VERY HIGH GRADE GOLD - 8m at 64.0g/t IN TRENCH AT SINIVIT
Trading Symbols: TSX-V: NGG
Frankfurt: NG8.FSE
VANCOUVER, Sept. 14 /CNW/ - New Guinea Gold Corporation ("the Company" or
"NGG") encountered very high grade gold near surface, in trench of 12m at
41.2g/t gold, including an 8m interval of 64g/t gold.
This trenching was carried out beyond the known north eastern extent of
the oxide gold mineralisation at the Northern Oxide Zone or Pit (see Figure
1). It substantially increases the known gold in this section of the Sinivit
Mine.
The location of the trench, adjacent RC drill holes, and earlier known
extent, (extrapolated to surface), of oxide gold mineralisation are shown in
Figure 1. The location of Figure 1, within the Sinivit Mine Plan, is shown in
Figure 2.
The mineralisation occurs on the slopes of a steep hill, and is covered
by one to two metres of volcanic ash. It does not outcrop. Volcanic ash
obscures all outcrop for a further 50m to 100m to the north.
Adjacent Reverse Circulation drill holes, (location is shown on Figure
1), gave the following results.
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Outcrop
Hole No From To Length Gold Grade Gold
(m) (m) (m) g/t g/t
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NGC71 0 10 10 7.1 0.5
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NGC100 2 12 10 17.0 0.5
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NGC101 2 8 6 4.5 0.5
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NGC118 4 8 4 1.9 0.5
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NGC119 0 8 8 3.1 0.5
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NGC120 4 12 8 11.5 1.0
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NGC121 0 8 8 16.4 5.0
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NGC122 0 6 6 1.4 0.5
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The mineralisation is irregular in shape, at least at a 0.5g/t cut off,
and, as indicated from the drill holes, can vary in grade rapidly over short
distances.
Bob McNeil CEO and Chairman commented: "this is a very significant
extension to the Northern Oxide Zone, and as it is open and covered to the
north, could add a significant number of high grade gold ounces to the
Northern Oxide Pit. Drill roads and further benches or trenches will be cut in
the near future for RC drilling to define the extent of this extension. Mining
of this high grade mineralisation has commenced, and is expected to be
reflected in recoveries from vats later in the fall".
To view Figure 1 and Figure 2 please visit:
http://files.newswire.ca/821/NewGuineaGold_Sept14.doc
RC samples were partly prepared at site by splitting to approximately 3
kgs. Further preparation and analysis was completed at accredited laboratory,
ALS Chemex laboratories, in Townsville, Queensland, Australia.
Drill core was logged and split (all by saw) on site with half core being
dispatched to, and assayed by accredited laboratory ALS-Chemex in Townsville,
Australia. Trench samples are continuous channel samples, in either one or two
metre intersects. Usually about 3kg is collected and prepared and assayed at
ALS - Chemex in Townsville, Australia.
The information in this release was prepared under the direction of
Robert D. McNeil a Fellow of the Australia Institute of Mines 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 the Sinivit Project are described in an Independent N1
43-101 report dated January 2006 which is available at www.newguineagold.ca .
ON BEHALF OF THE BOARD
"R.D.McNeil"
CHAIRMAN & CEO
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.
