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New Dimension Reports Updated Mineral Resource Estimate for the Las Calandrias Project, Santa Cruz Province, Argentina.

CNW Group - Fri Oct 5, 8:00AM CDT

Indicated Resource: 391,000 Ounces Gold + 6,070,000 Ounces Silver

Inferred Resource: 42,100 Ounces Gold + 401,500 Ounces Silver

TSX-V: NDR

New Dimension Resources Ltd. (TSXV:NDR.VN) (the "Company" or "New Dimension") is pleased to report the results of an updated Mineral Resource Estimate ("MRE") for the Las Calandrias Gold-Silver Project in Santa Cruz Province, Argentina. The updated MRE has been prepared by independent mining consultants AGP Mining Consultants Inc. ("AGP Mining") in accordance with Canadian National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"). The updated MRE includes contributions from both the Calandria Sur and Calandria Norte deposits (Figures 1&2); a detailed evaluation of the mineral resource potential of the adjacent high-grade Morena vein/breccia system will continue over the coming months.

Highlights

--  The updated Mineral Resource Estimate ("MRE") for Las
        Calandrias has been reported utilizing an optimized
        constraining shell, and is based on the concept of an open pit
        for the Calandria Sur deposit and an open pit and possible
        underground operations for the Calandria Norte Deposit.

    --  The updated MRE confirms the robust nature of the Las
        Calandrias gold-silver resource, and has increased global
        Indicated Category gold resources contained within constraining
        pit shells by 22% or 69,000 ounces. Significant potential also
        still exists for the discovery of new mineral resources at Las
        Calandrias, especially within the Morena and Despreciada
        vein/breccia systems, in addition to within new prospects (e.g.
        Bozal) in the broader Las Calandrias District.

    --  The updated MRE for Las Calandrias, as reported by sector:

Calandria Sur Deposit (Figures 3&4) - Mineral Resources within constraining Shell

Grades       Contained Metal



            Resource

       Cut-off Grade        Tonnage         Au                Ag

           Au

            Ag

       (gpt Au)
     (,000 t)
     (gpt)
        (gpt)
       (oz Au)
       (oz Ag)

    ---

            Indicated
     Varied                   7,424          1.33                  24.65            318,000             5,884,000

        ---

            Inferred
     Varied                   1,739          0.73                   7.17             41,000               401,000

        ---

Calandria Norte Deposit (Figure 5) - Mineral Resources within constraining Shell

Grades     Contained Metal



            Resource         Cut-off Grade         Tonnage        Au              Ag                   Au             Ag

       (gpt Au)
     (,000 t)      (gpt)           (gpt)
     (oz Au)
     (oz Ag)

    ---

            Indicated
      >0.8                        604         3.12                 8.20          61,000         159,000

        ---

            Inferred
      >0.8                         19         1.31                 0.69           1,000             400

        ---

Calandria Norte Deposit - Mineral Resources below constraining shell

Grades     Contained Metal



            Resource         Cut-off Grade         Tonnage        Au              Ag                   Au              Ag

       (gpt Au)
     (,000 t)      (gpt)           (gpt)
     (oz Au)
     (oz Ag)

    ---

            Indicated
      >1.5                        131         2.82                 6.30          12,000           27,000

        ---

            Inferred
      >1.5                          2         1.71                 2.01             100              100

        ---
Notes to Accompany Calandria Sur MRE:


               Summation errors may occur due to rounding;


               Mineral Resources are reported within an
                optimized constraining shell;


               Block matrix is 6m x 6m x 5m (length x
                width x height);


               Grades are estimated by ID3 interpolation;


               Density was interpolated by ID2.  Blocks
                not populated by ID2 were assigned the
                mean density 2.21;


               Cut-off grade for MRE varies by oxide zone
                (0.3 g/t Au oxide; 0.4 g/t Au
                transition; and 0.8 g/t Au primary
                zones);


               Mineral Resources that are not Mineral
                Reserves do not have demonstrated economic
                viability


               Constraining pit parameters: (in $US)


                         Metal Price: $1,400/oz Au; $18.50/oz
                          Ag (based on 3 year rolling average
                          seller's prices)


                         Metal Recoveries: Au (94%-oxide; 73%
                          transition; 80% primary), Ag
                          (88%-oxide; 78% transition; 80%
                          primary)



              Mining Cost: $2.50/t


                         Processing plus General and
                          Administration: $11-oxide;
                          $11-transition; $25-primary



              Pit Slope: 45°




                            Notes to Accompany Calandria Norte MRE:


               Summation errors may occur due to rounding;


               Mineral Resources are reported within, and
                below, an optimized constraining shell;


               Block matrix is 5m x 3m x 5m (length x
                width x height);


               Grades are estimated by ID3 interpolation;


               Density was assigned the mean density 2.41;


               Cut-off grade used for reporting MRE
                within constraining shell is 0.8 g/t Au;


               Cut-off grade used for reporting MRE below
                constraining shell is 1.5 g/t Au


               Mineral Resources that are not Mineral
                Reserves do not have demonstrated economic
                viability.


               Constraining pit parameters: (in $US)


                         Metal Price: $1,400/oz Au; $18.50/oz
                          Ag (based on 3 year rolling average
                          seller's prices)


                         Metal Recoveries:   Au (80%), Ag
                          (84%)



              Mining Cost: $2.50/t


                         Processing plus General and
                          Administration: $25



              Pit Slope: 45°
--  The previous MRE for the Las Calandrias Project was reported on
        an unconstrained basis. On a like-for-like basis (all mineral
        resources contained within constraining shell), increases in
        both average gold grade and total contained gold ounces are
        reported for Calandria Sur (+10% increase in Au grade and +21%
        increase in contained gold ounces in Indicated Category). At
        Calandria Norte, the 2018 MRE reports an increase of +13,000 oz
        in contained ounces (+27%) in Indicated Category.

    --  Mineral resources at the Calandria Sur deposit are bounded to
        the south by the Calandria I claim block boundary.

Calandria Sur Deposit - Resource Comparison

Classification                Previous MRE             September 2018 MRE

                               Oxide COG >0.3 gpt Au       Oxide COG >0.3 gpt Au

                            Transition COG > 0.4 gpt Au Transition COG > 0.4 gpt Au

                              Primary COG > 0.8 gpt Au    Primary COG > 0.8 gpt Au

    ---


              Tonnage
              Au
        Contained Au
           Tonnage
           Au
        Contained Au

                Increase in
                                ('000 t)                      (gpt)                      (oz Au)               ('000 t)              (gpt)           (oz Au)                   Contained Au

                (oz Au)



               Indicated                          6,755                           1.21               262,000                 7,424            1.33                  318,000                           +56,000

        ---

               Inferred                             228                           1.13                 8,500                 1,739            0.73                   41,000                           +32,500

        ---
Note:



     Previous MRE and 2018 MRE are reported at the same Au cut-off grades and within the 2018 constraining shell



     Previous MRE reported using 2011 Oxide Zones; 2018 MRE reported using updated 2018 Oxide Zones

Calandria Norte Deposit - Resource Comparison

Classification               Previous MRE          September 2018 MRE


         COG > 0.8 gpt Au
       COG > 0.8 gpt Au

    ---


           Tonnage
            Au
        Contained Au
           Tonnage
           Au
        Contained Au

                Increase in
                               ('000 t)                   (gpt)                      (oz Au)               ('000 t)            (gpt)           (oz Au)                   Contained Au

                (oz Au)



               Indicated                          366                         4.09                48,000                 604            3.12                   61,000                           +13,000

        ---

               Inferred                           101                         2.14                 7,000                  19            1.31                    1,000                            -6,000

        ---
Note:



     Previous MRE and 2018 MRE are reported at the same Au cut-off grades and within the 2018 constraining shell

Link to figures:https://newdimensionresources.com/site/assets/files/13136/2018_10_calandrias_mre_update_figs.pdf

Eric Roth, New Dimension's CEO, commented today: "I am pleased to be able to report our updated Mineral Resource Estimate for the Las Calandrias Project, which has shown growth even with tighter technical constraints being placed on the outlining of mineral resource areas. And this resource growth occurred without any potential new contributions from the high-grade Morena vein/breccia system, for which we had insufficient time to evaluate in detail. Significant potential still exists at the Las Calandrias Project to expand the known mineralization at Morena (where only the southern end has seen any meaningful drilling), together with the nearby Despreciada-Nido vein system (untested in the 2018 drill program).

With the arrival of the Patagonian summer field season, our geological teams will now accelerate field activities and the process of evaluating and ranking vein targets at both Las Calandrias and elsewhere within our 860 square kilometre portfolio. This field work is expected to lead to the definition of new high-grade gold-silver targets for drill testing during 2019".

Las Calandrias Mineral Resource Estimate Authorship, Parameters, and Methodology

The updated Mineral Resource Estimate for the Las Calandrias Project was prepared by Mr. Paul Daigle, associate resource geologist with AGP Mining Consultants Inc. and an Independent Qualified Person as defined by Canadian National Instrument NI-43-101 Standards of Disclosure for Mineral Projects. The Mineral Resource Estimate was completed using the following parameters:

--  Mineral resources are estimated in accordance with the CIM
        Mineral Resource definitions referred to in NI 43-101. This
        mineral resource estimate has an effective date of 14
        September, 2018 and was carried out by AGP Mining Consultants
        Inc. for the Las Calandrias Project, which includes the Las
        Calandrias Sur and Las Calandrias Norte Deposits.

    --  The estimate was completed based on the concept of an open pit
        for Las Calandrias Sur Deposit; and an open pit and possible
        underground operations for Las Calandrias Norte Deposit.

    --  For the 2009-2012 drill campaigns, the samples were assayed at
        ALS Laboratories in Mendoza, Argentina. Sample preparation
        included weighing, drying, crushing of the entire sample to
        greater than 70% -2mm, taking a split of 250g, and pulverizing
        the split to greater than 85% passing 75microns (ALS code:
        PREP-31, DRY-22). Analyses consisted of gold assays and
        multi-element Inductively Coupled Plasma (ICP) analysis. Gold
        analyses for all samples were by fire assay (FA) with an atomic
        absorption (AA) finish (ALS code: Au-AA24). Any results over
        10g Au/t were checked using a gravimetric finish (ALS code:
        Au-GRA22). The 34-element ICP analyses (ALS code: ME ICP41
        package) used aqua regia digestion. Silver grades exceeding 100
        g Ag/t were checked by FA with a gravimetric finish (ALS code:
        Ag-GRA21). In 2012, some samples were analyzed for mercury
        using a cold-vapor AA method (ALS code: Hg-CV41)

    --  For the 2018 drill program, the samples were sent to Alex
        Stewart International S.A. (ASI) in San Julian, Argentina for
        sample preparation; and to ASI in Mendoza, Argentina for
        analysis. Sample preparation included weighing, drying,
        crushing of the entire sample to greater than 80% -2mm, taking
        a split of 250g, and pulverizing the split to greater than 95%
        passing 106 microns (ASI code: P-1). Analyses consisted of fire
        assay for gold and multi-element ICP analysis (ASI code:
        ICP-AR-39). The 39-element ICP analyses used an aqua regia
        digest and optical emission spectrometry (ICP-OES) finish. Gold
        analyses for all samples were by FA with an AA finish (ASI
        code: Au4-50). Any silver values over detection limit used FA
        with a gravimetric finish (ASI code: Ag4A-50).

    --  AGP validated the assays in the database using the laboratory
        certificates and spreadsheets from ALS and from Alex Stewart.
        Approximately 20% of the database was reviewed against the
        certificates and no issues were encountered.

    --  The quality control and quality assurance program for the New
        Dimension drilling consisted of regular insertion of blanks,
        duplicates and certified reference materials obtained from
        Geostat Pty. Ltd., O'Connor (Perth), Australia.

    --  The Las Calandrias Sur Deposit was interpolated with 147
        diamond drill holes completed by previous operator, Mariana
        Resources Ltd. ("Mariana") between 2009 and 2012, totalling
        23,173 metres. The Las Calandrias Norte Deposit was
        interpolated with 51 diamond drill holes completed by Mariana
        and New Dimension between 2009-2012 and 2018, totalling 17,530
        metres of drilling; and nine trenches completed by Mariana in
        2009.

    --  Gold and silver mineralization mainly occurs within a rhyolite
        dome at the Calandria Sur and, within a breccia zone that cuts
        a rhyolite dome in Calandria Norte. A country rock wireframe
        was created surrounding both the Calandria Sur and Norte
        rhyolite dome wireframes. A higher-grade core at Calandria Sur
        was developed using an indicator model at a 1.0 gpt Au
        indicator. Mineralization at Calandria Norte is mainly confined
        within the breccia zone, striking roughly 055°Az and dipping
        approximately -60° to the northwest, and varies in true
        thickness from 2 m to 15 m. This breccia zone was created in
        Leapfrog and manually adjusted to capture the logged breccia
        zone. Occurrences of gold mineralization occur sporadically in
        the hanging wall and footwall of this zone, within the rhyolite
        dome.

    --  Mariana sampled most of the Calandria Sur and Calandria Norte
        drill core nominally between 0.5 and 2 m intervals. New
        Dimension sampled the drill core nominally at 1 m intervals.
        Composite intervals were created at an average composite length
        of 2.0 m.

    --  For the treatment of outliers in the Calandria Sur Deposit, raw
        assays were capped at 28.60 gpt Au and 12.05 gpt Au; and 602.00
        gpt Ag and 208.00 gpt Ag; within the core and dome domains,
        respectively. In the Calandria Norte Deposit, raw assays were
        capped at 64.00 gpt Au and 93.60 gpt Ag in the breccia zone
        domain; and at 9.78 gpt Au and 47.50 gpt Ag in the rhyolite
        dome and country rock domain.

    --  Specific Gravity (SG) in the resource models was derived from a
        dataset of 451 measurements. The specific gravity measurements
        were carried out by Mariana using the wet/dry method. For
        Calandria Sur, 410 SG values were interpolated using inverse
        distance squared method, from the well-distributed measurements
        in the deposit. Any block not interpolated were assigned the
        average SG value of 2.21. For Calandria Norte, the dataset was
        made up of 41 selected measurements. Due to the low population
        of density data the block model was assigned the average SG
        value of 2.41.

    --  A (3D) geological and block model was generated using Geovia
        GEMSâ?¢ 6.8.1 software. Calandria Sur block model matrix
        size of 6 m x 6m x 5 m (width x length x height) and was
        selected based on the size deemed suitable for an open pit
        mining scenario. Calandria Norte block model matrix size of 5 m
        x 3 m x 5 m (width x length x height), rotated
        35°counter-clockwise, and was selected based on the size deemed
        suitable for both an open pit and possible underground mining
        scenario.

    --  Spatial analysis did not produce any decent variograms due to
        the high variability of the gold and silver grades in both
        deposits. The grade models were interpolated using inverse
        distance cubed, and validated using inverse distance squared
        and nearest neighbour models.

    --  The interpolation was carried out in two passes with increasing
        search ellipsoid dimensions. For both zones, the classification
        was based nominally on the number composites used to estimate a
        block and the distance to the nearest composite. Isolated
        Inferred blocks within core areas of Indicated resource blocks
        were captured within a wireframe and upgraded to the Indicated
        Category.

    --  In 2012, preliminary metallurgical testwork was completed on
        material from the oxide, transition and primary zones of the
        Calandria Sur Deposit. Testwork was carried out by ALS in
        Sydney, Australia (formerly Metcon Laboratories Pty. Ltd.). The
        testwork involved a Leachwell(ÂR) test to determine how amenable
        the material was to a leaching process.

    --  Under CIM definitions, Mineral Resources should have a
        reasonable prospect of eventual economic extraction. An
        optimized constraining shell has been applied to capture
        reported Mineral Resources. A gold price of US$ 1400/oz Au and
        US$ 18.50/oz Ag were used for the cut-off calculation which
        corresponded to three year rolling average seller's price as of
        September 14, 2018. The cut-off calculation included
        metallurgical recoveries based on metallurgical testwork to
        date by oxide zone. In order to assess the Mineral Resources at
        Calandria Sur, an in situ resource cut-off grade between 0.3
        gpt Au and 0.8 gpt Au (varies by oxide zone) has been applied
        for potential material amendable to open pit extraction. For
        the Mineral Resources at Calandria Norte, an in situ resource
        cut-off grade between 0.8 gpt Au has been applied for potential
        material amendable to open pit extraction and a cut-off grade
        of 1.5 gpt Au for material below the constraining shell.

    --  The quantity and grade of reported Inferred resources in this
        estimation are conceptual in nature, and there has been
        insufficient exploration to define these Inferred resources as
        an Indicated or Measured resource. It is uncertain if further
        exploration will result in upgrading them to an Indicated or
        Measured resource category.

    --  Mineral Resources that are not Mineral Reserves do not have
        demonstrated economic viability.

    --  Rounding of tonnes as required by reporting guidelines may
        result in apparent differences between tonnes, grade, and
        contained metal content.

Qualified Persons Statement

The technical content of this press release has been reviewed by Paul Daigle, P.Geo., Associate Senior Geologist of AGP Mining. Mr. Daigle is responsible for the Technical Report and Mineral Resource Estimate for the Las Calandrias Project, is independent of New Dimension Resources and is a "Qualified Person" as defined by NI 43-101.

All information relating to exploration activities has been reviewed by Eric Roth, Chief Executive Officer and Executive Director of New Dimension Resources. Mr Roth holds a Ph.D. in Economic Geology from the University of Western Australia, is a Fellow of the Australian Institute of Mining and Metallurgy (AusIMM), and is a Fellow of the Society of Economic Geologists (SEG). Mr Roth has over 25 years experience in international minerals exploration and mining project evaluation.

On Behalf of the Board of New Dimension Resources Ltd.

"Eric Roth"___________________________Eric Roth, Ph.D., FAusIMMPresident & CEO

About New Dimension ResourcesNew 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.

About AGP Mining Consultants Inc.AGP Mining Consultants Inc. is an Ontario-based mining consulting firm specializing in mine engineering (underground and open pit), mineral resource estimation, metallurgical development and process engineering, geotechnical and water resources engineering, infrastructure and project management.

Cautionary Notes and Forward-looking StatementsThis news release contains forward-looking information within the meaning of applicable securities legislation. Forward-looking information is typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. Such statements include, without limitation, statements regarding the future results of operations, performance and achievements of New Dimension, including the timing, completion of and results from the drill programs described in this release. Although the Company believes that such statements are reasonable, it can give no assurances that such expectations will prove to be correct. All such forward-looking information is based on certain assumptions and analyses made by New Dimension in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. This information, however, is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Important factors that could cause actual results to differ from this forward-looking information include those described under the heading "Risks and Uncertainties" in New Dimension's most recently filed MD&A. New Dimension does not intend, and expressly disclaims any obligation to, update or revise the forward-looking information contained in this news release, except as required by law. Readers are cautioned not to place undue reliance on forward-looking information.

Neither the TSX Venture Exchange ("TSXV") nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

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SOURCE New Dimension Resources Ltd.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/October2018/05/c2603.html

SOURCE: New Dimension Resources Ltd.

New Dimension Contacts: Eric Roth, Email: info@newdimensionresources.com; Karen
Davies, +1 604-314-2662

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