New World Resource Corp.

New World Resource Corp.

November 07, 2006 09:00 ET

New World Resource Corp.: Lipena Magnetic Survey Nears Completion; Second Phase Drilling to Begin Shortly

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 7, 2006) - New World Resource Corp. (the "Company") (TSX VENTURE:NW) reports on ongoing exploration at its Lipena gold and copper project, Bolivia.

A detailed magnetic survey is now nearing completion over the Lipena, Central, and La Mosa zones of the property. This geophysical work is designed to delineate and define additional targets within these underexplored zones for a second round of diamond drilling that is scheduled to commence on November 20, 2006.

Two diamond drill rigs now being mobilized to the project will operate on a full-time basis. The new program has two objectives: to build a NI 43-101 compliant resource on the Lipena zone, and to test exploration targets at the Central and the La Mosa zones.

Detailed petrographic analysis of the core from the Company's first drill program has shown the majority of the fragments caught up in the tourmaline breccia at Lipena to have undergone intense potassic alteration. Clasts of porphyritic dacite with disseminated chalcopyrite are present within the breccia. This analysis is understood to suggest that the breccia is the top level expression of a deeper copper-gold porphyry system.

Company President, John Lando, commented: "We were delighted to have intersected wide zones of significant gold and copper mineralization in all seven holes that we drilled in our first program at Lipena. The subsequent results of the petrographic analysis of that drilling have only increased our sense of the potential of the project."

Previous Lipena Drilling

The Company's first drill program at Lipena was designed to verify the results of drilling by a previous operator, a subsidiary of Battle Mountain Gold Corp. ("Battle Mountain"), and to expand the known mineralized deposit in modest step-outs from historical intercepts. The program successfully accomplished both of these objectives.

Battle Mountain reportedly completed a total of 12,000 metres of, primarily, reverse circulation drilling; although, no core or rejects remain available for study. In order to assess the accuracy of these historical drill results, and obtain valuable geological information, the Company drilled one twin hole in each of the three mineralized zones originally identified by Battle Mountain.

Mineralization is hosted in a tourmaline breccia with a complex morphology. In order to explore the deposit meaningfully, drilling must be methodical, on a tightly spaced grid. The second-phase program will continue with this drill pattern, with a view to building a NI 43-101 compliant resource at Lipena, as quickly and efficiently as possible.

Lipena Geology

The copper, gold and silver mineralization at Lipena is hosted by a subvertical magmatic hydrothermal breccia, with a vuggy, drusy hydrothermal quartz and tourmaline matrix, intruding a sequence of Miocene intermediate volcanics and volcaniclastics. The magmatic hydrothermal breccia bodies cut all other rock types and follow a west-northwest trending structure.

Copper, gold, and silver mineralization is associated with a tourmaline and quartz breccia. The mineralization consists of chalcopyrite, chalcocite, pyrite and specular hematite. The gold occurs as discrete grains within the mineralized zones. Recently, intense K-feldspar alteration has been observed within the clasts of the breccia. The mineralogy and alteration characteristics suggest that this breccia represents the uppermost level of a copper-gold porphyry system. A late stage epithermal event is sporadically exposed as cryptocrystalline and vuggy quartz-veining, within the breccias.

Quality Control and Quality Assurance

Exploration work on the Lipena 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.

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

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

Contact Information