New Dimension Provides Update on Concession Status at Cenepa Gold Project, Peru
June 03 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
concessions located within the highly prospective 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. (click to view map:
http://www.newdimensionresources.com/i/maps/Cenepa/2010-01-05_Geology.jpg).
New Dimension has been advised by its Peruvian legal council
that three of the four concessions staked by NDR Peru currently
awaiting title have received a favourable opinion from the
necessary respective government departments. This is considered to
be the final step in the process of granting full title to the
concessions. Data related to the fourth concession has been
published in the appropriate official publications and title
documentation is proceeding. Title to all four concessions is
anticipated shortly.
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 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 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 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.
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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