Keith Boyle named CEO at New Found Gold
New Found Gold Corp. [NFG-TSXV] has announced the appointment of Keith Boyle as CEO. His appointment follows the resignation of company founder Colin Kettell.
“With his extensive experience and proven leadership in developing successful mining operations around the globe, Keith is ideally positioned to guide the Queensway Project [in Gander, Newfoundland] to its next phase of growth and value creation,’’ the company said in a press release.
With 40 years in the mining industry under his belt, working for companies such as Placer Dome Inc., Aur Resource and Inc., he last worked at Reunion Gold Corp., where he fast tracked the development of the Oko West Project in Guyana, until its acquisition in July, 2024 for $870 million. During his career, he has demonstrated expertise in several key areas, including project development, technical studies, stakeholder relations, operating efficiencies and optimizing operations, cost control and managing budges for improved financial performance.
“As CEO, my leadership goals will be to focus on realizing the untapped potential at Queensway, while ensuring the company remains well positioned and ready for the possibility of future development, delivering value to all stakeholders,” he said.
New Found shares eased 2.00% or $0.05 to $2.44 on Monday. The shares trade in a 52-week range of $5.71 and $2.11.
New Found holds a 100% interest in the Queensway Project, located 15 kilometres west of Gander and just 18 kilometres from Gander International Airport. The company is currently undertaking a 650,000 metres drill program at Queensway and is well funded for this program with cash and marketable securities of approximately $23 million as of January, 2025.
The Queensway project covers approximately 1,500 square kilometres with the initial exploration focused on areas that can be accessed by the Trans-Canada Highway. It is divided by Gander Lake into Queensway North and Queensway South.
Previous drilling at the project focused on a 9.5-kilometre corridor along the Appleton fault, and a 12.4-kilometre corridor along the JBP fault.
So far, New Found has discovered three robust structurally controlled high-grade deposits: Keats, Lotto, Golden Joint. These occur along an approximately 2.0-kilometre corridor of the Appleton Fault Zone on Queensway North.
On April 13, 2022, the company reported a new high-grade gold discovery between the Keats and Golden Joint zones, located approximately 440 metres north of the Keats zone.
New Found’s key shareholders include Palisades Goldcorp., a resource-focused merchant bank founded by Kettell.
Two years ago, Novo Resources Corp. [NVO-TSX, NVO.WT, WT.A, NSRPF-OTCQX] previously agreed to sell its 15 million New Found Gold shares to a corporation controlled by Bay Street financier Eric Sprott for $125.9 million.
The sale was expected to increase Sprott’s stake in New Found to 31%.