New Dawn Mining Corporation Continues Gold Exploration Efforts in Zimbabwe
Toronto, Ontario, June 23, 2009 – New Dawn Mining Corp. (TSX: ND)
announced that it has filed an NI 43101
compliant technical report on its gold
exploration properties in the GweruShurugwi
Greenstone Belt in Zimbabwe. The
report is now available for viewing on Sedar (www.sedar.com), and also available for
viewing on the Company’s website (www.newdawnmining.com).
New Dawn Mining Corp., through its whollyowned
subsidiary, Casmyn Mining
Zimbabwe Private Limited, has four option agreements on mineral claims in the
Shurugwi Mining District and the Lower Gweru area in Zimbabwe. Michael Othitis,
Certified Professional Geologist of Medusa GeoConsulting,
was retained to prepare a
technical report, compliant with NI 43101
standards, on the option claims known as:
· RKB/San Antone (Basil Payne Option)
· Ladville Investments (Ashtonkop) Option
· Ladville Investments (Ultimus)
· Glen Hume Option (Amity (Private) Limited Option)
The report provides, among other things, a review of past mining and exploration in the
region, and seeks to make interpretations and recommendations for future exploration.
“New Dawn’s Zimbabwe goldfocused
business strategy is to increase output at the
Company’s 100% owned Turk Mine, advance its Zimbabwe exploration properties by
identifying, evaluating and, if warranted, drilling such targets, and to continue to
position the Company to be the natural ‘in country’ consolidator of small and mid sized
operating gold mines in Zimbabwe”, commented Ian R. Saunders, New Dawn’s
President and CEO. “The Turk Mine recently resumed fullscale
mining operations, and
output is increasing. With this technical report, we are now closer to identifying drill
targets on our Zimbabwe exploration properties. We intend to fund these nearterm
exploration costs from operating cash flow. As we have previously reported, we are also
actively assessing value accretive acquisition opportunities in the region.”
About New Dawn …
New Dawn Mining Corp. is a junior gold company concentrating its efforts in southern
Africa, with a particular focus on Zimbabwe. New Dawn is well established in the
southern Africa region with three mines, two production facilities, a skilled and
experienced workforce and significant resources.
Two recent NI 43101
reports documented an aggregate of 969,546 ounces of gold
reserves and resources grading between 2.9 – 6.1 g/t, with additional inferred mineral
resources of 355,873 ounces of gold grading between 3.90 – 5.91 g/t.
Reserves and Resources are based upon a 2.45 g/t cutoff
and US$875/oz gold price at
the Turk and Angelus Mines and a 2.0 g/t cutoff
at US$750/oz gold price at New
Dawn’s Blue Dot Property. For further information on New Dawn’s gold reserves and
resources, visit the Company’s website at www.newdawnmining.com or filed on SEDAR
at www.sedar.com.
New Dawn wholly owns the Turk and Angelus Mines in the upper southwest area of
Zimbabwe, with a production facility currently capable of processing up to 400 tonnes
per day or 12,000 tonnes per month; and owns a 74% interest in the Blue Dot
Property in South Africa, with a production facility there rated at 180 tonnes per day
or 5,500 tonnes per month. The Company maintains a highly experienced work force of
over 955 people.
The Company has additional assets that form a portfolio of exploration properties,
including the Consolidated Bubi Gold Fields, consolidated Midlands Gold Fields and
consolidated Shurugwi Gold Fields properties, all of which are located in Zimbabwe.
Posted by Dave Fish Eagle
on June 23, 2009. Filed under Financial News,Zimbabwe Stock Exchange.
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