New World Update on Lipena/Bonete Copper-Gold and Pastos Grandes Lithium Brine Projects, Bolivia
November 15 2011 - 12:00PM
Marketwired
New World Resource Corp. (TSX VENTURE:NW)(FRANKFURT:NWU) ("New
World" or the "Company") wishes to provide an update on operations
currently underway at its' two flagship projects; Lipena/Bonete
copper-gold project and Pastos Grandes lithium brine project, both
in Bolivia.
Lipena/Bonete Copper-Gold Project
The Company has completed approximately 3,100 metres of drilling
to date in a planned 5,000 metre first phase program to expand the
National Instrument 43-101 compliant Lipena resource (news release:
October 15, 2008) and to explore the surrounding Bonete claims.
Assay laboratories in South America are currently experiencing
extremely slow turnaround times due to a heavy volume of drilling
taking place in the region. The Company will report drill results
when a representative amount of analytical results have been
received from the laboratory.
Pastos Grandes Lithium Brine Project
The Company has completed the expansion and construction of the
on-site laboratory, offices and accommodations. The planned drill
program is over 50 percent complete and has delivered strong
lithium content results. An abnormally severe rainy season has
hampered the efficiency of the program; however, management
continues to be encouraged with the high grade lithium and overall
chemistry of the salar.
Management is currently in discussions with a number of
strategic groups that would greatly benefit the development of
Pastos Grandes. The Company recognizes the importance of delivering
the correct strategic partner to this project and will announce any
developments on this front as soon as anything material occurs.
Drilling is currently on hold while the next phase of work is being
planned.
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
Lipena/Bonete copper-gold project and the Pastos Grandes lithium
brine project in Bolivia.
NEW WORLD RESOURCE CORP.
John Lando, President
This news release includes "forward-looking information", as
such term is defined in applicable securities laws. The
forward-looking information includes, without limitation,
statements regarding the extent and timing of its exploration
programs, exploration program budgets and exploration results. This
forward-looking information is given as of the date of this news
release. Users of forward-looking information are cautioned that
actual results may vary from the forward-looking information
contained herein. While the Company has based this forward-looking
information on its expectations about future events as at the date
that such information was prepared, the information is not a
guarantee of the Company's future performance and is subject to
risks, uncertainties, assumptions and other factors which could
cause actual results to differ materially from future results
expressed or implied by such forward-looking information. Such
factors and assumptions include, amongst others, the effects of
general economic conditions, the price of lithium, changing foreign
exchange rates and actions by government authorities, uncertainties
associated with legal proceedings and negotiations and misjudgments
in the course of preparing forward-looking information. In
addition, there are also known and unknown risk factors which could
cause the Company's actual results, performance or achievements to
differ materially from any future results, performance or
achievements expressed or implied by the forward-looking
information. Known risk factors include, among others, risks
relating to exploration and development; the ability of the Company
to obtain additional financing; the Company's limited operating
history; the need to comply with environmental and governmental
regulations; political and economic instability and general civil
unrest in Bolivia; potential defects in title to the properties;
fluctuations in currency exchange rates; fluctuating prices of
commodities; operating hazards and risks; competition; and other
risks and uncertainties. Although the Company has attempted to
identify important factors that could cause actual actions, events
or results to differ materially from those described in
forward-looking information, there may be other factors that cause
actions, events or results not to be as anticipated, estimated or
intended. There can be no assurance that forward-looking
information will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on
forward-looking information. The Company is under no obligation to
update or alter any forward-looking information except as required
under applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
Contacts: New World Resource Corp. John Lando (604) 669-2701 or
Toll Free: 1-800-663-0510 New World Resource Corp. Ian Mitchell
(604) 669-2701 or Toll Free:
1-800-663-0510info@newworldresource.comwww.newworldresource.com
New World Resource (TSXV:NW)
Historical Stock Chart
From Jun 2024 to Jul 2024
New World Resource (TSXV:NW)
Historical Stock Chart
From Jul 2023 to Jul 2024