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New Guinea Gold Corporation drilling results
Friday , 05 Jun 2009
MT PENCK INTERSECTS 69.5m at 1.82g/t GOLD from SURFACE including 29.4m at 2.32g/t GOLD
The Mt Penck Project in West New Britain Province, Papua New Guinea, is 60% beneficially owned by New Guinea Gold Corporation (NGG) and 40% by Vangold Resources Ltd. NGG holds 20% interest directly, and a 40% interest through its 50% shareholding in Pacific Kanon Gold Corporation.
The results from the first three holes (MPD39, MPD40 and MPD42), in the present drill program have confirmed wide intervals of gold mineralisation such as 69.5m from surface at 1.82g/t gold; 21m at 3.13g/t gold from 2m depth; and 66m from surface of 1.91g/t gold including higher grade intervals such as 6.9m at 3.97g/t gold. Results are still pending for hole MPD42 from 66m to end of hole at 150m. All results received to date are shown in the table below.
A further 10 holes have so far been completed in this program and results will be released progressively as they are received.
Bob McNeil CEO and Chairman commented: "these results are obviously very encouraging, particularly as they commence at or near surface. The present program is designed to provide information of the geological structural control and continuity of mineralisation, and to provide sufficient drill hole data to allow a resource estimate in accordance with the guidelines of NI 43-101 to be completed by year end. Drilling will shortly move to test other gold targets within the Mt Penck property. A detailed analysis of results including plans, will be released when more results are available".
Previous drill results from Mt Penck are described in detail in a Press Release dated 24th April 2009.
MT PENCK DRILL ASSAY RESULTS
|
Hole No
|
From
(m)
|
To
(m)
|
Length
(m)
|
Gold
(g/t)
|
Silver
(g/t)
|
Cut Off
Grade (g/t)
|
|
MPD039
|
0
|
69.5
|
69.5
|
1.82
|
2.88
|
0.2
|
|
including
|
0.8
|
30.2
|
29.4
|
2.32
|
4.75
|
1.0
|
|
including
|
24.3
|
25.7
|
1.4
|
5.45
|
2.90
|
1.0
|
|
including
|
40.9
|
44.3
|
3.4
|
2.71
|
1.74
|
1.0
|
|
including
|
57.5
|
61.1
|
3.6
|
4.01
|
2.39
|
1.0
|
|
MPD040
|
2
|
23
|
21
|
3.13
|
10.83
|
0.2
|
|
including
|
6
|
7
|
1
|
5.26
|
8.90
|
1.0
|
|
including
|
20
|
22
|
2
|
10.01
|
45.60
|
1.0
|
|
MPD042
|
0
|
66
|
66
|
1.91
|
3.46
|
0.2
|
|
including
|
13
|
19.9
|
6.9
|
3.97
|
13.08
|
1.0
|
|
including
|
46.4
|
48
|
1.6
|
5.92
|
6.29
|
1.0
|
|
including
|
57
|
61
|
4
|
3.39
|
4.10
|
1.0
|
|
including
|
62
|
65
|
3
|
3.63
|
3.23
|
1.0
|
NB: True thickness of intersections is unknown.
DRILL HOLE LOCATION DATA
|
Hole
|
Total Depth
(m)
|
Azimuth
(degrees)
|
Dip
(degrees)
|
Northing
(m)
|
Easting
(m)
|
|
MPD39
|
101.1
|
vertical
|
-90
|
9388528
|
790787
|
|
MPD40
|
120.4
|
vertical
|
-90
|
9388548
|
790805
|
|
MPD42
|
150.0
|
210
|
-60
|
9388538
|
790673
|
Drill core is logged and split (all by saw) on site with half core being dispatched to, and assayed by accredited laboratory ALS-Chemex in Townsville, Australia. In house and laboratory standards are used for quality control plus regular check sample assaying.
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
http://www.newguineagold.ca
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.
NGG has a producing gold mine at Sinivit in Papua New Guinea. Full details of the Sinivit Project are described in various Press Releases and an Independent N1 43-101 report dated January 2006 which is available at
