New Dimension Provides Update on Exploration Activities
TSX-V: NDR
VANCOUVER, Nov. 21, 2018 - New Dimension Resources Ltd. (TSXV: NDR) (the "Company", "NDR", or "New Dimension") is pleased to provide the following update on ongoing exploration activities on its 100%-owned portfolio of high-grade gold-silver projects in Santa Cruz, Argentina, and at the Company's two Canadian projects, Savant Lake and Domain.
Overview of Activities
Santa Cruz Projects, Argentina
Field activities in Santa Cruz remain focused on the discovery of new high-grade gold-silver resources, with field crews currently working on the evaluation and prioritization of drill targets at the Sierra Blanca project. In addition, further field work is scheduled to be undertaken on high-grade gold-silver targets in the Las Calandrias and Los Cisnes districts over the southern summer field season. Follow-up drill testing is currently planned for 2019.
Las Calandrias Project (Figures 1 & 2)
- An independent National Instrument 43-101 ("NI 43-101") technical report for the updated Las Calandrias Mineral Resource Estimate ("MRE") has been filed on SEDAR. The updated MRE, completed by AGP Mining Consultants Inc., confirmed the robust nature of the Las Calandrias gold-silver resource and reported a total Indicated Category resource of 391,000 ounces ("oz") gold and 6,070,000 oz silver for the combined Calandria Sur and Calandria Norte deposits (see Appendix 1 and the Company's press release dated October 5, 2018 for further detail).
- The Company continues to evaluate extensions to known high-grade gold mineralization in the Morena vein/breccia deposit and the adjacent Despreciada vein system. The Company's 2018 diamond drill campaign successfully extended known high-grade gold mineralization at Morena (e.g. 4.2m @ 6.9 grams per tonne [g/t] Au + 13 g/t Ag from 18.8m downhole, including 1.6m @ 12.0 g/t Au + 22 g/t Ag from 19.7m downhole, in CAL18-12; see Company press release dated September 13, 2018), with modeling of the Morena system ongoing.
Sierra Blanca Project (Figures 3 & 4)
Field activities are currently focused on the evaluation and ranking of precious metals vein targets at the Sierra Blanca Project, which is located 40km NW of AngloGold Ashanti's Cerro Vanguardia gold mine and immediately adjacent to Austral Gold's Pinguino gold-silver project. Sierra Blanca hosts an extensive epithermal "vein field" characterized by E-W and NW-trending veins with high-grade silver-gold mineralization, especially in the Chala-Achen sector. The upcoming work program will focus on evaluating both extensions to the known mineralization at Chala-Achen, in addition to evaluating untested sectors such as El Tranquilo, through a combination of geochemistry, geology / vein texture analysis, and low-cost ground geophysics.
Los Cisnes Project
- During October, 2018, the Company completed a geochemical (LAG) sample grid and ground magnetic survey over prospective areas located to the south of the El Brio high-grade vein/breccia structure at the Los Cisnes Project. Results are pending and will assist in the evaluation of both parallel and cross-cutting structures to El Brio which may host new silver-gold shoots.
- A metallurgical testwork program has also been initiated on 6 samples from the Calandria Norte deposit. This testwork will follow-up on the preliminary Leachwell analyses that were completed in 2011 by Mariana Resources Ltd., and which suggested amenability of the Calandria Norte mineralization to processing techniques utilizing leaching.
Canadian Projects
- At the Savant Lake Project (Figure 5 - 7), which is located approximately 240km NW of Thunder Bay, Ontario, an NDR field crew completed 10 days of late-season prospecting with the primary aim of field-checking known high-grade surface gold workings and evaluating along-strike extensions to the known mineralized areas. The Company's field crews visited most of the historic gold workings (especially L28, where high-grade gold mineralization was confirmed through a grab sample returning 8.1 g/t Au), and were successful in discovering a new gold zone located approximately 600m along strike from the Stillar Bay surface gold working (Figure 6).
- At the Domain Project in NE Manitoba, NDR has been in discussions with JV partner Yamana Gold, regarding the potential timing and scale of the next round of field work at the project. Historic drilling at Domain has intersected a main zone of gold mineralization over an approximate strike length of 500m and to a vertical depth of 300m, with gold mineralization remaining open in all directions. Gold mineralization at Domain is associated with NW-trending shear zone with magnetite-rich mudstones being the main hosts to mineralization. Yamana Gold is the Project Operator, and is currently in the progress of renewing access agreements with the local First Nation group at Domain. NDR holds a residual 29.56% participating interest.
Eric Roth, New Dimension's CEO, commented today: "I am pleased to be able to report significant progress in our exploration activities, both within our large Santa Cruz gold-silver portfolio and on our Canadian gold assets. In Santa Cruz, our focus remains on the discovery of high-grade gold-silver deposits with our current emphasis being on the evaluation of the extensive epithermal vein field at Sierra Blanca. Further upside also exists in the Las Calandrias and Los Cisnes districts, with field work planned to continue in these areas over the coming months. Separately, we are very encouraged by the upside potential at both the Savant Lake and Domain projects, where we expect to undertake further exploration activities in 2019".
Link to figures: https://newdimensionresources.com/site/assets/files/13136/2018_11_exploration_update_figures.pdf
Sierra Blanca Project
The Sierra Blanca Project is an advanced high-grade silver(-gold) project located approximately 40km NW of AngloGold Ashanti's Cerro Vanguardia gold-silver mine. Previous exploration by Mariana Resources Ltd. identified in excess of 22km of cumulative vein strike length at Sierra Blanca, however, many veins extend under post-mineralization cover and therefore total strike lengths are likely to be understated. Most of the work completed to date at Sierra Blanca has been focused on the E-W-trending Chala-Achen and Lucila vein systems, with high-grade silver values having been derived from surface trenching at Chala-Achen (including 9.4m @ 2,362 g/t Ag; source Mariana Resources Ltd.). Significant gold-silver values were also derived from initial drilling at Chala-Achen, including 3m@ 9.5 g/t Au + 28 g/t Ag in drill hole CHD-61.
Priority untested targets at Sierra Blanca include the NW-trending Veta Ana, El Tranquilo, Laguna, Cerro Bola, and Vetarron vein systems, together with the E-W-trending La Cresta vein system. The orientation of these veins is particularly noteworthy, as in most precious metals deposits in the Deseado Massif, NW is the preferred structural orientation for the localization of high-grade precious metals shoots. Many of the NW-trending veins at Sierra Blanca extend to New Dimension's eastern property boundary and are also interpreted to extend further in to Austral Gold's neighboring Pinguino gold-silver property.
On Behalf of the Board of New Dimension Resources Ltd.
"Eric Roth"
___________________________
Eric Roth, Ph.D., FAusIMM
President & CEO
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 high-grade precious metals deposits. The Company's current focus is on the discovery through drilling of new high-grade gold-silver resources at its 100%-owned Las Calandrias, Los Cisnes and Sierra Blanca projects, all located in the highly prospective Deseado Massif of Santa Cruz Province, southern Argentina. The Company also holds an option to earn-in to a 100% interest in the Savant Lake gold project in Ontario, together with an active 29.56% JV interest (with Yamana Gold) in the Domain gold project in Manitoba.
Qualified Persons and Disclosure Statement
The technical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in NI 43-101, and approved by Eric Roth, the Company's President & CEO, a director and a Qualified Person under NI 43-101. Mr. Roth holds a Ph.D. in Economic Geology from the University of Western Australia, is a Fellow of the Australian Institute of Mining and Metallurgy (AusIMM), and is a Fellow of the Society of Economic Geologists (SEG). Mr. Roth has over 25 years of experience in international minerals exploration and mining project evaluation.
Cautionary Notes and Forward-looking Statements
This news release contains forward-looking information within the meaning of applicable securities legislation. Forward-looking information is typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. Such statements include, without limitation, statements regarding the future results of operations, performance and achievements of New Dimension, including the timing, completion of and results from the drill programs described in this release. Although the Company believes that such statements are reasonable, it can give no assurances that such expectations will prove to be correct. All such forward-looking information is based on certain assumptions and analyses made by New Dimension in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. This information, however, is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Important factors that could cause actual results to differ from this forward-looking information include those described under the heading "Risks and Uncertainties" in New Dimension's most recently filed MD&A. New Dimension does not intend, and expressly disclaims any obligation to, update or revise the forward-looking information contained in this news release, except as required by law. Readers are cautioned not to place undue reliance on forward-looking information.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Appendix 1. Las Calandrias Mineral Resource, October 2018
Calandria Sur Deposit – Mineral Resources within constraining Shell
| Grades | Contained Metal | |||||
| Resource | Cut-off Grade | Tonnage | Au | Ag | Au | Ag |
| Indicated | Varied | 7,424 | 1.33 | 24.65 | 318,000 | 5,884,000 |
| Inferred | Varied | 1,739 | 0.73 | 7.17 | 41,000 | 401,000 |
Calandria Norte Deposit – Mineral Resources within constraining Shell
| Grades | Contained Metal | |||||
| Resource | Cut-off Grade | Tonnage | Au | Ag | Au | Ag |
| Indicated | >0.8 | 604 | 3.12 | 8.20 | 61,000 | 159,000 |
| Inferred | >0.8 | 19 | 1.31 | 0.69 | 1,000 | 400 |
Calandria Norte Deposit - Mineral Resources below constraining shell
| Grades | Contained Metal | |||||
| Resource | Cut-off Grade | Tonnage | Au | Ag | Au | Ag |
| Indicated | >1.5 | 131 | 2.82 | 6.30 | 12,000 | 27,000 |
| Inferred | >1.5 | 2 | 1.71 | 2.01 | 100 | 100 |
| Notes to Accompany Calandria Sur MRE: |
| Summation errors may occur due to rounding; |
| Mineral Resources are reported within an optimized constraining shell; |
| Block matrix is 6m x 6m x 5m (length x width x height); |
| Grades are estimated by ID3 interpolation; |
| Density was interpolated by ID2. Blocks not populated by ID2 were assigned the mean density 2.21; |
| Cut-off grade for MRE varies by oxide zone (0.3 g/t Au oxide; 0.4 g/t Au transition; and 0.8 g/t Au primary zones); |
| Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability |
| Constraining pit parameters: (in $US) |
| Metal Price: $1,400/oz Au; $18.50/oz Ag (based on 3 year rolling average seller's prices) |
| Metal Recoveries: Au (94%-oxide; 73% transition; 80% primary), Ag (88%-oxide; 78% transition; 80% primary) |
| Mining Cost: $2.50/t |
| Processing plus General and Administration: $11-oxide; $11-transition; $25-primary |
| Pit Slope: 45° |
| Notes to Accompany Calandria Norte MRE: |
| Summation errors may occur due to rounding; |
| Mineral Resources are reported within, and below, an optimized constraining shell; |
| Block matrix is 5m x 3m x 5m (length x width x height); |
| Grades are estimated by ID3 interpolation; |
| Density was assigned the mean density 2.41; |
| Cut-off grade used for reporting MRE within constraining shell is 0.8 g/t Au; |
| Cut-off grade used for reporting MRE below constraining shell is 1.5 g/t Au |
| Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. |
| Constraining pit parameters: (in $US) |
| Metal Price: $1,400/oz Au; $18.50/oz Ag (based on 3 year rolling average seller's prices) |
| Metal Recoveries: Au (80%), Ag (84%) |
| Mining Cost: $2.50/t |
| Processing plus General and Administration: $25 |
| Pit Slope: 45° |
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SOURCE New Dimension Resources Ltd.
Contact
New Dimension Contacts: Eric Roth, Email: info@newdimensionresources.com; Karen Davies, +1 604-314-2662
