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NW New World Resource Corp

0.205
0.00 (0.00%)
31 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
New World Resource Corp TSXV:NW TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.205 0.50 0.50 0 01:00:00

New World Announces the Completion of the Lipena Option Agreement with Project Partner, MARTE

27/11/2013 6:56pm

Marketwired Canada


New World Resource Corp. (TSX VENTURE:NW)(FRANKFURT:NWU) ("New World" or the
"Company") announces the completion of an amended option agreement (reported
October 11, 2012) with Empresa Minera Marte S.R.L. ("MARTE"), whereby MARTE has
earned 20% interest in the Lipena copper-gold project ("Lipena") in Southern
Bolivia. 


Under the terms of the agreement, MARTE earned an additional 20% interest by
spending US$1,250,000 in mineral exploration expenditures on the Lipena
copper-gold project. These funds were used to construct underground adits at
Lipena to establish access into a known structure to obtain samples for
metallurgical testing and bulk samples. MARTE intersected a shear zone averaging
10.5 metres in thickness and a composite sample across the zone returned values
of 150 grams per tonne silver, 4.2% copper, 2.1% zinc, 0.5% lead and 0.8%
antimony (reported October 30, 2013). 


Completion of this transaction results in MARTE holding 62.4% and New World
holding a 37.6% interest in Lipena. Further exploration work will be borne by
each New World and MARTE on a pro rata basis.


New World also announces that the Letter of Intent between the Company and
Sociedad Contractual Minera in relation to the El Tesoro copper-gold project
(reported February 25, 2013) has expired and the Company has elected not to
extend negotiations any further.


Exploration work for the Company on the Lipena project is under the supervision
of Brian McEwen, P.Geol., the Company's Chief Operating Officer, 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.


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 active projects include the Lipena/Bonete copper-gold project and the
Agua Grande gold-copper project in Chile. 


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 completion of the proposed
transaction. 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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
New World Resource Corp.
John Lando or Ian Mitchell
(604) 669-2701 or toll free at 1-800-663-0510
info@newworldresource.com
www.newworldresource.com

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