New Dimension Resources Commences Airborne Geophysical Program at Savant Lake Gold Project, Northwestern Ontario
New Dimension Resources Ltd. (TSXV: NDR) (the “Company” or “New Dimension”) is pleased to announce the commencement of an airborne geophysical program (the “Program”) on the Company’s newly acquired 83.5 square kilometre Savant Lake gold property (the “Property”).
“We are excited to begin this airborne geophysical survey over our Savant Lake gold project,” said Fred Hewett, President and CEO of New Dimension. "We anticipate the results of this program will identify new drill targets and improve our geologic understanding of the property.”
The Program’s flight pattern is designed to identify possible gold bearing sulfide horizons within favourable structural environments developed in iron formation stratigraphy. The total proposed survey of 925 line-kilometers covers an area of approximately 90 square kilometers and is expected to take between one and two weeks to complete. Data processing and modelling will follow with fully interpreted results available in June. The Program will include the use of a VTEM Plus (Versatile Time Domain Electro Magnetic) system, which is considered the most innovative and successful airborne electromagnetic system currently being utilized in the industry. The VTEM Plus system is expected to detect potentially gold bearing sulfide conductors hosted within the property extensive iron formation occurrences.
About Savant Lake Gold Project
Located approximately 240 kilometres northwest of Thunder Bay, Ontario, the Savant Lake Project covers a classic iron formation hosted system of gold occurrences within the Savant Lake Greenstone Belt. The Property, which has not been significantly explored since the early 1980’s, hosts multiple gold showings that have yielded high grade values up to 138.9 g/t in outcrop. New Dimension was attracted to the Savant Lake Property for its gold in iron formation characteristics that seem analogous to Goldcorp's neighbouring Musselwhite gold mine and Agnico Eagle’s newly discovered Amaruq deposit in Nunavut. 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 focus on potential bulk tonnage gold and silver deposits. The Company is currently focused on mineral projects in Canada with Savant Lake its main priority. 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
For further information please contact Fred Hewett or
Chris Curran at (778-237-1463) or Wayne Johnstone at (604-563-4807)
** INTERNET ADDRESS: www.newdimensionresources.com ** Email: firstname.lastname@example.org
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.