New Guinea Gold drills 16 m of 7.58 g/t Au at Sinivit

2010-03-31 09:32 ET - News Release

Mr. Robert McNeil reports

NEW RELEASE RE SINIVIT DRILL HOLE RESULTS

12M AT 42.15G/T GOLD IN TRENCH (INCLUDING 4M AT 118.5G/T GOLD) AND 16M AT 7.58G/T GOLD (INCLUDING 2M AT 42.9G/T GOLD) IN DRILL HOLE AT SINIVIT MINE

New Guinea Gold Corp., as noted in a Stockwatch press release dated Feb. 23, 2010, recommenced exploration at the Sinivit gold project in early 2010. Drilling has focused on defining extensions to the Northern oxide pit, and trenching on defining extensions to the Central oxide pit and the Kavursuki prospect (actually a northeast extension of the Sinivit system). All programs have been successful to date, defining extensions to both the Central and Northern oxide pits, and defining potentially mineable mineralization at Kavursuki. The Kavursuki program is continuing and reverse circulation drill testing of the oxide mineralization will commence in the near future.

New Guinea noted in the Feb. 23, 2010, Stockwatch release that it plans to complete a three-dimensional, induced polarization survey at Sinivit and surrounding areas, to target larger bodies of sulphide (copper-gold-silver-tellurium) mineralization at depth, below the oxide gold mineralization, in lateral zones and along strike. The extent of the survey is shown in a figure in the Feb. 23, 2010, Stockwatch news release.

This survey is now expected to commence in mid-April and will take about one month to complete.

The results of the trenching and drilling programs to date are summarized here, with all results and location data shown in the tables.

At the Central oxide pit west wall, a 78-metre-long channel sample in the west wall of the pit yielded the results in the table.

          From          To          Length                    Gold   Cut-off grade
          (m)           (m)         (m)                       (g/t)           (g/t)
          42            70          28                        19.42            0.5
Including 42            54          12                        42.15            1.5
and       48            52          4                         118.5          110.0

 

These results suggest previously undefined mineralization extends beyond the north and western limits of the pit. The true width of the zone is estimated at 15 to 20 m.

At Kavursuki, approximately 700 linear metres of trenching has been completed over a strike length of the mineralized zone of 500 m. A further 500 m remains to be tested.

The New Guinea Gold designated drill holes all represent extensions to originally defined mineralization at the Northern L

Hole         From         To            Length           Gold     Cut-off grade
             (m)          (m)           (m)              (g/t)             (g/t)

NEGC004      6            16            8                2.17               1.5
NEGC007      0            6             6                3.68               0.5
NEGC009      0            5             6                2.06               0.5
NEGC013      0            16            16               9.58               0.5
Including    2            8             6                18.70              5.0
Including    4            6             2                42.90             40.0

Note: True width of these intersections is uncertain.

Bob McNeil, chief executive officer and chairman, commented: "The above trenching and drilling confirms increased oxide resources (of uncertain tonnage) at Sinivit, in the Central and Northern oxide areas. The Kavursuki trenching has defined a continuous zone of higher-grade mineralization within a wide, 50-to-70-metre zone of silicification that averages 0.1 to 0.5 gram per tonne gold. The main higher-grade zone averages four m to 16 m in width and represents, at surface, significant oxide mineralization that will be able to be treated through the present Sinivit plant."

 
                      SINIVIT DRILLING RESULTS

                                                                  Cut-off
             From      To             Length       Gold             grade
Hole         (m)       (m)            (m)          (g/t)        (gold g/t)

NGC0161      0         2              2            1.51               1.5
             0         6              6            0.97               0.5
             8         10             2            1.10               1.0
NGC0162      0         4              4            1.08               0.5
NGC0163      0         2              2            1.81               1.5
NGC0164      20        22             2            2.16               2.0
NGC0165                     No assays greater than 0.5 g/t
NGC0166      0         2              2            0.76               0.5
             16        20             4            0.82               0.5
NGC0167      0         2              2            0.54               0.5
             16        18             2            0.73               0.5
NGC0168      2         4              2            1.01               1.0
             6         8              2            2.23               2.0
NGC0169      0         2              2            2.24               2.0
NGC0170      18        20             2            3.61               3.0
             18        22             4            2.23               0.5
NGC0171                     No assays greater than 0.5 g/t
NGC0172      2         4              2            0.58               0.5
NGC0173                     No assays greater than 0.5 g/t
NGC0174                     No assays greater than 0.5 g/t
NGC0175                     No assays greater than 0.5 g/t
NGC0176      0         4              4            0.77               0.5
NGC0177                     No assays greater than 0.5 g/t
NGC0178                     No assays greater than 0.5 g/t
NEGC001      14        16             2            4.33               4.0
NEGC002      16        18             2            1.78               1.5
             16        20             4            1.19               0.5
NEGC003      10        12             2            0.69               0.5
             14        18             4            1.34               0.5
NEGC004      8         16             8            2.17               1.5
             20        22             2            1.08               1.0
NEGC005      6         10             4            2.78               1.5
NEGC006      2         10             8            0.75               0.5
NEGC007      0         6              6            3.68               0.5
             0         2              2            9.14               9.0
NEGC008      4         8              4            1.86               0.5
NEGC009      0         4              4            2.73               1.5
             0         6              6            2.06               0.5
NEGC010      14        16             2            0.67               0.5
NEGC011      0         2              2            2.05               2.0
NEGC012      0         2              2            4.85               4.0
             0         8              8            1.71               0.5
             12        14             2            1.18               1.0
NEGC013      0         16             16           7.58               0.5
             2         8              6            18.70              5.0
             4         6              2            42.90             40.0
NEGC014      4         8              4            1.29               0.5

All RC drill samples are partly prepared at site by splitting to 500 grams. Further preparation and analysis are completed at ALS Chemex laboratories, in Townsville, Queensland, Australia.

Trench samples are continuous channel samples, each two m long and comprising approximately five kilograms of sample. Samples are partly prepared on site by crushing and splitting to approximately 500 g. Further preparation is completed at ALS.

The information in this release was prepared under the direction of Mr. McNeil, a fellow of the Australasian Institute of Mining and Metallurgy and a qualified person as defined by National Instrument 43-101. He has read and approved the information contained herein.

Full details of the Sinivit mine are described in an Independent N1 43-101 report, dated January, 2006, which is available on the company's website and in its recent press releases.