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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 Resource Corp.: Drill Program to Begin on the Long Valley Gold Project, Nevada

26/10/2010 4:28pm

Marketwired Canada


New World Resource Corp. ("New World" or the "Company") (TSX
VENTURE:NW)(FRANKFURT:NWU) along with Golden Touch Resources Corp. (formerly
known as GFE Capital Corp.) (TSX-V Symbol: GOT) announces the mobilization of a
drill rig and crew to the Long Valley project in Nevada. The minimum 1,200 metre
/ four hole drill program will commence immediately and will test the projected
structural extension from the Bald Mountain gold camp.


Long Valley Project

The Long Valley project (the "Project") encompasses a total 2,123 hectares and
covers a portion of what is believed to be the projected structural extension of
an important north-northwest trending structure on the edge of the pediment. The
Bald Mountain, Alligator Ridge area is an established gold producing region of
Eastern Nevada actively being explored by Barrick Gold U.S. Inc. Past production
and current proven and probable resources from this camp account for
approximately 7.5 million ounces of gold.


A ground magnetic survey indicates a strong northwesterly trending structure
intersected by at least two northward striking structures. The intersection of
these orientated structures is well known to be an important gold mineralizing
control within the Bald Mountain property immediately to the north. The Long
Valley project was previously thought to be covered by younger,
post-mineralization volcanics. However, New World's prospecting has revealed
outcrops of silicified breccias similar to those found in the nearby Alligator
Ridge gold deposit.


Under an Earn-In Agreement, approved by the TSX Venture Exchange, Golden Touch
Resources Corp. has the right to acquire up to 80% interest in the Project by
issuing shares to New World and incurring expenditures on the Project over 42
months.


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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