New Dimension Obtains Gold Values at Cenepa Gold Project, Peru
May 06 2010 - 8:01AM
Marketwired Canada
New Dimension Resources Ltd. (TSX VENTURE:NDR) (the "Company" or "New
Dimension") is pleased to report that sampling by Minera NDR Peru ("NDR Peru")
during an initial reconnaissance program of the Cenepa property has returned
anomalous gold values from stream sediment samples. The Cenepa gold property,
located within the Cordillera del Condor mineral belt in northern Peru and
adjacent to the Kinross Gold Corp. ("Kinross") Condor Project that encompasses
the Fruta del Norte gold deposit in Ecuador, covers a very attractive geologic
terrain which the Company believes is highly permissive for the discovery of
precious metal mineralization. (To view the map accompanying this release please
click on the following link:
http://www.newdimensionresources.com/i/maps/Cenepa/2010-01-05_Geology.jpg).
"I am extremely pleased by these positive results from our first program at
Cenepa," said Fred Hewett, President & CEO of New Dimension. "A great deal of
work needs to be done to evaluate the potential of the property, but these
results are a promising first step in a very exciting geological belt."
Stream Sediment and Rock Chip Sampling
A geological reconnaissance team consisting of two geologists and five local
prospectors visited the project in late March and collected 12 stream sediment
and three rock samples to test for evidence of mineralization. The samples were
collected along four principle drainages found within the southeastern portion
of the Cenepa concessions.
The results from the stream sediment samples outline a moderate gold anomaly
that could suggest a possible east-west orientation to potential mineralization
through this portion of the Cenepa concessions. Seven of the samples returned
values from 14 - 19 ppb gold with three samples greater than 35 ppb gold (CNS-5,
6 and 11) reporting values ranging from 37 - 59 ppb gold. The strongest
anomalous values were obtained from two parallel drainages (#3 and #4) spaced
approximately 1 kilometre apart.
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STREAM SEDIMENT SAMPLES
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Sample No. Sample Type Drainage No. Gold (ppb)
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CNS-01 stream sediment 2 19
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CNS-02 stream sediment 2 16
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CNS-03 stream sediment 1 14
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CNS-04 stream sediment 1 15
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CNS-05 stream sediment 3 43
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CNS-06 stream sediment 3 37
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CNS-07 stream sediment 3 19
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CNS-08 stream sediment 3 18
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CNS-09 stream sediment 4 9
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CNS-10 stream sediment 4 5
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CNS-11 stream sediment 4 59
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CNS-12 stream sediment 4 14
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In drainage #3 the stronger gold value is upstream indicating a possible source
of the gold anomaly at higher elevations. However, the highest gold value of the
complete sample set (59 ppb gold) is found in drainage #4 (which is parallel to
drainage #3) and at a lower elevation indicating either a separate gold source
or the presence of an east-west zone of mineralization cross-cutting through the
two drainages.
The multi-element geochemical signature of drainage #4 is characterized by
relatively elevated values of arsenic, copper, nickel, strontium, titanium,
vanadium and zinc suggesting the presence of hydrothermally altered intrusive
rocks further upstream.
In the southernmost drainages (#1 and #2), the gold values are weakly anomalous
ranging from 14 - 19 ppb gold. The multi-element analysis of the samples shows
distinct geochemical signatures from each drainage, which will be followed up
with further sampling to provide exploration targets.
Three rock chip samples were taken along a 500 metre stretch of river bed near
the eastern border of the concession block from separate outcrops of polymictic
andesite breccia (angular lithic fragments) with chlorite and up to 10% pyrite
in the matrix. The rock chip samples returned background values of gold with
weakly anomalous values in copper and zinc related to alteration in the sampled
outcrops. CNR-02 contained 57 ppm copper and 107 ppm zinc while CNR-03 gave
anomalous values in titanium and vanadium (0.41% titanium, 114 ppm vanadium).
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ROCK CHIP SAMPLES
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Sample No. Sample size (metre) Gold (ppm)
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CNR-01 2x2 chip less than 0.005
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CNR-02 2x2 chip less than 0.005
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CNR-03 2x2 chip less than 0.005
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About the Cenepa Gold Project
The Cenepa Project totals over 9,000 hectares in northern Peru along its border
with Ecuador. The property, staked by NDR Peru commencing 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 obtained title for six concessions and anticipates title for the
remaining concessions to be granted within the next quarter.
The Condor Project is situated in Ecuador near the Peruvian border and was
acquired by Kinross in September 2008 through the $1.2 billion dollar
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 has 4 drill
rigs active on the project and have stated they 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.
Corporate Update
New Dimension reports that Tom Burkhart has stepped down as Vice-President of
Exploration, but will carry on as a Director of the Company. In order to
continue with its aggressive exploration programs, New Dimension has retained
consulting geologists Mr. David Mehner and Mr. Steven L. Park. Mr. Mehner has
over 30 years experience throughout Mexico, North America and Asia, and will
provide valuable direction to New Dimension as it continues to move forward. Mr.
Park, a resident of Lima Peru for the past 15 years, will continue to work with
New Dimension in advancing its South American properties. Mr. Park has over 30
years experience in project generation and resource modeling for junior and
senior mining companies within the Americas. Mr. Park will be a key asset for
the Company as it advances the Cenepa gold project.
Quality Control
The stream sediment samples were taken under geological supervision and prepared
for analysis in ALS Chemex Labs by sieving each sample to -80 mesh (180 micron).
Both fractions were retained; the fine fraction was analyzed using FA with AA
finish for gold analysis and aqua regia digestion and ICP-AES analysis for a
suite of 35 elements. The rock chip samples were also analyzed using FA with AA
finish for gold analysis and aqua regia digestion and ICP-AES analysis for a
suite of 35 elements.
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 Fred Hewett the Company's President & CEO, 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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