New Dimension Completes Exploration Program at Voisey's Bay, Labrador
November 22 2010 - 8:00AM
Marketwired
New Dimension Resources Ltd. (TSX VENTURE: NDR) (the "Company" or
"New Dimension") is pleased to report that an exploration program
("the Program") has recently been completed by the Company at its
Voisey's Bay nickel property (Project 61) in the province of
Newfoundland and Labrador, Canada.
The Voisey's Bay Property, held under a 63:37 joint venture with
North Group Finance Ltd., is located approximately 44 kilometres
southwest of the community of Nain, and surrounded by a much larger
Vale Inco claim block. The Vale Inco property hosts one of the
world's richest nickel mines which was discovered in 1995, and
triggered a prolonged period of exploration in the area. The
Company has continued to maintain its land position in the area,
consisting of 10 contiguous claims, since that time as the
property's geological setting contains significant similarities to
the adjacent Vale Inco property.
Sampling Results
During the recent exploration program, a total of 36 rock
channel samples were collected across three gossans zones, as
reported below.
-- A total of 25 samples were collected along a 24.7 metre long channel cut
across the South Gossan. Six of the 25 samples were sulphide-rich, with
one sample returning values of 0.93% nickel, 0.1% cobalt and 0.31%
copper over a length of one metre.
-- Three three-metre long samples collected across a second gossan to the
west of the South Gossan returned weakly elevated levels of both nickel
and copper.
-- The remaining channel samples taken in the program tested a third gossan
zone, also located to the west of the South Gossan. Highlights from the
eight one-metre long samples taken here returned a maximum of 0.4%
nickel and 0.23% copper.
Ten of the 36 samples collected from all three gossans returned
only traces of nickel and copper.
The Program was conducted under the supervision of Spencer
Vatcher, P. Geo.
About New Dimension Resources Ltd.
New Dimension is engaged in the acquisition, exploration and
development of quality mineral resource properties throughout the
Americas with a focus on potentially significant bulk tonnage gold
and silver deposits. The Company's exploration activities are
presently focused on its Cenepa gold project, which covers one of
the most attractive geological terrains within the highly
prospective Cordillera del Condor mineral belt in northern Peru and
southern Ecuador
(http://media3.marketwire.com/docs/ndr-cenepa.jpg). This belt is
host to Kinross Gold's FDN deposit, a NI 43-101 compliant Inferred
Mineral Resource consisting of 58.9 million tonnes grading 7.2 g/t
gold and 11.8 g/t silver and containing 13.7 million ounces of gold
and 22.4 million ounces of silver, respectively.
New Dimension also has recently acquired an option to earn a
100% interest in Strategic Metals' Gild gold property within a
geological belt that the Company & Strategic Metals believes
has the same characteristics as recent discoveries by ATAC
Resources Ltd. ("ATAC") in the Yukon
(http://media3.marketwire.com/docs/ndr-gild.pdf). Drilling on the
ATAC Property has returned significant gold values, as demonstrated
by announced intercepts of 9.25 g/t gold over 31.1 metres and 24.07
g/t gold over 28.4 metres from over 25,00 metres of diamond
drilling in excess of 130 holes. An initial exploration program is
scheduled to be carried out by the Company on the Gild Property as
soon as spring weather conditions allow. Favourable results,
subject to the receipt of all necessary permits, could result in a
drill program in the fall of 2011.
The 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 statements of belief of
similarity of geological characteristics or features, statements of
unverified drilling and sampling results and expectations of
receipt of permits and plans for future work. Forward looking
statements involve 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,
unexpected geological factors, exploration results, results of
verification work and unanticipated regulatory obstacles. 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 President
& CEO (604) 687-7545 or (888) 338-2200 New Dimension Resources
Ltd. Chris Curran Investor Relations (604) 687-7545 or (888)
338-2200 (604) 689-5041 (FAX) info@northair.com
www.newdimensionresources.com
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