Published:
New World Gold Corp. Begins Mining Grid on US Leases
New World Gold Corporation (PINKSHEETS: NWGC) wishes to announce that it has hired a survey company to establish a
mining grid to begin gold production on its US gold leases. The gold
reserves on the leases have been verified using in-house geological staff
and independent mining specialists, historical geological data and random
sampling programs. The independent random sampling program combined with
the historical geologic data have established a pervasive nature of the
gold and sapphires on the leases. While the mining grid is being
established, the Company is finalizing mining protocols, and set up of
equipment to begin production as soon as the grid is established. The
Company is confident that based on existing data that there are significant
proven developed gold reserves to justify immediate mining start up.
Production on the leases is anticipated to start in late 2009 or early
2010.
New World Gold Corporation is an exploration company focused on exploration
and development of gold prospects. The Company is continuing to expand its
leases and proven gold reserves. With the current price of gold over $1000
per oz, it means that gold leases that were previously marginal now become
economical. The Company is currently examining many additional leases with
the intention of increasing its proven reserves. The Company's corporate
strategy involves a long term result orientated approach to exploration and
development.
New World Gold Corporation trades in the United States on the NQB Pink
Sheets under the symbol "NWGC". For further information, please contact the
Company at (561) 393 2773.
NOTE: Certain statements in this press release are "forward-looking
statements" within the meaning of the Private Securities Act of 1995. Such
statements involve known and unknown risks, uncertainties and other factors
that may cause results to differ materially. Such risks, uncertainties and
other factors include but are not limited to new economic conditions and
factors described in independent reports, company reports and other filings
with regulatory bodies.
Copyright © 2009, MarketWire
Copyright © 2009, NewsBlaze,
Daily NewsTags: ,Manufacturing and Production:MiningandMetals, ,INTHPINK,INTHPINK,FL,BOCA RATON, FL
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