-101
New Found Gold says all scientific and technical disclosures in the update were reviewed and approved by Keith Boyle, P.Eng., CEO of New Found Gold. The company states he qualifies as a Qualified Person under National Instrument 43-101.
Queensway land position and near-term production objective
The company describes itself as a Canadian gold exploration and development business focused on advancing its Queensway and Hammerdown projects in Newfoundland and Labrador. It holds a 100% interest in both assets, including milling and tailings infrastructure at Pine Cove. Its near-term objective is to bring Hammerdown into commercial production in H2 2026.
For Queensway, New Found Gold says its broader land package spans more than 110 kilometres of strike length across two major fault zones. It characterizes this as a district-scale exploration opportunity supported by a shareholder base that includes mining investor Eric Sprott.
