| | Vancouver B.C. - New World Resource Corp. ("New World" or the "Company") announces an extensive review and integration of the Lipeña and Bonete models. The Company has appointed Mira Geoscience Ltd. to work with New World's exploration team to merge the pre-existing geophysics, geochemical, geological, and resource block models into an integrated interactive 3D model. This approach allows the team to view and interpret all relevant data in a quantitative relationship and will aid in the selection of future drill targets.
Previous work has located three main zones of hydrothermal magmatic breccias, which have been named: La Mosa, Central and Lipeña from northwest to southeast. At surface these appear to be separate bodies, however the drill data suggests that they are likely related at depth, and represent the top of a porphyry system. The Lipeña zone has received the majority of the drilling to date, however, the two other zones; La Mosa and the Central zones contain significant gold intercepts. At La Mosa an interval of 127.2 metres from 36 to 163.2 metres returned 1.3 g/t gold including 10.9 metres of 7.5 g/t gold, and in the Central zone a diamond drill hole intersected 71 metres of 1.2 g/t gold from 78 to 149 metres (reported October 25, 2006). Within the Lipeña zone previously announced on September 13, 2006 drill hole 06DLP-47 intersected 212 metres of 2.6 g/t gold, 1.5% copper and 21.9 g/t silver, including 70 metres of 5.3 g/t gold, 3.2% copper, and 47.2 g/t silver, which in turn included an interval of 8 metres running 23.2 g/t gold, 7.5% copper and 90.6 g/t silver. This drill hole may represent a feeder system and requires further delineation.
The Lipeña project and the surrounding Bonete concession encompasses approximately 6,000 hectares. The Lipeña project has undergone more than 18,000 metres of drilling and has a previously reported (October 15, 2008) National Instrument 43 101 resource of:
Open Pit Resource Estimate
Cut-off
%CuEQ |
Indicated |
Inferred |
Tonnes ≥
Cutoff |
Cu % |
Au
g/t |
Ag
g/t |
Tonnes ≥
Cutoff |
Cu % |
Au
g/t |
Ag
g/t |
0.30 |
1,913,880 |
0.70 |
0.07 |
25.5 |
4,519,050 |
0.64 |
0.24 |
21.7 |
0.40 |
1,613,760 |
0.80 |
0.07 |
25.7 |
4,005,810 |
0.71 |
0.26 |
21.1 |
0.50 |
1,407,120 |
0.89 |
0.08 |
23.7 |
3,498,240 |
0.77 |
0.27 |
21.0 |
Underground Resource Estimate
Cut-off
%CuEQ |
Indicated |
Inferred |
Tonnes ≥
Cutoff |
Cu % |
Au
g/t |
Ag
g/t |
Tonnes ≥ Cutoff |
Cu % |
Au
g/t |
Ag
g/t |
0.50 |
7,020,840 |
0.96 |
1.15 |
11.1 |
5,846,070 |
0.51 |
0.60 |
8.7 |
1.00 |
4,088,520 |
1.27 |
1.68 |
14.3 |
832,140 |
0.84 |
1.13 |
13.1 |
1.50 |
2,553,480 |
1.56 |
2.01 |
16.9 |
196,800 |
1.08 |
1.64 |
15.6 |
Copper equivalent is calculated as follows: %CuEQ (Copper equivalent) = %Cu + g/t Au * 0.345 + g/t Ag * 0.0064, with Cu (copper) at $2.75/lb, Au (gold) at $650/oz, and Ag (silver) at $12/oz
With the aid of this newly generated and interactive 3D modeling system, additional drill targets will be identified so that future drilling will further define all three zones within the Lipeña project and also the surrounding Bonete concession. This new modeling tool is also expected to generate targets in the hunt for the porphyry that is believed to be associated with the known hydrothermal magmatic breccia system.
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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