Nuukfjord Gold Ltd.
TSX : NUU

Nuukfjord Gold Ltd.

June 22, 2010 08:45 ET

Nuukfjord Commences Drilling at Storo Gold Deposit

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 22, 2010) - Nuukfjord Gold Ltd. ("Nuukfjord") (TSX:NUU) is pleased to announce the commencement of drilling and regional exploration at the Nuukfjord Gold Project in Greenland. The program will include a 20 hole 4,000 to 5,000 metre diamond drill program at the Storø Gold Deposit. The Storø Deposit extends for at least 800 metres and is open for expansion along strike and down-dip.

Phase 1 drilling at Storø will target the Thrust Zone, testing the northward down dip extension of the priority high grade gold Main Zone. Subsequent holes will focus on the deposit's parallel Main and BD zones which are separated by an average of 125 metres; testing the up-dip and on-strike extents of currently known mineralization. Surface prospecting and detailed geological mapping will also be carried out within the Storø – Storø North mineralized trend (a 4 km long gold prospective region) with the goal of defining additional drill targets.

Previous operators have spent $11.5 million on the project and have completed 12,000 meters of diamond drilling. Select highlight gold past results include 60 metres of 2.89 gpt, 11.9m of 12.7 gpt, 10.0m of 10.10 gpt, and 2.0m of 52 gpt (true interval lengths are unknown).

Nuukfjord is concurrently conducting regional scale exploration on other high priority areas within the under explored 150 kilometre Nuukfjord Archean Gold Belt with the objective of generating additional drill targets. The 2010 regional mapping and sampling program will target numerous showings and geochemical anomalies found mainly within the priority areas of Isua, Qussuk, Igasoq and the islands of Bjorneo and Semitisaq; an un-sourced rock sample collected from a glacial moraine in the Isua area returned assayed 6,860 g/t Au.

ABOUT NUUKFJORD

Nuukfjord Gold Ltd. is a well-financed gold exploration company with an option agreement on the Nuukfjord Gold Project in Greenland which covers an extensive land package of 1,200 km2, located on the ice-free ocean accessible coast of southwest Greenland. The project's claims cover the majority of the Nuukfjord Gold Province which hosts a 150 km long gold mineralized tract with numerous underexplored gold enriched Archean Greenstone Belts. These belts, analogous to the prolific greenstone gold mining camps of central Canada, are the focus of the program.

Michael Moore, PGeo, is the qualified person who has reviewed the technical information contained in this news release on behalf of the Company.

ON BEHALF OF THE BOARD

Aaron Keay, President, CEO and Director

Forward-Looking Statements: This Nuukfjord Gold News Release may contain certain "forward-looking" statements and information relating to Nuukfjord which are based on the beliefs of Nuukfjord management, as well as assumptions made by and information currently available to Nuukfjord management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations, exploration and development risks, expenditure and financing requirements, title matters, operating hazards, metal prices, political and economic factors, competitive factors, general economic conditions, relationships with vendors and strategic partners, governmental regulation and supervision, seasonality, technological change, industry practices, and one-time events. Should any one or more of these risks or uncertainties materialize or change, or should any underlying assumptions prove incorrect, actual results may vary materially from those described herein.

Contact Information

  • Nuukfjord Gold Ltd.
    David Matousek
    Investor Relations and Corporate Development
    604 681 5672 or Toll free: 888 681 5672
    604 687 7179 (FAX)
    david@nuukfjord.com
    or
    Nuukfjord Gold Ltd.
    Aaron Keay
    President, CEO and Director
    604 672 4024 or 604 323 6911
    aaron@nuukfjord.com
    www.nuukfjord.com