NGG & AUN Two favorites with great news.
New Guinea Gold Corporation: New Guinea Gold Pours 1,060 ozs of Gold in May 2008
- New Guinea Gold Corporation (TSX VENTURE:NGG)(FRANKFURT:NG8) - - New Guinea Gold (NGG) poured and sold 1,060 ozs of gold and 117 ozs of silver in May 2008 at the Sinivit Project in Papua New Guinea. - At the end of May approximately 30,000 tonnes of ore at a grade of between 5 and 6g/t gold was leaching in Vats at Sinivit. - NGG expects to have 50,000 tonnes leaching at the end of June 2008. Bob McNeil CEO and Chairman noted: 'May was our first significant month of gold production for Sinivit and all aspects of the project are on schedule to increase production in June to 1,500/2,000 ozs, and in July to 2,000/2,500 ozs. We expect to add approximately 20,000 tonnes of ore per month to the vats in each month in the future to reach our target production rate of 35,000 ounces annually. 'In addition to our progress at Sinivit, the new resource estimate for the Imwauna Project, at the Normanby Property is still on schedule for release in mid June. Drilling is continuing at both the Sinivit and Imwauna Projects. NGG's 45% owned, and associate company Coppermoly Ltd, is also drilling ahead at its Simuku copper, gold, molybdenum system and has commenced exploration at its Mt Nakru copper, gold molybdenum property. Excavator trenching has also commenced at Pacific Kanon Gold's (presently 50% owned by NGG and 50% by Vangold) Fergusson property. An update on the status of the Pacific Kanon Gold IPO will be issued in the near future'. NGG is beginning its annual Investor Relations Roadshow. RD McNeil will be meeting current and prospective investors in London, June 3-6, in Toronto June 9 and 10th, and in Vancouver form June 11 to 18th. The TSX Venture Exchange has not reviewed and does not accept the responsibility of the adequacy of this release.
AI
