New Dimension Resources (TSXV: NDR; US-OTC: NWDMF) has increased the indicated gold resource by 22% or 69,000 oz. gold at its Las Calandrias gold-silver project in Santa Cruz, Argentina.
The updated resource separates the mineralization into an open pit at the Calandria Sur deposit and an open pit and underground mine at the Calandria Norte deposit.
The Calandria Sur deposit now contains 7.4 million indicated tonnes grading 1.33 grams gold per tonne and 24.65 grams silver for 318,000 oz. gold and 5.88 million oz. silver as well as 1.7 million inferred tonnes at 0.73 gram gold and 7.17 grams silver for 41,000 oz. gold and 401,000 oz. silver.
Calandria Norte now contains 604,000 indicated tonnes grading 3.12 grams gold and 8.2 grams silver for 61,000 oz. gold and 159,000 oz. silver. Beneath the Calandria Norte open pit, the deposit contains 131,000 indicated tonnes grading 2.82 grams gold and 6.3 grams silver for 12,000 oz. gold and 27,000 oz. silver.
It based the Sur resource on 23,173 metres previous operator Mariana Resources drilled from 2009-2012; it based the Norte resource on 14,030 metres and 9 trenches Mariana drilled and dug over the same time period as well as 3,500 metres it drilled in 2018.
This is New Dimensions first update to the Las Calandrias resource after acquiring the property along with several others in an 860 sq. km portfolio from Sandstorm Gold (TSX: SSL; NYSE: SAND) earlier this year. The company is currently evaluating vein targets across its entire Santa Cruz portfolio for possible drill testing in 2019.
Shares of New Dimension are currently trading at 9 ? with a 2-week range of 8 ? to 30 ?. The company has a $4 million market capitalization.