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New Dimension Resources Commences Airborne Geophysical Program at Savant Lake Gold Project, Northwestern Ontario
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 17, 2016) - New Dimension Resources Ltd. (TSX VENTURE:NDR) (the "Company" or "New Dimension") is pleased to anno
About this update from Capella Minerals Limited
[{"type":"text","content":"VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 17, 2016) - New Dimension Resources Ltd. (TSX VENTURE:NDR) (the \"Company\" or \"New Dimension\") is pleased to announce the commencement of an airborne geophysical program (the \"Program\") on the Company's newly acquired 83.5 square kilometre Savant Lake gold property (the \"Property\"). \"We are excited to begin this airborne geophysical survey over our Savant Lake gold project,\" said Fred Hewett, President and CEO of New Dimension. \"We anticipate the results of this program will identify new drill targets and improve our geologic understanding of the property.\" The Program's flight pattern is designed to identify possible gold bearing sulfide horizons within favourable structural environments developed in iron formation stratigraphy. The total proposed survey of 925 line-kilometers covers an area of approximately 90 square kilometers and is expected to take between one and two weeks to complete. Data processing and modelling will follow with fully interpreted results available in June. The Program will include the use of a VTEM Plus (Versatile Time Domain Electro Magnetic) system, which is considered the most innovative and successful airborne electromagnetic system currently being utilized in the industry. The VTEM Plus system is expected to detect potentially gold bearing sulfide conductors hosted within the property extensive iron formation occurrences. About Savant Lake Gold Project Located approximately 240 kilometres northwest of Thunder Bay, Ontario, the Savant Lake Project covers a classic iron formation hosted system of gold occurrences within the Savant Lake Greenstone Belt. The Property, which has not been significantly explored since the early 1980's, hosts multiple gold showings that have yielded high grade values up to 138.9 g/t in outcrop. New Dimension was attracted to the Savant Lake Property for its gold in iron formation characteristics that seem analogous to Goldcorp's neighbouring Musselwhite gold mine and Agnico Eagle's newly discovered Amaruq deposit in Nunavut. The Company can earn a 100% interest in the Savant Lake Property by paying the vendors C$100,000 and issuing 600,000 shares of New Dimension over a four year period. The Property is subject to a 2% NSR, of which one percent (1%) can be purchased for C$1,000,000. About New Dimension Resources Lt...