New Dimension Resources announces that a Phase I drill program has commenced at its Savant Lake Gold Project located approximately 240km northwest of Thunder Bay, Ontario.
The Company's ongoing 2000 metre core program will test approximately 8 to 10 priority targets of the 18 total targets developed in 2016 from ground exploration and airborne geophysical programs. Equity Exploration Consultants of Vancouver will manage this work with assistance from Clark Exploration of Thunder Bay. Results will be released as they are received and compiled.
The Savant Lake property covers a classic iron formation setting with associated gold occurrences within a prospective greenstone belt in northwestern Ontario. The property hosts multiple gold occurrences that have returned values as high as 138.9 g/t gold from exposed outcrops. The Company believes the geologic setting at Savant Lake is analogous to Goldcorp's Musselwhite Mine (located some 200 km. to the north) as well as Agnico Eagle's Meadowbank Mine and newly discovered Amaruq deposit in Nunavut.
As well as identifying numerous iron formation targets, last year's fieldwork also identified shear-zone hosted gold occurrences for testing. Additional follow-up will be contingent on the Company's preliminary drill results.