New Dimension Resources Ltd. (TSX VENTURE: NDR) (the "Company" or
"New Dimension") reports that a 17 drill-hole Phase I Reverse
Circulation drilling program totaling 1,900 metres has been
completed on the Reese River silver project, near Austin in central
Nevada.
The program was designed to test multiple targets within two
priority exploration areas known as New York Canyon and Amador
Canyon. No modern exploration or drilling had previously been
conducted at New York Canyon and only minimal work at Amador
Canyon.
Drilling was funded by International Minerals Corporation (TSX
VENTURE: IMZ), which is earning an initial 60% interest in the
project. The project is managed by New Dimension.
Highlights
The majority of drilling was conducted at New York Canyon where
11 drill-holes totaling 1,383 metres were completed (click here to
view map:
http://media3.marketwire.com/r/NewDimensionNewYorkCanyon).
Highlights of the program include an intersection in RR#6
grading 84.7 g/t silver over 4.6 metres that occurs within a 13.7
metre intercept grading 36.8 g/t silver.
This drill-hole was the only one that successfully reached the
faulted contact between intrusive rocks and the overlying sediment,
which the Company has proposed as the main conduit for New York
Canyon silver mineralization. The mineralized intercept at this
contact strongly supports the importance of this zone as a
favorable ore horizon and further work is warranted (click here to
view RR#6 cross section:
http://media3.marketwire.com/r/NewDimensionRR6CrossSection).
Program Summary
In total, three target areas were drilled at New York
Canyon.
South Zone: Two drill holes (RR#5 and 6) were drilled to target
the South Zone. The drill-hole intercept in RR#6 noted above occurs
in siltstone within a faulted intrusive contact. A previous grab
sample taken by the Company of a small mine dump on this contact
situated 130 metres south of RR#6, reported 1,829 g/t silver and
the hole was successfully positioned to test the continuity of this
contact mineralization. This mineralization dips 20 to 40 degrees
to the north and remains open down dip and on strike to the east
and west. Unfortunately, drill-hole RR#6 was the only hole in the
New York Canyon area that reached the priority contact zone target.
A second hole (RR#5) which was also drilled on the South Zone was
lost prior to hitting the intrusive but did intersect three zones
of anomalous silver mineralization.
South Zone Table
--------------------------------------------------------------------------
Hole Noteworthy Average
Target Drill Hole Depth Results Intercept Grade Ag
Name Number (Metres) From - To (Metres) (Metres) g/t
--------------------------------------------------------------------------
South Zone RR-6 152.4 42.7 to 85.4 42.7 4.33
129.6 to 143.3 13.7 36.8
inc. 4.6 84.7
inc. 1.5 182
RR-5 173.7 7.6 to 13.7 6.1 5.8
48.8 to 62.5 13.7 5.4
101 to 113 12 5.8
--------------------------------------------------------------------------
Central Zone: Seven drill-holes were positioned to test the
potential in the area where the majority of past production from
New York Canyon has been reported.
Five holes (RR#1,8,9,10 and 11) encountered thick intervals with
anomalous silver values and outlined a mineralized zone measuring
approximately 250 long by 100 metres wide and averaging
approximately 65 metres thick. This zone, which averages
approximately 3.1 g/t silver, is elongated northwest, appears to be
fairly flat lying and is open in all directions.
Of the two remaining holes, RR#3 was lost due to drilling
problems and RR#7 hit old mine workings and no samples were
recovered through the projected zone of mineralization.
Results from the Central Zone support the existence of a large
mineralizing system and it remains a high priority to drill through
this anomalous zone to test the underlying intrusive contact which
is the key target at New York Canyon. Because the Central Zone
mineralization appears nearly flat lying the reported thicknesses
are close to true width.
Central Zone Table
--------------------------------------------------------------------------
Hole Noteworthy Average
Target Drill Hole Depth Results Intercept Grade Ag
Name Number (Metres) From - To (Metres) (Metres) g/t
--------------------------------------------------------------------------
Central Zone RR-1 102.1 4.6 to 44.2 39.6 2.65
44.2 to 50.3 6.1 15.12
61.0 to 99.0 38.7 2.28
RR-7 68.6 38 to 51.7 13.7 1.61
mine
52 to 59 7 workings
59 to 69 10 2.51
RR-8 132.6 52 to 129 77 3.64
RR-9 121.9 32 to 122 90 2.54
RR-10 93.0 4.6 to 93 88.4 3.25
RR-11 100.6 50 to 69 19 3.89
93 to 94.5 1.5 47.8
--------------------------------------------------------------------------
North Zone: Two additional drill holes, RR#2 and RR#4 were
positioned on the North Zone structure but were lost before
reaching target depth due to broken ground and high water
flows.
The Amador Canyon area of the property is located approximately
two kilometres to the northwest of New York Canyon (click here to
view map: http://media3.marketwire.com/r/NewDimensionRRClaim).
Six drill holes totaling 517 metres were drilled to test three
separate target areas.
Drill-hole RR#14 drilled within the East Zone intersected a wide
zone of anomalous silver which included a 1.5 metre interval of 125
g/t silver. This hole was drilled beneath an area that had returned
gold values of 9.8 g/t and 4.8 g/t gold from surface sampling and
is situated approximately 300 metres along Amador Canyon to the
east from the main area of historical silver production. Drilling
did not intersect noteworthy gold values and further work is
required to better understand the geometry of this occurrence.
The area contains virtually no outcrop and drilling here
identified a previously unknown zone of potentially important
silver hosted within a wide favorable alteration zone. The zone
remains open in all directions.
A second hole in the area (RR#15) was lost at 32 metres and did
not reach the mineralized horizon. The remaining four drill holes,
RR#12, 13, 16 and 17 were positioned to test a steeply dipping
manto style shear zone as well as the major easterly trending
Amador Fault that has reported significant historical mining
activity. All of these drill-holes encountered anomalous silver
values with a high value of 52.5 g/t silver over 1.5 metres in
RR#12.
Amador Canyon Table
--------------------------------------------------------------------------
Hole Noteworthy Average
Target Drill Hole Depth Results Intercept Grade Ag
Name Number (Metres) From - To (Metres) (Metres) g/t
--------------------------------------------------------------------------
East Zone RR-14 111.3 15.2 to 24.3 9 10.8
33.5 to 91.5 59.5 4.29
91.5 to 93 1.5 125
93 to 111.3 18.3 5.02
no
noteworthy
RR-15 32 hole lost at 32 m values
Amador Fault RR-12 71.6 16.8 to 22.9 6.1 12.16
inc. 1.5 52.5
RR-13 82.3 7.6 to 59.5 52 3.05
RR-16 97.6 33.5 to 36.5 3 14.6
Manto Target RR-17 111.3 7.6 to 12.2 4.6 8.8
22.9 to 50.3 27.4 3.69
88.4 to 89.9 1.5 26.0
--------------------------------------------------------------------------
The Reese River drill samples were transported to American Assay
Labs in Sparks Nevada. Gold was analyzed using a 30 gram charge and
fire-assayed with an atomic absorption analysis. Silver assays
procedures used a 5 gram charge, acid digestion and atomic
absorption analysis. The Company maintains a quality control
program consistent with industry standards including submitting
control samples and sample blanks for assay with drill samples.
Approximately 10 percent of the samples are also randomly
re-assayed. Company exploration programs are under the supervision
of Thomas Burkhart, the Company's Vice President of
Exploration.
Conclusions
This Phase I Reese River drill program was designed to test for
bonanza-grade silver contained within known structures, investigate
the possibilities of important wall rock mineralization adjacent to
the vein structures and, at New York Canyon, to explore the contact
zone between the sediments and the Austin Pluton that underlies the
area.
The program unfortunately encountered persistent drilling
problems due to broken ground condition and high water flows which
precluded most of the holes from reaching their target depths.
Further exploration at Reese River is warranted and should
include additional drilling to focus on the siltstone-intrusive
contact area at New York Canyon with the construction of drill
sites closer to the contact where it could be intersected at
shallower levels. At Amador Canyon the results warrant step-out and
deeper drilling to test the significance of drill-hole RR#14 and
the wide anomalous zone of silver mineralization intersected by the
drilling.
The program was funded by International Minerals Corporation
("IMZ") under the terms of Letter Agreement whereby IMZ can earn an
initial 60% interest in the Reese River Project by undertaking an
aggregate of US$1.0 million in exploration expenditures and
maintaining the underlying property obligations over a four year
period. IMZ can also acquire an additional 10% interest (for a
total interest of 70%) by funding and completing a Feasibility
Study within eight years (by August 1, 2017).
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 Thomas Burkhart, the
Company's Vice President of Exploration, 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
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