New World Begins Sampling Program At Pastos Grandes Lithium Brine Project
Vancouver B.C. - New World Resource Corp. (the "Company") announces the commencement of a brine sampling program beginning this week.
The Company is mobilizing a highly experienced brine sampling team to expand and confirm historical data on its 99% owned Lithium, Potash Pastos Grandes project and to test other prospects within the prolific salar region of the Bolivian Altiplano. The Company has compiled a data base of all known brine samples in Bolivia. This sampling program will expand known sample patterns and will add valuable data to the existing database.
Historical brine samples from Pastos Grandes show an average of 1,009 parts per million ("ppm") Lithium, 17,253 ppm Potassium, and very low Mg/Li and SO4/Li ratios of 2.2 and 3.0 respectively. This compares favourably to the Chemetall's Atacama ratios of Mg/Li = 6.4 and SO4/Li = 11. As a general rule, lower Mg/Li and SO4/Li ratios facilitates lithium recovery. The Chemetall Foote Corporation owns and operates a lithium brine operation within the Salar de Atacama, located 200 km east of Antofagasta in northern Chile.
The Deal
The Joint Venture with Gonzalo Miranda Salles and Mar?a Elena Gumucio Salles (together, "Salles") has a term of 20 years and the initial participation interests are 99% for the Company's subsidiary, New World Bolivia S.A. and 1% for Salles. In order to keep the Joint Venture in good standings, the Company must make payments to Salles totalling US$446,000 (US$14,000 paid) over five years and make the 'Patentes Mineras' payments to the government to keep the concession in good standing. The Joint Venture does not provide for any minimum work commitment. The project concession size covers approximately 60 square kilometres and is located in the Sud Lipez Province, Department of Potosi within the Bolivian Altiplano.
Pastos Grandes Concession.
The Bolivian Altiplano is host to many alkaline and saline lakes and salars including the Salar de Uyuni which hosts the world's largest known lithium reserve. Pastos Grandes is located approximately 113 kilometres south southwest from Salar de Uyuni, within the same geological and geographical setting. This hyper saline lake/salar basin is surrounded by intermittent rivers and thermal springs discharging waters into the salar. The Pastos Grandes salar is elliptical in shape with the major axis of trending NW -- SE and covers an area of almost 120 km2.
La Negra Project, Chile.
The Company reports the return of the project to the vendor.
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.
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
www.newworldresource.com
For further information call:
Luc St-Pierre
Phone: 514 904-1333 Phone: 514 904-1333
Email: luc@mi3.ca
OR:
Mario Drolet, President
Phone: 514 904-1333 Phone: 514 904-1333
Email: mario@mi3.ca
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New World Resource Corp.
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CODE : NW.V |
ISIN : CA6492971081 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
New World Res. is a gold and copper exploration company based in Canada. New World Res. holds various exploration projects in Bolivia and in USA. Its main exploration properties are LONG VALLEY PROJECT in USA and PASTOS GRANDES and LIPENA in Bolivia. New World Res. is listed in Canada and in United States of America. Its market capitalisation is CA$ 2.7 millions as of today (US$ 2.0 millions, € 1.8 millions). Its stock quote reached its highest recent level on February 11, 2011 at CA$ 3.30, and its lowest recent point on November 06, 2015 at CA$ 0.01. New World Res. has 13 299 045 shares outstanding. |