New Dimension Provides Update on Cenepa Gold Project, Peru
January 18 2010 - 8:01AM
Marketwired
New Dimension Resources Ltd. (TSX VENTURE: NDR) (the "Company" or
"New Dimension") is pleased to provide an update on the Cenepa gold
project in northern Peru. The Project covers the very attractive
geological terrain adjacent to the Kinross Gold Corp. ("Kinross")
Condor Project and Fruta del Norte gold deposit in Ecuador (please
click to view map: http://media3.marketwire.com/docs/ndr118m.JPG).
During the first week of January, Tom Burkhart, V.P. of
Exploration for New Dimension participated in several meetings in
Lima Peru with various parties and stakeholders currently active in
northern Peru along the border with Ecuador. Mr. Burkhart reports
that results of the meetings were very positive and provided the
Company with significant insight on how best to address several key
issues including exploration logistics, social networking, various
planning and access options to the Cenepa Project. Mr. Burkhart
also reports that he was successful in establishing contact with a
local community leader from the Cenepa region who was very helpful
in providing essential information on the area and the communities
that reside within the Cenepa boundaries. The Company has engaged
this community leader and his associates to serve as a scouting
party to enter the Cenepa claims with the objective of identify
access routes into the claims and locating possible mineral
occurrences. These individuals have prospecting experience and will
obtain samples from any mineralized areas that are identified. The
individuals left for the property on January 12th. This development
with the local community is an important step in developing
community relations and gaining key information for the Company's
short term course of action on advancing its Cenepa Project.
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 Minera NDR Peru
("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 Company has
verified title for six concessions and anticipates title for the
remaining four concessions shortly.
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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