New Dimension Receives Additional Title Confirmations at Cenepa Gold Project, Peru
January 05 2010 - 8:00AM
Marketwired
New Dimension Resources Ltd. (TSX VENTURE: NDR) (the "Company" or
"New Dimension") is pleased to provide an update on the Cenepa gold
project, which covers one of the most attractive geological
terrains in northern Peru: adjacent to the Kinross Gold Corp.
("Kinross") Condor Project and Fruta Del Norte gold deposit in
Ecuador (please click to view map:
http://www.newdimensionresources.com/i/maps/Cenepa/Cenepa_Project.jpg).
The Company has been advised by its Peruvian legal council that
title confirmation has been received on two additional Cenepa
concessions. Minera NDR Peru S.A.C. ("NDR Peru") now holds title to
six key concessions with title for the remaining four concessions
anticipated shortly. The company expects to initiate exploration
activities on the property in early 2010 and is currently assessing
the area logistics and property geology for its initial
program.
"I am very pleased with our success in obtaining key concessions
within the Cordillera Del Condor gold district in Northern Peru",
said Fred Hewett, President and CEO of New Dimension. "Management
believes that its land position, bordering the Kinross Fruta Del
Norte deposit in Ecuador and only five kilometres from one of their
significant gold occurrences, is one of the most promising for
discovery of mineralization on trend and proximal to their Condor
Project. New Dimension looks forward to advancing the Cenepa
Project and to an exciting 2010 exploration season."
The Cenepa Project is comprised of ten mining concessions
totaling approximately 9,000 hectares in northern Peru along its
border with Ecuador. The concessions, staked by NDR Peru in 2006,
cover the 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 is situated in Ecuador near the Peruvian
border and was acquired by Kinross in September 2008 through the
acquisition of Aurelian Resources Inc. The Kinross property
includes a NI 43-101 compliant Inferred Mineral Resource at Fruta
Del Norte consisting of 58.9 million tonnes grading 7.2 g/t gold
and 11.8 g/t silver containing 13.7 million ounces of gold and 22.4
million ounces of silver. Kinross currently have 4 drill rigs
active on the project and intend to complete a pre-feasibility
study in 2010.
Also within the Condor Project is the Aquas Mesas Sur prospect,
which includes an announced drill intercept of 51.06 g/t gold over
9.2 metres. This prospect is the southern-most known gold
occurrence within this newly emerging gold belt and is located only
five kilometers north, and on trend with, NDR Peru's Cenepa
concessions. Although there has been very limited exploration work
in Peru where the mineral trend crosses the border, the Company
believes the area is geologically highly permissive for the
discovery of significant gold deposits.
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 604-689-5041 (FAX) info@northair.com
www.newdimensionresources.com
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