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Drilling Extends High-Grade Gold Mineralization at Las Calandrias; Mineral Resource Update Nearing Completion

 

 

 

 

 

New Dimension Resources Ltd. (TSX-V: NDR) is pleased to report results from the Phase I diamond drill program targeting high-grade gold and silver mineralization at its 100%-owned Las Calandrias Project (Figure 1).

 

 

This represents the first drill program to be undertaken at Las Calandrias since New Dimension’s acquisition of the Santa Cruz Portfolio from Sandstorm Gold Ltd (TSX: SSL, NYSE: SAND) in May 2018.

 

 

An updated Mineral Resource Estimate for the Las Calandrias Project is currently underway and remains on-track for completion during the second half of September 2018.

 

 

Highlights

 

A total of 25 diamond drill holes for 3,695m were completed at the Las Calandrias Project. Drilling was primarily focused on extending known high-grade gold mineralization at the Calandria Norte and Morena vein/breccia zones (Figures 2 & 3). All drill holes successfully intersected their respective target structures.
Calandria Norte
  Successfully intersected high-grade gold mineralization outside of the northern limit of the existing mineral resource. Assays received to date include:
    CND04:        4m @ 11.0 g/t Au + 49 g/t Ag from 58m downhole (approx. true width 3.0m)
Including 0.5m @ 55.6 g/t Au + 230 g/t Ag from 60.2 m downhole
  CND04 represents a 35m step-out from existing drill hole CND-134 (3.6 m @ 7.7 g/t Au + 10 g/t Ag)
Morena vein/breccia zone, located 250m NW of the Calandria Norte structure.
  Assays returned from step-out drill hole CAL18-12 included:
    CAL18-12:  4.2m @ 6.9 g/t Au + 13 g/t Ag from 18.8m downhole (approx. true width 3.2m)

Including 1.6m @ 12.0 g/t Au + 22 g/t Ag from 19.7 m downhole

  Results from CAL18-12 extend known gold mineralization 50m to the SW of existing drill hole CND250 (2.5m @ 5.8 g/t Au + 48.5 g/t Ag).
Drilling completed to date indicates a significant new gold-silver zone developing in the Morena vein/breccia system. Initial drilling has focused on the southern end of the Morena structure, with at least 300m of northern strike extent interpreted to remain for drill testing.

 

 

 

Eric Roth, New Dimension’s CEO, commented today: “I am pleased to be able to report that our Phase I drill program at the Las Calandrias Project has successfully intersected extensions to known high-grade gold and silver mineralization in both the Calandria Norte and Morena vein/breccia zones. In particular, the adjacent Morena zone retains significant potential for expansion to both the north and south.”

 

Link to figures: https://newdimensionresources.com/site/assets/news/2018-09-13-nrm-ndr-8whgvc.pdf

 

 

Las Calandrias Project Overview and 2018 Drill Results

 

 

The primary focus of the 2018 drill program at Las Calandrias was to extend known high-grade mineralization at both the Calandria Norte and Morena vein/breccia zones. A total of 25 drill holes were completed, and all successfully intersected their respective target structures.  Summaries of the assay results received and technical data for the 2018 drill holes are given in Tables 1 and 2, respectively.

 

 

At Calandria Norte, drilling in the CND-04 area (4m @ 11 g/t Au + 49 g/t Ag from 58m downhole; Figure 4) successfully intersected high-grade gold-mineralization outside the current mineral resource envelope (Indicated Category of 49,000 gold equivalent (“AuEq1“) oz @ 9.35 g/t AuEq using a 3 g/t AuEq cut-off; further details in News Release dated February 20, 2018).  These results will be included in the mineral resource update for Las Calandrias, which is due for release during the second-half of September 2018 

 

 

Eight drill holes were completed in the Morena vein/breccia system, with results indicating the potential for the development of a significant new gold-silver zone. To date, drilling in Morena has been focused on the southern end of the Morena structure, with at least 300m of northern strike extent interpreted to remain for drill testing. Step-out drill hole CAL18-12 (4.2m @ 6.9 g/t Au + 13 g/t Ag: Figure 5) successfully extended known mineralization intersected by a previous operator in CND250 (2.5m @ 5.8 g/t Au + 48.5 g/t Ag).  Drill results from this program suggest a more northerly strike to the Morena system than previously expected.

 

 

Mineralized intercepts at both Calandria Norte and Morena are typically defined by mixed oxide and sulfide (pyrite-marcasite) mineralization to depths around 40m vertically below surface, with sulfides (pyrite-marcasite) dominating below 40m (Figure 6). Mineralization at both Calandria Norte and Morena is hosted in a rhyolite dome which has been emplaced in a thick volcaniclastic rock sequence.

 

 

Table 1. Summary of assay results for Las Calandrias 2018 drilling

 

 

Calandria Norte drill holes

 

 

Drill Hole From

(m)

To (m) Intercept

 (m)

True Width

(m)*

Au

 g/t

Ag g/t Comments
CND04 58.0 62.0 4.0 3.0 11.0 49 Calandria Norte
including 60.2 60.7 0.5 0.4 55.6 230
CND06 141.25 142.2 0.95 0.7 1.4 2 Calandria Norte
CND248 NSR           Calandria Norte
CAL18-01 300.0 301.0 1.0 0.8 3.2 10 Calandria Norte
and 337.0 337.5 0.5 0.4 3.0 38
CAL18-03 114.9 115.7 0.9 0.6 3.5 9 Calandria Norte
CAL18-04 162.5 164.0 1.5 1.1 3.9 64 Calandria Norte
CAL18-06 56.0 63.0 7.0 5.3 0.4 2 Calandria Norte
CAL18-07 24.0 27.0 3.0 2.3 0.5 1 Calandria Norte
CAL18-08 NSR           Calandria Norte
CAL18-09 187.5 188.5 1.0 0.8 3.5 5 Calandria Norte
CAL18-10 132.0 132.7 0.7 0.5 1.8 3 Calandria Norte
CAL18-11 59.0 68.6 9.6 7.2 0.6 3 Calandria Norte
and 107.6 113.0 5.4 4.1 0.6 2
including 107.6 108.0 0.4 0.3 3.6 14
CAL18-17 86.5 87.0 0.5 0.4 3.0 0 Calandria Norte
CAL18-18 43.8 44.3 0.5 0.4 2.3 30 Calandria Norte
CAL18-19 46.1 47.0 0.9 0.7 0.6 4 Calandria Norte

 

 

Morena drill holes

 

 

Drill Hole From

(m)

To (m) Intercept

(m)

True Width

 (m)*

Au g/t Ag g/t Comments
CAL18-02 133.0 134.0 1.0 0.8 3.8 1 Morena
CAL18-05 NSR           Morena
CAL18-12 18.8 23.0 4.2 3.2 6.9 13 Morena

step out

including 19.7 21.3 1.6 1.2 12.0 22
CAL18-13 100.0 101.0 1.0 0.8 2.2 6 Morena
CAL18-14 44.1 44.7 0.6 0.5 1.2 9 Morena
CAL18-15 NSR           Morena
CAL18-16 125.0 125.5 0.5 0.4 5.1 1 Morena

 

*True widths are calculated using both the dip of the drill hole and estimated dip of the mineralized zone. 

 

1 AuEq oz are calculated by New Dimension with reference to a cut-off grade of 0.3 AuEq/t for oxide and transition material, and 0.7 AuEq/t for primary, and by multiplying mineralized tonnes by gold equivalent grade, dividing by 31.1, and assuming 100% metallurgical recovery.      

 

Las Calandrias Mineral Resource Update

 

 

Ontario-based consulting group AGP Mining Consultants Inc. reports good progress on the updated Mineral Resource Estimate (MRE) for the Las Calandrias Project.  This MRE will incorporate assay data from both historical and current drilling at Las Calandrias, and remains scheduled for release during the second half of September 2018.

 

 

Drill Target Generation

 

 

Despreciada Vein

 

 

Drill target generation work on the 1.3km long Despreciada vein zone, a multiphase epithermal vein system located approximately 500m NW of the Morena structure, also continues in parallel. Surface sampling along the Despreciada vein by a previous operator returned gold and silver values ranging from below detection limit to 106 g/t gold and 510 g/t silver. The Despreciada vein zone also lies with the surface rights (“estancia”) owned by the Company, and therefore represents an immediate priority for further work.  

 

Sierra Blanca and Regional Prospects

 

 

With the finalization of the Patagonian winter, drill target generation activities at the Company’s 100%-owned Sierra Blanca Project resumed in earnest.

 

 

Table 2. Summary of technical data for the Las Calandrias 2018 Drill Program

 

 

Hole ID Easting Northing Elevation (m) Azimuth Dip

(degrees)

Depth (m) Project
CAL18-01 613,946 4,725,662 188.3 142.6 50.8 360 Calandria Norte
CAL18-02 613,790 4,725,604 185.3 312.2 50.8 153 Morena
CAL18-03 614,039 4,725,619 187.2 141.3 53.9 261 Calandria Norte
CAL18-04 613,965 4,725,587 189.6 142.7 55.4 279 Calandria Norte
CAL18-05 613,715 4,725,688 187.2 139.5 48.1 144 Morena
CAL18-06 613,985 4,725,380 192.6 140.4 59.2 80 Calandria Norte
CAL18-07 613,735 4,725,412 172.2 140.7 59.3 251 Calandria Norte
CAL18-08 613,731 4,725,365 172.1 140.2 54.3 221 Calandria Norte
CAL18-09 613,918 4,725,498 180.3 142.8 44 200 Calandria Norte
CAL18-10 613,751 4,725,283 178.7 140 59.8 140 Calandria Norte
CAL18-11 613,830 4,725,376 182.2 140.9 44.6 140 Morena
CAL18-12 613,695 4,725,465 176.9 306.5 51.2 98 Morena
CAL18-13 613,656 4,725,590 181.4 143.7 50.6 143 Morena
CAL18-14 613,688 4,725,430 175.4 316.8 44.9 122 Morena
CAL18-15 613,864 4,725,663 189.5 325.3 50.2 140 Morena
CAL18-16 613,852 4,725,806 192.7 144.9 52.6 215 Morena
CAL18-17 614,096 4,725,511 192.1 138.5 45 101 Calandria Norte
CAL18-18 613,992 4,725,386 192.8 140.8 48.9 60 Calandria Norte
CAL18-19 613,710 4,725,277 173.7 143.7 62.5 162 Calandria Norte
CND04 614,057 4,725,488 189.1 124.7 50.4 62 m ext Calandria Norte
CND06 614,069 4,725,512 189 84.8 60.8 75 m ext Calandria Norte
CND248 614,125 4,725,589 190.7 125 61 80.5 m ext Calandria Norte
RED18-01 606,035 4,727,323 149.9 151.8 44.5 87 Refugio
RED18-02 604,968 4,726,519 150 132.4 51.2 50 Refugio
RED18-03 604,951 4,726,538 149.1 132.2 65.5 70 Refugio

 

 

Quality Control and Assurance

 

 

Mineralized intervals presented in Table 1 are given as both drill intersection widths and estimated true widths of mineralization. Drill core obtained from the diamond drill program is HQ-sized. All drill core was photographed and quick logged prior to sampling. Standard sampling protocol involved the halving of all drill core and sampling over intervals determined by geology (and generally not exceeding 1m in clearly mineralized sections), with one half of the core being placed in a sealed sample bag and dispatched to the analytical laboratory for analysis. Samples were dispatched to Alex Stewart’s sample preparation facility in Puerto San Julian, with pulps subsequently being sent to the Alex Stewart’s analytical lab in Mendoza. All samples have been analysed for gold using a 50g Fire Assay with AAS finish (Analysis AU4-50), in addition to a 39 element ICP-AES analysis of an aqua regia digest (Analysis ICP-AR-39). Standards and blanks were inserted in to the analytical sequence on the basis of one standard plus one blank for every 25 samples.

 

 

 

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 precious metals.  The Company’s current focus is on the discovery through drilling 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 on the Savant Lake gold project in Ontario, together with an active 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.

 

Posted September 13, 2018

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