VANCOUVER, March 25, 2019 /CNW/ - New Dimension Resources Ltd. (TSXV: NDR) (the "Company", or "New Dimension") is pleased to report first assays from an exploration trenching program being undertaken at its 100%-owned Los Cisnes gold-silver project in Santa Cruz Province, Argentina (Figure 1). This first-pass program consists of 8 trenches and has focused on providing a more detailed evaluation of the newly-discovered, high-grade gold-silver vein/breccia systems at Bagual and Potranca. Assay results from the first 4 trenches at Bagual (T1-T4) have now been received and are reported in this release.
- High-grade gold-silver assays (37.5 g/t gold ["Au"] + 6 g/t silver ["Ag"] over 1.0 metre [m] and 9.7 g/t Au + 8 g/t Ag over 0.6m) were returned from two channel samples in Trench 1, which was cut perpendicular to the main Bagual structural corridor (see Figures 2-6). Trench 1 is also located approximately 20 m north-east of the Bagual "discovery" grab sample (which assayed 109 g/t Au + 1,031 g/t Ag; see Company News Release dated March 4, 2019). Gold-silver mineralisation in Trench 1 is associated with strongly-oxidized quartz-sulfide(-Fe-oxide)-bearing stockworks and breccia zones, and lies under <1m of post-mineral overburden (Figure 5).
- An additional high-grade gold assay (15.7 g/t Au + 4 g/t Ag over 0.6m) was returned from a channel sample cut in Trench 3, which is located approximately 210 m along the interpreted strike direction of the gold-silver mineralisation identified in Trench 1.
- Assays from the remaining 4 trenches at Los Cisnes (T5-T8) are still pending.
- Assay results from a further 16 trenches recently completed over the Ana, Ana Splay, Tranquilo and Laguna vein targets at the Sierra Blanca Project are also pending.
Eric Roth, New Dimension's CEO, commented today: "I am very pleased to be reporting that surface exploration activities at our Los Cisnes project continue to encounter high gold-silver grades in the Bagual vein/breccia structure. The Bagual discovery lies immediately to the southwest of the Brio vein/breccia system, which was drilled in 2018 and resulted in the definition of a down-dip extension to the high-grade silver-gold mineralisation in the LCsD-09 sector. The recently-discovered Bagual and Potranca vein/breccia systems represent clear targets for future drill testing, and open up the potential of the Los Cisnes project for the discovery of new "shoots" of gold-silver mineralisation.
The emergence of the two new discoveries at Los Cisnes, together with the latest results coming out of our Sierra Blanca project, also serve to demonstrate the significant upside potential of our Santa Cruz portfolio, which we intend to unlock through ongoing exploration and drill target generation activities".
Link to figures:
Los Cisnes Project Update
Recent exploration activities have resulted in the definition of two new high-grade Au-Ag vein zones (Bagual and Potranca) at the Los Cisnes Project, which is located approximately 75km southwest of Yamana Gold Inc's high-grade Cerro Moro Au-Ag mine.
The northeast-trending Bagual vein/breccia system extends over some 900m in length and occurs near the geological contact between a rhyolite dome and ignimbrites. Initial surface sampling had returned local hand lens visible gold and gold-silver assays ranging from geochemically anomalous to high-grade, with a best select grab sample of 109 g/t Au + 1,031 g/t Ag. Follow-up trenching has resulted in the successful definition of high-grade gold-silver mineralisation in both Trench 1 (37.5 g/t Au + 6 g/t Ag over 1.0 m and 9.7 g/t Au + 8 g/t Ag over 0.6m) and Trench 3 (15.7 g/t Au + 4 g/t Ag over 0.6m), with Trench 3 being located approximately 210 m along the interpreted strike direction from Trench 1. The gold-silver mineralisation identified in all trenches is associated with strongly-oxidized quartz-sulfide(-Fe-oxide)-bearing stockworks and vein/breccia zones.
The nearby Potranca vein is north-south-trending, is currently known to be exposed over a strike length of 300m, and is hosted entirely within ignimbrites. Initial surface sampling from the Potranca vein zone has returned high-grade gold and silver assays ranging between 0.3 g/t and 5.6 g/t Au, and 7 g/t and 267 g/t Ag, respectively. Assays from the three trenches completed at Potranca (T5-T7) are still pending.
The two newly discovered zones lie immediately to the southwest of the high-grade Brio structure, on which the Company completed a total of 16 diamond drill holes for 1,564m in 2018. The 2018 drill campaign successfully identified down-dip extensions to the high-grade silver mineralization identified in the LCsD-09 sector (drill intercept of 2.9m @ 755 g/t Ag from 32.1m downhole), with this mineralised "shoot" currently remaining open at depth (see Company News Release dated July 26th, 2018).
Additional mapping/sampling is also being undertaken at Bagual and Potranca in order to obtain a better understanding of both the geology of, and delineate potential lateral extensions to, the newly discovered mineralisation. The current interpretation is that the Bagual and Potranca mineralisation represent cross-cutting structures to the original Brio vein, which may have significant implications on the upside potential of the Los Cisnes property (particularly the high-grade mineralisation identified in the LCs-09 sector).
Quality Assurance / Quality Control (QA/QC)
New Dimension applies industry-standard exploration sampling methodologies and techniques. All soil, stream, and rock (including trench) samples are collected under the supervision of the Company's geologists and in accordance with best industry practices. Trench samples of vein material are cut utilising a gas-electric saw over intervals defined by the Company's geologists. All rock samples for geochemical analysis are subsequently dispatched to Alex Stewart's sample preparation facility in Puerto San Julian, with pulps subsequently being sent to the Alex Stewart's accredited analytical lab in Mendoza. All geochemical assays are subject to quality assurance / quality control programs using a combination of internationally-recognized standards, duplicates, and blanks, as provided by both Alex Stewart and the Company.
On Behalf of the Board of New Dimension Resources Ltd.
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-silver resources at its 100%-owned Las Calandrias, Los Cisnes and Sierra Blanca projects, all located in the highly prospective Deseado Massif of Santa Cruz Province, southern Argentina. The Company also holds an option to earn-in to a 100% interest in the Savant Lake gold project in Ontario, together with an active 29.56% JV interest (with Yamana Gold) in the Domain gold project in Manitoba.
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 over 25 years of experience in international minerals exploration and mining project evaluation.
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.
SOURCE New Dimension Resources Ltd.
For further information: New Dimension Contacts: Eric Roth, Email: [email protected]; Karen Davies, +1 604-314-2662