New Dimension Receives Encouraging Drill Results at Mars Project, Yukon
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/11/12 -- New Dimension Resources Ltd. (TSX VENTURE: NDR) ('New Dimension' or 'the 'Company') is pleased to announce assay results from its initial core drilling program at the Mars copper-gold porphyry project ('the Property'), located in south-central Yukon. Highlights from the two hole drill program include two intersections in hole Mars-11-02 returning:
-- 23.07 metres of 0.27 g/t gold and 0.16% copper; and
-- 14.75 metres of 0.17 g/t gold and 0.25% copper.
'We are encouraged with the results from this initial drill test of the porphyry target on the Mars Project,' said Fred Hewett, President & CEO of New Dimension. 'The drill results provide evidence that the Mars Property has the potential to host a large copper-gold rich porphyry system and further exploration is warranted to ascertain the project's ultimate potential.'
Program Summary
The Mars Property hosts a significant porphyry target that has seen limited previous exploration. In September 2011, two core holes totaling 637.03 metres in length were drilled by the Company 800 metres apart along the margin of the mineralized porphyry system to test a significant airborne geophysical target that coincides with a high gold copper soil anomaly within a 3,000 by 1,000 metre area. Both holes intersected significant widths of altered intrusive rock types hosting varied amounts of magnetite, pyrite, chalcopyrite and molybdenite. The most significant mineralized intervals were intersected near the bottom of hole Mars-11-02; which ended before it could reach full target depth as the water supply froze and prematurely terminated the program for the season. Although the intervals are relatively short, the mineralized grades are within the reported values of other gold rich alkalic copper-molybdenum porphyry deposits located in British Columbia such as Mount Milligan, Mount Polly and Copper Mountain.
The drill is presently stored on the Property and further drilling is warranted as neither holes completed in 2011 tested the entire width of the geochemical and geophysical anomaly. Future drilling should include deepening Mars-11-02 with additional diamond drill holes testing for gold-copper porphyry mineralization elsewhere within the geochemically and geophysically anomalous area. Drill holes should also be considered to evaluate for the potential of high grade gold mineralization, which was previously discovered on the Property by an earlier operator. That hole identified a significant interval of 4.57 metres grading 6.435 g/t gold in a zone of magnetite and pyrite bearing quartz veins that coincides with a moderately high magnetic anomaly. This high grade gold target is located 2,000 metres east of Mars-11-02.
Drill Results
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From To Length Au Cu Ag Mo
Hole (metres) (metres) (metres) (g/t) (%) (g/t) (%)
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Mars-11-01 no economic mineralization to report
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Mars-11-02 179.83 202.90 23.07 0.27 0.16 1.22 0.028
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224.23 238.98 14.75 0.17 0.25 2.03 0.028
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Click on the following link to view the drill plan:
http://www.newdimensionresources.com/i/maps/mars/2012-01-11_Mars_Property_Plan.pdf
Click on the following link to view the cross section of Mars-11-02:
http://www.newdimensionresources.com/i/maps/mars/2012-01-11_Mars_Property_Section_A_to_A'.pdf#zoom=60
New Dimension has an option to earn a 100% interest in the Property from Strategic Metals Ltd. ('Strategic'). For details of the agreement please see the Company's press release dated September 7, 2011.
Property Geology
The 19.4 square kilometre Mars Property is located 65 km northeast of Whitehorse in the Whitehorse Mining District and covers a portion of the Teslin Crossing Pluton, a geological terrane known to host economic porphyry deposits. The pluton is an 8,500 metre by 7,000 metre, zoned, silica saturated pyroxenite-associated alkalic syenite with a geochemical signature comparable with known copper-gold alkalic porphyry deposits. The age of emplacement of this pluton is dated at 176-186 Ma, which is identical to that of the Mt. Milligan alkalic porphyry system, located in north-central British Columbia. Mt. Milligan hosts proven and probable reserves of 482 Mt grading 0.20% copper and 0.39 g/t gold (Terrane Metals Corp. NI 43-101 Technical Report October 2009) and is currently being developed by Thompson Creek Metals Company Inc. as a large open pit mine.
Sampling and QA/QC
New Dimension's drill program was supervised by Archer, Cathero & Associates (1981) Limited. The program followed rigorous sample handling and analytical procedures in regards to core from the Mars Property. Core samples were processed in 36 sample batches with each batch including two assay standards, two blank samples, and one duplicate sample. Analytical work was done by ALS Chemex with sample preparation in Whitehorse and assays and geochemical analyses in North Vancouver. All core samples were initially analyzed for gold by fire assay fusion followed by atomic absorption spectroscopy (Au-AA26) and for 51 other elements by aqua regia digestion followed by inductively coupled plasma combined with mass spectroscopy or atomic emission spectroscopy (ME-MS41). The average grades reported for gold, copper, silver and molybdenum in this news release are calculated from the assay results. All standard, blank and duplicate samples passed QA/QC reviews.
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.
About New Dimension Resources Ltd.
New Dimension has an option to earn up at a 100% interest in Mars and 12 other properties located in Yukon from Strategic. The properties were staked or purchased by Strategic following an extensive review of a geological database compiled by Archer, Cathro & Associates (1981) Limited ('Archer Cathro'), an independent consulting group with extensive exploration experience in Yukon. New Dimension also holds several other attractive exploration properties in Canada and Peru.
Also in Canada, New Dimension holds a 35% interest in the Domain gold project located in northern Manitoba. Since 2006, three drill programs have been completed on the property returning encouraging results highlighted by 18.05 metres of 4.61 g/t gold.
In northern Peru, the Company's Cenepa's gold project covers one of the most attractive geological terrains within the highly prospective Cordillera del Condor mineral belt; adjacent to Kinross Gold Corp.'s Condor Project and Fruta del Norte gold deposit in Ecuador.
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
(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
