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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.
| | Wed May 7, 2008
Initial 43-101 Resource Estimate Commissioned for Lipeña Deposit, Bolivia
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| | Vancouver B.C. - New World Resource Corp. ("New World" or the "Company") is pleased to announce that it has retained GeoSim Services Inc. ("GeoSim") to provide an independent, National Instrument 43-101 compliant resource estimate for the Company's Lipeña gold-copper deposit in Bolivia. GeoSim has a solid reputation in the mining industry and has provided consulting services to many advanced exploration companies including Yamana Gold Inc., Novagold Resources Inc., and Viceroy Exploration Ltd.
The resource estimate at Lipeña will be derived from drilling programs carried out by the Company and by the previous operator. The drilling to date totals 18,200 metres within 57 holes (31 reverse circulation, 26 diamond drill). The estimate will not reflect any results from the Company's current exploration program on the surrounding Bonete concession. The Company has a joint venture agreement with Corporación Minera de Bolivia (COMIBOL) with respect to approximately 6,000 hectares of COMIBOL's Bonete mining concession, which surrounds the Lipeña project. COMIBOL is the Bolivian government entity that controls all mineral exploration on state owned lands.
Although exploration work at the Lipeña project is still at an early stage, and the project requires a substantial amount of additional drilling to delineate the extent of the mineralization, this initial resource estimate will provide the Company with useful base numbers, which can be built upon as additional exploration work is completed.
Company President John Lando stated, "The 43-101 compliant resource estimate we have commissioned from GeoSim will provide us with a number that we can add to as we further explore our land position. The Lipeña deposit remains open in more than one direction, and the regional land package we have joint ventured on with the Bolivian government will be brought to drill ready status to test for additional mineralized breccia and to begin the hunt for a porphyry system that is suspected to be the root of the known breccia mineralization at Lipeña."
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 info@newworldresource.com, 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. |
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| | You can view the Next News Releases item: Wed Jul 9, 2008, Three New Breccia Zones Identified on Bonete Concession
You can view the Previous News Releases item: Tue Apr 22, 2008, Exploration Program is Underway on Bonete Concession, Lipeña Project, Bolivia
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