New Global Ventures International Ltd.
TSX VENTURE : NNG

New Global Ventures International Ltd.

October 01, 2010 10:45 ET

New Global Files 43-101 on El Tesoro Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 1, 2010) - New Global Ventures International Ltd. (TSX VENTURE:NNG) -

Following receipt of Exchange acceptance on September 17, 2010 of the Company's acquisition of a 100% interest in all of the mining rights on the El Tesoro property in Antioquia, Colombia, New Global Ventures International Ltd. has filed a 43-101 compliant Technical Report on SEDAR. The Technical Report, entitled "Field Review and Observations of the El Tesoro Licence, Colombia, NI43-101 Technical Report" dated August 2010 was prepared for New Global Ventures by Exploration Alliance Ltd. and recommends an initial program of US$557,500. This will include a more detailed geological mapping, trenching, rock-chip sampling and an initial drilling program at El Tesoro, given the property's proximity to the producing Minas el Vapor gold mine and the observed styles of mineralization, and vein orientations at El Tesoro.

El Tesoro is located approximately 20 kms from the Gramalote Gold Deposit, which is a joint venture between B2Gold (TSX: BTO) and AngloGold Ashanti (NYSE: AU). In January 2009, B2Gold announced a National Instrument 43-101 compliant inferred mineral resource estimate for the Gramalote Ridge Zone of 74.375 million tonnes grading 1.00 g/t Au for a total of 2.39 million troy ounces of gold.

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