New Dimension Reports Further Anomalous Gold Values at Cenepa Gold Project, Peru
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 10/22/10 -- New Dimension Resources Ltd. (TSX VENTURE: NDR) (the 'Company' or 'New Dimension') is pleased to report that the prospecting program recently completed by Minera NDR Peru ('NDR Peru') on its Cenepa concessions, has returned positive gold values from stream sediment sampling. During the three week work program conducted in late August, three field crews collected 32 stream sediment samples and 19 rock chip samples on the property as a follow up to a very positive initial program completed in April.
'We are extremely pleased that our crews were successful in obtaining further significant gold values from the Cenepa gold project,' said Fred Hewett, President & CEO of New Dimension. 'Results of the prospecting and sampling program have greatly increased the Company's understanding of the property's geology and will assist in planning for a much more aggressive future program.'
Stream Sediment Sampling
Results of the stream sediment sampling identified three gold anomalies with values greater than 400 ppb.
Two gold anomalies are associated with dacite intrusive rocks near a contact with carbonate rocks and are located 5 kilometres apart, in the southern and west central portion of the property. The southern anomaly ('Anomaly #1') consists of two anomalous values (118 and 518 ppb gold) in consecutive samples, immediately downstream from a two kilometres long exposure of dacite intrusive rock. These gold values are closely associated with anomalous zinc (greater than 400 ppm) values.
The northern anomaly ('Anomaly 2'), consisting of an anomalous value of 540 ppb gold, is also associated with dacite intrusive rocks in contact with carbonate rocks. Surrounding this sample are several others that returned moderately anomalous amounts of zinc (greater than 225 ppm) over an area approximately 1.0 by 1.5 kilometres in dimension. A strong barium anomaly of 1,060 ppm occurs 1.5 kilometre downstream from the high gold sample. This area is to the west of the anomalous gold values reported in the NDR press release dated May 6, 2010.
A third anomaly ('Anomaly #3') consisting of a 445 ppb gold value is associated with a zone of conglomerate that may be the product of paleoplacer horizon.
Please click on the following link to view a map showing the sample locations: http://www.newdimensionresources.com/i/maps/cenepa/2010-10-18_Rock_&_Stream_Sample_Au.jpg
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STREAM SEDIMENT SAMPLES
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Sample Drainage Gold Sample Drainage Gold
Number Anomaly No. (ppb) Number Anomaly No. (ppb)
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7906 #2 3 62 7932 2 27
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7907 #2 3 540 7933 #3 2 44
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7908 3 19 7934 3 5
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7909 3 10 7935 4 3
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7912 3 1 7936 3 1
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7916 1 3 7937 3 4
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7917 #1 1 118 7938 3 1
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7918 #1 1 518 7939 3 2
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7919 1 5 7940 3 1
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7923 4 6 7942 #3 2 445
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7924 4 2 7945 #3 2 49
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7927 4 1 7946 3 1
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7928 4 1 7948 3 1
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7929 4 1 7950 3 1
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7930 4 1 7952 3 1
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7931 2 13 7955 1 1
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Rock Chip Sampling and Geological Mapping
'Geological mapping and sampling during this program identified andesite volcanic rocks and an overlying conglomerate formation that appear to be similar to the host rocks of the Fruta del Norte deposit located along a north, north-west structural trend 10 kilometres north of the property in Ecuador,' said Steven Park, a Consulting Geologist for the Company.
'As well altered dacite intrusive rocks found on the property appear similar to the Chinapintza Intrusive Complex that host epithermal gold/silver and porphyry copper/gold mineralization in northern Peru. The presence of these intrusive rocks in contact with carbonates of the Pucara Group is highly prospective for the creation of gold skarn mineralization along the linear extent of the contact through the property. The Pucara Group is host to many significant mineral deposits in northern Peru and southern Ecuador.'
Nineteen rock samples collected during the program returned background values in gold and pathfinder elements.
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 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, respectively. Kinross currently has four 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.
Quality Control
The stream sediment samples were transported from the field and prepped for analysis in ALS Chemex Lab in Lima, Peru by sieving each sample to a -80 mesh (180 micron). Both fractions were retained; the fine fraction was analyzed using FA with AA finish for Au analysis and aqua regia digestion and ICP-AES analysis for a suite of 35 elements. Rock chip samples were analyzed using FA with AA finish for Au analysis and aqua regia digestion and ICP-AES analysis for a suite of 35 elements.
The program was conducted under the supervision and direction of consulting geologist Steven Park M. Sc., CPG who has submitted a detailed report to the Company. New Dimension is currently reviewing the data from the program and is developing plans for the next stage of exploration.
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.
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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