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Sorowar Drilling Program-Simberi Oxide Gold Project
September 23, 2004
TORONTO, Sep 23, 2004 (BUSINESS WIRE)
(Simberi Mining Joint Venture ("SMJV") - Nord Pacific Ltd. 50%/Simberi Gold Corporation 50%)
Simberi Gold Corporation (TSX-V:SAU) - Simberi Gold Corporation ("Simberi") is pleased to announce additional results from the drilling program recently completed at the Sorowar deposit SMJV on Simberi Island, Papua New Guinea. The results outlined below continue to evidence mineralization lying outside the boundaries of the proposed Sorowar pit defined by previous drilling.
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Drill Easting Northing Dip/ Interval Intersection Mineralization
hole (mE) (mN) Azimuth (m) (m@g/tAu) Type
local local (degree)
grid grid local
grid
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(a)RC881 301 1721 vertical 0-101(eoh) 101 @ 1.40 oxide 0-92
sulphide 92-101
including 0-31 31 @ 2.84 oxide
38-77 39 @ 1.14 oxide
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(a)RC882 147 1449 -60/090 0-50(eoh) 50 @ 0.69 oxide
including 8-17 9 @ 2.01 oxide
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(a)RC883 181 1428 -60/090 0-50(eoh) 50 @ 0.64 oxide 0-13
sulphide 13-50
including 0-17 17 @ 1.35 oxide 0-13
sulphide 13-17
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(a)RC884 175 1389 -60/090 0-130(eoh) 130 @ 0.78 oxide 0-90
sulphide 90-130
including 5-50 45 @ 1.69 oxide
including 60-66 6 @ 2.62 oxide
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(a)RC885 273 1334 -60/090 0-100(eoh) 100 @ 0.47 oxide 0-91
sulphide 91-100
including 35-52 17 @ 2.05 oxide
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(a)RC886 204 1195 -60/090 0-120(eoh) 120 @ 1.73 oxide with
minor sulphide
including 76-120 44 @ 3.84 oxide
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(a)RC887 205 1233 -60/090 0-100(eoh) 100 @ 2.10 oxide 0-77
sulphide 77-100
including 12-91 79 @ 2.47 oxide 12-77
sulphide 77-91
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(a)RC888 176 1269 060/090 0-100(eoh) 100 @ 4.06 oxide 0-24,
31-100
including 38-77 39 @ 9.81 sulphide 24-31
oxide
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(a)RC889 148 1313 -60/090 0-60(eoh) 60 @ 0.59 oxide 0-15,
20-60
sulphide 15-20
including 9-14 5 @ 1.64 oxide
including 29-42 13 @ 1.21 oxide
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RC892 301 1367 -60/090 0-46 46 @ 0.73 oxide 0-46
including 2031 29 @ 1.06 oxide
including 3-25 22 @ 1.21 oxide
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RC893 280 1332 -60/090
including 21-27 6 @ 4.10 oxide
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RC894 365 1220 -60/090 0-43 43 @ 1.41 oxide 0-13,
18-43
including 18-41 23 @ 2.35 oxide
including 30-40 10 @ 2.92 oxide
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RC901 203 1374 -60/090
including 0-10 10 @ 2.51 oxide
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RC902 231 1609 -60/090 0-80(eoh) 80 @ 1.29 oxide 0-78
sulphide 78-80
including 0-39 39 @ 2.30 oxide
including 16-29 13 @ 4.47 oxide
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RC903 425 1731 -60/090 0-100(eoh) 100 @ 0.56 oxide
including 0-25 25 @ 1.06 oxide
including 0-8 8 @ 1.71 oxide
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RC907 465 1693 -60/090 0-80(eoh) 80 @ 0.83 oxide 0-80
including 39-67 28 @ 1.76 oxide
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RC908 507 1681 -60/090 0-73 73 @ 2.19 oxide 0-73
including 24-73 49 @ 3.00 oxide
including 24-39 15 @ 4.78 oxide
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(a) Denotes previously released results.
The Simberi Island project was subject to a positive feasibility study completed by Lycopodium Pty Ltd. The current drilling program was undertaken to outline the extent of mineralized zones not incorporated into the Sorowar deposit. The partners on the SMJV project are currently pursuing production financing.
The drilling program is being managed by Ross Hastings, the Qualified Person, under the Australian JORC.
This press release includes certain "Forward-Looking Statements" within the meaning of the US Private Securities Reform Act of 1995. Other than statements of historical fact, all statements are "Forward-Looking Statements" that involve such various known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove accurate. Results and future events could differ materially from those anticipated in such statements. Readers of this press release are cautioned not to place undue reliance on these "Forward-Looking Statements". All dollar amounts are Canadian dollars unless otherwise noted.
The TSX Venture Exchange Inc. has neither approved nor disapproved the information herein contained.
Simberi Gold Corporation (TSX VENTURE:SAU)
SOURCE: Simberi Gold Corporation
Simberi Gold Corporation Jim Voisin (519) 699-5352 www.simberigold.com
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