Core Drilling to Commence at New Dimension's Reese River Silver Project, Nevada
November 10 2009 - 8:30AM
Marketwired
New Dimension Resources Ltd. (TSX VENTURE: NDR) and its
wholly-owned subsidiary Dimension Resources (USA) Inc. (the
"Company" or "New Dimension") are pleased to report that a core
drill has been mobilized to commence a two drill-hole program
(totaling approximately 1,500 feet) at the Company's Reese River
Project (the "Property" or "Reese River") in Nevada.
The core drill program will follow-up on a recently completed
Phase I reverse circulation ("RC") drill program, (see NDR Press
Release #09-09) and will be positioned to test a contact zone in
the New York Canyon area where the recent RC drilling was unable to
reach target depth due to high water flows.
The Company believes that the faulted contact between
sedimentary rocks and an underlying intrusive body represents a
favorable host environment for silver deposition and is thought to
have served as an important feeder to the high-grade silver veins
previously mined within the sediments in the district.
This model is supported by an abundance of historic mining
activity along the contact and the Company's recent RC drill-hole
(RR-6) that intersected the contact and reported noteworthy
mineralization, with silver values over 13.7 meters grading at an
average of 36.8 g/t (including 1.5 meters grading 182 g/t). (Map of
the Section: http://media3.marketwire.com/r/section).
The contact zone underlying New York Canyon represents a large
target area that has not been drill tested to date. The two core
drill holes will be positioned within the heart of the historic
mining area where the bulk of past production was realized from
veins in the sediments and will be placed approximately 200 metres
apart to test the east and west portions of the main zone of
mineralization.
The first core hole (DD-A) will be drilled at the site of the
Company's RC drill-hole RR-8, which averaged 3.6 g/t silver over
its final 77 meters to a depth of 132.6 metres. Core hole DD-A is
to be drilled to a depth of approximately 300 metres. A second core
hole (DD-B) will be located at the site of the Company's RC
drill-hole RR-10 that intersected anomalous silver throughout its
entire length (88 metres grading 3.25 g/t) to a depth of 93 metres.
Core hole DD-B is to be drilled to a depth of approximately 150
metres. (Map of the Plan: http://media3.marketwire.com/r/plan)
Reese River Project - Background Information
New Dimension's Reese River Project is located near Austin,
Nevada, with excellent access and infrastructure. Reported
historical silver production from the Austin District exceeded 20
million ounces with the majority of production coming from bonanza
grade veins.
International Minerals Corporation can earn a 60% interest in
the Reese River by undertaking an aggregate of US$1.0 million in
exploration expenditures and maintaining the underlying property
obligations over a four year period. International Minerals 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 overall drill program is managed by
New Dimension with International Minerals Corporation funding 100%
of the cost of the program.
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.
About International Minerals
International Minerals is an emerging gold and silver producer,
with a 40% interest in an operating silver mine (Pallancata) in
Peru and two gold development projects in Ecuador. International
Minerals is currently acquiring Ventura Gold Corp., with a
high-grade gold-silver development project in Peru, and Metallic
Ventures Gold Inc., which will provide close to feasibility-stage
gold properties in Nevada and cash flow from a production royalty
from Barrick's Ruby Hill gold mine, also located in Nevada.
About New Dimension Resources
New Dimension is engaged in the acquisition, exploration and
development of quality exploration opportunities throughout the
Americas. Currently, the Company's exploration activities are
focused on mineral properties situated in Nevada and Peru,
including the Cenepa Project, which is located along the Ecuadorian
border in northern Peru, and covers the projection of a 20
kilometre long north-south trending mineral belt that features
Kinross Gold Corp.'s (K-TSX) Condor Project and the Fruta Del Norte
gold discovery.
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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