NGG Announces High Grade Gold & Copper Drill Results at Sinivit Mine Below Southern Oxide Pit - 6m at 65.03g/t Au and 3.93% Cu within 14m at 33g/t Au and 3.2% Cu
- 6m at 65.03g/t Au and 3.93% Cu within 14m at 33g/t Au and 3.2% Cu
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 08/17/10 -- New Guinea Gold Corporation ('NGG' or the 'Company') (TSX VENTURE: NGG)(FRANKFURT: NG8) is pleased to announce that seven Reverse Circulation (RC) holes intersected high to very high grade gold below the base of the Southern Oxide Pit at the Sinivit Mine in Papua New Guinea. The best drill holes are summarised below and all drill hole results since the last press release regarding Sinivit drill results, dated May 31, 2010, are shown, (together with drill hole location data) on the accompanying tables. The NEGC designated holes indicate a northern extension to the Northern Oxide Pit and the SGC designated holes are in the base of the Southern Oxide Pit.
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Hole From To Length Gold Copper
No (m) (m) (m) (g/t) (g/t)
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SGC 217 10 22 12 10.28 1.85
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SCG 218 16 24 8 12.64 1.22
including 16 20 4 22.11 1.82
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SGC 219 0 14 14 33.00 3.21
including 0 6 6 65.03 3.93
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SGC 222 16 20 4 11.87 2.74
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True thickness is approximately 50% of the length of the intersection.
Bob McNeil, CEO and Chairman commented: 'The SGC designated holes show high-grade oxide gold and copper mineralisation extending to depth below the base of the southern oxide pit.
'The grades are excellent and again indicate that we can expect a significant (and high-grade) depth extension to Sinivit mineralisation. At this time, we do not know the extent of this mineralisation, or its mineralogy, which will determine how it can be processed. The NEGC holes show that oxide gold mineralisation extends north of the northern oxide pit in relatively narrow zones. Although higher grades are limited in this section of the deposit, the continuity is positive and may lead to similar, higher grade mineralisation at depth. The Kavursuki higher grade and wider mineralized zones are approximately one kilometer north of these holes.
Further results are expected from the Southern Oxide Pit within the next two weeks, and we expect to release the results of the Induced Polarization (IP) survey, which is presently being compiled and interpreted by our consultants.'
Assay Results Sinivit RC Drill Holes
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Cutoff
grade
Length Gold Copper (gold
Hole No. From (m) To (m) (m) (g/t) (%) g/t)
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SGC 217 10 22 12 10.28 1.85 3.0
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including 10 16 6 12.65 1.49 10.0
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including 14 16 2 16.80 2.59 16.0
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SGC 218 16 24 8 12.64 1.22 3.0
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including 16 20 4 22.11 1.82 5.0
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including 16 18 2 37.50 1.39 35.0
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SGC 219 0 14 14 33.00 3.21 3.0
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including 0 10 10 43.35 3.71 9.5
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including 0 6 6 65.03 3.93 20.0
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including 2 4 2 121.00 3.96 120.0
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including 12 14 2 11.10 0.82 9.5
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22 24 2 3.19 0.09 3.0
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SGC 220 No assays greater than 1 g/t Gold
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SGC 221 6 8 2 3.19 0.07 3.0
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SGC 222 16 20 4 11.87 2.74 5.0
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including 18 20 2 17.80 1.36 17.0
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SGC 223 16 22 6 7.69 3.42 4.0
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including 16 20 4 9.25 3.61 8.0
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NEGC 15 no assays greater than 1 g/t Gold
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NEGC 16 no assays greater than 1 g/t Gold
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NEGC 17 12 14 2 1.29 0.13 1
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NEGC 18 no assays greater than 1 g/t Gold
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NEGC 19 6 8 2 1.06 0.06 1
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NEGC 20 10 12 2 3.55 0.13 3
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NEGC 21 8 10 2 1.83 0.03 1
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NEGC 22 4 6 2 4.30 0.03 4
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NEGC 23 4 8 4 1.47 0.01 1
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NEGC 24 4 6 2 1.08 0.02 1
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8 10 2 1.73 0.04 1
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NEGC 25 no assays greater than 1 g/t Gold
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NEGC 26 no assays greater than 1 g/t Gold
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NEGC 27 6 8 1 18.70 - 18
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10 14 4 4.18 0.02 3
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NEGC 28 10 14 4 3.65 - 1
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NEGC 29 no assays greater than 1 g/t Gold
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NEGC 30 12 14 2 1.05 - 1
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28 30 2 1.19 0.01 1
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NEGC 31 no assays greater than 1 g/t Gold
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NEGC 32 no assays greater than 1 g/t Gold
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NEGC 33 12 14 2 1.61 - 1
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16 20 4 4.42 0.03 2
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NEGC 34 no assays greater than 1 g/t Gold
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NEGC 35 10 12 2 2.73 0.01 2
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NEGC 36 6 8 2 7.98 0.02 7
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NEGC 37 4 8 4 4.04 0.01 4
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NEGC 38 6 12 6 3.71 0.01 1
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including 6 8 2 7.35 0.02 7
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NEGC 39 no assays greater than 1 g/t Gold
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NEGC 40 6 10 4 2.89 0.01 1
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NEGC 41 no assays greater than 1 g/t Gold
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NEGC 42 no assays greater than 1 g/t Gold
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NEGC 43 no assays greater than 1 g/t Gold
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NEGC 44 no assays greater than 1 g/t Gold
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NEGC 45 4 6 2 1.04 0.01 1
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NEGC 46 4 6 2 1.93 0.02 1
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Sinivit Hole Location Data
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Collar Co-Ordinates
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Azimuth Inclination
Hole No. Easting (m) Northing (m) (degrees) (degrees) Depth (m)
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SGC 217 394288 9488794 90 -60 22
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SGC 218 394287 9488788 90 -60 30
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SGC 219 394292 9488786 90 -60 30
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SGC 220 394300 9488775 0 -90 30
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SGC 221 394287 9488775 90 -60 30
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SGC 222 394286 9488768 90 -60 30
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SGC 223 394281 9488758 90 -60 30
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NEGC015 394590 9489537 0 -90 30
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NEGC016 394596 9489533 0 -90 30
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NEGC017 394602 9489530 0 -90 26
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NEGC018 394597 9489527 0 -90 30
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NEGC019 394609 9489528 0 -90 30
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NEGC020 394608 9489533 0 -90 30
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NEGC021 394603 9489524 0 -90 30
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NEGC022 394610 9489522 0 -90 30
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NEGC023 394615 9489525 0 -90 30
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NEGC024 394614 9489532 0 -90 30
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NEGC025 394621 9489528 0 -90 30
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NEGC026 394634 9489549 0 -90 30
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NEGC027 394640 9489546 0 -90 30
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NEGC028 394640 9489553 0 -90 30
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NEGC029 394646 9489557 0 -90 30
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NEGC030 394645 9489564 0 -90 30
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NEGC031 394644 9489571 0 -90 30
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NEGC032 394645 9489575 0 -90 30
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NEGC033 394650 9489575 0 -90 30
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NEGC034 394651 9489568 0 -90 30
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NEGC035 394651 9489560 0 -90 30
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NEGC036 394652 9489554 0 -90 30
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NEGC037 394646 9489550 0 -90 30
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NEGC038 394653 9489547 0 -90 30
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NEGC039 394647 9489543 0 -90 30
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NEGC040 394657 9489550 0 -90 30
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NEGC041 394657 9489558 0 -90 30
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NEGC042 394656 9489565 0 -90 30
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NEGC043 394654 9489570 0 -90 30
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NEGC044 394649 9489582 0 -90 30
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NEGC045 394661 9489564 0 -90 30
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NEGC046 394663 9489569 0 -90 30
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All RC samples are partly prepared at site by splitting to 500 grams. Further preparation and analysis is completed at ALS Chemex laboratories, an accredited laboratory, in Townsville, Queensland, Australia.
The information in this release was prepared under the direction of Robert D. McNeil a Fellow of the Australasian Institute of Mining and Metallurgy and a 'qualified person' as defined by National Instrument ('NI') 43-101. Mr McNeil has read and approves the information contained herein.
Full details of Sinivit are described in an Independent NI 43-101 report dated January 2006 which is available at www.newguineagold.ca and in its recent press releases.
For further information on this release or on other NGG projects, contact Forbes West toll free at (888) 655-5532, email forbes@sherbournegroup.ca, info@newguineagold.ca, or access our website - www.newguineagold.ca.
ON BEHALF OF THE BOARD
R.D.McNeil, CHAIRMAN & CEO
Forward Looking Statements - Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of NGG, including, but not limited to the impact of general economic conditions, industry conditions, volatility of commodity prices, risks associated with the uncertainty of resource and reserve estimates, currency fluctuations, dependence upon regulatory approvals, the availability of future financing and exploration risk. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider ( as that term is defined in the policies of TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Forbes West
Investor Relations
Toll free: (888) 655-5532
forbes@sherbournegroup.ca or info@newguineagold.ca