New Guinea Gold Corporation Announces Progress on Gold Anomaly's Projects
20.12.2010 | Marketwire
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 12/20/10 -- Gold Anomaly Ltd, an Australian Securities Exchange listed company (GOA), the operator of the Crater Mountain Joint Venture, announced on December 13, 2010 that drilling had commenced at its Crater Mountain Gold project in Papua New Guinea.Maurice Gannon, President and Acting CEO of New Guinea Gold Corporation (TSX VENTURE: NGG) (FRANKFURT: NG8) commented:
'NGG announced on November 16, 2010 that that it had signed a Letter of Intent whereby Gold Anomaly Limited (GOA) would acquire NGG's 10% free carried interest (to Bankable Feasibility) in the Crater Mountain Gold Project in Papua New Guinea in exchange for 31,250,000 GOA shares. The conversion of NGG's interest in the Crater Mountain project to equity in GOA has widened NGG's interests to GOA's broader portfolio of projects and I believe it is in the interests of NGG shareholders to keep them informed of progress on GOA's projects'.
GOA has recently made the following announcements:
- On December 8, 2010 Ferguson Is. Gameta Deposit - Initial Resource Estimate
- On December 13, 2010 Drilling Begins at Crater Mountain PNG Gold Prospect
- On December 16, 2010 Results of Trench Sampling, Sao Chico Gold Project, Brazil; and
- On December 20, 2010 Conductive Anomalies Identified at Sao Chico, Brazil
The GOA announcements can be viewed on www.goldanomaly.com.au
ON BEHALF OF THE BOARD
Maurice Gannon
President / Acting Chief Executive Officer
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 the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
For further information on this release
or on NGG projects such as the Sinivit Gold Mine, contact
Forbes West
Toll free at (888)6555532
forbes@sherbournegroup.ca or info@newguineagold.ca
www.newguineagold.ca