New Dimension Receives Title Confirmation for Cenepa Project Concessions, Northern Peru
21 October 2009 - 1:58AM
Marketwired
New Dimension Resources Ltd. (TSX VENTURE: NDR) (the "Company" or
"New Dimension") is pleased to provide an update on the Cenepa
Project which covers one of the most attractive geological terrains
in northern Peru; adjacent to the Fruta Del Norte gold deposit held
by Kinross Gold Corp. (Kinross) (please click to view map:
http://www.newdimensionresources.com/i/maps/Cenepa/Cenepa_Project.jpg).
The Company has recently been advised by its Peruvian legal
council that title confirmation has been received on four of the
Cenepa concessions, with title for the remaining six concessions
anticipated shortly. This confirmation allows the procedure for the
necessary permits required for exploration to commence.
The Cenepa Project is comprised of ten mining concessions
totaling approximately 9,000 hectares in northern Peru along its
border with Ecuador. The concessions, staked by Minera NDR Peru SAC
in 2006, cover the projection of a 20 kilometre long north-south
trending mineral belt that includes the Condor Project and the
Fruta Del Norte gold discovery. The Condor Project is situated in
Equador near the Peruvian border and was acquired by Kinross in
September of 2008 through the acquisition of Aurelian Resources
Inc. The Kinross property includes a NI 43-101 compliant Inferred
Mineral Resource at Fruta Del Norte consisting of 58.9 million
tonnes grading 7.23 g/t gold and 11.8 g/t silver for 13.7 million
ounces of contained gold and 22.4 million ounces of contained
silver. Also within the Condor Project is the Aquas Mesas Sur
prospect which includes an announced drill intercept of 51.06 g/t
gold over 9.2 metres. This prospect is the southern most known gold
occurrence within this newly emerging gold belt and is located only
five kilometers north and on trend with the Company's Cenepa
concessions. Although there has been very limited exploration work
in Peru where the mineral trend crosses the border, the area is
geologically highly permissive for discovery.
During the government title confirmation process for the Cenepa
Project, title to certain concessions was challenged by an
individual who unduly delayed the approval procedure. This process
is now finally drawing to an end and the Company is extremely
pleased to be able to initiate its plans for the Cenepa
Project.
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 ore reserve estimates,
anticipated production or results, sales, revenues, costs, or
discussions of goals 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, metal price
volatility, volatility of metals production, project development,
ore reserve estimates, future anticipated reserves and cost
engineering estimate risks, geological factors and exploration
results. 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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