Advertisement
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/12/13 -- PNG Gold Corporation ("PNG Gold" or the "Company") (TSX VENTURE: PGK.V) is pleased to announce gold and silver assay results from 11 diamond drill holes from the Imwauna Main Structure in the Henry Zone area.
Table #1 highlights the assay results of hole IMH-275, which contain highly prospective gold grades that are typical of low sulphidation epithermal deposits and are known to occur along the Imwauna Main Structure based on previous drilling programs. Drilling is continuing along two of five known areas along the Imwauna Main Structure that host similar grades. Since November 2012, the company has drilled 48 diamond drill holes for a total of 11,394 metres at the Imwauna Main Structure. Only partial assay results have been received for several of the holes as noted in Table # 2.
Highlighted Hole
Table #1
----------------------------------------------------------------------------Hole From To Length Gold Silver ------------------------------------------------------------------Number (metres) (metres) (metres) (g/t) (g/t)----------------------------------------------------------------------------IMH275 185.50 190.70 5.20 29.35 +41.27---------------------------------------------------------------------------- including 185.50 187.70 2.20 66.97 +71.45---------------------------------------------------------------------------- and 185.50 186.00 0.50 140.00 greater than 100----------------------------------------------------------------------------
Silver assays are still pending for this hole.
Imwauna Main Structure - Key Points
-- Hosts low sulphidation epithermal gold/silver mineralization.-- Highly prospective gold/silver mineralization contained in hydraulically brecciated quartz veins.-- Drilling has now tested the Imwauna Main Structure below 250 metres from surface.-- Continuity of the Imwauna Structure remains strong.-- Mineralization appears to be plunging moderate to steeply south shoots as predicted.-- Drilling to date has only tested two of several known highly prospective shoots.-- Two diamond drills continue to drill test along the structure and to depth.-- Assay results pending on approximately 30 drill holes.
Drill hole orientation and PIMA surveys of the alteration and mineralization of the Imwauna Structure assist in determining each zone's orientation and theoretical level of the epithermal mineralization. There are indications that the Imwauna Structure's mineralization may also be exploiting low angle structures closely related to bedding orientation.
Assay results received are as follows:
Table # 2
----------------------------------------------------------------------------Hole From To Length Gold Silver Comments -------------------------------------------------------------------Number (metres) (metres) (metres) (g/t) (g/t)----------------------------------------------------------------------------IMH263 43.00 43.80 0.80 0.09 4.00----------------------------------------------------------------------------IMH264 60.00 63.00 3.00 3.60 +32.20 Silver assays pending----------------------------------------------------------------------------including 62.00 62.50 0.50 9.22 greater Silver assays pending than 100----------------------------------------------------------------------------IMH265 72.00 80.00 8.00 1.40 8.38----------------------------------------------------------------------------including 72.00 75.14 3.14 2.14 10.10----------------------------------------------------------------------------and 72.00 73.00 1.00 4.37 8.00----------------------------------------------------------------------------IMH266 186.30 188.50 2.20 1.59 2.00----------------------------------------------------------------------------IMH267 135.55 136.05 0.50 0.08 14.00----------------------------------------------------------------------------and 144.80 145.60 0.80 1.39 5.00----------------------------------------------------------------------------IMH268 149.30 154.05 4.75 4.46 10.68----------------------------------------------------------------------------including 150.00 151.30 1.30 11.90 16.00----------------------------------------------------------------------------IMH269 211.00 212.50 1.50 2.18 2.00----------------------------------------------------------------------------IMH270 172.50 174.35 1.85 2.83 5.68----------------------------------------------------------------------------Including 172.50 173.00 0.50 8.34 14.00----------------------------------------------------------------------------IMH271 226.90 229.00 2.10 6.56 5.62----------------------------------------------------------------------------IMH272 194.50 195.00 0.50 187.00 greater Assays still pending than 100 for most of the zone.----------------------------------------------------------------------------IMH275 185.50 190.70 5.20 29.35 +41.27 Silver assays pending----------------------------------------------------------------------------including 185.50 187.70 2.20 66.97 +71.45 Silver assays pending----------------------------------------------------------------------------and 185.50 186.00 0.50 140.00 greater Silver assays pending than 100----------------------------------------------------------------------------
