TSX-V: NDR
VANCOUVER, Feb. 24, 2020 /CNW/ - New Dimension Resources
Ltd. (TSXV:NDR) (the "Company", or "New Dimension") notes Yamana
Gold Inc.'s (TSX:YRI; NYSE:AUY) (or "Yamana") recent announcement
in which it provides an update for exploration activities on
its pipeline of highly-prospective gold projects, including the
Domain Joint Venture ("JV") in Manitoba. The Domain JV is held 70.4% by
Yamana and 29.6% by New Dimension, with Yamana being the Project
Operator (Figure 1).
The Domain JV claims total 576 hectares and cover an area in
which 62 holes / 9,660m of historic
drilling have been completed and which successfully delineated
significant high-grade iron formation-hosted gold mineralization.
Notable intercepts from this drilling include: RR-08-23, 2.65
metres ("m") at 17.44 grams per tonne ("g/t") of gold ("Au") and
2.67m at 10.43 g/t Au; RR-08-21,
2.70m at 15.16 g/t Au; and RR-08-20,
9.0m at 7.29 g/t Au (see Company News
Release dated June 12, 2017). True
widths are estimated to be 80-100% of core length based on limited
drilling.
Drilling to date has been focused on the "Main Zone", where
high-grade iron formation-hosted gold mineralization has been
partially tested along some 800m of
strike and remains open at both depth and along strike (Figures 2
and 3). The "Main Zone" mineralization lies on a prominent,
northwest-trending HLEM (Horizontal Loop ElectroMagnetic) anomaly,
and a combined strike length of approximately 5km of HLEM anomalies
remain to be tested within the Domain JV area. Drilling of HLEM
conductors during the last drill program in the winter of 2017 was
successful in discovering additional gold mineralization.
Yamana comments that they will continue to engage with the
Bunibonibee Cree Nation in 2020 in an effort to reach a mutually
beneficial agreement supporting the advancement of exploration
within this large, prospective land package.
Yamana considers the Domain project to be a "Tier Two" project,
which are defined as being "Projects that have achieved significant
drill intercepts and whose geology along with other factors support
rapid resource growth". NDR holds a participating 29.6% interest in
the Domain JV, however, retains the option to dilute its interest
should it elect not to participate in any program proposed by
Yamana. In the event that NDR's direct interest in the project
should fall below 10%, it would revert to a 1% Net Smelter
Royalty.
Eric Roth, New Dimension's CEO,
commented today: "We are very pleased to be reporting that Yamana
is continuing to evaluate the Domain JV area. Considering the
significant amount of drilling that has been completed at Main
Zone, together with the potential for new discovery, we feel
strongly that the project has the potential to grow rapidly. I look
forward to keeping the market informed on progress at Domain".
Link to figures:
https://newdimensionresources.com/site/assets/files/13136/2020_02_domain_update_figures.pdf
Qualified Persons and Disclosure Statement
The technical information in this news release has been prepared
in accordance with Canadian regulatory requirements set out in NI
43-101, and approved by Eric Roth,
the Company's President & CEO, a director and a Qualified
Person under NI 43-101. Mr. Roth holds a Ph.D. in Economic
Geology from the University of Western
Australia, is a Fellow of the Australian Institute of Mining
and Metallurgy (AusIMM), and is a Fellow of the Society of Economic
Geologists (SEG). Mr. Roth has more than 25 years of experience in
international minerals exploration and mining project
evaluation.
On Behalf of the Board of New Dimension Resources Ltd.
"Eric Roth"
___________________________
Eric Roth, Ph.D., FAusIMM
President
& CEO
About New Dimension Resources
New Dimension is engaged
in the acquisition, exploration, and development of quality mineral
resource properties throughout the Americas, with a focus on
high-grade precious metals deposits. The Company's current
focus is on the discovery of new high-grade gold resources at the
drill-ready and 100%-owned Savant
Lake (Canada) and
Sierra Blanca (Argentina) projects. The Company also
continues to evaluate strategic alternatives for the 100%-owned Las
Calandrias and Los Cisnes projects in the highly prospective
Deseado Massif of Santa Cruz
Province, southern Argentina, as well as its 29.6% Joint Venture
interest with Yamana Gold in the Domain gold project in
Manitoba.
Cautionary Notes and Forward-looking
Statements
This news release contains forward-looking
information within the meaning of applicable securities
legislation. Forward-looking information is typically
identified by words such as: believe, expect, anticipate,
intend, estimate, postulate and similar expressions, or are those,
which, by their nature, refer to future events. Such
statements include, without limitation, statements regarding the
future results of operations, performance and achievements of New
Dimension, including the timing, completion of and results from the
exploration and drill programs described in this release.
Although the Company believes that such statements are
reasonable, it can give no assurances that such expectations will
prove to be correct. All such forward-looking information is
based on certain assumptions and analyses made by New Dimension in
light of their experience and perception of historical trends,
current conditions and expected future developments, as well as
other factors management believes are appropriate in the
circumstances. This information, however, is subject to a variety
of risks and uncertainties and other factors that could cause
actual events or results to differ materially from those projected
in the forward-looking information. Important factors that could
cause actual results to differ from this forward-looking
information include those described under the heading "Risks and
Uncertainties" in New Dimension's most recently filed MD&A. New
Dimension does not intend, and expressly disclaims any obligation
to, update or revise the forward-looking information contained in
this news release, except as required by law. Readers are cautioned
not to place undue reliance on forward-looking information.
Neither the TSXV nor its Regulation Services Provider (as
that term is defined in the policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this
release.
View original
content:http://www.prnewswire.com/news-releases/yamana-gold-provides-update-on-domain-joint-venture-manitoba-301009195.html
SOURCE New Dimension Resources Ltd.