Nord Pacific hits high grade in PNG

Nord Pacific (NPF-T) has intersected more high-grade gold at its prospects on Simberi Island, Papua New Guinea

The best hole at Pigiput, No. P34, returned 5 metres (from 129 to 134 metres grading) grading 140 grams gold per tonne, including 1 metre of 572 grams. The hole also returned other encouraging values, including: * 29 metres (from 8 to 37 metres) grading 1.45 grams;

* 12 metres (from 59 to 71 metres) of 1.1 grams; and

* 24 metres (from 105 to 129 metres) of 1.1 grams.

Hole P34 was drilled 225 metres west of a previously drilled hole that returned 5 metres of 142 grams.

Other holes at Pigiput intercepted lower-grade sulphide mineralization over greater widths, including:

* hole P33, which returned, from a depth of 116 metres, 141 metres grading 1.46 grams;

* hole 798, which returned, from a depth of 137 metres, 52 metres of 2 grams; and

* hole P31, which returned, from a depth of 122 metres, 38 metres of 3.3 grams.

Drilling over the past three months has focused on induced-polarization anomalies covering an area measuring 2 by 4 km on the eastern side of Simberi island. The company is searching for a deep sulphide deposit to add to the island’s known oxide reserves.

The sulphide resource at Pigiput, which is based on previous data, stands at 434,000 tonnes grading 16 grams, equivalent to 223,000 contained ounces.

At its Sorowar prospect, Nord Pacific intercepted oxide mineralization outside the boundaries of the current pit design.

Results were as follows:

* 35 metres (from a depth of 38 metres) grading 5.4 grams, including 5 metres of 21.1 grams, in hole 833;

* 15 metres of 3 grams in hole 824;

* 16 metres of 6 grams in hole 825;

* 16 metres (from a depth of 35 metres) grading 2.7 grams in hole 829; and * 10 metres (from a depth of 55 metres) grading 1.9 grams.

Nord Pacific also hit significant oxide mineralization at a new prospect west of Pigiput. Three holes in that area returned results including: 14 metres (from near surface) of 2 grams in hole 777; 10 metres of 3.7 grams in hole 781; and 37 metres of 2.5 grams in hole 782.

At Bekou, hole BK3 cut 12 metres (from a depth of 66 metres) grading 2.1 grams.

Additional drilling will attempt to delineate known mineralization, as well as test other geophysical anomalies. Three rigs are currently on site.