New Dimension Resources Ltd.
TSX VENTURE : NDR

New Dimension Resources Ltd.

November 22, 2010 08:00 ET

New Dimension Completes Exploration Program at Voisey's Bay, Labrador

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 22, 2010) - New Dimension Resources Ltd. (TSX VENTURE:NDR) (the "Company" or "New Dimension") is pleased to report that an exploration program ("the Program") has recently been completed by the Company at its Voisey's Bay nickel property (Project 61) in the province of Newfoundland and Labrador, Canada. 

The Voisey's Bay Property, held under a 63:37 joint venture with North Group Finance Ltd., is located approximately 44 kilometres southwest of the community of Nain, and surrounded by a much larger Vale Inco claim block. The Vale Inco property hosts one of the world's richest nickel mines which was discovered in 1995, and triggered a prolonged period of exploration in the area. The Company has continued to maintain its land position in the area, consisting of 10 contiguous claims, since that time as the property's geological setting contains significant similarities to the adjacent Vale Inco property.

Sampling Results

During the recent exploration program, a total of 36 rock channel samples were collected across three gossans zones, as reported below. 

  • A total of 25 samples were collected along a 24.7 metre long channel cut across the South Gossan. Six of the 25 samples were sulphide-rich, with one sample returning values of 0.93% nickel, 0.1% cobalt and 0.31% copper over a length of one metre. 
  • Three three-metre long samples collected across a second gossan to the west of the South Gossan returned weakly elevated levels of both nickel and copper. 
  • The remaining channel samples taken in the program tested a third gossan zone, also located to the west of the South Gossan. Highlights from the eight one-metre long samples taken here returned a maximum of 0.4% nickel and 0.23% copper.

Ten of the 36 samples collected from all three gossans returned only traces of nickel and copper.

The Program was conducted under the supervision of Spencer Vatcher, P. Geo. 

About New Dimension Resources Ltd.

New Dimension is engaged in the acquisition, exploration and development of quality mineral resource properties throughout the Americas with a focus on potentially significant bulk tonnage gold and silver deposits. The Company's exploration activities are presently focused on its Cenepa gold project, which covers one of the most attractive geological terrains within the highly prospective Cordillera del Condor mineral belt in northern Peru and southern Ecuador (http://media3.marketwire.com/docs/ndr-cenepa.jpg). This belt is host to Kinross Gold's FDN deposit, a NI 43-101 compliant Inferred Mineral Resource consisting of 58.9 million tonnes grading 7.2 g/t gold and 11.8 g/t silver and containing 13.7 million ounces of gold and 22.4 million ounces of silver, respectively. 

New Dimension also has recently acquired an option to earn a 100% interest in Strategic Metals' Gild gold property within a geological belt that the Company & Strategic Metals believes has the same characteristics as recent discoveries by ATAC Resources Ltd. ("ATAC") in the Yukon (http://media3.marketwire.com/docs/ndr-gild.pdf). Drilling on the ATAC Property has returned significant gold values, as demonstrated by announced intercepts of 9.25 g/t gold over 31.1 metres and 24.07 g/t gold over 28.4 metres from over 25,00 metres of diamond drilling in excess of 130 holes. An initial exploration program is scheduled to be carried out by the Company on the Gild Property as soon as spring weather conditions allow. Favourable results, subject to the receipt of all necessary permits, could result in a drill program in the fall of 2011.

The information in this news release has been prepared in accordance with Canadian regulatory requirements set out in National Instrument 43-101 and 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

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.

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.

Contact Information

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