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NDR New Dimension Resources Ltd

0.08
0.00 (0.00%)
02 Aug 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
New Dimension Resources Ltd TSXV:NDR TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.08 0.075 0.085 0 01:00:00

Calibre Mining Returns Trend Project to New Dimension

10/11/2008 10:00pm

Marketwired Canada


New Dimension Resources Ltd. ("New Dimension" or the "Company") (TSX
VENTURE:NDR) has been informed by Calibre Mining Corp. (Calibre) that it is
terminating its option to acquire the Company's Trend Project located in
north-central Nevada. Calibre has met the minimum expenditure requirements on
the property of US$500,000 in the first year of the agreement as required by the
option agreement.


Work on the project by Calibre included the re-evaluation of all previous
property data, surface soil sampling and diamond drilling. The surface soil
sampling program was conducted with the objective of testing coincident pH and
geochemical soil anomalies across interpreted splays of the Cortez fault within
the Battle Mountain - Eureka mineral belt. The data from this surface work
supported the existence of structural zones that can be projected southerly from
the Cortez Hills gold deposit that lies on-trend only 10 kilometres to the
north. Calibre tested this target type at the northern end of New Dimension's
claim block with four diamond drill holes totaling 1,524 metres.


The majority of gold mineralization within the Battle Mountain - Eureka mineral
belt is hosted by "lower plate" silty carbonaceous sedimentary rocks. Calibre's
drilling encountered varied thicknesses of alluvial cover with three of the four
drill holes intersecting bedrock. Hole TR0801 was lost after penetrating 30
metres into bedrock, while holes TR0803 and TR0804 intersected significant
intervals of "upper plate" chert and argillite. The drilling did encounter
anomalous gold, silver and zinc but not of an appreciable thickness or grade.
Moderate to strong silicification with disseminated pyrite was common through
long intervals of argillite in each of the drill holes.


The Company appreciates Calibre's highly professional evaluation of the Trend
Project and regrets that they have elected to return the property to New
Dimension. The project represents a large land position covering an important
segment of the northwest striking Battle Mountain-Eureka mineral belt and the
majority of the claim block has seen little or no exploration. The Trend Project
adjoins the southern end of the Cortez property owned by Barrick Gold Corp. that
hosts numerous Carlin style gold deposits. Reported gold reserves/resources on
the Cortez property exceed 20 million ounces of gold. The Company will assess
the results of Calibre's exploration program before seeking another joint
venture partner to move the property forward.


The technical information in this news release has been prepared in accordance
with Canadian regulatory requirements set out in National Instrument 43-101 and
reviewed by Thomas Burkhart, the Company's Vice President of Exploration, a
director and a Qualified Person under NI 43-101.


ON BEHALF OF THE BOARD

NEW DIMENSION RESOURCES LTD.

Fred G. Hewett, P.Eng., President & CEO

This news release may contain forward looking statements which are not
historical facts, such as ore reserve estimates, anticipated production or
results, sales, revenues, costs, or discussions of goals and exploration
results, and involves 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, metal price volatility,
volatility of metals production, project development, ore reserve estimates,
future anticipated reserves and cost engineering estimate risks, geological
factors and exploration results. See the Company's Sedar filings for a more
detailed discussion of factors that may impact expected results.


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