New Dimension Receives Title Confirmation at Cenepa Gold Project, Peru Planning for Exploration Program Underway
Planning for Exploration Program Underway
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 08/04/10 -- New Dimension Resources Ltd. (TSX VENTURE: NDR) (the 'Company' or 'New Dimension') is pleased to provide an update on the Cenepa gold project, which covers one of the most attractive geological terrains in northern Peru and adjacent to the Kinross Gold Corp. ('Kinross') Condor Project and Fruta Del Norte gold deposit in Ecuador (please click to view map, http://www.newdimensionresources.com/i/maps/Cenepa/2010-01-05_Geology.jpg).
The Company has been notified by its Peruvian legal council that title confirmation has been received for an additional Cenepa concession. Minera NDR Peru S.A.C. ('NDR Peru') now holds title to seven key concessions with title for the remaining three original concessions anticipated shortly. New Dimension has also been advised by its Peruvian legal council that the three remaining concessions, staked by NDR and currently awaiting title, have received a favourable opinion from the necessary respective government departments. This is considered to be the final step in the process of granting full title to the concessions. In addition to the original concessions, NDR Peru has also applied for title to approximately 900 hectares in the immediate area.
'I am very pleased with our success in obtaining title to the addition concession and expect title to the final three concessions to follow shortly', said Fred Hewett, President and CEO of New Dimension. 'Management believes that its land position, bordering the Kinross Fruta del Norte deposit in Ecuador and only five kilometres from one of their significant gold occurrences, is one of the most promising for discovery of mineralization on trend and proximal to their Condor Project. New Dimension looks forward to advancing the Cenepa gold project.'
NDR Peru is finalizing plans for an upcoming exploration program at Cenepa. The Company expects to initiate exploration activities on the property shortly.
About the Cenepa Gold Project
The Cenepa Project totals over 9,000 hectares in northern Peru along its border with Ecuador. The property, staked by NDR Peru commencing in 2006, cover the projection of a 20 kilometre long north-south trending mineral belt that includes Kinross' Condor Project and the Fruta del Norte gold discovery.
The Condor Project is situated in Ecuador near the Peruvian border and was acquired by Kinross in September 2008 through the $1.2 billion dollar acquisition of Aurelian Resources Inc. The Kinross property includes a NI 43-101 compliant Inferred Mineral Resource at Fruta del Norte consisting of 58.9 million tonnes grading 7.2 g/t gold and 11.8 g/t silver containing 13.7 million ounces of gold and 22.4 million ounces of silver. Kinross currently has 4 drill rigs active on the project and have stated they intend to complete a pre-feasibility study in 2010.
Also within the Condor Project is the Aquas Mesas Sur prospect, which includes an announced drill intercept of 51.06 g/t gold over 9.2 metres. This prospect is the southern-most known gold occurrence within this newly emerging gold belt and is located only five kilometers north, and on trend with, NDR Peru's Cenepa concessions. Although there has been very limited work in Peru where the mineral trend crosses the border, the Company believes the area is geologically highly permissive for the discovery of significant gold deposits.
The technical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in National Instrument 43-101 and reviewed by Fred Hewett the Company's President & CEO, a director and a Qualified Person under NI 43-101
ON BEHALF OF THE BOARD
NEW DIMENSION RESOURCES LTD.
Fred G. Hewett, P.Eng., President & CEO
This news release may contain forward looking statements which are not historical facts, such as ore reserve estimates, anticipated production or results, sales, revenues, costs, or discussions of goals and exploration results, and involves a number of risks and uncertainties that could cause actual results to differ materially from those projected. These risks and uncertainties include, but are not limited to, metal price volatility, volatility of metals production, project development, ore reserve estimates, future anticipated reserves and cost engineering estimate risks, geological factors and exploration results. See New Dimension's filings for a more detailed discussion of factors that may impact expected results.
This news release does not constitute an offer to sell or solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the 'U.S. Securities Act') or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Contacts:
New Dimension Resources Ltd.
Fred Hewett
(604) 687-7545 or (888) 338-2200
New Dimension Resources Ltd.
Chris Curran
(604) 687-7545 or (888) 338-2200
info@northair.com
www.newdimensionresources.com