New Dimension Resources Ltd.

TSX VENTURE : NDR


New Dimension Resources Ltd.

February 06, 2014 08:30 ET

New Dimension Announces Results of Diamond Drill Program at Midas Gold Project

Drilling Highlights Include 1.50 Metres of 7.6 g/t Gold

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 6, 2014) - New Dimension Resources Ltd. (TSX VENTURE:NDR) (the "Company" or "New Dimension") is pleased to announce drill results of its eleven (11) hole, 1,488 metre diamond drill program recently completed on the Midas gold property (the "Property"), located 50 kilometres northeast of Wawa in north central Ontario.

The drill program confirmed and further defined gold mineralization that was previously identified in a 2011 drill program. Mineralization is hosted within quartz stockwork veining developed along east-west trending strongly pyritized shear zones. Thin section work on core samples as well as detailed structural interpretations are ongoing with the aim of better understanding gold distribution and deposit geology to aid in exploration planning

Highlights of the 2013 diamond drill program are provided in the table below:

Drill Hole Zone Dip From To Drill
Intercept
Gold
(metres) (metres) (metres) (g/t)
MC-13-17 GZ1 -50° 43.30 45.50 2.20 0.402
46.50 47.00 0.50 1.870
61.00 61.50 0.50 0.317
MC-13-18 GZ1 -70° 37.20 38.00 0.80 1.145
38.90 39.80 0.90 0.786
MC-13-19 GZ1 -50° 16.80 17.80 1.00 1.084
47.30 48.80 1.50 7.598
including 47.80 48.30 0.50 15.391
and 48.30 48.80 0.50 6.241
MC-13-20 GZ1 -70° No significant results
MC-13-21 GZ1 -70° 25.70 27.70 2.00 1.598
32.40 33.00 0.60 1.487
39.00 41.00 2.00 0.478
MC-13-22 GZ2 -45° 56.70 57.70 1.00 0.330
63.45 64.45 1.00 0.880
178.00 179.00 1.00 0.782
MC-13-23 GZ2 -45° 44.10 45.10 1.00 0.422
45.75 46.25 0.50 0.679
49.15 50.10 0.95 1.213
77.40 78.00 0.60 0.748
MC-13-24 GZ2 -65° 49.40 50.60 1.20 1.987
  • Highlights from 2013 diamond drill program for results over 0.3 g/t gold;
  • Minimum individual assay interval used is 0.5 metres, maximum individual assay interval used is 1.0 metres;
  • All results shown are over core lengths. True widths are not known.

Please click the following link to view a map of the drill plan of the Midas gold property: http://www.newdimensionresources.com/i/maps/midas/2014-02-06-Midas_Drill_Plan.pdf

The 2013 diamond drill program was designed to test the along strike and down dip extensions of gold mineralization encountered in previous drilling. Drill holes were also positioned to better define structural corridors that are key to mineral distribution. Of note is that 9 out of 11 holes intersected pyritized east-west trending shear zones previously known as GZ1 and GZ2. Within the shears mineralization appears to be associated with quartz stockwork veining. Two holes (MC-13-26 and MC-13-27) targeted IP geophysical anomalies outside of the GZ1 and GZ2 target areas and failed to intersect significant mineralization.

Both the GZ1 and GZ2 target zones trend east-west with shallow southward dips. They are strongly pyritized shear zones are hosted in mafic to intermediate metavolcanics. The zones are sub-parallel and positioned approximately 200 metres apart. Geophysics interpretations suggest there is a flexure that locally disrupts mineral continuity, but further drilling is required to confirm this. More work is also necessary to better predict the relationship between the zones.

New Dimension is currently accessing the results of the diamond drilling programs and compiling the results of mapping and channel sampling. Further exploration work will be contingent on the overall conclusion of the ongoing study.

New Dimension can earn an initial 70% property interest by spending $1.2 million in exploration expenditures, issuing 1.5 million shares and paying $100,000 on or before December 31, 2016. Lakeland holds the Property under option from local prospectors and can earn a 100% interest subject to a 2% NSR production royalty.

QA/QC

Assays quoted in this news release were performed at Accurassay Laboratories in Thunder Bay, Ontario, using fire assay preparation on 30-gram splits with atomic absorption finish. Samples returning over 10 grams per tonne of gold were re-assayed using fire assay preparation on 50-gram splits, with gravimetric finish. Accurassay is an independent analytical laboratory with ISO/IEC 17025 accreditation. Technical information in this news release was prepared by Steven Siemieniuk, P.Geo., a Qualified Person as defined in NI 43-101, who also supervised the drilling, logged the core and supervised the sampling of the core.

Midas Project - Background Information:

The Midas Project consists of 12 staked claims (139 units) covering 2,112 hectares within the Sault Ste. Marie Mining Division. The Property is road accessible and lies 20 kilometres southeast of Richmont Mines' Island Gold Mine complex and Argonaut Gold's Magino Gold Project.

Please click the following link to view a location map of the Midas gold property:
http://www.newdimensionresources.com/i/maps/midas/2013-09-16-Midas_Project_Regional.jpg

Sporadic exploration has been carried out in the Midas Project area, beginning in the 1940's, with most work completed in the late 1970's to 1990. Past exploration has included surface sampling, trenching airborne and ground geophysics and diamond drilling.

During the winter of 2011, Lakeland carried out ground magnetics and induced polarization in the southwestern area of the Property. To follow up this program they completed sixteen (16) diamond drill holes totaling 2,353 metres. The drilling was designed to test induced polarization anomalies and surface gold showings. Drilling partially defined two gold bearing zones (zones GZ-1 and GZ-2) with fourteen (14) of the holes reporting gold mineralization. Highlights of the drilling are summarized in the following table:

Midas Gold Project - Significant Drill Hole Intervals (2011)
Drill Hole From (metres) To (metres) Width (metres) Gold (g/t)
M-11-01 55.00 57.00 2.00 4.61
M-11-02 89.00 96.00 7.00 0.34
M-11-03 55.40 56.80 1.40 1.06
M-11-04 45.70 50.40 4.70 5.92
Including 46.70 49.30 2.60 8.88
M-11-05 21.00 22.00 1.00 1.34
28.90 30.90 2.00 7.03
M-11-08 56.50 57.50 1.00 2.39
M-11-09 59.20 61.00 1.80 4.04
M-11-14 36.50 38.50 2.00 1.92
Including 36.50 37.50 1.00 3.33
  • All results shown are over core lengths. True widths are not known;
  • Drill core was industry standards NQ in size. All split or sawn core samples from Phase 1 drilling were submitted to Swastika Laboratories of Swastika, Ontario for analysis; samples from Phase II drilling were submitted to Accurassay Laboratories of Thunder Bay, Ontario. All gold assaying was performed using a 30g standard fire assay with an AA and /or gravimetric finish.

About New Dimension Resources Ltd.:

New Dimension Resources Ltd. is engaged in the acquisition, exploration and development of quality exploration opportunities throughout the Americas. The Company has an option to earn a 70% interest in the Midas gold property in north central Ontario from Lakeland Resources Inc. and an option to earn up to a 100% interest in 13 properties located in the Yukon from Strategic Metals Ltd.

The information in this news release has been taken from a report prepared under Canadian regulatory requirements set out in National Instrument 43-101 and authored by Steven Siemieniuk, P.Geo., a Qualified Person under NI 43-101. This news release was also reviewed by Fred Hewett the Company's President & CEO, a director and a Qualified Person under NI 43-101.

ON BEHALF OF THE BOARD

NEW DIMENSION RESOURCES LTD.

Fred G. Hewett, P.Eng., President & CEO

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.

This news release may contain forward looking statements which are not historical facts, such as statements of belief of similarity of geological characteristics or features, statements of unverified drilling and sampling results and expectations of receipt of permits and plans for future work. Forward looking statements involve 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, unexpected geological factors, exploration results, results of verification work and unanticipated regulatory obstacles. 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.

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