New Guinea Gold Corporation: Exploration Drilling Update-Kavursuki
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 12/21/11 -- New Guinea Gold Corporation (TSX VENTURE: NGG)(FRANKFURT: NG8) ('NGG' or the 'Company') has received assay results from diamond drill holes 11KVD039 and 11KVD040 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
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From To Length Gold Cutoff grade
Hole No. (m) (m) (m) (g/t) (gold g/t)
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11KVD 039 15.7 16.7 1.0 1.93 1
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22.2 25.6 3.4 1.80 1
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26.8 29.8 3.0 2.06 1
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30.8 46.4 15.6 2.47 1
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inc 41.8 45.1 3.3 4.62 3
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and 42.9 43.9 1.0 6.07 6
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11KVD 040 25.5 27.1 1.6 1.35 1
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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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11KVD039 395085 9490568 163.5 -50 49.0
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11KVD040 394936 9490398 101.5 -60 37.5
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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.
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: 'It is encouraging to see significant intervals (Hole 11KVD039) of material grading 2 to 2.5g/t gold near surface as we step out along the vein system at Kavursuki.'
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
+61(7)5592.2274
+61(7)5592.2275 (FAX)
info@newguineagold.ca
www.newguineagold.ca