New Dimension Resources Significantly Expands Land Position at Savant Lake Gold Project, Northwestern Ontario
New Dimension Resources Ltd. (TSXV: NDR) (the "Company" or "New Dimension") is pleased to announce a significant expansion of the Company's Savant Lake gold property (the "Property") via strategic staking of 104.3 square kilometres of contiguous claims. The expanded claim position represents a 125% increase to the now 187.8 square kilometre property. The new claims were acquired to cover additional high priority, preliminary airborne geophysical anomalies that lie outside of or overlap the boundaries of the original claim block. The targets were derived from a 925 line kilometre VTEM airborne geophysical program recently conducted over the property. See below or click on the following link to view map of the Project’s new staked claims.
"While final data processing and interpretation continues, the preliminary results from the airborne survey have outlined numerous anomalies and emerging trends," stated Fred Hewett, President and CEO of New Dimension. "This massive expansion to the Savant lake project secures New Dimension's solid position in this exciting new district."
The completed airborne geophysical survey was designed to identify possible gold-bearing sulfide horizons and favourable structural environments within iron formation stratigraphy of the Savant Lake Greenstone Belt. The survey will also potentially identify precious metal-rich volcanogenic massive sulphide (VMS) deposits. Final data processing and interpretation of the airborne geophysics is underway and results are expected in the coming weeks.
The newly staked claims are situated within the Area of Influence (AOI) of the Savant Lake Option Agreement (as referenced in the Company's press release dated April 5, 2016) and are thus subject to existing terms of this Agreement wherein the Company can earn a 100% interest in the Savant Lake Property by paying the vendors C$100,000 and issuing 600,000 shares of New Dimension over a four year period. The Property is subject to a 2% NSR, of which one percent (1%) can be purchased for C$1,000,000.
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 current focus on the Savant Lake project. New Dimension also holds a 30% interest in a joint venture with Yamana Gold Inc. on the Domain gold property in northern Manitoba as well as an option to earn a 70% interest in the Midas gold property, located in north central Ontario.
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 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"
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.