New Found Gold Corp. (NFGC) Completes Key Milestone at Queensway Gold Project by Entering into Phase 1 EPCM Contract

New Found Gold Corp. (NYSE:NFGC) is among the 11 Best Gold Stocks to Buy for 2026.

On January 26, 2026, New Found Gold Corp. (NYSE:NFGC) entered into a Phase 1 EPCM contract with WSP Canada Inc. for site planning and detailed engineering of an offsite milling plant, advancing its 100%-owned Queensway Gold Project in Newfoundland and Labrador. The corporation intends to grow and modernize its fully authorized Pine Cove Mill to handle Phase 1 feed from Queensway and Hammerdown. An Environmental Registration submission is anticipated in late Q1/26 to start the environmental review process, and environmental baseline work is nearly finished. Cutfield Freeman & Co. Ltd. serves as a project finance consultant to maximize Phase 1 funding. A revised mineral resource estimate and an updated Technical Report are scheduled for mid-2026. The first gold pour is scheduled for H2/27, subject to permissions.

On January 21, 2026, the 2026 drill program began with four rigs focused on infill and research. The K2 zone infill results, which show prospective resource expansion inside AFZ Core and support resource conversion, include 5.22 g/t Au over 14.90 m and 8.51 g/t Au over 6.65 m. Bullseye is now undergoing step-out drilling.

The stock was up by 10.56% YTD as of January 27, 2026.

New Found Gold Corp. (NYSE:NFGC) is a mineral exploration company that acquires, explores, and evaluates resource prospects.

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Disclosure: None. This article is originally published at Insider Monkey.