New World Resource Corp.

New World Resource Corp.

June 20, 2011 09:00 ET

New World Announces the Commencement of Lipena-Bonete Drill Program

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 20, 2011) -


New World Resource Corp. (the "Company") (TSX VENTURE:NW)(FRANKFURT:NWU) announces the commencement of a 10,000 metre diamond drilling program at the Lipeña-Bonete project, in Bolivia. The program is designed to extend the previously reported National Instrument 43-101 ("NI 43-101") resource outlined within the original Lipeña property and to expand and test new targets in the encompassing Bonete property.

Drilling is now underway, and will run concurrently with the ongoing geophysical Induced Polarization ("IP") survey.

Company President & CEO, John Lando, commented: "We are very excited about getting a drill back on the Lipeña deposit and to test targets in the surrounding Bonete property. The Company is well funded and ready to make significant progress. The crews are now on site and the drill is turning."

The Company has completed an integrated interactive 3D model that merged the pre-existing geophysics, geochemical, geological, and resource block models. This model allows the team to view and interpret all relevant data in a quantitative relationship and will aid in the selection of 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 Central, contain significant gold intercepts. At La Mosa an interval of 127.2 metres from 36 to 163.2 metres returned 1.3 grams per tonne ("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. 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 NI 43 101 resource of:

Open Pit Resource Estimate
Cut-off %CuEQIndicatedInferred
Tonnes ≥ CutoffCu %Au g/tAg g/tCuEQ%Tonnes ≥ CutoffCu %Au g/tAg g/tCuEQ%
Underground Resource Estimate
Cut-off %CuEQIndicatedInferred
Tonnes ≥ CutoffCu %Au g/tAg g/tCuEQ%Tonnes ≥ CutoffCu %Au g/tAg g/tCuEQ%


  • The mineral resources were estimated by ordinary kriging constrained by a 3D solid model based on 0.20% copper equivalent grade shells. The grade shells are both within and outside of the quartz-tourmaline breccia zones and are used as hard boundaries to limit composite extraction, geostatistical analysis and block grade estimation. The block model was created with Surpac Vision software using a block size of 10x10x10 metres.
  • Grade estimation was based on analyses of core samples from 26 diamond drill holes and 17 reverse circulation holes for a total of 11,403 metres completed between 1994-96 and 2006-07. The nominated composite length was set at three metres. The density values assigned to the major lithologies were based on 434 bulk density measurements of drill core.
  • Copper equivalent is calculated as follows: %CuEQ (Copper equivalent) = %Cu + g/t Au * 0.604 + g/t Ag * 0.01, with Cu (copper) at $2.55/lb, Au (gold) at $1035/oz, and Ag (silver) at $17.25/oz.

Readers are cautioned that mineral resources are not mineral reserves until positive economic viability has been demonstrated, through a feasibility study or pre-feasibility study. The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues. The quantity and grade of reported inferred resources in this estimate are uncertain in nature and there has been insufficient exploration to define these inferred resources as indicated or measured mineral resources and it is uncertain if further exploration will result in upgrading them to an indicated or measured minerals resource category.

Quality Control and Assurance

Exploration work on the Lipeña-Bonete project will be under the supervision of Joan McCorquodale, P.Geo, the Company's Vice President, Exploration, who is the qualified person, as defined in NI 43-101, and is responsible for the preparation of the information contained in this news release.

About New World

New World Resource Corp. is a Canadian mineral exploration company focused on building a strong, diversified project portfolio within the Americas.


John Lando, President & CEO

This news release includes "forward-looking information", as such term is defined in applicable securities laws. The forward-looking information includes, without limitation, statements regarding the extent and timing of its exploration programs, exploration program budgets and exploration results. This forward-looking information is given as of the date of this news release. Users of forward-looking information are cautioned that actual results may vary from the forward-looking information contained herein. While the Company has based this forward-looking information on its expectations about future events as at the date that such information was prepared, the information is not a guarantee of the Company's future performance and is subject to risks, uncertainties, assumptions and other factors which could cause actual results to differ materially from future results expressed or implied by such forward-looking information. Such factors and assumptions include, amongst others, the effects of general economic conditions, changing foreign exchange rates and actions by government authorities, uncertainties associated with legal proceedings and negotiations and misjudgments in the course of preparing forward-looking information. In addition, there are also known and unknown risk factors which could cause the Company's actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information. Known risk factors include, among others, risks 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. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company is under no obligation to update or alter any forward-looking information except as required under applicable securities laws.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.

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