VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 3, 2010) - New World Resource Corp. (TSX VENTURE:NW)(FRANKFURT:NWU) ("New World" or the "Company") is active on all of its projects and wishes to provide an exploration update.
Pastos Grandes – Lithium Brine Project, Bolivia
- Drill testing the salar is currently underway – 1,500m minimum
- Isolating aquifers for sampling – one drill hole per aquifer
- Holes will remain open for year round monitoring and sampling purposes
- Evaporation test pans being prepared for brine solution
Lipeña / Bonete – Copper Gold Magmatic Breccia, Bolivia
- Geophysical IP survey to begin end of November 2010
- Minimum 60 line km IP survey
- Drilling to follow
Long Valley Nevada – Gold structural target, South of Bald Mountain Nevada
- 1,200 metre drill program underway
- Recent Joint Venture with Golden Touch Resources Corp.
Pastos Grandes, Bolivia
The drilling continues on the Company's 99% owned Pastos Grandes lithium brine project in southwestern Bolivia. The program is designed to sample the various aquifers at depth.
Initially a pilot hole will be drilled to identify the location and widths of the aquifers. This will be followed by drilling several holes of various depths within a tightly spaced grouping. Each hole within the grouping will independently test each aquifer as identified within the initial pilot hole. This group drilling technique will be completed in various locales dispersed throughout the project.
The manufacture of the evaporation test pans are complete and are on site. The pans are now being prepared to receive brine material. This will lead to a better understanding of the brine chemistry and its evaporation process.
The Company has completed near surface sampling of the brine to a depth of 1.3 metres. This sampling program returned very favourable results with average lithium grades of greater than 1,000 ppm and potassium contents of 1.73%. The magnesium to lithium ratio is also very favourable at 2.2:1.
Lipeña / Bonete, Bolivia
The details of a geophysical IP survey over the known deposit area and beyond are being finalized and the survey is expected to begin at the end of November. The known area of interest covers approximately 1 km2 and the IP survey is being designed to cover this and the surrounding ground, for a total area of approximately 3 km2.
It is the intention that this survey will add additional drill targets to the existing target list and through future drilling will increase the existing National Instrument 43-101 resource estimate (news release October 15, 2008).
Previous work has located three main zones of hydrothermal magmatic breccias, which have been named: La Mosa, Central and Lipeña from northwest to southeast. At surface these appear to be separate bodies, however the drill data suggests that they are likely related at depth, and represent the top of a porphyry system. The Lipeña zone has received the majority of the drilling to date, however, the two other zones; La Mosa and the Central zones contain significant gold intercepts. At La Mosa an interval of 127.2 metres from 36 to 163.2 metres returned 1.3 grams per tonne ("g/t") gold including 10.9 metres of 7.5 g/t gold, and in the Central zone a diamond drill hole intersected 71 metres of 1.2 g/t gold from 78 to 149 metres (reported October 25, 2006). Within the Lipeña zone previously announced on September 13, 2006 drill hole 06DLP-47 intersected 212 metres of 2.6 g/t gold, 1.5% copper and 21.9 g/t silver, including 70 metres of 5.3 g/t gold, 3.2% copper, and 47.2 g/t silver, which in turn included an interval of 8 metres running 23.2 g/t gold, 7.5% copper and 90.6 g/t silver. This drill hole may represent a feeder system and requires further delineation.
The Lipeña project and the surrounding Bonete concession encompasses approximately 6,000 hectares. The Lipeña project has undergone more than 18,000 metres of drilling.
With the addition of this IP survey data and our newly generated and interactive 3D modeling system, additional drill targets will be identified so that future drilling will further define all three zones within the Lipeña project and also the surrounding Bonete concession.
Long Valley, Nevada
The Company along with Golden Touch Resources Corp. (formerly known as GFE Capital Corp.) (TSX-V Symbol: GOT) is currently drilling its Long Valley project in Nevada. The minimum 1,200 metre / four hole drill program has recently commenced to test the projected structural extension from the Bald Mountain gold camp.
The Long Valley project encompasses a total 2,123 hectares and covers a portion of what is believed to be the projected structural extension of an important north-northwest trending structure on the edge of the pediment. The Bald Mountain, Alligator Ridge area is an established gold producing region of Eastern Nevada actively being explored by Barrick Gold U.S. Inc. Past production and current proven and probable resources from this camp account for approximately 7.5 million ounces of gold.
A ground magnetic survey indicates a strong northwesterly trending structure intersected by at least two northward striking structures. The intersection of these orientated structures is well known to be an important gold mineralizing control within the Bald Mountain property immediately to the north.
Under an Earn-In Agreement, approved by the TSX Venture Exchange, Golden Touch Resources Corp. has the right to acquire up to 80% interest in the Project by issuing shares to New World and incurring expenditures on the Project over 42 months.
About New World
New World Resource Corp. is a Canadian based mining exploration company focused on building a strong, diversified project portfolio within the Americas. The Company's projects include the Lipeña copper-gold project, the Pastos Grandes lithium brine project in Bolivia and the Long Valley project in Nevada.
NEW WORLD RESOURCE CORP.
John Lando, President