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| | Fri Jun 8, 2007
New World Provides Lipeña Project Update
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| | Vancouver, B.C. - New World Resource Corp. (the "Company") reports that the results of exploration drilling on the La Mosa and Central Zones at its Lipeña Project, in Bolivia have confirmed the lateral extension of favourable host rock previously encountered by drilling in the nearby Lipeña Zone.
The La Mosa and Central Zones are located northwest of the known copper- and gold- bearing quartz tourmaline breccia in the Lipeña zone. Drilling on the La Mosa and Central Zones also intersected the quartz tourmaline breccia, extending its known strike length to more than 800 metres. The presence of significant gold values in the La Mosa and Central Zones outside of the known copper mineralization indicates the continuation of a widespread epithermal gold system.
The Company's second drilling program at the Lipeña Project comprised 2,653 metres of diamond drilling in six holes. Results for two holes (06DLP-52 and 06DLP-53), drilled at opposite ends of the Lipeña Zone, were reported February 27, 2007. Significant intersections in exploratory holes 06DLP-54 to 06DLP-57 in the La Mosa and Central Zones are as follows:
Table 1: Significant Drilling Results -- La Mosa and Central Zones - Lipeña Project, Bolivia
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|
Core |
True |
|
|
|
|
From |
To |
Width |
Width |
Au |
Cu |
Ag |
Hole |
(metres) |
(metres) |
(metres) |
(metres) |
(g/t) |
(%) |
(g/t) |
06DLP-54 |
273.4 |
311.0 |
37.6 |
24.2 |
0.61 |
0.26 |
4.9 |
06DLP-55 |
75.5 |
158.0 |
82.5 |
61.0 |
0.83 |
0.05 |
2.76 |
includes |
75.5 |
95.9 |
20.4 |
15.4 |
1.0 |
0.08 |
1.72 |
06DLP-56 |
65.3 |
90.0 |
24.7 |
18.4 |
0.51 |
0.49 |
1.70 |
06DLP-56 |
399.9 |
401.0 |
1.1 |
1.0 |
3.72 |
1.37 |
2.32 |
06DLP-57 |
18.5 |
64.0 |
45.5 |
39.4 |
0.50 |
0.05 |
0.75 |
Previously reported holes from opposite ends of the nearby Lipeña Zone are set out below:
Table 2: Significant Drilling Results --Lipeña Zone - Lipeña Project, Bolivia
|
|
|
Core |
True |
|
|
|
|
From |
To |
Width |
Width |
Cu |
Au |
Ag |
Hole |
(metres) |
(metres) |
(metres) |
(metres) |
(%) |
(g/t) |
(g/t) |
06DLP-52 |
270.8 |
362 |
91.3 |
67.3 |
1.33 |
2.64 |
16.2 |
06DLP-53 |
248 |
351 |
103 |
85.6 |
1.39 |
2.19 |
19.2 |
The gold values encountered in holes 06DLP-54 through 06DLP-57, although lower and less pervasive than those encountered in the Lipeña Zone, show the same style and association with quartz-carbonate vein systems. The results provide significant initial encouragement and will be followed by additional drilling at the under-explored La Mosa and Central Zones.
As a result of this drilling program, the defined strike length of the northwest-southeast trending Lipeña Zone breccia has now been extended to 150 metres, and contains widths of up to 191 metres. The zone remains open along strike to the southeast and to depth.
Lipeña Geology
Mineralization at Lipeña is hosted by a quartz-tourmaline breccia with a complex morphology and mineral deposition history. Petrographic analysis of the core from the Company's first drilling program has shown that the majority of the fragments caught up in the tourmaline breccia consist of porphyritic volcanics and intrusives. Most of the fragments show evidence of intense potassic alteration. Some clasts of porphyritic dacite contain disseminated chalcopyrite, which indicates that the breccia may represent the uppermost levels of a deeper copper-gold porphyry system.
Bolivia Political Update
The Bolivian government recently has reiterated publicly its intention to respect private investments in its mining sector. The government has also indicated that the taxation of mining will be primarily based on gross profit rather than gross revenue. Company management is encouraged by these statements.
Separately, the Company continues its discussions with the state mining company, COMIBOL, with regard to the property adjoining Lipeña, over which the Company has been granted an exclusive prior right of dealing. All documentation requested by COMIBOL has been filed and Company representatives have had initial discussions toward establishing the terms of its joint venture with COMIBOL.
Quality Control and Quality Assurance
Exploration on the Lipeña 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. Except where indicated, mineralized widths reported are core lengths and may not represent the true widths of mineralization.
About New World
New World Resource Corp. is a Canadian mineral 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. To view a location map of the Lipeña project, visit the Company website at www.newworldresource.com.
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 Jun 27, 2007, New World Closes Private Placement
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