Drilling Intersects 84.7 g/t Silver at New Dimension's Reese River Silver Project, Nevada
November 02 2009 - 10:18AM
Marketwired Canada
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.
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