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Wed Jul 29, 2009 New World Begins Sampling Program At Pastos Grandes Lithium Brine Project
Vancouver B.C. - New World Resource Corp. (the "Company") announces the commencement of a brine sampling program beginning this week.
The Company is mobilizing a highly experienced brine sampling team to expand and confirm historical data on its 99% owned Lithium, Potash Pastos Grandes project and to test other prospects within the prolific salar region of the Bolivian Altiplano. The Company has compiled a data base of all known brine samples in Bolivia. This sampling program will expand known sample patterns and will add valuable data to the existing database.
Historical brine samples from Pastos Grandes show an average of 1,009 parts per million ("ppm") Lithium, 17,253 ppm Potassium, and very low Mg/Li and SO4/Li ratios of 2.2 and 3.0 respectively. This compares favourably to the Chemetall's Atacama ratios of Mg/Li = 6.4 and SO4/Li = 11. As a general rule, lower Mg/Li and SO4/Li ratios facilitates lithium recovery. The Chemetall Foote Corporation owns and operates a lithium brine operation within the Salar de Atacama, located 200 km east of Antofagasta in northern Chile.
The Joint Venture with Gonzalo Miranda Salles and María Elena Gumucio Salles (together, "Salles") has a term of 20 years and the initial participation interests are 99% for the Company's subsidiary, New World Bolivia S.A. and 1% for Salles. In order to keep the Joint Venture in good standings, the Company must make payments to Salles totaling US$446,000 (US$14,000 paid) over five years and make the 'Patentes Mineras' payments to the government to keep the concession in good standing. The Joint Venture does not provide for any minimum work commitment. The project concession size covers approximately 60 square kilometres and is located in the Sud Lipez Province, Department of Potosi within the Bolivian Altiplano.
Pastos Grandes Concession.
The Bolivian Altiplano is host to many alkaline and saline lakes and salars including the Salar de Uyuni which hosts the world's largest known lithium reserve. Pastos Grandes is located approximately 113 kilometres south southwest from Salar de Uyuni, within the same geological and geographical setting. This hyper saline lake/salar basin is surrounded by intermittent rivers and thermal springs discharging waters into the salar. The Pastos Grandes salar is elliptical in shape with the major axis of trending NW -- SE and covers an area of almost 120 km2.
La Negra Project, Chile.
The Company reports the return of the project to the vendor.
Quality Control and Assurance
Joan McCorquodale, P. Geo is the Company's Vice President, Exploration and "qualified person" as required under National Instrument 43-101 and has reviewed the technical information contained in this press 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 , 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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