New Dimension Announces Results of Diamond Drill Program at Midas Gold Project
February 06 2014 - 7:30AM
Marketwired Canada
New Dimension Resources Ltd. (TSX VENTURE:NDR) (the "Company" or "New
Dimension") is pleased to announce drill results of its eleven (11) hole, 1,488
metre diamond drill program recently completed on the Midas gold property (the
"Property"), located 50 kilometres northeast of Wawa in north central Ontario.
The drill program confirmed and further defined gold mineralization that was
previously identified in a 2011 drill program. Mineralization is hosted within
quartz stockwork veining developed along east-west trending strongly pyritized
shear zones. Thin section work on core samples as well as detailed structural
interpretations are ongoing with the aim of better understanding gold
distribution and deposit geology to aid in exploration planning
Highlights of the 2013 diamond drill program are provided in the table below:
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Drill
Drill Hole Zone Dip From To Intercept Gold
(metres) (metres) (metres) (g/t)
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MC-13-17 GZ1 -50 degrees 43.30 45.50 2.20 0.402
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46.50 47.00 0.50 1.870
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61.00 61.50 0.50 0.317
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MC-13-18 GZ1 -70 degrees 37.20 38.00 0.80 1.145
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38.90 39.80 0.90 0.786
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MC-13-19 GZ1 -50 degrees 16.80 17.80 1.00 1.084
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47.30 48.80 1.50 7.598
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including 47.80 48.30 0.50 15.391
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and 48.30 48.80 0.50 6.241
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MC-13-20 GZ1 -70 degrees No significant results
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MC-13-21 GZ1 -70 degrees 25.70 27.70 2.00 1.598
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32.40 33.00 0.60 1.487
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39.00 41.00 2.00 0.478
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MC-13-22 GZ2 -45 degrees 56.70 57.70 1.00 0.330
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63.45 64.45 1.00 0.880
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178.00 179.00 1.00 0.782
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MC-13-23 GZ2 -45 degrees 44.10 45.10 1.00 0.422
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45.75 46.25 0.50 0.679
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49.15 50.10 0.95 1.213
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77.40 78.00 0.60 0.748
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MC-13-24 GZ2 -65 degrees 49.40 50.60 1.20 1.987
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-- Highlights from 2013 diamond drill program for results over 0.3 g/t
gold;
-- Minimum individual assay interval used is 0.5 metres, maximum individual
assay interval used is 1.0 metres;
-- All results shown are over core lengths. True widths are not known.
Please click the following link to view a map of the drill plan of the Midas
gold property:
http://www.newdimensionresources.com/i/maps/midas/2014-02-06-Midas_Drill_Plan.pdf
The 2013 diamond drill program was designed to test the along strike and down
dip extensions of gold mineralization encountered in previous drilling. Drill
holes were also positioned to better define structural corridors that are key to
mineral distribution. Of note is that 9 out of 11 holes intersected pyritized
east-west trending shear zones previously known as GZ1 and GZ2. Within the
shears mineralization appears to be associated with quartz stockwork veining.
Two holes (MC-13-26 and MC-13-27) targeted IP geophysical anomalies outside of
the GZ1 and GZ2 target areas and failed to intersect significant mineralization.
Both the GZ1 and GZ2 target zones trend east-west with shallow southward dips.
They are strongly pyritized shear zones are hosted in mafic to intermediate
metavolcanics. The zones are sub-parallel and positioned approximately 200
metres apart. Geophysics interpretations suggest there is a flexure that locally
disrupts mineral continuity, but further drilling is required to confirm this.
More work is also necessary to better predict the relationship between the
zones.
New Dimension is currently accessing the results of the diamond drilling
programs and compiling the results of mapping and channel sampling. Further
exploration work will be contingent on the overall conclusion of the ongoing
study.
New Dimension can earn an initial 70% property interest by spending $1.2 million
in exploration expenditures, issuing 1.5 million shares and paying $100,000 on
or before December 31, 2016. Lakeland holds the Property under option from local
prospectors and can earn a 100% interest subject to a 2% NSR production royalty.
QA/QC
Assays quoted in this news release were performed at Accurassay Laboratories in
Thunder Bay, Ontario, using fire assay preparation on 30-gram splits with atomic
absorption finish. Samples returning over 10 grams per tonne of gold were
re-assayed using fire assay preparation on 50-gram splits, with gravimetric
finish. Accurassay is an independent analytical laboratory with ISO/IEC 17025
accreditation. Technical information in this news release was prepared by Steven
Siemieniuk, P.Geo., a Qualified Person as defined in NI 43-101, who also
supervised the drilling, logged the core and supervised the sampling of the
core.
Midas Project - Background Information:
The Midas Project consists of 12 staked claims (139 units) covering 2,112
hectares within the Sault Ste. Marie Mining Division. The Property is road
accessible and lies 20 kilometres southeast of Richmont Mines' Island Gold Mine
complex and Argonaut Gold's Magino Gold Project.
Please click the following link to view a location map of the Midas gold property:
http://www.newdimensionresources.com/i/maps/midas/2013-09-16-Midas_Project_Regional.jpg
Sporadic exploration has been carried out in the Midas Project area, beginning
in the 1940's, with most work completed in the late 1970's to 1990. Past
exploration has included surface sampling, trenching airborne and ground
geophysics and diamond drilling.
During the winter of 2011, Lakeland carried out ground magnetics and induced
polarization in the southwestern area of the Property. To follow up this program
they completed sixteen (16) diamond drill holes totaling 2,353 metres. The
drilling was designed to test induced polarization anomalies and surface gold
showings. Drilling partially defined two gold bearing zones (zones GZ-1 and
GZ-2) with fourteen (14) of the holes reporting gold mineralization. Highlights
of the drilling are summarized in the following table:
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Midas Gold Project - Significant Drill Hole Intervals (2011)
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Drill Hole From (metres) To (metres) Width (metres) Gold (g/t)
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M-11-01 55.00 57.00 2.00 4.61
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M-11-02 89.00 96.00 7.00 0.34
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M-11-03 55.40 56.80 1.40 1.06
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M-11-04 45.70 50.40 4.70 5.92
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Including 46.70 49.30 2.60 8.88
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M-11-05 21.00 22.00 1.00 1.34
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28.90 30.90 2.00 7.03
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M-11-08 56.50 57.50 1.00 2.39
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M-11-09 59.20 61.00 1.80 4.04
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M-11-14 36.50 38.50 2.00 1.92
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Including 36.50 37.50 1.00 3.33
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-- All results shown are over core lengths. True widths are not known;
-- Drill core was industry standards NQ in size. All split or sawn core
samples from Phase 1 drilling were submitted to Swastika Laboratories of
Swastika, Ontario for analysis; samples from Phase II drilling were
submitted to Accurassay Laboratories of Thunder Bay, Ontario. All gold
assaying was performed using a 30g standard fire assay with an AA and
/or gravimetric finish.
About New Dimension Resources Ltd.:
New Dimension Resources Ltd. is engaged in the acquisition, exploration and
development of quality exploration opportunities throughout the Americas. The
Company has an option to earn a 70% interest in the Midas gold property in north
central Ontario from Lakeland Resources Inc. and an option to earn up to a 100%
interest in 13 properties located in the Yukon from Strategic Metals Ltd.
The information in this news release has been taken from a report prepared under
Canadian regulatory requirements set out in National Instrument 43-101 and
authored by Steven Siemieniuk, P.Geo., a Qualified Person under NI 43-101. This
news release was also 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
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.
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
New Dimension Resources Ltd.
Fred Hewett
(604) 687-7545
New Dimension Resources Ltd.
Chris Curran
(888) 338-2200
info@northair.com
www.newdimensionresources.com
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