New World Intersects High-Grade Mineralization at Lipena and Near-Surface Gold at the La Mosa Zone
20 Enero 2012 - 8:05AM
Marketwired Canada
New World Resource Corp. ("New World" or the "Company") (TSX
VENTURE:NW)(FRANKFURT:NWU) wishes to announce the first seven holes of the
recently completed diamond drill program at the Lipena/Bonete copper-gold
project, in southern Bolivia. These seven holes total 2,509.5 metres ("m") and
cover a strike length of approximately 900 m.
Highlights
-- La Mosa drilling continues to evaluate the near-surface gold ("Au")
mineralization. Results include 39.4 m of 3.18 grams per tonne ("g/t")
Au, from 12.8 m below the surface.
-- Drill hole 11DLP064 intersects high-grade mineralization at the Lipena
zone with 59.16 m of 2.01 g/t Au, 1.56% copper ("Cu") and 26.62 g/t
silver ("Ag").
-- New World announces the plan to conduct preliminary metallurgical
studies.
Significant Intercepts
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Core
To length Au Ag Cu
Zones Hole From (m) (m) (m) (g/t) g/t) (%)
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Lipena 11DLP058 266.80 321.9 55.10 0.81 2.26 0.15
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including 292.75 302.6 9.85 1.56 2.65 0.28
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La Mosa 11DLP062 12.80 52.2 39.40 3.18 5.19 0.21
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11DLP062 80.05 86.16 6.11 2.23 6.99 0.45
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NE of Lipena 11DLP063 0 87.28 87.28 N/S 14.28 0.03
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including 0 22.30 22.30 N/S 22.75 0.01
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11DLP063 204 212.55 8.55 0.06 30.54 0.59
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Lipena 11DLP064 248.27 307.43 59.16 2.01 26.62 1.56
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including 248.27 278 29.73 2.71 33.01 2.12
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11DLP064 266.40 278 11.60 3.22 67.59 3.78
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11DLP064 266.40 275.72 9.32 3.37 75.19 4.21
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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 (news release: October 15,
2008) outlined within the original Lipena property and test new targets in the
encompassing Bonete concession.
Previous work has located three main zones of hydrothermal magmatic breccias,
which have been named: Lipena, Central, and La Mosa. Drill hole 11DLP058
(azimuth 200 degrees / dip -60 degrees) was designed to test the down dip
extension of hole 06DLP047 (azimuth 200 degrees / dip -60 degrees) within the
Lipena zone. However due to the structurally complex nature of the deposit, the
hole did not intersect the expected mineralized zone. Drill hole 11DLP064
(azimuth 90 degrees / dip -50 degrees) intersected significant mineralization
and was designed to test and confirm the structural complexities encountered in
hole 11DLP058, and to give a dimensional width to the previously encountered
Lipena mineralization. Drill hole 11DLP063 (azimuth 360 degrees / dip -90
degrees) was designed to test a geophysical anomaly and the northeast extension
of the Lipena zone. This drill hole outlines the emergence of a zonation of
mineralization, with stronger silver values and lesser amounts of gold and
copper. Drill hole 11DLP060 (azimuth 155 degrees / dip -55 degrees) focused on
testing the southern extension of the Lipena zone, the drill hole intersected a
post mineralized breccia.
Drill hole 11DLP059 (azimuth 200 degrees / dip -60 degrees) targeted a
prominent geophysical Inverse Polarization ("IP") chargeability anomaly within
the Central zone. The hole intersected varying amounts of disseminated pyrite
that is interpreted to be the cause of the IP anomaly, returning intermittent
gold intervals. Drill hole 11DLP061 (azimuth 110 degrees / dip -60 degrees) was
abandoned before target depth and 11DLP062 (azimuth 360 degrees / dip -90
degrees) was designed to confirm the extent and morphology of the La Mosa
mineralization with near-surface gold values identified.
The results from an additional five holes totalling 1,445 metres are pending,
and will be released once received and compiled.
Future Plans
New World with the support of its Lipena partner, Luis Mercado, President of
EMUSA (a leading Bolivian mining company) is now sourcing out a mining
engineering firm and is planning the commencement of metallurgical studies.
These studies will add to the understanding of the economic potential of the
deposit.
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 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 ALS Preparatory Laboratory located in Oruro, Bolivia where they
were crushed, split and pulverized. ALS then shipped the pulps to their
analytical laboratory 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.
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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