New Dimension Receives Last Original Title Confirmation at Cenepa Gold Project, Peru
January 04 2011 - 8:00AM
Marketwired
New Dimension Resources Ltd. (TSX VENTURE: NDR) (the "Company" or
"New Dimension") is pleased to report that title confirmation has
been received by Minera NDR Peru S.A.C. ("NDR Peru") for the last
original concession within the Company's Cenepa gold project ("the
Property"), located in northern Peru.
"I am very pleased with our success in obtaining title to the
last original concession which was staked in 2006," said Fred
Hewett, President and CEO of New Dimension. "Now that the Company
has received titles to all ten original concessions we can focus on
advancing the Cenepa gold project, which represents a significant
land position where mineralization as seen at Kinross' Condor
Project in Ecuador, projects across the border into Peru.
Management believes the potential for discovery here is
significant."
About the Cenepa Gold Project
The Property totals over 9,000 hectares in northern Peru along
its border with Ecuador and covers the southern 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, situated in Ecuador adjacent to the Peruvian
border, was acquired by Kinross in September 2008 and hosts a NI
43-101 compliant Inferred Mineral Resource at the Fruta del Norte
deposit of 13.7 million ounces of gold. Kinross has stated they
intend to complete a pre-feasibility study shortly and expect to
complete a full feasibility study within the first half of
2011.
Also within Kinross' Condor Project is the Aquas Mesas Sur
prospect, which includes an announced drill intercept of 51.1 g/t
gold over 9.2 metres. This prospect is the southern-most known gold
occurrence within this emerging gold belt and is located only five
kilometres north, and on trend with, NDR Peru's Property
(http://media3.marketwire.com/docs/ndr-cenepa.jpg).
To date there has been very limited exploration in Peru in the
area where the Condor Project mineral trend crosses the border.
However based on the known trend of mineralization, a similar
geologic environment and field results, the Company believes the
Property is highly prospective for new discoveries. During the past
year, NDR Peru completed two successful prospecting programs on its
Cenepa concessions, which returned positive gold values from stream
sediment sampling and outlined three gold anomalies with values
greater than 400 ppb
(http://www.newdimensionresources.com/i/maps/cenepa/2010-10-18_Rock_&_Stream_Sample_Au.jpg).
About New Dimension Resources
New Dimension is engaged in the acquisition, exploration and
development of quality mineral resource properties throughout the
Americas with a focus on significant bulk tonnage gold and silver
deposits. In addition to its 100% owned Cenepa gold project, New
Dimension has an option to earn a 100% interest in Strategic
Metals' Gild gold property within a geological belt that the
Company & Strategic Metals believes has similar characteristics
to discoveries by ATAC Resources Ltd. 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 25,000 metres of diamond
drilling in excess of 130 holes. An initial exploration program is
anticipated by the Company as soon as spring weather conditions
allow. Subject to favourable results from this initial program and
the receipt of all necessary permits, a drill program is likely to
be carried out in the fall of 2011.
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 anticipated mineral title grants,
resource estimates, or discussions of goals, potential
mineralization 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, the risk mineral title to
additional concessions may not be granted, assumptions underlying
resource estimates not being realized, geological factors and
exploration results that do not reflect the prospectivity of the
concessions. 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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