May 16, 2017
New Dimension Updates Savant Lake Program
New Dimension Resources Ltd. (TSXV: NDR) (the "Company" or "New Dimension") announces results of its Phase I drill program on its Savant Lake Gold project located approximately 240 kilometres northwest of Thunder Bay, Ontario.
The initial drill campaign was designed to test eight of eighteen targets prioritized on the basis of the 2016 airborne geophysical and ground exploration programs. Eight diamond drill holes totaling 1,626 metres were completed as a preliminary test of two types of geophysical conductors interpreted to represent either iron-formation or sulfide bodies. Six of the eight holes completed intersected permissive lithologies, favourable alteration types, and zones of significant sulphide mineralization.
Table 1: 2017 Winter Drill Program Results, Savant Lake Property
The program established that there is a poor correlation between gold and overall sulfide content within iron formation, highlighting the importance of testing known large magnetic 'highs'. There are at least five identified and thus far untested gold occurrences located within iron formation with strong magnetic signatures but no electromagnetic response. These gold-in-rock geochemical anomalies occur at fold noses where iron-formation thicknesses normally increase with resultant improved ground conditions for the potential introduction of mineralizing solutions. The drill testing of these, along with additional detailed geological mapping and surface geochemistry will be key considerations as the Company continues its assessment of the Project and undertakes next steps. The Company believes that many of the Project's best targets remain untested (see map: Savant Lake project 2017 Drill Hole Locations and Targets).
Quality Assurance & Quality Control:
The 2017 winter drill program was managed by Equity Exploration Consultants. Drill core was logged and sampled under the supervision of Qualified Persons as defined by the National Instrument 43-101 ("NI 43-101"). Geological logging and sampling was conducted on-site. Half core samples were sent to ALS Minerals in Thunder Bay, Ontario for assays. The remainder half core has been retained in sequence on site for future reference. Samples split for assays were individually tagged and sealed in marked bags, and sealed in large sacks with a unique identifier tag. All samples are analysed for gold by fire assay with an atomic absorption finish on a 30 g aliquot and for multiple trace elements by ICP-AES (inductively couple plasma-atomic emission spectroscopy). Control samples (accredited standards, blanks and duplicate samples at the field and preparation stages) were inserted on a regular basis. Results were monitored upon receipt of assays.
About Savant Lake
The Savant Lake property covers a classic iron formation setting with associated gold occurrences within a prospective greenstone belt in northwestern Ontario. The property hosts multiple gold occurrences that have returned values as high as 138.9 g/t gold from exposed outcrops. Savant Lake is accessible all seasons, boasts excellent access and infrastructure, and proximity to the CNR main line. The Company believes the geologic setting at Savant Lake is analogous to Goldcorp's Musselwhite Mine (located some 200 km to the north), as well as Agnico Eagle's Meadowbank Mine and newly discovered Amaruq deposit in Nunavut.
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 gold and silver deposits. The Company's current priority is the Savant Lake gold property but is also reviewing other opportunities in Canada.
The technical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in NI 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
Nancy Curry at (604-220-2971) or Fred Hewett/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.
You can view the Next News Releases item: Mon Jun 12, 2017, Drilling Intersects 4.1 metres of 7.09 g/t gold on New Dimension's Domain Gold Project
You can view the Previous News Releases item: Mon Apr 10, 2017, New Dimension Completes Initial Drill Program at Savant Lake
You can return to the main News Releases page, or press the Back button on your browser.