Past year: ▼ 27%(1.36 – 2.97 USD)
Each one in plain English, with the numbers worked through for a shareholder.
25 Sept 2025drilling result▲ GoodMajor
Channel sampling across 185 metres of continuously exposed rock in the Iceberg excavation returned 64.8 g/t gold over 6.71m, 23.9 g/t over 15.12m, 113 g/t over 2.99m and 47.4 g/t over 7.36m. Iceberg is one of the zones earmarked for the first phase of custom milling in the economic assessment.
3 Sept 2025resource reserve update● Neutral
The SLR and Stantec NI 43-101 technical report supporting the July preliminary economic assessment, effective 30 June 2025 and signed 2 September 2025.
2 Sept 2025resource reserve update▲ Good
Third round of metallurgical testing returned 89.2% average gold recovery on Keats West sulphide composites, confirming the recovery assumed in July's economic assessment, and 87% from rougher flotation on low-grade samples from Keats, Golden Joint, Lotto and Iceberg. The PEA technical report was filed the same day.
13 Aug 2025drilling progress report▼ Bad
Suspended all drilling, mulching and excavating in or near forests at Queensway because of extreme fire-weather conditions and major fires burning across Newfoundland. No restart date was given.
21 July 2025resource reserve update▲ GoodMajor
The preliminary economic assessment put a two-phase mine behind the resource: C$155 million to build Phase 1 producing about 69,300 ounces a year at US$1,282/oz all-in sustaining cost, funding a C$442 million Phase 2 at about 172,200 ounces a year and US$1,090/oz, for 1.5 million ounces over a 15-year life. After-tax net present value at a 5% discount is C$743 million with a 56.3% return at US$2,500 gold, rising to C$1.45 billion and 197% at US$3,300. First gold is targeted for 2027 subject to permitting.
10 July 2025drilling result▲ GoodMajor
First 2025 results, from infill drilling inside the proposed Keats West open pit: 55.0 g/t gold over 35.05m in NFGC-24-2254, 20.7 g/t over 18.05m and 15.4 g/t over 16.70m. The company says these define gold that is currently outside the resource block model, which is what infill drilling is meant to test.
17 June 2025drilling progress report▲ Good
With the bought deal closed, the 2025 program was expanded to 70,000 metres with five rigs, 80% of it aimed at resource definition and pre-development rather than exploration. Channel sampling of the Iceberg excavation was about 80% complete and the PEA was still expected in late Q2 2025.
22 May 2025drilling result▲ GoodMajor
Final 2024 results from Dropkick: 42.8 g/t gold over 14.95m (NFGC-24-2225), 47.6 g/t over 3.95m and 22.9 g/t over 2.40m, now traced over 580 metres of strike and open in all directions, plus a newly identified domain east of the Appleton Fault at 5.30 g/t over 15.20m. Pistachio gave 5.34 g/t over 7.30m over a 240m strike.
7 May 2025drilling progress report● Neutral
Started the 2025 program with four rigs infilling Keats West and Lotto - drilling to firm up the resource rather than find more of it - with two more rigs due in June for exploration at Dome and Dropkick. The company describes the focus as having shifted from discovery towards development.
30 Apr 2025drilling result▲ Good
Last of the 2024 drilling: 38.7 g/t gold over 6.55m at Dome (NFGC-24-2238), 10.3 g/t over 8.20m at Keats South Deep and 6.16 g/t over 3.10m at Keats-AFZ Deep. All three sit outside the initial resource, and Dome is within 250 metres of surface.
24 Apr 2025resource reserve update● Neutral
The SLR Consulting and Stantec NI 43-101 technical report supporting the initial mineral resource estimate, effective 18 March 2025 and signed 15 April 2025. This is the document the March resource announcement was drawn from.
16 Apr 2025resource reserve update▲ GoodMajor
Filed the technical report behind the initial resource and set out the development path: high-grade starter pits under study in the PEA due late Q2 2025, bulk sampling planned for the first half of 2026. Seventy percent of the 2.0 million resource ounces are in the indicated category.
25 Mar 2025resource reserve update● NeutralMajor
Queensway's first mineral resource estimate, five years after drilling began there in 2020: 18.0 million tonnes at 2.40 g/t gold for 1.39 million ounces indicated, plus 10.7 million tonnes at 1.77 g/t for 0.61 million ounces inferred. The grade is a fraction of the headline drill intercepts because the high grade sits in narrow veins inside much larger volumes of low-grade rock - 73% of the indicated ounces are in 24% of the tonnage. The estimate covers less than 5% of the 110km strike of the controlling structures.
24 Feb 2025drilling result▲ GoodMajor
Follow-up holes expanded Golden Dome 18m and 92m along strike from the October discovery hole, returning 148 g/t gold over 4.10m and 41.3 g/t over 2.40m in NFGC-24-2188. Step-outs 50m below past drilling at the nearby Dome zone gave 51.2 g/t over 13.30m in NFGC-24-2227.
11 Feb 2025drilling result▲ GoodMajor
Five step-out holes at the Dropkick zone on the Kingsway ground bought from Labrador Gold returned 89.48 g/t gold over 5.85m in NFGC-24-2197 and 26.15 g/t over 16.15m in NFGC-24-2193, with a 0.35m sample at 1,128 g/t. True widths are not yet known.
2 Dec 2024drilling result▲ GoodMajor
Second phase of Keats trench channel sampling returned 455 g/t gold over 4.1m, 148 g/t over 7.0m and 58.6 g/t over 11.6m per the company's headline, with KM-24-01-45 giving 73.63 g/t over 4.95m from surface. Grades at surface remain as high as anything the drill has returned.
19 Nov 2024drilling progress report● Neutral
The NI 43-101 technical report itself, prepared by APEX Geoscience with metallurgy sections by Jorgensen and GL Simmons, effective 1 November 2024, filed alongside the news release announcing it.
18 Nov 2024resource reserve update● Neutral
Filed an updated NI 43-101 technical report effective 1 November 2024 covering the enlarged Queensway land package, including the Kingsway ground bought from Labrador Gold in July. Still an exploration update, not a resource estimate.
7 Nov 2024resource reserve update▲ GoodMajor
Hired SLR Consulting to produce Queensway's first mineral resource estimate and a preliminary economic assessment, targeted for Q2 2025. After four years and hundreds of thousands of metres of drilling this is the company's first attempt to put an ounce count and a set of project economics behind the intercepts.
31 Oct 2024drilling result▲ GoodMajor
Deep drilling found a new zone about 490 metres downhole, Golden Dome: 343 g/t gold over 2.15m, 40.6 g/t over 2.20m and 9.51 g/t over 7.45m in NFGC-24-2158. Wedge holes also carried Keats South mineralisation to 850 and 990 metres downhole, at 23.31 g/t over 2.20m and 1.97 g/t over 7.20m.
24 Oct 2024drilling result▲ GoodMajor
First six holes into the newly bought Kingsway ground hit a zone the company named Pistachio: 104.62 g/t gold over 2.10m and 10.36 g/t over 4.45m in NFGC-24-2153. Twenty-nine further holes at Honeypot, Jackpot and Everest returned 36.7 g/t over 2m at Jackpot and 5.20 g/t over 6.15m at Honeypot.
23 Sept 2024drilling result▲ GoodMajor
First channel samples from the Keats trench confirmed the high grade continues right at surface: 300 g/t gold over 5.1 metres and 215 g/t over 5.2 metres per the company's headline, with KM-24-01-12 returning 214.97 g/t over 5.21m and KM-24-01-16 10.38 g/t over 13.70m. This is the same rock the drill had been intersecting, now exposed and sampled directly.
11 July 2024drilling result▲ GoodMajor
The first eleven deep holes confirmed high-grade gold at 820 metres depth, doubling the known vertical extent of the Queensway system, and cut nine new zones spread over 3km of strike on both sides of the Appleton Fault, with single assays to 42.0 and 57.1 g/t gold.
3 July 2024drilling progress report● Neutral
Started stripping 1 to 12 metres of overburden off the Iceberg zone to expose 220 metres of strike over a 105-metre width, giving 8 to 10 weeks of excavation and then mapping. The point is to check the geological model built from drilling against the rock itself.
11 June 2024drilling progress report● Neutral
The deep drilling program launched off the seismic survey had reached 10,345 metres in 12 holes of 550 to 1,230 metres, testing depth extensions at Jackpot, Lotto, K2 and Iceberg; all results were still pending. Devico was hired to provide directional drilling so existing holes could be wedged rather than re-collared.
7 June 2024drilling progress report● Neutral
Filed an updated NI 43-101 technical report on Queensway by APEX Geoscience, effective 18 April 2024, covering exploration and metallurgy. It contains no mineral resource estimate - the company only commissioned its first one in November 2024.
17 Apr 2024drilling result▲ Good
Eighty-five holes across a 3km corridor from Golden Joint to Everest on the east side of the Appleton Fault returned 43.11 g/t gold over 2.00m at Jackpot (NFGC-23-1418) and, per the company's headline, 14.8 g/t over 5m at Honeypot; Everest gave a weaker 1.24 g/t over 13.75m.
10 Apr 2024drilling result▲ Good
Fifty-one holes at the K2 zone, 2.2km north of Keats West, returned 17.8 g/t gold over 13.5m, 27.68 g/t over 2.70m in NFGC-23-1647 and a broad 1.23 g/t over 47.2m, with several stacked intervals in single holes.
26 Mar 2024drilling result▲ GoodMajor
Thirty-eight holes expanded Iceberg Alley, a zone 1 km along strike from Iceberg, with 187 g/t gold over 2.55 metres in NFGC-23-1941 (including 632 g/t over 0.75m) and 28.95 g/t over 2.50m; a further 114 holes traced the Keats-Baseline Fault where it runs under South Hermans Pond.
13 Mar 2024drilling result▲ GoodMajor
Sixty-one holes at Iceberg and Iceberg East, 300m northeast of Keats, returned 36 g/t gold over 16.7m, 34 g/t over 14.7m, 43 g/t over 7.35m and 41 g/t over 5.85m, with individual samples to 172 g/t. The program was aimed at infilling gaps and carrying the high grade up to surface.
