New Global Ventures International Ltd.
TSX VENTURE : NNG

New Global Ventures International Ltd.

September 27, 2010 09:06 ET

New Global Commences Pre-Drill Campaign at El Tesoro Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 27, 2010) - New Global Ventures International Ltd. (the "Company") (TSX VENTURE:NNG) announced that it has commenced a trenching, geological mapping, and soil sampling program at its flagship El Tesoro project, located approximately 20 kms from the Gramolate Gold Deposit, which is a joint venture between B2Gold (TSX: BTO) and AngloGold Ashanti (NYSE: AU). This next phase of exploration will be managed by Equity Exploration Consultants Ltd. of Vancouver, B.C.

Mark Lawson, New Global Ventures President and CEO, said, "Our initial very successful surface results at El Tesoro make us eager to aggressively explore the property. Equity Exploration Consultants have already identified four vein orientations that we will be focusing on during this field program. Once we have completed trenching we plan to commence the project's first drill program comprising 2,000 to 5,000 meters as soon as possible."

Trenching

The current trenching program has been designed to develop drill targets to be tested in a core drilling campaign planned for late 2010. Twelve 20 meter long trenches for a total of 240 meters will be dug by hand to a depth appropriate for the location determined in the field but likely 1.5 m or deeper. A trenching rate of 2 m per day per man is assumed. The Company has the option to expand the trenching program to 1,000 meters. Trenches will be located on the basis of the results of the initial soil sampling program. Where applicable trenches will be orientated perpendicular to the strike of known structures and/or vein orientations. Sampling within the trenches will be continuous along the length of the trench at 1.0 m intervals.

Soil Sampling

A soil sampling grid has been designed to cover intrusive rocks underlying the property, and to also intersect all of the vein orientations recognized on the property to date. Field observations of the soil/saprolite profile indicate that samples will be collected at a depth of 70-80 cm. A total of 1,263 soil samples will be taken as part of this exploration program.

Geological Highlights

The following description is based on initial field work conducted by Equity Exploration Consultants Ltd., in conjunction with the Company's Colombian geologists, verification while on site and publically available maps and reports. The El Tesoro property is underlain by Palaeozoic metamorphic basement rocks intruded by diorite and quartz diorite of the Jurassic Segovia Batholith. Metamorphic rocks outcrop in the west of the property where they are in faulted contact with the intrusive rocks and the south of the property where they have been tentatively interpreted to occur as country rock to the Jurrasic diorite.

Saprolite development is extensive on the property and likely exceeds 40 m depth as indicated in the Argentina mine immediately to the southeast of the property. Where visible the diorite displays a medium grained granular texture comprised of plagioclase, chlorite pseudomorphs of amphibole and quartz. The Pallestina Fault is a regionally significant north northeast striking structure with a dextral sense of displacement. It has been interpreted to be a reactivated structure and cuts the Segovia Batholith. The Pallestina also cuts and displaces older north-south striking structures with a sinistral sense of displacement (Nus and Bagra faults).

Reversing displacement across the Pallestina fault would put the eastern side of the property 27 km to the north. Second and third order faults are numerous, typically host to the veins and occur in four orientations, which include north striking, west striking, west northwest striking and southwest striking. Dip of the veins is typically moderate to steep and towards to north quadrants. The initial analysis is that the El Tesoro property may be a localized area of extension between two regionally significant structures.

The content of this news release has been reviewed by Mr. Ken Thorsen, P. Eng., who serves as the Qualified Person in accordance with National Instrument 43-101.

ON BEHALF OF THE BOARD

Mark Lawson, President & CEO

Neither the 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.

Contact Information

  • New Global Ventures International Ltd.
    Andreas Curkovic
    Investor Relations
    416-577-9927
    or
    New Global Ventures International Ltd.
    Tyler Ross
    Corporate Development
    604-893-8838
    or
    New Global Ventures International Ltd.
    Jeremy Ross
    Corporate Development
    604-893-8838
    604-662-3904 (FAX)
    or
    New Global Ventures International Ltd.
    Mark Lawson
    President & CEO
    416-623-0565