New Dimension Samples 8.32 g/t Gold at Lansing Project, Yukon Substantially Increases Yukon Land Position at the Lance and Liam Properties
Substantially Increases Yukon Land Position at the Lance and Liam Properties
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 08/30/11 -- New Dimension Resources Ltd. (TSX VENTURE: NDR) (the 'Company' or 'New Dimension') is pleased to report the results of its Phase I field evaluation of 12 properties under option from Strategic Metals Ltd. ('Strategic Metals'), that comprise the Lansing Project ('Lansing'), located in Yukon and the Gild Project ('Gild'), located in NWT. Highlights of the Phase I evaluation include two strongly anomalous soil samples which returned 8.32 g/t gold and 2.50 g/t gold from the Lance Property within the Lansing Project.
LANSING PROJECT:
Of the 12 properties evaluated, 11 of these comprise the Lansing Project and are located within the prospective Tombstone Gold Belt in central Yukon. The project area lies 30 to 110 kilometres south of ATAC Resources Ltd.'s large Rau property (which is within the Rackla Gold Belt), and cover areas anomalous in any or all gold, silver, copper, lead, zinc, antimony, bismuth and arsenic as defined by regional Geological Survey of Canada stream sediment surveys. To view a map showing the location of the project please click on the following link:
In June this year, field crews led by consultants, Archer, Cathro & Associates conducted Phase I reconnaissance programs on each of the 11 properties. During the initial program, 526 samples were collected with encouraging results obtained from 7 of the 11 properties. Based on these initial results an additional 360 claims have been staked, increasing the total size of the project to 770 claims covering more than 150 square kilometers. To further investigate these positive results, field crews have now completed a follow up Phase II exploration program with focus on the Lance and Liam Properties. Results from the Phase II program are pending and will be released when available.
Lance Property (Lansing Project):
At the Lance Property, strongly elevated gold, arsenic, bismuth and tungsten soil values outline four target areas distributed over approximately 2 kilometres, as described below:
-- The first target comprises a cluster of three strongly anomalous soil
samples, including the two highest gold values on the property being
8.32 and 2.50 g/t gold, respectively. Follow up prospecting of the
anomalous gold-in-soil sites in this area did not reveal any obvious
source for the elevated results. The sampled sites lie along a ridge
crest that is cut by at least three broad sub-parallel gullies which
could mark mineralized structures.
-- The second target consists of a single strongly elevated gold-in-soil
value of 261 ppb gold, which lies immediately downslope from an
arsenopyrite-rich quartz vein that is only locally exposed through
cover.
-- The third target is defined by a gold-in-soil value of 337 ppb gold.
Prospecting in the area of the sample revealed a relatively large,
cliffy, quartz stockwork zone within a grainy, siliceous clastic unit.
-- The fourth target comprises a high gold-in-soil value of 1.4 g/t. The
target lies below tree-line in an area with extensive moss cover.
Prospecting in the immediate vicinity of the sample revealed intrusive
talus with locally hornfelsed meta sediments. All four of the gold
targets are supported by strong arsenic and antimony values. This target
is distinguished from the other three by accompanying strongly elevated
tungsten values.
On the basis of the promising gold results obtained to date from the soil samples, additional staking has been completed by the Company. Further exploration on the Lance property has included: additional closely spaced (100 x 50m) grid and contour soil sampling in areas that are known to contain elevated metal values; reconnaissance-scale contour soil sampling and stream sampling on the ground covered by the newly staked claims; and detailed prospecting and mapping within anomalous areas.
Liam Property (Lansing Project):
At the Liam Property, an approximate, 2,000 by 1,500 metre arsenic and gold-in-soil anomaly was defined during initial exploration. Values for gold and arsenic-in-soil and silt that make up the anomaly range from 10 to 81 ppb gold and 50 to 5990 ppm arsenic. Based on these positive initial geochemical results, additional contiguous claims were staked. To further assess the area, 96 stream sediment and contour soil samples were collected during Phase II follow-up work. These samples were positioned uphill from the known arsenic-gold anomaly and in an area that had not previously been explored. Exploration in the vicinity of the elevated arsenic and gold-in-soil values has revealed a zone of arsenopyrite-bearing veins and skarn horizons with the arsenopyrite varying from disseminated to semi-massive. To determine the full extent of this zone will require additional field work; however, to date mineralization has been traced along a 55 metre strike length. The arsenopyrite mineralization lies on a steep slope, approximately 500 metres uphill of the nearest anomalous soil sample sites.
Additional follow up prospecting and contour soil sampling has also been completed on five other properties within the Lansing Project, with these Phase II results pending.
GILD PROJECT:
At the Gild Project located in NWT, initial rock sampling yielded elevated results for silver, lead and zinc, but no anomalous gold values were reported. Results from a soil sampling program are still outstanding and future work on the project will be contingent on these results.
About the Lansing and Gild Projects
New Dimension has an option to earn up to a 100% interest in 12 properties consisting of the Lansing and Gild Projects. The Properties were originally staked by Strategic Metals Ltd. ('Strategic Metals') following an extensive review of a geological data base compiled by Archer, Cathro & Associates, an independent group of consulting geological engineers and geoscientists with extensive exploration experience in the Yukon. Strategic Metals acquired the Properties with the objective of identifying targets similar to discoveries found on ATAC Resources' Rackla gold project; where a 40,000 metre drill program is currently underway. The Rau Property, located 110 kilometres to the west of the Gild Project and 30 to 110 kilometres north of the Lansing Project, has returned exceptional drill results including 65.20 metres of 4.65 g/t gold and 21.13 metres of 8.01 g/t gold on the Osiris and Conrad zones, respectively.
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 statements of belief of similarity of geological characteristics or features, statements of unverified drilling and sampling results and expectations of receipt of permits and plans for future work. Forward looking statements involve 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, unexpected geological factors, exploration results, results of verification work and unanticipated regulatory obstacles. 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 or Chris Curran
(604)687-7545 or (888)338-2200
info@northair.com
www.newdimensionresources.com