New Guinea Gold: Further Drilling Expands Central Oxide Zone at Sinivit
Results to 6m at 21 g/t Gold
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 09/08/08 -- New Guinea Gold Corporation (TSX VENTURE: NGG)(FRANKFURT: NG8) -
A further three Reverse Circulation drill holes within the CentralOxide Zone at Sinivit encountered oxide gold mineralisation with thebest result of 6m at 21.5g/t gold. All results are shown below:
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Hole No From (m) To (m) Length (m) Gold g/t
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CGC069 4 14 10 5.9
including 10 12 2 16.3
22 24 2 1.3
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CGC070 4 24 20 8.0
including 8 14 6 21.5
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CGC071 8 24 16 3.1
including 14 16 2 10.2
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Note: True thickness of intersections are unknown.
Drill hole location data is shown below:
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Grid Cross Total
Drill Northing Easting RL Dip Azi- Line Section Depth
Hole (metres) (metres) (metres) (degrees) muth No Northing (metres)
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SCG0069 9993.182 50018.62 902.076 -60 90 37 9996N 30
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SCG0070 9990.47 50016.41 902.236 -60 90 36 9990N 30
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SCG0071 9987.295 50013.07 902.744 -60 90 36 9990N 30
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Bob McNeil, Chairman and CEO commented: "Drilling in theCentral Oxide Zone continues to encounter near surface, excellent gradeoxide gold mineralisation. These results are significant in thatoriginal resource drilling defined gold at depths below 30m, butbecause of difficult access, no shallow holes were completed. Recentdrilling now indicates that gold mineralisation does extend to thesurface".
All samples are partly prepared at site by splitting to 500 grams.Further preparation and analysis is completed at accredited laboratory,ALS Chemex laboratories, in Townsville, Queensland, Australia.
Investors are cautioned that the development of Sinivit isproceeding in the absence of a full feasibility study. Theseevaluations are preliminary in nature and are based entirely onindicated mineral resources, which have not been categorized as mineralreserves. There is no assurance that the operating and financialprojections in the preliminary assessment will be realized. Mineralresources that are not reserves do not have demonstrated economicviability. Measured and indicated mineral resources are that part of amineral resource of which quantity and grade can be estimated with alevel of confidence sufficient to allow the application of technicaland economic parameters to support mine planning and evaluation of theeconomic viability of the deposit.
For additional details of the Sinivit deposit see Independent NI 43-101 report dated January 2006 at www.newguineagold.ca.
The information in this release was prepared under the direction ofRobert D. McNeil a Fellow of the Australia Institute of Mines andMetallurgy and a "qualified person" as defined by National Instrument43-101. Mr McNeil has read and approves the information containedherein.
For further information on this release or on other NGG projectssuch as the Sinivit Gold Mine, contact Forbes West toll free at 888 6555532, 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
The statements made in this News Release may contain certainforward-looking statements. Actual events or results may differ fromthe Company's expectations. Certain risk factors may also affect theactual results achieved by the Company.
The TSX Venture Exchange has not reviewed and does not accept the responsibility of the adequacy of this release.
Source: Marketwire (September 8, 2008 - 9:30 AM EDT)
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