New Guinea Gold Corporation: Exploration Drilling Update-Kavursuki
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/03/11 -- New Guinea Gold Corporation ('NGG' or the 'Company') (TSX VENTURE: NGG)(FRANKFURT: NG8) has received assay results from diamond drill holes 11KVD037 to 11KVD038 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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11KVD037 11.90 13.70 1.8 11.35 11
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21.80 26.30 4.5 1.96 1
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inc 22.90 24.10 1.2 3.51 3
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27.30 30.00 2.7 2.16 1
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inc 28.40 30.00 1.6 2.93 2
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11KVD038 32.70 33.80 1.1 1.48 1
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34.80 35.90 1.1 2.67 2
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37.00 49.40 12.4 2.87 1
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inc 38.00 39.00 1.0 12.05 12
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50.15 51.15 1.0 4.62 4
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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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11KVD037 395000 9490475 101.5 -60 37.00
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11KVD038 394960 9490447 101.5 -60 54.00
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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 were 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.
Denis O'Neill commented: 'The significance of these two holes (following on from previous drilling) in the southern section of the Kavursuki vein system is that a continuous zone of more than 200m strike length of potentially economic gold mineralization has been demonstrated.'
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