||News Releases are added to our web site immediately upon release to the general public. If you would like to receive news releases via e-mail or fax, please fill out our Request More Information form.
| ||Thu Feb 28, 2008|
New World Recommences Program At Lipeña, Bolivia
| ||Vancouver B.C. - New World Resource Corp. (the "Company") announces the immediate recommencing of its exploration program on the Lipeña copper-gold project in southern Bolivia. The Company recently announced in a news release dated January 17, 2008, that it has signed a joint venture agreement with Corporación Minera de Bolivia (COMIBOL) with respect to approximately 6,000 hectares of COMIBOL's Bonete mining concession. The relevant portion of the concession surrounds the Company's Lipeña copper-gold project. COMIBOL is the Bolivian government entity that controls all mineral exploration on state owned lands. This new partnership with the Bolivian government entity gives us the confidence to resume exploration at Lipeña and Bonete.|
The program will focus on two aspects concurrently. One program will continue to further delineate and define the Lipeña zone initially through an expanded magnetics survey and a deep penetrating three dimensional Induced Polarization (IP) survey. These geophysical surveys will be followed by diamond drilling with a goal to continue to delineate the Lipeña zone to the southeast on to the Bonete concession. To date the Lipeña zone is the most advanced of the three breccia bodies, however additional drilling is also required within the La Mosa and Central zone, as these areas have only undergone preliminary drilling. All three zones contain copper, gold and silver mineralization within a quartz-tourmaline breccia.
The second and concurrent exploration program will be regional in scope focusing on the Bonete concession. A magnetic survey, detailed mapping, prospecting, rock, soil and stream sediment sampling will all be undertaken. Historically the Bonete concession has received limited exploration however recent mineralization and alteration studies indicate that the known breccia at Lipeña may represent the uppermost levels of a deeper copper-gold porphyry system in an area that has not been evaluated from a porphyry perspective. Of equal importance, it is common within this model type to have numerous quartz tourmaline breccia bodies. To date only three have been discovered. The planned regional program has been designed to identify drill targets to test for both a porphyry system and additional breccia bodies.
Quality Control and Assurance
Exploration work on the Lipeña project will be under the supervision of Joan McCorquodale, P.Geo, the Company's Vice President, Exploration and a "qualified person" as defined in National Instrument 43-101. Ms. McCorquodale is responsible for the preparation of the technical information contained in this news release.
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.
NEW WORLD RESOURCE CORP.
John Lando, President
For information with respect to the Company or the contents of this news release, please contact John Lando or Don Flahiff at (604) 669-2701 or toll free at 1-800-663-0510, email at firstname.lastname@example.org, or visit the web site at www.newworldresource.com.
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 similar statements concerning anticipated future events, conditions or results that are not historical facts. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. The Company cautions that all forward-looking information is inherently uncertain and that actual results may vary from the forward-looking information. A number of material factors, many of which are beyond the Company's control, could cause actual results to differ materially from the forward-looking information. Such factors include, among others, risks and uncertainties 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. Accordingly, actual future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. All statements are made as of the date of this news release and the Company is under no obligation to update or alter any forward-looking information.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.
You can view the Next News Releases item: Tue Apr 22, 2008, Exploration Program is Underway on Bonete Concession, Lipeña Project, Bolivia
You can view the Previous News Releases item: Thu Jan 17, 2008, New World Secures Surrounding Ground At Lipeña Through Partnership with Bolivian National Mining Corporation, COMIBOL
You can return to the main News Releases page, or press the Back button on your browser.