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Nuukfjord Gold intersects 28.75m of 6.74 g/t gold in initial drilling



August 12, 2010

Nuukfjord Gold intersects 28.75m of 6.37 g/t gold in initial drilling

Including 10.0m of 15.02 g/t gold

Nuukfjord Gold Ltd (August 12, 2010) Vancouver, British Columbia - is pleased to announce initial drill results for the Nuukfjord Gold Project in Greenland. 

Highlight drill results are summarized in the table below.

Phase 1 Highlight Storø Diamond Drill Results

DDH

From

To

Interval *

Gold

 

meter

meter

meter

gpt

51

83.00

86.55

3.55

0.64

 

98.00

99.46

1.46

1.43

52 

57.60

60.82

3.22

7.65

including

60.00

60.82

0.82

10.40

 

66.28

66.90

0.62

8.92

 

148.00

151.00

3.00

3.49

53

133.50

135.32

1.82

7.79

including

134.35

135.32

0.97

13.10

54

22.25

51.00

28.75

6.37 

including

39.00

49.00

10.00

15.02

And

31.00

32.00

1.00

11.50

And

40.00

41.00

1.00

87.50

And

46.00

47.00

1.00

38.70

 

134.50

136.00

1.50

6.38

57

25.78

32.00

6.22

0.99

including

25.78

29.50

3.72

1.26

58

35.00

35.70

0.70

5.16

60

30.00

31.50

1.50

1.80

61

45.62

50.00

4.38

2.30

including

45.62

47.00

1.38

4.47

* Interval lengths are not true widths.

A total of 15 diamond drill holes have been completed for a total of 2,225 meters from nine pad locations. Five holes targeted the BD Zone and ten targeted the Main Zone (& also the underlying BD Zone). A drill plan map is available on the company website illustrating hole locations and individual hole details.

Recent Storø surface mapping and geological review by Nuukfjord have expanded on earlier structural interpretations revealing that gold bearing quartz veins, along with essential sulphide mineralization, are bound within a structural corridor defined by the axial plane of a broad anticline which plunges -45 degrees to the east-northeast (about 065 degrees). Holes 62 to 65 tested the east-northeastward extension of the Main and BD Zones, while holes 57 to 61 were collared below the Qingaaq mountain ridge top investigating the down dip extension of known surface BD Zone gold mineralization. Drill hole 54 is an infill hole and was collared within the of the central portion of the Main Zone; earlier historical drill results within this immediate area are also highly anomalous in gold.  Holes 55, 56, 59, and 62 to 65 yielded generally narrow intervals of weakly anomalous gold values.

All holes were drilled westerly, with dips ranging from -45 to -78 degrees; holes 54 and 61 were drilled vertically. Average hole depth is 148 meters, with the maximum hole depth of 220 meters.

Regional work, focussed on multiple other areas within the Nuukfjord Gold Province has been ongoing and initial analytical results from that work are expected soon.

Michael Moore, PGeo, is the qualified person who has reviewed the technical information contained in this news release on behalf of the Company. 

Core samples were collected under the supervision of Michael Moore, P.Geo. BTW diameter diamond core was descriptively logged on site, aligned, marked for sampling and then split in half, longitudinally, using a hydraulic splitter. One-half of the core is preserved on site in core boxes for verification and future reference. The samples comprising the other half of the core were bagged, sealed and delivered directly to the analytical laboratory. Samples were delivered to ActLabs Greenland, which follows the protocol for ISO 17025 with all data reviewed by ISO 17025 accredited Activation Labs in Ancaster, Canada. The core samples were dried, crushed and pulped. Samples were crushed (90%) to approximately minus 10 mesh and split using a riffle splitter. An approximately 250 gram sub-sample split was pulverized using a ringmill to approximately minus 140 mesh. A 30.0 gram split from the resulting pulp was then analyzed for gold by fire assay with an ICP-OES finish. Gold results exceeding 10.0 gpt were re-run, where a subsequent 30.0 gram split was subjected to fire assay and a gravimetric finish. Select samples which contained visible gold were subjected to a 500 gram metallic screen fire assay analysis. All coarse rejects and pulps are currently stored at Actlabs Greenland. An estimated total of 4% assay standards and 4% blanks were inserted into sample shipments as a quality control measure in addition to the internal quality control measures applied by the laboratory. 

ON BEHALF OF THE BOARD

“Aaron Keay”

President, CEO and Director

Aaron Keay

President, CEO and Director

604.681.5672

aaron@nuukfjord.com

Dylan Berg

Manager, Investor Relations

604.616.1182

dylan@nuukfjord.com

Forward-Looking Statements: This Nuukfjord Gold News Release may contain certain "forward-looking" statements and information relating to Nuukfjord which are based on the beliefs of Nuukfjord management, as well as assumptions made by and information currently available to Nuukfjord management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations, exploration and development risks, expenditure and financing requirements, title matters, operating hazards, metal prices, political and economic factors, competitive factors, general economic conditions, relationships with vendors and strategic partners, governmental regulation and supervision, seasonality, technological change, industry practices, and one-time events. Should any one or more of these risks or uncertainties materialize or change, or should any underlying assumptions prove incorrect, actual results may vary materially from those described herein.

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