New Dimension Receives Last Original Title Confirmation at Cenepa Gold Project, Peru
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/04/11 -- New Dimension Resources Ltd. (TSX VENTURE: NDR) (the 'Company' or 'New Dimension') is pleased to report that title confirmation has been received by Minera NDR Peru S.A.C. ('NDR Peru') for the last original concession within the Company's Cenepa gold project ('the Property'), located in northern Peru.
'I am very pleased with our success in obtaining title to the last original concession which was staked in 2006,' said Fred Hewett, President and CEO of New Dimension. 'Now that the Company has received titles to all ten original concessions we can focus on advancing the Cenepa gold project, which represents a significant land position where mineralization as seen at Kinross' Condor Project in Ecuador, projects across the border into Peru. Management believes the potential for discovery here is significant.'
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.
The Condor Project, situated in Ecuador adjacent to 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 has stated they intend to complete a pre-feasibility study shortly and expect to complete a full feasibility study within the first half of 2011.
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 emerging gold belt and is located only five kilometres north, and on trend with, NDR Peru's Property (http://media3.marketwire.com/docs/ndr-cenepa.jpg).
To date there has been very limited exploration in Peru in the area where the Condor Project mineral trend crosses the border. However based on the known trend of mineralization, a similar geologic environment and field results, the Company believes the Property is highly prospective for new discoveries. During the past year, NDR Peru completed two successful prospecting programs on its Cenepa concessions, which returned positive gold values from stream sediment sampling and outlined three gold anomalies with values greater than 400 ppb (http://www.newdimensionresources.com/i/maps/cenepa/2010-10-18_Rock_&_Stream_Sample_Au.jpg).
About New Dimension Resources
New Dimension is engaged in the acquisition, exploration and development of quality mineral resource properties throughout the Americas with a focus on significant bulk tonnage gold and silver deposits. In addition to its 100% owned Cenepa gold project, New Dimension has an option to earn a 100% interest in Strategic Metals' Gild gold property within a geological belt that the Company & Strategic Metals believes has similar characteristics to discoveries by ATAC Resources Ltd. in the Yukon (http://media3.marketwire.com/docs/ndr-gild.pdf). Drilling on the ATAC Property has returned significant gold values, as demonstrated by announced intercepts of 9.25 g/t gold over 31.1 metres and 24.07 g/t gold over 28.4 metres from over 25,000 metres of diamond drilling in excess of 130 holes. An initial exploration program is anticipated by the Company as soon as spring weather conditions allow. Subject to favourable results from this initial program and the receipt of all necessary permits, a drill program is likely to be carried out in the fall of 2011.
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