New Dimension Resources Ltd.
TSX VENTURE : NDR

New Dimension Resources Ltd.

July 02, 2008 08:30 ET

New Dimension Acquires Gold-Copper Project in Southwestern Peru

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 2, 2008) - New Dimension Resources Ltd. ("New Dimension" or the "Company") (TSX VENTURE:NDR) is pleased to announce that it has signed agreements to obtain a 100 percent interest in a large gold-copper mineral system located near the community of Querobamba in southwestern Peru.

The property comprises two 1,000 hectare concessions and is known as Puma Dorado. It hosts a 1,700 metre long by 500 metre wide zone of massive magnetite with locally strong pyrite and disseminated chalcopyrite. Initial sampling by the Company, consisting of seven, one-to-three metre wide rock chip samples, reported values ranging from 0.50 to 3.2 g/t gold and from 0.26 to 7.8% copper. Twelve follow-up rock chip samples from the zone averaged 0.92 g/t gold with four samples assaying over 1.0 g/t gold with a high of 2.4 g/t gold. Six of these samples exceeded 10,000 ppm (1%) copper, with the final copper values still pending.

Where exposed on surface, the zone of massive magnetite varies in thickness from 2 to 15 metres and occurs mainly as tabular bodies that form southerly-inclined dip-slopes. The occurrences are believed to be of magmatic origin and are hosted within the large Querobamba intrusive complex.

The Puma Dorado gold-copper occurrence is well positioned within a highly mineralized metallogenic province of southern Peru and appears to have significant potential to host economic mineralization. The main trend of mineralization is open to the south, west and east where outcropping mineralization dips under cover and multiple drill targets exist. To better identify additional target potential, there is an ongoing work program that includes detailed geologic mapping and sampling. In addition a detailed ground magnetic survey is planned to test covered areas along the known mineral trend.

The claims are accessible by road and are situated proximal to several small communities that offer logistical support and infrastructure. Although there has been limited surface mining on the property by local informal miners, there is no evidence that any modern exploration activity has been conducted in the area.

While the Company is carrying out additional field work on Puma Dorado to better define specific target areas it will commence the permitting requirements necessary to conduct a preliminary drill program.

The project is covered by two option agreements. The first agreement allows the Company to purchase a 100% interest in the Chen 6 claim for a total price of US $2 Million over 5 years with an initial payment of US $25,000 for the first year. The second agreement allows the Company to purchase the Puma Dorado claim for US $1.5 Million over five years, with an initial payment of US $15,000 for the first year. This concession also has a US $25,000 first year work commitment. Both agreements are subject to board and regulatory approval.

Analytical services and assays are provided by ALS Chemex Laboratories in Lima. The Company maintains a quality control program consistent with industry standards. The technical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in National Instrument 43-101 and reviewed of Thomas Burkhart, the Company's Vice President of Exploration, a director and a Qualified Person under NI 43-101.

About New Dimension Resources

New Dimension Resources Ltd. is engaged in the acquisition, exploration and development of quality exploration opportunities throughout the Americas. Currently, the Company's exploration activities are focused on mineral properties situated in Nevada, Manitoba and Peru, with drilling currently planned by New Dimension for the Domain gold property in Manitoba and the Reese River silver property in Nevada with a drill program to be conducted by our joint venture partner at the Company's Trend property in Nevada.

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 the Company's Sedar filings for a more detailed discussion of factors that may impact expected results.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.

Contact Information

  • New Dimension Resources Ltd.
    Fred Hewett
    President & CEO
    (604) 687-7545 or Toll Free: 1-888-338-2200
    or
    New Dimension Resources Ltd.
    Chris Curran
    (604) 687-7545 or Toll Free: 1-888-338-2200
    (604) 689-5041 (FAX)
    Email: info@northair.com
    Website: www.newdimensionresources.com