Dec 16 2010
New World Resource Corp. (TSX VENTURE:NW)(FRANKFURT:NWU) has announced the commencement of an Induced Polarization geophysical survey over the Lipeña project and over a portion of the surrounding Bonete concession.
The geophysical IP survey covers the National Instrument 43-101 ("NI 43-101") Resource Estimate area and continues well on to the surrounding Bonete concession. The survey covers approximately 9km2 and will consist of a minimum 70 line kilometres of IP.
It is the intention that this survey will add additional drill targets to the existing target list and through future drilling will increase the existing NI 43-101 resource estimate (news release October 15, 2008).
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 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, 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.
With the addition of this IP survey data and our 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.
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.