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, May 25 (MARKET WIRE) --
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)
---------------------------------------------------------------------------
---------------------------------------------------------------------------
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
---------------------------------------------------------------------------
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
---------------------------------------------------------------------------
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
---------------------------------------------------------------------------
57.5 60.4 2.9 0.28 2.96 0.2
---------------------------------------------------------------------------
PWED38 0 4 4 1.50 5.25 0.2
---------------------------------------------------------------------------
including 0 2 2 2.28 4.56 1.0
---------------------------------------------------------------------------
10 18 8 1.02 6.40 0.2
---------------------------------------------------------------------------
including 11 14 3 2.02 7.73 1.0
---------------------------------------------------------------------------
22 36 14 1.24 6.63 0.2
---------------------------------------------------------------------------
including 22 26 4 3.03 8.80 1.0
---------------------------------------------------------------------------
PWED39 0 2 2 2.47 7.20 0.2
---------------------------------------------------------------------------
9 25 16 0.97 6.35 0.2
---------------------------------------------------------------------------
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
---------------------------------------------------------------------------
0 40.5 31.5 0.92 5.33 0.2
---------------------------------------------------------------------------
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
---------------------------------------------------------------------------
41 45.4 4.4 1.52 5.28 0.2
---------------------------------------------------------------------------
including 41 42.5 1.5 3.98 9 1.0
---------------------------------------------------------------------------
PWED41 9 43 34 2.76 7.71 0.2
---------------------------------------------------------------------------
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
----------------------
Hole No Easting Northing Azimuth Inclination Depth
(m) (m) (degrees) (degrees) (m)
------------------------------------------------------------------------
------------------------------------------------------------------------
PWED035 297600 8895291 183 -43 36
------------------------------------------------------------------------
PWED036 297600 8895291 183 -59 45.3
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PWED037 297600 8895291 180 -70 60.4
------------------------------------------------------------------------
PWED038 297600 8895291 064 -43 36
------------------------------------------------------------------------
PWED039 297600 8895291 089 -61 45.4
------------------------------------------------------------------------
PWED040 297600 8895291 150 -44 40.5
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PWED041 297600 8895291 148 -60
51.4------------------------------------------------------------------------
Note: The true thickness of the above intersections cannot be determined
until a resource model is completed.
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.
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
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
Forbes West
Toll Free: 1-888-655-5532
forbes@sherbournegroup.ca
New Guinea Gold Corporation
Judith O'Quinn
604-662-3598
ngg@telus.net
www.newguineagold.ca
Copyright 2009, Market Wire, All rights reserved.
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