New Dimension Announces Results of Diamond Drill Program at Midas Gold Project
February 06 2014 - 8:30AM
Marketwired
New Dimension Announces Results of Diamond Drill Program at Midas
Gold Project
Drilling Highlights Include 1.50 Metres of 7.6 g/t Gold
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb 6, 2014) - 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:
Drill Hole |
|
Zone |
|
Dip |
|
From |
|
To |
|
Drill Intercept |
|
Gold |
|
|
|
|
|
|
(metres) |
|
(metres) |
|
(metres) |
|
(g/t) |
MC-13-17 |
|
GZ1 |
|
-50° |
|
43.30 |
|
45.50 |
|
2.20 |
|
0.402 |
|
|
|
|
|
|
46.50 |
|
47.00 |
|
0.50 |
|
1.870 |
|
|
|
|
|
|
61.00 |
|
61.50 |
|
0.50 |
|
0.317 |
|
|
|
|
|
|
|
|
|
|
|
|
|
MC-13-18 |
|
GZ1 |
|
-70° |
|
37.20 |
|
38.00 |
|
0.80 |
|
1.145 |
|
|
|
|
|
|
38.90 |
|
39.80 |
|
0.90 |
|
0.786 |
|
|
|
|
|
|
|
|
|
|
|
|
|
MC-13-19 |
|
GZ1 |
|
-50° |
|
16.80 |
|
17.80 |
|
1.00 |
|
1.084 |
|
|
|
|
|
|
47.30 |
|
48.80 |
|
1.50 |
|
7.598 |
including |
|
|
|
|
|
47.80 |
|
48.30 |
|
0.50 |
|
15.391 |
and |
|
|
|
|
|
48.30 |
|
48.80 |
|
0.50 |
|
6.241 |
|
|
|
|
|
|
|
|
|
|
|
|
|
MC-13-20 |
|
GZ1 |
|
-70° |
|
No significant results |
|
|
|
|
|
|
|
|
|
|
|
|
|
MC-13-21 |
|
GZ1 |
|
-70° |
|
25.70 |
|
27.70 |
|
2.00 |
|
1.598 |
|
|
|
|
|
|
32.40 |
|
33.00 |
|
0.60 |
|
1.487 |
|
|
|
|
|
|
39.00 |
|
41.00 |
|
2.00 |
|
0.478 |
|
|
|
|
|
|
|
|
|
|
|
|
|
MC-13-22 |
|
GZ2 |
|
-45° |
|
56.70 |
|
57.70 |
|
1.00 |
|
0.330 |
|
|
|
|
|
|
63.45 |
|
64.45 |
|
1.00 |
|
0.880 |
|
|
|
|
|
|
178.00 |
|
179.00 |
|
1.00 |
|
0.782 |
|
|
|
|
|
|
|
|
|
|
|
|
|
MC-13-23 |
|
GZ2 |
|
-45° |
|
44.10 |
|
45.10 |
|
1.00 |
|
0.422 |
|
|
|
|
|
|
45.75 |
|
46.25 |
|
0.50 |
|
0.679 |
|
|
|
|
|
|
49.15 |
|
50.10 |
|
0.95 |
|
1.213 |
|
|
|
|
|
|
77.40 |
|
78.00 |
|
0.60 |
|
0.748 |
|
|
|
|
|
|
|
|
|
|
|
|
|
MC-13-24 |
|
GZ2 |
|
-65° |
|
49.40 |
|
50.60 |
|
1.20 |
|
1.987 |
- 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:
Midas Gold Project - Significant Drill Hole Intervals
(2011) |
Drill Hole |
|
From (metres) |
|
To (metres) |
|
Width (metres) |
|
Gold (g/t) |
M-11-01 |
|
55.00 |
|
57.00 |
|
2.00 |
|
4.61 |
M-11-02 |
|
89.00 |
|
96.00 |
|
7.00 |
|
0.34 |
M-11-03 |
|
55.40 |
|
56.80 |
|
1.40 |
|
1.06 |
M-11-04 |
|
45.70 |
|
50.40 |
|
4.70 |
|
5.92 |
Including |
|
46.70 |
|
49.30 |
|
2.60 |
|
8.88 |
M-11-05 |
|
21.00 |
|
22.00 |
|
1.00 |
|
1.34 |
|
|
28.90 |
|
30.90 |
|
2.00 |
|
7.03 |
M-11-08 |
|
56.50 |
|
57.50 |
|
1.00 |
|
2.39 |
M-11-09 |
|
59.20 |
|
61.00 |
|
1.80 |
|
4.04 |
M-11-14 |
|
36.50 |
|
38.50 |
|
2.00 |
|
1.92 |
Including |
|
36.50 |
|
37.50 |
|
1.00 |
|
3.33 |
- 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.
New Dimension Resources Ltd.Fred Hewett(604) 687-7545New
Dimension Resources Ltd.Chris Curran(888)
338-2200info@northair.comwww.newdimensionresources.com
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