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![]() | ![]() Cenepa Project New Dimension Resources Ltd. has attained an irrevocable right to acquire ten mining petitions situated in Peru along the Ecuador border on trend and to the south of Aurelian Resources Inc.'s Condor Project and the Fruta Del Norte gold discovery. The mining petitions totaling 10,000 hectares and cover the projection into Peru of a 20 kilometre long, north-south trending mineral belt that includes Fruta Del Norte. The Company has been notified by its Peruvian legal counsel that the claims are anticipated to be granted this spring. There has been very limited exploration work in Peru where the mineral trend crosses the border, but the area is geologically highly permissive for the discovery. Puma Dorado Project The Puma Dorado Project is located near the community of Querobamba in southwestern Peru. The Company has signed agreements to obtain a 100% interest in the property, which comprises two 1,000 hectare concessions that hosts a 1,700 metre long by 500 metre wide zone of massive magnetite with locally strong pyrite and disseminated chalcopyrite. Initial sampling by the Company, consisting of seven, one-to-three metre wide rock chip samples, reported values ranging from 0.50 to 3.2 g/t gold and from 0.26 to 7.8 % copper. The Company is currently in the process of carrying out additional field work to better define specific target areas and will, in due course, commence the permitting requirements necessary to conduct a preliminary drill program. Cori Puncho Project The Cori Puncho Gold Project is located in the Department of Puno, southern Peru. The property position covers the majority of a major north-northwest trending structural zone that can be traced for over five kilometers and is comprised of steeply easterly dipping volcanics and sediments mineralized with pyrite and specular hematite. A Phase 1 drill program, completed in May 2006, is highlighted by results that include 2.14 g/t gold over 26 meters. The Company has elected to seek a joint venture partner for the next phase of work on the Cori Puncho project. Magma Project NDR staked the Magma claims in 1999, during the relatively early days of the Esquel Gold Project, which is now owned by Yamana Gold. The two claims total 5,000 hectares in size and were located to cover the projected strike extensions of known mineralization on the Esquel mineral trend. At last report, the measured and indicated resources of Esquel stand at 3,276,000 ounces gold and 5,866,000 ounces of silver with 75% of this grading in excess of 10.5 g/t gold and 18.2 g/t silver. Recent local concerns have slowed the project, but the economics of Esquel remain favorable. |
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