National Grid ADR repsg 5 Ord Shs V.NGG

new release

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has anyone seen this one ? Nov 12,2004 14:29:19 PM Molybdenum Mineralisation Found at Simuku PRESS RELEASE MOLYBDENUM MINERALISATION LOCATED AT SIMUKU COPPER PROJECT, PAPUA NEW GUINEA Vancouver - 12th November 2004. New Guinea Gold Corporation (“NGG”) advises that bulldozer trenching at the Simuku porphyry copper property in Papua New Guinea has defined substantial widths of copper/molybdenum mineralisation. The significance of this molybdenum is as yet uncertain, but it could either provide a valuable bi-product in possible future copper mining or may even be of greater value than the copper mineralisation. The Simuku property is owned 90% by NGG and 10% by W.S. Yeaman. Trench one at Simuku, of total length 1670m, traversed the central/southern part of the porphyry copper system (see Press Release dated 29th October 2003 for additional detail of Simuku). The mineralogy of the copper and molybdenum mineralisation (substantial jarosite and hematite alteration) over much of the trench suggests significant leaching of copper minerals from the surface environment which could lead to the formation of a subsurface enriched copper zone. Significant copper and molybdenum occurs over most of the trenched area with results such as 165m of 0.184% copper and 25ppm molybdenum, 30m of 0.223% copper, 72m of 0.073% copper and 241ppm molybdenum, 24m of 0.34% copper and 37ppm molybdenum. The 72m length of 241ppm molybdenum is regarded as particularly significant and re-assaying of part of this zone by the XRF method suggests that the molybdenum results above are understated by between 5 and 25%. Further check assaying by XRF is in progress. A second trench (2), of comparable length and some 500m to the south of trench one, has now been completed. Channel samples are at the laboratory in Brisbane Australia and results should be available within three weeks. Further trenching is scheduled to commence in the new year so that a surface appraisal of the entire 4 to 5 km long copper/molybdenum system can be undertaken prior to drill testing. The technical data in this release was prepared by or under the supervision of Robert D. McNeil, Director of New Guinea Gold Corporation. Mr. McNeil is a Member of the Australian Institute of Mining & Metallurgy, and meets the requirements of NI 43-101 for a qualified person. Mr. McNeil has a M.Sc. in Geology and approximately 45 years experience in the mineral exploration industry. The TSX Venture Exchange has not reviewed and does not accept the responsibility of the adequacy or accuracy of this release. The statements made in this News Release may contain certain forward-looking statements. Actual events or results may differ from the Company’s expectations. Certain risk factors may also affect the actual results achieved by the company ON BEHALF OF THE BOARD “R. D. McNeil” CHAIRMAN & CEO Ngg/release/molymineralisation Simuku 12 Nov’04 || Home || Live Market Quotes || Sell Prices || Buy Prices || Charts || Links || Gold Forum || Jewelry Sector || About us || For sales information please contact [e-mail] Copyright © 2001 Kitco Inc. Disclaimer