VANCOUVER, March 4, 2019 /CNW/ - New Dimension Resources Ltd. (TSXV: NDR) (the "Company", or "New Dimension") is pleased to provide the following update on its ongoing exploration activities at its 100%-owned Sierra Blanca and Los Cisnes gold-silver projects in Santa Cruz Province, Argentina.
- Recent field mapping/sampling programs at both the Sierra Blanca and Los Cisnes Projects have successfully resulted in the discovery of three new high-grade gold-silver ("Au-Ag") epithermal vein zones –Tranquilo (Sierra Blanca), Bagual and Potranca (Los Cisnes).
- At Sierra Blanca (Figures 1-4), exploration activities have focused on drill target generation in the extensive NW-trending Ana, Tranquilo, and Laguna "vein fields" and have resulted in the discovery of previously unrecognised high-grade Au-Ag mineralisation at Tranquilo. Initial rock-chip sampling along the Tranquilo vein has returned assays ranging from geochemically anomalous to high-grade, with a best sample of 10 grams per tonne ("g/t") Au + 150 g/t Ag.
- At Los Cisnes (Figures 1 and 5-6), two new high-grade gold-silver vein zones (Bagual and Potranca) have been discovered immediately adjacent to the mineralised Brio structure. The NE-trending Bagual vein/breccia system is currently known to extend over some 900m in length, with select rock-chip samples taken along the vein having returned gold-silver assays ranging from geochemically anomalous to high-grade, with a best sample of 109 g/t Au + 1,031 g/t Ag. Gold and silver assays from the three rock-chip samples taken from the nearby N-S-trending Potranca vein zone range between 0.3 g/t and 5.6 g/t Au, and 7 g/t and 267 g/t Ag.
- Trenching is currently underway at both Los Cisnes and Sierra Blanca, with the primary objectives being to improve our geological understanding of the poorer-exposed portions of the principal veins and to test for potential extensions to the newly-discovered high-grade mineralisation.
Eric Roth, New Dimension's CEO, commented today: "I am very pleased to be reporting that exploration activities at our Sierra Blanca and Los Cisnes projects have led to the discovery of three previously-unrecognised, high-grade epithermal gold-silver vein zones: Tranquilo at Sierra Blanca, Bagual and Potranca at Los Cisnes. The new discoveries are located in the immediate vicinity of previously known mineralised veins, these being Chala-Achen and Lucila at Sierra Blanca and Brio at Los Cisnes. The emergence of these new discoveries continues to demonstrate the significant upside potential of our Santa Cruz portfolio, which we will continue to unlock through ongoing exploration and drill target generation activities".
Link to figures:
Sierra Blanca Project
The Sierra Blanca Project is an advanced, high-grade Au-Ag project located approximately 40km NW of AngloGold Ashanti's Cerro Vanguardia gold-silver mine. Previous exploration by Mariana Resources Ltd identified in excess of 22km of cumulative vein strike length at Sierra Blanca, however, many veins extend under post-mineralization cover and therefore total strike lengths are likely to be understated. Most of the previous work (completed pre-2012) at Sierra Blanca was focused on the E-W-trending Chala-Achen and Lucila vein systems, with high-grade silver values having been derived from surface trenching at Chala-Achen (including 9.4m @ 2,362 g/t Ag; source Mariana Resources Ltd). Significant gold-silver values were also derived from initial drilling at Chala-Achen, including [email protected] 9.5 g/t Au + 28 g/t Ag in drill hole CHD-61.
Recent field mapping/sampling programs at Sierra Blanca have been focused on the underexplored Ana, Tranquilo, and Laguna "vein fields", and have resulted in the discovery of previously unrecognised high-grade Au-Ag mineralisation at Tranquilo. Initial rock-chip sampling from along the Tranquilo vein has returned assays ranging from geochemically anomalous to high-grade, with a best sample of 10 g/t Au + 150 g/t Ag. In addition, extensive pathfinder element haloes (e.g. arsenic) exist around the principal veins and may be indicative of further high-grade precious metal mineralization in the sector. In addition to positive geochemistry, the orientation of these veins is particularly noteworthy, as in most precious metals deposits in the Deseado Massif northwest is the preferred structural orientation for the localization of high-grade precious metals shoots. Drill target definition continues at Sierra Blanca and will be achieved through a combination of low-cost geological mapping/sampling, vein texture analysis, and trenching.
Los Cisnes Project
Recent exploration activities have resulted in the successful definition of two new high-grade Au-Ag vein zones (Bagual and Potranca; Figures 5&6) at the Los Cisnes Project, which is located approximately 75km southwest of Yamana Gold Inc's high-grade Cerro Moro Au-Ag mine. The two newly discovered zones at Los Cisnes 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 known high-grade silver mineralization in the LCsD-09 sector (drill intercept of 2.9m @ 755 g/t Ag from 32.1m downhole), with the mineralised "shoot" currently remaining open at depth (see Company News Release dated July 26th, 2018).
The NE-trending Bagual vein/breccia system extends over some 900m in length and occurs near the geological contact between a rhyolite dome and ignimbrites. Initial sampling has returned gold-silver assays ranging from geochemically anomalous to high-grade, with a best sample of 109 g/t Au + 1,031 g/t Ag. The nearby Potranca vein is N-S-trending, currently known to be exposed over a strike length of 300m, and is hosted entirely within ignimbrites. Initial 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.
Additional mapping/sampling and trenching is currently 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.
Quality Assurance / Quality Control (QA/QC)
New Dimension applies industry-standard exploration sampling methodologies and techniques. All soil, stream, and rock samples are collected under the supervision of the Company's geologists and in accordance with best industry practices. All rock samples from the Sierra Blanca and Los Cisnes projects were 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