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Lipeņa Property
Long Valley Property
Pastos Grandes
Afridi Lake Property
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The Lipeña Copper-Gold-Silver Project and Bonete Mining Concession, Bolivia
The Lipeña Project and the Bonete Mining Concession are located in southwest Bolivia. Encompassing an area of 5,875 hectares, the Bonete Mining Concession entirely surrounds the Lipeña property. The property is accessible year round by a series of gravel road leading to the town of San Pablo de Lípez. Within Lipeña's boundary there has been identified a NW-SE trending zone of alteration. Bleached rocks circumscribe to a belt of approximately 1,200 x 250 metres, oriented along a strike of 290º; an area of Miocene subhorizontal volcanic rocks where a structurally controlled hydrothermal alteration zone developed. This area is thought to represent the top level of a copper/gold porphyry system. In the Lipeña Zone (southeast section of the alteration belt), a tourmaline-bearing breccia pipe, at least 100 to 150 m in diameter is exposed. This breccia is thought to have been formed through magmatic hydrothermal processes. It is polymictic and has predominantly centimetre-sized fragments of volcanic rocks which show quartz/sericite/clay/chlorite alteration. Breccia matrix is tourmalinized with common open spaces. Mineralization also manifests in the breccia as coarse-grained chalcopyrite intergrown with lesser pyrite. Late specular hematite, gold and silver mineralization also occurs. Gold is not visible and is likely associated with Chalcopyrite. 
The current knowledge indicates that the Lipeña breccia pipe has at least 450 metres in vertical extent and it is open at depth. Its accurate shape and the distribution of the ore minerals within the pipe are still not very well defined. The geological characteristics of the project are akin to the uppermost section of a Cu-Au porphyry system, and have some peculiarities that are common at Cu-Au mineralization associated with alkaline intrusions. The occurrence of a Cu-Au deposit of large tonnage and low grade at depth is plausible, but the actual depth of this hypothetic mineralization is still unknown; factor that can be critical for its economic value.New World Resource Corp. -- Joint Ventures New World Resource Corp. has entered into an option agreement for a joint venture with Empresa Minera Unificada S.A. ("EMUSA") to acquire an undivided 75% interest in the Lipeña Project. EMUSA acquired the Lipeña Project in 1997. Under the Option Agreement (the "Agreement"), the Company has the right to acquire the 75% interest in the Lipeña property by making payments to the optionor, consisting of cash and the issuance of shares, and by incurring "qualifying" (exploration) expenditures on the property over a four year period. Additionally, New World Resource Corp has signed a joint venture agreement with Corporacion Minera de Bolivia ("COMIBOL") with respect to COMIBOL's interest in the Bonete Mining Concession. Under the agreement, the company is entitled to 60% interest and will act as operator of the joint venture. |
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