Yamana Gold Provides Update on Domain Joint Venture, Manitoba
Yamana Gold Provides Update on Domain Joint Venture,
Manitoba
TSX-V: NDR
VANCOUVER
,
Feb. 24, 2020
/CNW/ - New Dimension Resources Ltd. (TSXV:NDR) (the "Company", or "New Dimension")
notes Yamana Gold Inc.'s (TSX:YRI; NYSE:AUY) (or "Yamana") recent announcement in which it provides an update for
exploration activities on its pipeline of highly-prospective gold projects, including the Domain Joint Venture ("JV") in
Manitoba
. The Domain JV is held 70.4% by Yamana and 29.6% by New Dimension, with Yamana being the Project
Operator (Figure 1).
The Domain JV claims total 576 hectares and cover an area in which 62 holes /
9,660m
of historic drilling have been
completed and which successfully delineated significant high-grade iron formation-hosted gold mineralization. Notable
intercepts from this drilling include: RR-08-23, 2.65 metres ("m") at 17.44 grams per tonne ("g/t") of gold ("Au") and
2.67m
at 10.43 g/t Au; RR-08-21,
2.70m
at 15.16 g/t Au; and RR-08-20,
9.0m
at 7.29 g/t Au (see Company News Release dated
June 12, 2017
). True widths are estimated to be 80-100% of core length based on limited drilling.
Drilling to date has been focused on the "Main Zone", where high-grade iron formation-hosted gold mineralization has been
partially tested along some
800m
of strike and remains open at both depth and along strike (Figures 2 and 3). The "Main
Zone" mineralization lies on a prominent, northwest-trending HLEM (Horizontal Loop ElectroMagnetic) anomaly, and a
combined strike length of approximately 5km of HLEM anomalies remain to be tested within the Domain JV area. Drilling of
HLEM conductors during the last drill program in the winter of 2017 was successful in discovering additional gold
mineralization.
Yamana comments that they will continue to engage with the Bunibonibee Cree Nation in 2020 in an effort to reach a
mutually beneficial agreement supporting the advancement of exploration within this large, prospective land package.
Yamana considers the Domain project to be a "Tier Two" project, which are defined as being "Projects that have achieved
significant drill intercepts and whose geology along with other factors support rapid resource growth". NDR holds a
participating 29.6% interest in the Domain JV, however, retains the option to dilute its interest should it elect not to
participate in any program proposed by Yamana. In the event that NDR's direct interest in the project should fall below
10%, it would revert to a 1% Net Smelter Royalty.
Eric Roth
, New Dimension's CEO, commented today: "We are very pleased to be reporting that Yamana is continuing to
evaluate the Domain JV area. Considering the significant amount of drilling that has been completed at Main Zone, together
with the potential for new discovery, we feel strongly that the project has the potential to grow rapidly. I look forward to
keeping the market informed on progress at Domain".
Link to figures:
https://newdimensionresources.com/site/assets/files/13136/2020_02_domain_update_figures.pdf
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
more than 25 years of experience in international minerals exploration and mining project evaluation.
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 of
new high-grade gold resources at the drill-ready and 100%-owned
Savant Lake
(
Canada
) and
Sierra Blanca
(
Argentina
)
projects. The Company also continues to evaluate strategic alternatives for the 100%-owned Las Calandrias and Los
Cisnes projects in the highly prospective Deseado Massif of
Santa Cruz Province
, southern
Argentina
, as well as its 29.6%
Joint Venture interest with Yamana Gold in the Domain gold project in
Manitoba
.
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 exploration and 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.
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SOURCE
New Dimension Resources Ltd.
View original content:
http://www.newswire.ca/en/releases/archive/February2020/24/c4212.html
%SEDAR: 00023195E
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 24-FEB-20