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 27, 2009 | |
| New Guinea Gold Corporation: Drilling in Central Oxide Zone, Sinivit, Papua New Guinea, Gives Results to 4m at 57.30g/t Gold | |
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VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 27, 2009) - New Guinea Gold Corporation (TSX VENTURE:NGG)(FRANKFURT:NG8) - Mineralisation definition drilling in the Central Oxide Zone at the Sinivit Mine has confirmed substantial gold mineralisation with best results such as 14m at 2.45g/t gold, 14m at 3.27g/t gold, and 6m at 39.7g/t gold, including 4m @ 57.30 g/t gold. Results for 37 Reverse Circulation drill holes, each drilled to a nominal depth of 30 metres are shown in the table below. These vertical holes were drilled on a nominal 6m by 6m grid to determine the extent of near surface gold mineralisation. Drilling is ongoing. The drilling indicates that gold mineralisation is widespread with some continuous narrower high grade zones, surrounded by lower gold grades in both footwall and hanging wall. The location of the Central Oxide Zone is shown in the accompanying diagram. No significant mining has yet been undertaken in this zone, and the above drill holes, plus earlier drill holes, will now provide the basis for an updated mine production plan for the Central Oxide Zone. Assays from additional holes will be released in the near future. The true thickness of intersections cannot be accurately determined until the mine plan is completed. An update of the Sinivit Mine status is expected to be released in early June 2009. RC samples were partly prepared at site by splitting to approximately 3 kgs. Further preparation and analysis is completed at accredited laboratory, ALS Chemex Laboratories, in Townsville, Queensland, Australia. The information in this release was prepared under the direction of Robert D. McNeil a Fellow of the Australian Institute of Mines and Metallurgy and a "qualified person" as defined by National Instrument 43-101. Mr McNeil has read and approves of 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 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 SINIVIT CENTRAL OXIDE ASSAY DRILL RESULTS
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Hole ID From To Interval Gold (g/t) Copper (ppm)
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CGC0107B 20 30 10 1.04 553
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CGC0108B 0 14 14 2.45 1624
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CGC0114 28 30 2 0.82 2980
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CGC0115 2 4 2 0.61 85
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CGC0116 4 6 2 0.67 237
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CGC0118 4 6 2 0.76 122
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CGC0119 2 4 2 1.58 49
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CGC0122 4 6 2 0.52 75
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CGC0124 0 4 4 1.10 275
10 14 4 2.94 781
Incl. 2m @ 28.80 g/t gold 20 28 8 9.24 1914
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CGC0125 0 8 8 1.00 98
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CGC0126 6 14 8 2.83 171
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CGC0127 4 8 4 1.49 4570
16 24 8 1.54 1349
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CGC0128 Incl. 2m @ 15.85 g/t gold 14 28 14 3.27 2100
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CGC0129 18 20 2 0.76 1630
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CGC0130 2 4 2 5.96 157
20 26 6 0.85 2613
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CGC0133 2 14 12 3.25 137
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CGC0134 0 2 2 1.59 218
20 28 8 0.67 420
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CGC0135 8 10 2 1.63 53
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CGC0136 14 22 8 1.09 439
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CGC0139 14 16 2 0.56 276
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CGC0140 10 16 6 1.35 232
Incl. 2m @ 14.60 g/t gold 24 30 6 5.41 5038
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CGC0141 18 28 10 1.90 1166
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CGC0142 4 6 2 0.87 128
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CGC0144 20 22 2 16.00 1310
28 30 2 5.14 5730
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CGC0145 12 14 2 1.78 377
Incl. 4m @ 57.30 g/t gold 24 30 6 39.71 2063
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CGC0146 0 2 2 1.41 272
8 12 4 2.41 1149
22 24 2 0.51 573
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CGC0147 Incl. 2m @ 13.95 g/t gold 6 12 6 6.59 1423
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CGC0148 Incl. 2m @ 19.20 g/t gold 20 30 10 6.55 2812
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Please Note: In holes 117, 120, 121, 123, 131, 132, 137, 138, and 143 there
were no significant intersections
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Clavis
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Cornwall
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President
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06/17/2008
New Guinea Gold
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