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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.: Drilling Continues at Pastos Grandes Lithium Brine Project, Bolivia

08/12/2010 5:08pm

Marketwired Canada


New World Resource Corp. (TSX VENTURE:NW)(FRANKFURT:NWU) ("New World" or the
"Company") announces that drilling continues on its' 99% owned Pastos Grandes
lithium brine project in southwestern Bolivia.


The Company is currently drill testing and sampling the third site in an
approximate eight site drill program. Initial results from the drilling are
expected in January. Each site consists of a pilot hole that identifies the
depth and thicknesses of the aquifers. This is then followed by drilling several
holes of various depths within a tightly spaced grouping. Each hole within the
grouping will independently test each aquifer as identified within the initial
pilot hole. This group drilling technique will be completed in various locales
dispersed throughout the project area. In addition to the brine samples being
analyzed for numerous elements and polyatomic ions a series of hydrological
tests are being undertaken. Samples from various aquifers have been delivered to
the lab and results are pending.


The Company has completed near surface sampling of the brine to a depth of 1.3
metres. This sampling program returned very favourable results with average
lithium grades of greater than 1,000 parts per million ("ppm") and potassium
contents of 1.73 weight percent ("wt%"). The magnesium to lithium ratio is also
very favourable at 2.2:1.


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, and the Long Valley project in Nevada.


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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