New World Intersects High-Grade Mineralization at Lipena and Near-Surface Gold at the La Mosa Zone
VANCOUVER, BRITISH COLUMBIA–(Marketwire – Jan. 20, 2012) – New World Resource Corp. ("New World" or the "Company") (TSX VENTURE:NW)(FRANKFURT:NWU) wishes to announce the first seven holes of the recently completed diamond drill program at the Lipeña/Bonete copper-gold project, in southern Bolivia. These seven holes total 2,509.5 metres ("m") and cover a strike length of approximately 900 m.
- La Mosa drilling continues to evaluate the near-surface gold ("Au") mineralization. Results include 39.4 m of 3.18 grams per tonne ("g/t") Au, from 12.8 m below the surface.
- Drill hole 11DLP064 intersects high-grade mineralization at the Lipeña zone with 59.16 m of 2.01 g/t Au, 1.56% copper ("Cu") and 26.62 g/t silver ("Ag").
- New World announces the plan to conduct preliminary metallurgical studies.
|Core length (m)||Au
|NE of Lipeña||11DLP063||0||87.28||87.28||N/S||14.28||0.03|
The program was designed to confirm and extend the previously reported National Instrument 43-101 ("NI 43-101") resource estimate (news release: October 15, 2008) outlined within the original Lipeña property and test new targets in the encompassing Bonete concession.
Previous work has located three main zones of hydrothermal magmatic breccias, which have been named: Lipeña, Central, and La Mosa. Drill hole 11DLP058 (azimuth 200° / dip -60°) was designed to test the down dip extension of hole 06DLP047 (azimuth 200° / dip -60°) within the Lipeña zone. However due to the structurally complex nature of the deposit, the hole did not intersect the expected mineralized zone. Drill hole 11DLP064 (azimuth 90° / dip -50°) intersected significant mineralization and was designed to test and confirm the structural complexities encountered in hole 11DLP058, and to give a dimensional width to the previously encountered Lipeña mineralization. Drill hole 11DLP063 (azimuth 360° / dip -90°) was designed to test a geophysical anomaly and the northeast extension of the Lipeña zone. This drill hole outlines the emergence of a zonation of mineralization, with stronger silver values and lesser amounts of gold and copper. Drill hole 11DLP060 (azimuth 155° / dip -55°) focused on testing the southern extension of the Lipeña zone, the drill hole intersected a post mineralized breccia.
Drill hole 11DLP059 (azimuth 200° / dip -60°) targeted a prominent geophysical Inverse Polarization ("IP") chargeability anomaly within the Central zone. The hole intersected varying amounts of disseminated pyrite that is interpreted to be the cause of the IP anomaly, returning intermittent gold intervals. Drill hole 11DLP061 (azimuth 110° / dip -60°) was abandoned before target depth and 11DLP062 (azimuth 360° / dip -90°) was designed to confirm the extent and morphology of the La Mosa mineralization with near-surface gold values identified.
The results from an additional five holes totalling 1,445 metres are pending, and will be released once received and compiled.
New World with the support of its Lipeña partner, Luis Mercado, President of EMUSA (a leading Bolivian mining company) is now sourcing out a mining engineering firm and is planning the commencement of metallurgical studies. These studies will add to the understanding of the economic potential of the deposit.
Quality Control and Assurance
Exploration work on the Lipeña-Bonete project is under the supervision of Joan McCorquodale, P.Geo, the Company's Vice President, Exploration, who is a "qualified person", as defined in NI 43-101, and is responsible for the preparation of the information contained in this news release.
The intra-lab standards, blanks and replicates were augmented by unmarked blanks, replicates and by aliquots of three geological 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, sample bags were sealed and stored, pending secured transport for analysis. All drill core samples were submitted to ALS Preparatory Laboratory located in Oruro, Bolivia where they were crushed, split and pulverized. ALS then shipped the pulps to their analytical laboratory in Lima Peru where the samples underwent a four acid digestion followed by analysis of 33 elements using an ICP mass spectrometer, gold was fire assayed from a 50 gram pulp sample with an atomic absorption finish.
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 Lipeña/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, 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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