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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's Joint Venture Partner, MARTE, Advances Underground Exploration at the Lipena Copper-Gold Project, Bolivia

30/10/2013 6:18pm

Marketwired Canada


New World Resource Corp. (TSX VENTURE:NW)(FRANKFURT:NWU) ("New World" or the
"Company") announces an update on the underground exploration program at the
Lipena copper-gold project ("Lipena" or the "Project") in southern Bolivia with
Empresa Minera Marte S.R.L. ("MARTE"). MARTE constructed adits and commenced
underground exploration on two levels; Level 0 and Level 40, which is 40 metres
above Level 0. MARTE intersected mineralization on Level 0 and expects to reach
known mineralization on Level 40 within the coming weeks. 


MARTE is a partner with New World and pursuant to the amended option agreement
(reported October 11, 2012), MARTE has been granted an option to acquire 20% of
the Company's 57.6% interest in Lipena by spending US$1,250,000 in mineral
exploration expenditures on the Project over a period of 12 months. Upon
completion of the transaction, MARTE will hold 62.4% and New World will hold
37.6%. 


MARTE constructed underground adits to establish access into a known structure
to obtain samples for metallurgical testing and bulk samples (reported December
11, 2012). Historical assays from rotary drilling carried out in 1995 by a
subsidiary of the former Battle Mountain Gold Company outline that a structure
containing high-grade silver was discovered. Historical rotary drill hole LP-04
contained 1,253 grams per tonne ("g/t") silver over 6 metres, which included
3,900 g/t silver over 1.5 metres. The high-grade silver structure appears
continuous to surface with a series of veins and veinlets sampled ranging in
thickness from 0.1 to 1.5 metres. Historical drill results were analyzed at
Laboratorio de Exploracion Inti Raymi, Bolivia.


The historical drill results were prepared prior to the implementation of NI
43-101. The Company is not aware of any subsequent drill results at this
location and there has not yet been sufficient work completed to confirm the
accuracy of the historical results.


At the Level 0 adit, MARTE intersected a shear zone averaging 10.5 metres in
thickness. A composite sample across the zone returned values of 150 g/t silver,
4.2% copper, 2.1% zinc, 0.5% lead and 0.8% antimony. A 0.9 metre vein parallel
to the shear zone returned values of 148 g/t silver, 5.4% copper, 2.4% zinc,
0.6% lead and 1.5% antimony. 


MARTE plans to continue collecting samples for metallurgical testing and to
evaluate its different options for the further evaluation and exploration work
at Lipena.


The Company also announces that it continues to negotiate with Sociedad
Contractual Minera in relation to the El Tesoro copper-gold project (reported
February 25, 2013).


Exploration work on the Lipena project is under the supervision of Brian McEwen,
P.Geol., B.Sc. (Geo), 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.


The intra-lab standards, blanks and replicates were augmented by unmarked
replicates and by aliquots of two geological standards acquired by New World.
Unmarked checks (standards 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. Samples were submitted to an ALS
Minerals Ltd. preparatory laboratory (Oruro Minerals Lab) located in Oruro,
Bolivia where they were crushed, split and pulverized. ALS Minerals then shipped
the pulps to their analytical laboratory (Lima Minerals Lab) located in Lima,
Peru where the samples underwent a four acid digestion followed by analysis of
33 elements using an ICP mass spectrometer. Samples with contents above the
detection limit additionally were digested with aqua regia and assayed by Atomic
Absorption Spectrometry. The Lima preparatory and analytical laboratories are
accredited ISO 9001: 2008 and ISO 17025.


About New World

New World Resource Corp. is a Canadian based 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, the success of exploration activities and other anticipated
future events, conditions or results that are not historical facts. 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, changing foreign exchange rates, 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; including through MARTE funding
exploration and development activities pursuant to the option agreement; 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
(604) 687-4670 (FAX)
info@newworldresource.com
www.newworldresource.com

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