TSX-V: NDR
VANCOUVER, Nov. 21, 2018 /CNW/ - 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
(gpt Au)
|
Tonnage
(,000 t)
|
Au
(gpt)
|
Ag
(gpt)
|
Au
(oz Au)
|
Ag
(oz 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
(gpt Au)
|
Tonnage
(,000 t)
|
Au
(gpt)
|
Ag
(gpt)
|
Au
(oz Au)
|
Ag
(oz 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
(gpt Au)
|
Tonnage
(,000 t)
|
Au
(gpt)
|
Ag
(gpt)
|
Au
(oz Au)
|
Ag
(oz 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.