Dec 23 2010
NSGold Corporation (NSX:TSXV) has reported additional assay results from the recently completed Phase 1 drilling campaign at its Mooseland Gold Project in Halifax County, Nova Scotia.
Significant intercepts of quartz structures known to be gold bearing have been encountered throughout the drilling program.
The most significant gold intercept in terms of grade and width occurred in hole NSG 5-10 with 26.97 grams per tonne over a width of 3.7 meters. This intercept occurs in a section of core from 103.3 meters to 107.0 meters, a zone which includes favorable quartz structures with both anomalous and higher grade intercepts.
Assay results have now been received for holes NSG 3-10, NSG 5-10, NSG 6-10 and NSG 7-10. The highest assay result was 122.9 grams per tonne of gold over 0.5 meters in hole NSG 3-10. A total of 7 samples assayed in excess of 10 grams per tonne gold and 28 samples assayed in excess of 1 gram per tonne gold. Assay results for holes NSG 1-10 and NSG 2-10, as well as partial results for hole NSG 3-10, were previously announced in the Company's press release dated November 18, 2010.
Anomalous values of gold in favorable quartz structures and sulfides assaying between 0.1 and 1.0 grams per tonne have been encountered throughout the drill holes. Some of these anomalous zones accompany structures where higher gold values are reported, thus increasing the potential for increased mining widths.
Leipsigate Drilling Update
The Company has completed two of three planned drill holes at its wholly owned Leipsigate gold property located in Lunenburg County, Nova Scotia, approximately 120 km west of Halifax. The third drill hole is expected to be completed later this week.
Qualified Person
Perry MacKinnon P. Geo., Chief Geologist for NSGold, a qualified person as defined by National Instrument 43-101, has reviewed and approved the information provided in this news release.
Source: NSGold Corporation