Three Separate Exploration Programs Underway at Turk Mine
- Three separate underground exploration programs at Turk and Angelus
mines aimed at increasing New Dawn's gold resources
- Exploration has commenced in a new area located west of the Armenian
Shaft - 100 meters of new strike identified
- The exploration drift on 14 Level is advanced and the first
underground drilling rig to test for gold mineralization at depth in
the MVS - Armenian section has commenced
- Second phase exploration drilling work at Angelus Mine has started
- 100% of exploration costs to be funded from operating cash flow
generated from gold production and sales from Turk Mine
TORONTO, May 18 /CNW/ - New Dawn Mining Corp. (TSX: ND) announced that it has commenced three separate exploration programs at its Turk and Angelus mine complex in Zimbabwe aimed at increasing the Company's gold resource base.
100% of exploration costs are expected to be funded from operating cash flow from gold sales generated from gold produced and sold from the Company's Turk Mine.
New Dawn's Turk and Angelus mine complex is comprised of three separate mine shafts -- the Main vertical shaft, the Armenian shaft to the west, and the Angelus shaft to the east. The Turk and Angelus mine complex is estimated to have the potential to produce approximately 35,000 to 50,000 ounces of gold per annum at full capacity.
Batyali Section Exploration Zone
Two recently completed exploration drifts on the 7+5m Level horizon and 11 Level horizon confirm the continuation of the Turk Mine multi lode reef system beyond the Armenian shaft. A two phase underground diamond drilling program has now been designed and has commenced in the area west of the Armenian shaft. The two phase program has been designed to cover the area from 4 Level and 12 Level along the approximately 100 meters of newly identified strike. The new strike is open to the west, and additional exploration drift work is planned to test the continued length of the extension.
Cross Section of the Turk and Angelus Mine Complex
To view map, please visit: http://files.newswire.ca/880/NewDawnMap0518.pdf
The area at Batyali that New Dawn is now exploring is approximately 240 meters in down dip depth, with 100 meters of strike having average reef width of approximately 2.5 to 3.5 meters, and a specific gravity of 2.7. Based upon 4 of the 6 lodes payable, the section is expected to contain approximately 650,000 to 900,000 tonnes of mineralized material.
New Dawn expects this first phase of the drilling to be completed in the quarter ended September 30, 2010, and Phase 2 of the program is expected to start soon thereafter.
MVS - Armenian Section Exploration Zone
Additionally, in the central portion of the Turk Mine, near the Main Vertical Shaft, a 14 Level access development drift of 150 meters has been completed and the first drill station has been cut. This drift has been designed to test for mineralization at depth between 12 Level and Level 16 in the area west of the current MVS section towards the Armenian section of the mine. New Dawn intends to continue to develop the exploration drift a further 350 meters west until it is in line with the Armenian shaft. Drill platforms will be established every 30 meters along the exploration drift.
The area at MVS - Armenian section that New Dawn is now exploring is approximately 100 meters in down dip depth, with 200 meters of strike having average reef width of approximately 2.5 to 3.5 meters, and a specific gravity of 2.7. Based upon 4 of the 6 lodes payable, the section is expected to contain approximately 550,000 to 750,000 tonnes of mineralized material.
The first drill rig has been mobilized and is drilling.
Angelus Section Exploration Zone
New Dawn has also commenced Phase 2 of its previous outlined exploration program at the Angelus Mine on the eastern proportion of its Turk mine land holdings.
The area at the Angelus section that New Dawn is now exploring is approximately 90 meters in down dip depth, with 100 meters of strike having average reef width of approximately 2.5 to 3.5 meters, and a specific gravity of 2.7. Based upon 3 of the 6 lodes payable, the section is expected to contain approximately 180,000 to 250,000 tonnes of mineralized material.
"Over the past several months New Dawn has advanced three independent exploration programs at its Turk and Angelus mine complex that are intended to not only add to our existing gold resource base, but may also add a fourth operating section to the mine complex," reported Ian R. Saunders, President and CEO.
About New Dawn ...
New Dawn is a Zimbabwe-focused junior gold company currently expanding gold production at its Turk and Angelus Mines, exploring for gold, and identifying and pursuing other development projects, as well as actively assessing other value accretive acquisition opportunities in Zimbabwe.
New Dawn owns and operates the Turk and Angelus Mines in the upper southwest area of Zimbabwe that has the potential to produce an estimated 35,000 to 50,000 ounces of gold per annum. New Dawn owns the property outright on which these mines are located.
Currently, a production facility capable of processing up to 580 tonnes per day or 17,500 tonnes per month is in place and operating. The Company maintains a highly experienced work force at Turk Mine of over 950 people.
Additionally, the Company has a portfolio of exploration properties in Zimbabwe that includes the Consolidated Bubi Gold Fields and Consolidated Shurugwi Gold Fields properties.
Further information on New Dawn's gold reserves and resources can be obtained at the Company's website at www.newdawnmining.com or in the Company's filings on SEDAR at www.sedar.com.
The TSX has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release. Statements in this press release regarding the Company's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements.
The contents of this news release were supervised and reviewed by Ian R. Saunders, B.Sc., who is President, Chief Executive Officer, and a Director of New Dawn Mining Corp., and who is a Qualified Person within the meaning of NI 43-101.
Special Note Regarding Forward-Looking Statements: Certain statements included or incorporated by reference in this news release, including information as to the future financial or operating performance of the Company, its subsidiaries and its projects, constitute forward-looking statements. The words "believe," "expect," "anticipate," "contemplate," "target," "plan," "intends," "continue," "budget," "estimate," "may," "schedule" and similar expressions identify forward-looking statements. Forward-looking statements include, among other things, statements regarding targets, estimates and assumptions in respect of gold production and prices, operating costs, results and capital expenditures, mineral reserves and mineral resources and anticipated grades and recovery rates. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors could cause the Company's actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, the Company. Such factors include, among others, risks relating to reserve and resource estimates, gold prices, exploration, development and operating risks, political and foreign risk, uninsurable risks, competition, limited mining operations, production risks, environmental regulation and liability, government regulation, currency fluctuations, recent losses and write-downs and dependence on key employees. See "Risk Factors" in the Company's Annual Information Form - 2009. Due to risks and uncertainties, including the risks and uncertainties identified above, actual events may differ materially from current expectations. Investors are cautioned that forward-looking statements are not guarantees of future performance and, accordingly, investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein. Forward-looking statements are made as of the date of this press release and the Company disclaims any intent or obligation to update publicly such forward-looking statements, whether as a result of new information, future events or results or otherwise.
SOURCE New Dawn Mining Corp.
For further information: For further information: Investor Relations Contact: Richard Buzbuzian, (416) 585-7890; President and Chief Executive Officer: Ian R. Saunders, (416) 585-7890; Visit us on the internet: http://www.newdawnmining.com, or E-mail us at: firstname.lastname@example.org