New Dimension Provides Update on Exploration Activities
New Dimension Provides Update on Exploration
Activities
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.
View original content:
http://www.newswire.ca/en/releases/archive/November2018/21/c7580.html
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For further information:
New Dimension Contacts: Eric Roth, Email: [email protected]; Karen
Davies, +1 604-314-2662
CO: New Dimension Resources Ltd.
CNW 09:00e 21-NOV-18