New Guinea Gold Corporation: Exploration Drilling Update-Kavursuki
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 09/28/11 -- New Guinea Gold Corporation ('NGG' or the 'Company') (TSX VENTURE: NGG)(FRANKFURT: NG8) has received assay results from diamond drill holes KVD028 to KVD036 in the Kavursuki zone, which is on strike with the Sinivit Mine and 1.5 to 2.0 km to the north.
Assay Results Kavursuki Diamond Drill Holes
(Assays greater than 1 g/t gold)
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From To Length Gold Cutoff grade
Hole No. (m) (m) (m) (g/t) (gold g/t)
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11KVD028 No assays greater than 1.0g/t Gold
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11KVD029 No assays greater than 1.0g/t Gold
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11KVD030 4.8 5.9 1.1 2.61 2.0
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9.1 11.6 2.5 1.56 1.5
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12.5 13.6 1.1 2.11 2.0
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14.7 19.9 5.2 6.32 2.0
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including 14.7 16.9 2.2 10.64 7.0
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21.2 23.3 2.1 1.57 1.5
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44.2 45.1 0.9 1.67 1.5
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11KVD031 No assays greater than 1.0g/t Gold
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11KVD032 No assays greater than 1.0g/t Gold
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11KVD033 No assays greater than 1.0g/t Gold
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11KVD034 26.3 27.3 1.0 2.29 2.0
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28.3 29.6 1.3 8.83 8.0
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34.2 37.4 3.2 4.26 2.0
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including 36.1 37.4 1.3 6.59 6.0
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40.8 41.9 1.1 3.73 3.0
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43.9 47.9 4.0 3.75 2.0
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11KVD035 No assays greater than 1.0g/t Gold
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11KVD036 No assays greater than 1.0g/t Gold
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Kavursuki Hole Location Data
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Collar Co-Ordinates
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Easting Northing Azimuth Inclination Depth
Hole No. (m) (m) (degrees) (degrees) (m)
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11KVD028 395234 9490817 101.5 -55 59.10
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11KVD029 395249 9490798 101.5 -50 50.00
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11KVD030 395138 9490703 101.5 -50 51.70
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11KVD031 395099 9490594 101.5 -50 61.50
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11KVD032 394931 9490423 101.5 -50 51.00
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11KVD033 395180 9490744 101.5 -50 42.00
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11KVD034 395059 9490556 101.5 -50 57.50
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11KVD035 395141 9490681 101.5 -50 51.00
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11KVD036 395206 9490475 101.5 -50 20.00
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Drill core is logged and split (all by saw) on site with crushed half core being dispatched to, and assayed by accredited laboratory ALS-Chemex in Townsville, Australia.
Thirty duplicate samples re-split from remaining crushed samples from a selection of KVD diamond drill holes from the last 12 months have been sent for gold assay at ALS Townsville. In addition, pulps from this duplicate assaying will be sent to Genalysis Townsville to further check gold assay.
The information in this release was prepared under the direction of Denis M. O'Neill a Member of the Australasian Institute of Mining and Metallurgy and a 'qualified person' as defined by National Instrument 43-101. Mr O'Neill has read and approves the information contained herein.
Greg Heaney, Acting CEO, commented: 'These drilling assay results continue to assist us in understanding the extent, location and nature of the Kavursuki vein system. The current exploration drilling program will continue until December 2011 by which time a new medium to long-term exploration program will have been finalized'.
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
Greg Heaney, 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
Greg Heaney
Acting CEO
61(7)5592.2274
61(7)5592.2275 (FAX)
info@newguineagold.ca
www.newguineagold.ca