New World Drilling Advances High-Grade Copper-Gold Model at Lipena and Near-Surface Gold Zone at La Mosa
February 15 2012 - 7:00AM
Marketwired Canada
New World Resource Corp. ("New World" or the "Company") (TSX
VENTURE:NW)(FRANKFURT:NWU) wishes to announce the last five holes of the diamond
drill program at the Lipena/Bonete copper-gold project, in southern Bolivia.
These five holes total 1,445 metres and represent the final holes in the
recently completed 3,954.5 metre drill program.
Highlights
-- Drill hole 11DLP065 intersects high-grade mineralization at the Lipena
zone with 121.6 metres of 2.0 grams per tonne ("g/t") gold ("Au"), 1.28%
copper ("Cu"), including 34.2 metres of 3.89 g/t Au and 3.33% Cu.
-- La Mosa drill hole 11DLP069 drilled under the previously reported near-
surface gold mineralization (reported January 20, 2012), includes 56.4
metres of 1.13 g/t Au.
Significant Intercepts
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From To Length Au Ag Cu
Zones Hole (m) (m) (m) (g/t) (g/t) (%)
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Lipena 11DLP065 226.77 348.40 121.63 2.00 14.07 1.28
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including 236.77 271.00 34.23 3.89 32.04 3.33
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11DLP066 313.73 379.14 65.41 0.69 1.70 0.16
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including 371.63 379.14 7.51 2.35 2.48 0.08
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La Mosa 11DLP067 197.50 227.50 30.00 0.16 6.20 0.21
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11DLP068 2.50 5.00 2.50 2.72 2.60 0.04
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11DLP069 78.85 159.42 80.57 0.92 0.92 0.27
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including 103.00 159.42 56.42 1.13 1.13 0.34
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Drill Results
The program was designed to confirm and extend the previously reported National
Instrument 43-101 ("NI 43-101") resource estimate (reported October 15, 2008)
outlined within the original Lipena property.
The three main zones of hydrothermal magmatic breccias, have been named: Lipena,
Central, and La Mosa, trending southwest to northeast and covers over a
kilometre of strike length. Drill holes 11DLP064 (azimuth of 200 degrees and a
dip of -60 degrees) (reported January 20, 2012), 11DLP065 (azimuth 95
degrees/dip -50 degrees) and 11DLP066 (azimuth 98 degrees/dip -57 degrees) were
drilled from the same drill set up. These holes were designed to test and
confirm the structural complexities recently encountered, and to give a
dimensional width to the Lipena zone mineralization.
Drill holes 11DLP067 (azimuth 360 degrees/dip -90 degrees) and 11DLP068 (azimuth
360 degrees/dip -90 degrees) tested subtle geophysical anomalies and are located
approximately 160 and 80 metres, respectively west of previously reported drill
hole 11DLP062 (reported January 20, 2012), of the La Mosa zone. These holes west
of La Mosa returned anomalous gold values and are considered of interest due to
the fact that they show the mineralized system continues and is larger than
previously known. Drill hole 11DLP069 (azimuth 270/dip -45 degrees) was drilled
on an angle underneath the near surface gold mineralization intersected in hole
11DLP062 (reported January 20, 2012) of 39.4 metres of 3.2 g/t Au from 12.8 to
52.2 metres. Additional drilling is required at La Mosa to fully realize the
potential near surface gold mineralization.
Future Plans
New World will continue to explore for the porphyry source of this magmatic
quartz-tourmaline breccia system at Lipena. Currently a geological team is
conducting a detailed mapping and prospecting program with a focus on alteration
types, structures, and porphyry style mineralization within the identified zones
and the underexplored encompassing Bonete concession. These geological and
geochemical studies will be applied in conjunction with one or more geophysical
surveys with the goal to focus on porphyry drill targets.
The Company continues to discuss future plans with Lipena partner, Luis Mercado,
President of EMUSA (a leading Bolivian mining company) to advance development
work at Lipena. Metallurgical studies are now underway and these studies will
add to the understanding of the economic potential of the Lipena/Bonete
copper-gold project.
The La Mosa zone remains highly prospective and additional drilling is required
to delineate the extent of the near surface gold mineralization.
Quality Control and Assurance
Exploration work on the Lipena-Bonete project is under the supervision of Joan
McCorquodale, P.Geo, the Company's Vice President, Exploration, who is a
"qualified person", as defined in NI 43-101, and is responsible for the
preparation of the technical information contained in this news release.
The intra-lab standards, blanks and replicates were augmented by unmarked
blanks, replicates and by aliquots of three geological standards acquired by New
World. Unmarked checks (standards, blanks and duplicates) were inserted into the
numbered sample sequence, and represents approximately 5% of the total samples.
Under the supervision of the project geologist, sample bags were sealed and
stored, pending secured transport for analysis. All drill core samples were
submitted to an ALS Minerals Ltd. preparatory laboratory (Oruro Minerals Lab)
located in Oruro, Bolivia where they were crushed, split and pulverized. ALS
Minerals then shipped the pulps to their analytical laboratory (Lima Minerals
Lab) located in Lima, Peru where the samples underwent a four acid digestion
followed by analysis of 33 elements using an ICP mass spectrometer, gold was
fire assayed from a 50 gram pulp sample with an atomic absorption finish. The
Lima preparatory and analytical laboratories are accredited ISO 9001: 2008 and
ISO 17025. The Bolivia preparatory laboratory does not have any certification.
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.
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