New Guinea Gold Corporation
TSX VENTURE : NGG

New Guinea Gold Corporation

September 12, 2005 12:37 ET

New Guinea Gold Announces Extensive Copper and Significant Molybdenum in Initial Trench Results at Simuku

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Sept. 12, 2005) - New Guinea Gold Corporation (TSX VENTURE:NGG) -



Investor Conference call - Wednesday, September 14, 2005-8:30 a.m.
Pacific time/11:30 a.m. Eastern time


Widespread significant copper and less extensive, but still very encouraging molybdenum is present in the initial one third of the bulldozer / excavator trenching results from the Simuku porphyry copper system, West New Britain Province, Papua New Guinea. Values of both metals are more widespread and apparently continuous than was previously known. Approximately one third of the trench sample results have now been received with the remainder expected throughout September.

Highlights of the trenching results to date are as follows:

- 39m interval averaging 873ppm molybdenum, inc. a 21m interval averaging 1513ppm (0.15% Mo or 0.25% MoS2).

- 108m interval averaging 0.40% copper and 0.12g/t gold, including a 9m interval averaging 0.58% copper, 0.2g/t gold and 146ppm molybdenum.

- 105m interval averaging 0.36 copper including a 27m interval averaging 0.76% copper.

- 18m interval averaging 0.4% copper and 0.12g/t gold inc. a 9m interval averaging 0.1g/t gold, 0.8% copper and 98ppm molybdenum.

- 142m interval averaging 0.18% copper, and 74ppm molybdenum incl. a 3m interval averaging 1.58% copper, 235ppm molybdenum and 0.16g/t gold.

The results of an initial 900 of approximately 3,000 samples have now been received. The trenching covered by this part of the program covers a 1.5 sq km area, mainly to the west and south of previously completed drill holes (or between holes 2 and 3 - see map in Press Release dated 23rd February 2005). Most results above cut offs of 0.1% copper and/or 50ppm molybdenum are shown in the table below. Exceptions are numerous narrower intervals less than 6m wide. In some instances to provide continuity to sampled intervals, lower values than the above cut offs are incorporated in the averages.

Previous trench results reported by Placer Pacific in 1995, several hundred metres to the north of these trenches included the following results:

- 33m at 0.63% copper, 0.19g/t gold and 77 ppm molybdenum.

- 48m at 0.67% copper, 0.12g/t gold and 691 ppm molybdenum.

The above interval with 691ppm molybdenum is approximately 1 km north of the 39m interval at 873ppm molybdenum announced in this Press Release.

In addition, on November 11th and 23rd, 2004, NGG announced earlier trench results from the central-southern part of Simuku including a 72m interval of 241ppm molybdenum. Complete trench results for that program are given in those releases.

Molybdenum values reported here and in previous releases are thought to be understated.

Check assaying for molybdenum has been completed, or previous check assaying noted, on 42 trench samples and 21 drill chip samples. Molybdenum analysis on trench and drill samples to date has used an aqua regia acid digest. This method is essentially a geochemical method and does not always extract all the molybdenum in a sample. As a check, the 63 samples above were re-assayed using the XRF technique which is generally considered to give more accurate molybdenum results. The results from the batch of 42 trench samples suggested that molybdenum, as reported above and in previous releases, was being underestimated by about 11 percent. The 21 drill samples, however, returned on average results 70% higher than earlier reported results.

We are presently conducting check assaying by XRF on a further 100 samples to confirm the average underestimation in molybdenum content for surface samples.

It should be noted that none of the drill holes to date have tested the higher value molybdenum zones. Management consider the trench results received to date are better in both absolute value and distribution than had been expected and have already defined several new areas which warrant testing by drilling.

Management cautions however that the copper, gold and molybdenum results in trench are a guide only to sub-surface, primary or secondary grades of copper and/or molybdenum. The surface rock mineralogy suggests that over much of the prospect, significant copper has been leached from surface and near surface rocks.

The Simuku system is a high sulphide system that promotes such leaching of copper minerals from surface outcrops . Surface mineralogy, which contains the minerals jarosite and hematite and comparison of surface results with known drill-hole results suggest sub-surface copper grades may be much higher than surface results.

An initial comparison of surface results with known drill hole results, suggest such surface copper grades may be higher than surface results. A complete assessment of the sub-surface copper potential cannot be concluded until all trench samples are available, and such results compared to surface mineralogy, known drill-hole results and topography. Topography also plays a part in the degree of leaching of copper minerals.

Management also cautions that although the higher value molybdenum results reported here and in the former Placer trench are very encouraging, they have not yet been tested by drilling and cannot at this stage be considered to be indicative of an economic molybdenum deposit. Management further cautions that an assessment of all results, both copper and molybdenum will not be completed before mid October at which stage the future program will be outlined.

Complete trench results received to date are summarized below:



SIMUKU TRENCH SAMPLING - 2005
-----------------------------

---------------------------------------------------------------------
---------------------------------------------------------------------
SAMPLE NO'S LENGTH Au Cu Mo
(m) g/t % Ppm
---------------------------------------------------------------------
---------------------------------------------------------------------
31930 - 35 18 - 0.53 -
incl
31930 - 32 9 0.10 0.80 98
---------------------------------------------------------------------
31940 - 43 12 0.19 0.13 -
---------------------------------------------------------------------
31950 - 85 108 0.12 0.40 -
incl
31977 - 84 24 0.13 0.82 67
incl
31981 - 83 9 0.20 0.58 146
---------------------------------------------------------------------
31981 - 98 54 0.09 0.21 109
incl
31984 - 90 6 - - 209
---------------------------------------------------------------------
56040 - 42 9 0.18 0.03 368
---------------------------------------------------------------------
56092 - 101 45 - 0.13 -
---------------------------------------------------------------------
56108 - 116 27 - 0.23 -
---------------------------------------------------------------------
56122 - 156 105 - 0.36 -
incl
56131 - 139 27 - 0.76 -
---------------------------------------------------------------------
56230 - 263 99 - 0.25 -
incl
56272 - 43 6 - - 262
---------------------------------------------------------------------
56337 - 167 93 - 0.21 -
---------------------------------------------------------------------
56372 - 415 237 - 0.22 -
incl
56372 - 405 162 0.06 0.29 55
incl
---------------------------------------------------------------------
56375 - 87 39 0.10 0.52 108
---------------------------------------------------------------------
56444 - 51 24 - 0.14 -
---------------------------------------------------------------------
56457 - 59 9 - 0.27 -
---------------------------------------------------------------------
56464 - 70 24 - - 101
---------------------------------------------------------------------
56507 - 13 70 - 0.11 -
---------------------------------------------------------------------
56517 - 23 35 - 0.13 -
---------------------------------------------------------------------
56541 - 47 21 - 0.09 154
---------------------------------------------------------------------
56613 - 15 9 - 0.23 73
---------------------------------------------------------------------
56713 - 34 60 - 0.05 112
---------------------------------------------------------------------
---------------------------------------------------------------------
SAMPLE NOS LENGTH m Au g/t Cu % Mo ppm
---------------------------------------------------------------------
---------------------------------------------------------------------
56775 3 - 0.1 166
---------------------------------------------------------------------
56778 3 - 0.05 200
---------------------------------------------------------------------
56783 - 831 142 - 0.18 74
incl
56783 - 87 18 - 0.38 120
incl
56785 3 0.16 1.58 235
incl
56808 - 12 18 - 0.34 -
incl
56812 - 13 6 - - 128
---------------------------------------------------------------------
56856 - 63 24 - 0.03 106
---------------------------------------------------------------------
56864 - 67 12 - 0.12 25
---------------------------------------------------------------------
57008 - 12 15 - 0.15 36
---------------------------------------------------------------------
57039 - 55 48 - 0.18 79
---------------------------------------------------------------------
57107 - 13 21 - 0.18 -
incl
57102 - 03 6 - 0.11 115
---------------------------------------------------------------------
57140 - 41 6 - 0.08 260
---------------------------------------------------------------------
57147 - 59 39 - - 873
incl
57153 - 59 21 - 0.03 1513
---------------------------------------------------------------------
---------------------------------------------------------------------


Trenches were channel sampled in either 3 or 5 metre lengths with approximately 4kg of samples collected from each interval. The samples were prepared and analysed by accredited laboratory ALS - Chemex in their Townsville, Australia laboratory.

For location of Simuku Prospect and additional detail see previous Press Releases or Technical Report at www.newguineagold.ca.

An Investor Conference Call will be held on Wednesday, September 14, at 8:30 a.m. Pacific time/11:30 a.m. Eastern time.



To join the call dial: toll free in North America 1-877-667-7774
International +1-416-695-6120
Instant replay number: toll free in North America 1-866-518-1010
International +1-416-695-5275
(available until September 27, 2005)


The technical data in this release was prepared by or under the supervision of Robert D. McNeil, CEO of New Guinea Gold Corporation. Mr McNeil has an MSc in Geology, 44 years mining industry experience, is a Fellow of the Australian Institute of Mining and Metallurgy, and meets the requirements of NI 43-101 for a qualified person. For further information contact Forbes West (888-655-5532) or Judith O'Quinn (604-6623588)

ON BEHALF OF THE BOARD

"R.D.McNeil"

CHAIRMAN & CEO

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.

The TSX Venture Exchange has not reviewed and does not accept the responsibility of the adequacy or accuracy of this release.

Contact Information

  • The Sherbourne Group
    Forbes West
    888-655-5532
    or
    New Guinea Gold Corporation
    Judith O'Quinn
    604-662-3588