New Guinea Gold Intersects 5.82 g/t Gold Over 17.2 m and 10.35 g/t Gold Over 1.9 m in the Kavursuki Zone, Sinivit Project, Papua New Guinea
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 07/04/11 -- New Guinea Gold Corporation ('NGG' or the 'Company') (TSX VENTURE: NGG)(FRANKFURT: NG8) has received assay results from diamond drill holes KVD026 and KVD027 in the Kavursuki zone, which is on strike with the Sinivit Mine and 1.5 to 2.0 km to the north. From a depth down hole of 22.7 m the mineralized zone, KVD026 averaged 5.82 g/t gold over a core length of 17.2 m and included a high grade zone of 4.1 m at 19.04 g/t. KVD027 intersected 10.35 g/t gold over a 1.9 m core length starting at a depth of 30.7 m.
Results from holes KVD022, 023 and 024, completed earlier in the year and located 25 m to 100 m south of the more recent holes, are also reported. Assay results are shown in the table below; composited sections have been calculated with using a cutoff grade, as shown.
Assay Results Kavursuki
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From To Length Gold Cutoff grade
Hole No (m) (m) (m) (g/t) (gold g/t)
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11KVD022 nsr
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11KVD023 16.5 17.8 1.3 1.16 -
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11KVD024 7.8 8.7 0.9 1.34 -
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11KVD026 22.7 39.9 17.2 5.82 0.5
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including 33.8 39.9 4.1 19.04 0.7
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4.4 8.7 4.2 1.10 0.5
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11KVD027 30.7 32.6 1.9 10.35 -
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and 43.0 43.9 0.9 1.86 -
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and 50.8 51.8 1.0 2.20 -
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True width is estimated at 80% of the above core lengths
nsr - no significant results over 1.0 g/t gold
Kavursuki Hole Location Data
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Collar Co-Ordinates
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Easting Northing Azimuth Inclination Depth
Hole No. (m) (m) RL (degrees) (degrees) (m)
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11KVD022 395145 94907739 745 109.5 -50 51.0
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11KVD023 395187 9490713 760 281.5 -60 52.9
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11KVD024 395249 9490784 753 281.5 -60 45.0
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11KVD026 395272 9490810 776 281.5 -60 51.7
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11KVD027 395252 9490870 767 101.5 -50 56.1
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Holes KVD026 and KVD027 were drilled near the northern end of the Kavursuki zone to intersect the mineralized zone in the vicinity of trenches 20 and 21. These trenches exposed mineralized zones of 20 m grading 8.08 g/t gold (including 4 m at 20.35 g/t gold) and 12 m at 12.29 g/t gold (including 6m at 18.98 g/t gold). KVD026 is on the same section and approximately 30m east of KVD025 (see Figure 1 and Company news releases dated April 13, 2011 and June 29, 2011). KVD027 is about 60 m north of this section.
Note: To view Figure 1, please click the following link: http://media3.marketwire.com/docs/ngg0704.pdf.
Bob McNeil, Consultant commented: 'these drill holes extend the high grade zone at Kavursuki. They further confirm the potential of this one kilometer long zone to the north of the Sinivit Mine to be equal to or exceed the original Sinivit oxide zone'.
Drill core is logged and split (all by saw) on site with half core being dispatched to, and assayed by accredited laboratory ALS-Chemex in Townsville, 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 43-101. Mr. McNeil has read and approves the information contained herein.
Full details of Sinivit are described in an Independent National Instrument 43-101 report dated January 2006 which is available at www.newguineagold.ca.
For further information on this release or on other NGG projects such as the Sinivit Gold Mine, please contact info@newguineagold.ca, or access our website - www.newguineagold.ca.
ON BEHALF OF THE BOARD
Ces Iewago, Acting 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 the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
New Guinea Gold Corporation
61(7)5592.2274
61(7)5592.2275 (FAX)
info@newguineagold.ca
www.newguineagold.ca