VANCOUVER, BRITISH COLUMBIA, Oct. 20, 2009 (Marketwire) -- 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.
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