New Dimension Receives Additional Title Confirmation at Cenepa Gold Project, Peru
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 10/18/10 -- New Dimension Resources Ltd. (TSX VENTURE: NDR) (the 'Company' or 'New Dimension') is pleased to report it has been notified by its Peruvian legal counsel that final title confirmation has been received by Minera NDR Peru S.A.C. ('NDR Peru') for a 963 hectare concession as part of the Cenepa gold project ('the Property'), located in northern Peru, and adjacent to the Kinross Gold Corp. ('Kinross') Condor Project and Fruta Del Norte gold deposit in Ecuador (click to view map: http://www.newdimensionresources.com/i/maps/Cenepa/2010-01-05_Geology.jpg). NDR Peru now holds title to eight key concessions and anticipates final title for the remaining two original concessions shortly.
NDR Peru is currently reviewing data complied from its most recent exploration program at Cenepa. The program focused on geological mapping, prospecting, rock and stream sediment sampling and was successful in providing the Company with additional geological information that will aid in the identification and prioritization of potential drill targets on the Property. Results of the program will be released as they become available.
About the Cenepa Gold Project
The Property totals over 9,000 hectares in northern Peru along its border with Ecuador and covers the southern projection of a 20 kilometre long north-south trending mineral belt that includes Kinross' Condor Project and the Fruta del Norte gold discovery (click to view map: http://www.newdimensionresources.com/i/maps/Cenepa/2010-01-05_Geology.jpg).
The Condor Project, situated in Ecuador, near the Peruvian border, was acquired by Kinross in September 2008 and hosts a NI 43-101 compliant Inferred Mineral Resource at the Fruta del Norte deposit of 13.7 million ounces of gold. 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 Kinross' Condor Project is the Aquas Mesas Sur prospect, which includes an announced drill intercept of 51.1 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 Property.
Although there has been very limited exploration in Peru where the Condor Project mineral trend crosses the border, the Company believes the Property is geologically highly prospective 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 anticipated mineral title grants, resource estimates, or discussions of goals, potential mineralization 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, the risk mineral title to additional concessions may not be granted, assumptions underlying resource estimates not being realized, , geological factors and exploration results that do not reflect the prospectivity of the concessions. 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
(604) 689-5041 (FAX)
info@northair.com
www.newdimensionresources.com