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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

New Dimension Receives Title Confirmation for Cenepa Project Concessions, Northern Peru

20/10/2009 3:58pm

Marketwired Canada


New Dimension Resources Ltd. (TSX VENTURE:NDR) (the "Company" or "New
Dimension") is pleased to provide an update on the Cenepa Project which covers
one of the most attractive geological terrains in northern Peru; adjacent to the
Fruta Del Norte gold deposit held by Kinross Gold Corp. (Kinross) (please click
to view map:
http://www.newdimensionresources.com/i/maps/Cenepa/Cenepa_Project.jpg).


The Company has recently been advised by its Peruvian legal council that title
confirmation has been received on four of the Cenepa concessions, with title for
the remaining six concessions anticipated shortly. This confirmation allows the
procedure for the necessary permits required for exploration to commence. 


The Cenepa Project is comprised of ten mining concessions totaling approximately
9,000 hectares in northern Peru along its border with Ecuador. The concessions,
staked by Minera NDR Peru SAC in 2006, cover the projection of a 20 kilometre
long north-south trending mineral belt that includes the Condor Project and the
Fruta Del Norte gold discovery. The Condor Project is situated in Equador near
the Peruvian border and was acquired by Kinross in September of 2008 through the
acquisition of Aurelian Resources Inc. The Kinross property includes a NI 43-101
compliant Inferred Mineral Resource at Fruta Del Norte consisting of 58.9
million tonnes grading 7.23 g/t gold and 11.8 g/t silver for 13.7 million ounces
of contained gold and 22.4 million ounces of contained silver. Also within the
Condor Project is the Aquas Mesas Sur prospect which includes an announced drill
intercept of 51.06 g/t gold over 9.2 metres. This prospect is the southern most
known gold occurrence within this newly emerging gold belt and is located only
five kilometers north and on trend with the Company's Cenepa concessions.
Although there has been very limited exploration work in Peru where the mineral
trend crosses the border, the area is geologically highly permissive for
discovery.


During the government title confirmation process for the Cenepa Project, title
to certain concessions was challenged by an individual who unduly delayed the
approval procedure. This process is now finally drawing to an end and the
Company is extremely pleased to be able to initiate its plans for the Cenepa
Project.


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 New Dimension's filings for a more detailed
discussion of factors that may impact expected results.


This news release does not constitute an offer to sell or solicitation of an
offer to sell any securities in the United States. The securities have not been
and will not be registered under the United States Securities Act of 1933, as
amended (the "U.S. Securities Act") or any state securities laws and may not be
offered or sold within the United States or to U.S. Persons unless registered
under the U.S. Securities Act and applicable state securities laws or an
exemption from such registration is available.


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