New Guinea Gold
New Guinea Gold is the next big gold producer New Gold Producer in Papua New Guinea with approx 1 million ozs in gold equivilant resources, and targets exceeding 5 millions ozs
| May 25, 2009 | |
| New Guinea Gold Corporation: Excellent Drill Results from Weioko with 34m at 2.76g/t Gold Including 17m at 4.54g/t Gold | |
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VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 25, 2009) - New Guinea Gold Corporation (TSX VENTURE:NGG)(FRANKFURT:NG8) - Results from the first seven holes of a 15 hole drill program at Weioko Project (Sehulea Property - 100% NGG) all intersected gold mineralisation with best results of 28m at 2.56g/t gold (including a 1m sample of 29.20g/t gold); 34m at 2.76g/t gold (including 3m at 16.27g/t gold); and 16m at 1.19g/t gold. Silver results ranged up to 5m at 11.52g/t silver, including 1m at 35.90g/t. All results are shown in the table below. Bob McNeil, CEO and Chairman, commented "These results continue to enhance the value of the Weioko Project which is on Normanby Island, Papua New Guinea, approximately 10kms from NGG's premier project at Imwauna. Any development of Weioko is likely to be co-ordinated with the development of Imwauna. Of interest is the significant silver credit." The Weioko Gold Project is a key New Guinea Gold (NGG) gold project that has been partly explored to date but the drilled mineralisation represents less than 5% of the known gold in soil anomalous area (see Press Release dated March 30, 2009). NGG is presently completing the last hole of a modest 15 diamond core drill program. The results of these holes, when included with results from 20 RC holes and 23 diamond core holes already completed, should be sufficient to allow a resource estimation to be completed in accordance with the guidelines of NI 43-101. The results of all previous holes, using a 0.2g/t gold cut off are shown in Table 1 of the Press Release dated March 30, 2009. Previous surveys have included soil geochemistry, rock chip, side looking radar and Induced Polarisation (IP) geophysical surveys. Geochemical soil anomalism is present over an area of 6 kms by 2 kms. Only a very small part of this anomalous area has been tested by either drilling or trenching. WEIOKO DRILL RESULTS
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Cut off
Hole No From To Length Gold Silver Grade
(m) (m) (m) (g/t) (g/t) (g/t)
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PWED35 0 4 4 6.05 8 0.2
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including 0 2 2 10.50 10.80 1.0
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8 36 28 2.56 7.13 0.2
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including 10 12 2 1.13 5.95 1.0
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15 20 5 7.89 11.52 1.0
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including 18 19 1 29.20 35.90 1.0
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23 28 5 3.75 7.62 1.0
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including 23 25.5 2.5 5.30 8.90 1.0
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32 34 2 1.22 5.30 1.0
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PWED36 0 2 2 2.58 10.70 0.2
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10 22 12 0.89 5.64 0.2
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32 45.3 13.3 0.26 2.70 0.2
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PWED37 8 24 16 1.19 7.07 0.2
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including 10 11 1 6.06 13.30 1.0
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34 40 6 0.72 4.10 0.2
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51 55 4 0.43 4.40 0.2
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57.5 60.4 2.9 0.28 2.96 0.2
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PWED38 0 4 4 1.50 5.25 0.2
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including 0 2 2 2.28 4.56 1.0
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10 18 8 1.02 6.40 0.2
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including 11 14 3 2.02 7.73 1.0
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22 36 14 1.24 6.63 0.2
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including 22 26 4 3.03 8.80 1.0
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PWED39 0 2 2 2.47 7.20 0.2
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9 25 16 0.97 6.35 0.2
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including 17 21 4 1.70 6.95 1.0
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9 12 3 1.05 5.30 0.2
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PWED40 0 3 3 2.15 8.50 0.2
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0 40.5 31.5 0.92 5.33 0.2
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including 9 13 4 1.26 4.30 1.0
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17 18 1 4.38 9.80 0.2
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28 29 1 1.24 8 0.2
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31.5 33 1.5 2.47 10.30 0.2
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41 45.4 4.4 1.52 5.28 0.2
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including 41 42.5 1.5 3.98 9 1.0
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PWED41 9 43 34 2.76 7.71 0.2
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including 20 37 17 4.54 9.31 1.0
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including 28 31 3 16.27 27.27 1.0
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46 51.4 5.4 0.96 15.18 0.2
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HOLE LOCATION DATA
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Collar Co-Ordinates
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Hole No Easting Northing Azimuth Inclination Depth
(m) (m) (degrees) (degrees) (m)
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PWED035 297600 8895291 183 -43 36
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PWED036 297600 8895291 183 -59 45.3
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PWED037 297600 8895291 180 -70 60.4
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PWED038 297600 8895291 064 -43 36
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PWED039 297600 8895291 089 -61 45.4
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PWED040 297600 8895291 150 -44 40.5
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PWED041 297600 8895291 148 -60 51.4
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Note: The true thickness of the above intersections cannot be determined
until a resource model is completed.
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. For further information on this release or on other NGG projects such as the Sinivit Gold Mine, contact Forbes West toll free at 888 655 5532, email forbes@sherbournegroup.ca or Judith O'Quinn at 604 662 3598, email ngg@telus.net or access our website - www.newguineagold.ca ON BEHALF OF THE BOARD R.D.McNeil, CHAIRMAN & CEO |
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Clavis
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New Guinea Gold
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