New Dimension Resources Ltd. (the "Company" or "New Dimension") reports that diamond drilling has commenced on its Midas gold property ("the Property"), located approximately 50 kilometres northeast of the town of Wawa in north central Ontario.
The initial holes of the 1,800 metre program are designed to confirm and expand the GZ-1 Zone (previously referred to as the M-16 Zone) along strike and to depth. The M-16 Zone was discovered by Lakeland Resources Inc. ("Lakeland") during their 2011 drill program. Additional drilling is planned to test the strike continuity of the mineralization encountered in holes M-11-08 and 09. Drilling will also evaluate a structural flexture that appears to locally control mineral distribution and is supported by geophysical data.
Results of the drill program will be announced once assays are received and the results interpreted.
New Dimension can earn an initial 70% property interest by spending $1.2 million in exploration expenditures, issuing 1.5 million shares of New Dimension and paying $100,000 on or before December 31, 2016. Lakeland holds the Property under option from local prospectors and can earn a 100% interest subject to a 2% NSR production royalty.
About New Dimension Resources Ltd.:
New Dimension Resources Ltd. is engaged in the acquisition, exploration and development of quality exploration opportunities throughout the Americas. The Company has an option to earn a 70% interest in the Midas gold property in north central Ontario from Lakeland Resources Inc. and an option to earn up to a 100% interest in 13 properties located in the Yukon from Strategic Metals Ltd.
This news release was reviewed by Fred Hewett, P. Eng. the Company's President & CEO, 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
Source: http://www.newdimensionresources.com/