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NW New World Resource Corp

0.205
0.00 (0.00%)
26 Jul 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 Drills 30 Metres of 1,395 ppm Lithium at Pastos Grandes Lithium Brine Project, Bolivia

24/08/2011 6:25pm

Marketwired Canada


New World Resource Corp. (TSX VENTURE:NW)(FRANKFURT:NWU) ("New World" or the
"Company") announces mid-program results from drill holes on its' 99% owned
Pastos Grandes lithium brine project in southwestern Bolivia.


Highlights



--  High lithium content continues in additional drill holes. 
--  Attractively low Mg/Li ratios. 
--  Camp expansion and onsite laboratory construction completed.



Drill sites 1, 4, 12, and 18 have returned excellent lithium grades and
attractively low magnesium to lithium ratios and sulphate to lithium ratios.
Drill sites 2 and 3 as represented by 2A and 3A, 3B are interpreted to intersect
a higher energy aquifer hosted by gravels and sands and are not conducive to the
concentration of lithium or potassium.




------------------------------------------------------------------------
Aquifer         From      To  Thickness      Li       K    Mg:Li  SO4:Li
                  (m)     (m)        (m)   (ppm)   (ppm)   Ratio   Ratio
------------------------------------------------------------------------
1A(i)              6      15          9   1,118   6,357      2.1     1.3
------------------------------------------------------------------------
1B (i)            30      46         16     877   4,567      2.4     2.3
------------------------------------------------------------------------
2A               7.5    37.5         30     182   1,424      3.3     3.4
------------------------------------------------------------------------
3A                 6      36         30     140     816      2.7     3.2
------------------------------------------------------------------------
3B                36    82.5       46.5      71     328      2.8     4.7
------------------------------------------------------------------------
4A                 6      12          6     939   5,625      2.6     3.8
------------------------------------------------------------------------
4                 12      42         30   1,395   7,425      2.5     1.9
------------------------------------------------------------------------
4C                31    48.5       17.5   1,016   6,014      2.5     2.1
------------------------------------------------------------------------
12A             13.5      20        6.5   1,141   7,516      2.8     2.5
------------------------------------------------------------------------
12                20      50         30   1,368   6,733      2.0     1.6
------------------------------------------------------------------------
18                24      53         29   1,243   7,691      2.7     1.9
------------------------------------------------------------------------
(i) Previously released - January 18, 2011                                



As a quick estimate for assessing the feasibility of extraction, higher K/Mg and
SO4/Mg ratios enhance the potash recovery from the preferred production method
utilizing solar evaporation ponds. Moreover, lower Mg/Li and SO4/Li ratios
facilitate lithium recovery.


Each site consists of an initial pilot hole to identify the depth and
thicknesses of the aquifers present, followed by the drilling of a cluster of
holes within a radius of approximately 15 metres from the pilot hole. Each hole
within the grouping will independently test one of the aquifers as identified by
the pilot hole.


The aquifers with substantial lithium and potassium values are dominated by fine
grained sand and silty sand, with localized layers of ulexite. The maximum depth
encountered in the salar to date is 83 metres.


Subsequent to the aquifer identification drilling program, several sites will be
selected for hydrologic assessment. This process will involve completing a
series of monitoring wells around each pump well. Controlled pumping will be
carried out within the centrally located pump hole, and the monitoring wells
will determine the drawdown rates for each aquifer. This data is a portion of an
ongoing comprehensive hydrological assessment of the Pastos Grandes aquifer
system and will be essential as the Company develops its resource estimate. The
hydrological assessment implementation and guidelines are under the direction of
Dr. Richard Martin. Dr. Martin joined the Company as a consultant in February
2011 and holds a PhD in Hydrogeology. He is highly regarded as an expert in the
field of solution mining and exploration.


The Company has completed the expansion and construction of the onsite
laboratory, offices and accommodations. This drill program is now over a 50%
complete and will resume in the near future once environmental conditions
improve.


Quality Control and Assurance

A sampling procedure was designed and implemented by management and the
Company's consultants to ensure sample quality control and assurance. The
intra-lab standards, blanks and replicates were augmented by unmarked blanks,
replicates and by aliquots of two 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, samples were sealed and stored, pending
secured transport for analysis. The samples were forwarded to Spectolab in
Ouruo, Bolivia. Spectrolab is recognized for its quality control system and is
an ISO-17025 accredited laboratory.


Joan McCorquodale, P. Geo is the Company's Vice President, Exploration and
"qualified person" as required under National Instrument 43-101 and has reviewed
the technical information contained in this press release.


Separately, the Company has granted incentive stock options to an employee of
the Company, to purchase 50,000 common shares of the Company. These options are
exercisable for a period of five years at a price of $0.34 per common share. The
options were granted under and are subject to the terms and conditions of the
Plan.


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 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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