Click here to close now.


News Feed Item

New World Encounters Sulphide Mineralization in First Two Drill Holes at Agua Grande Gold-Copper Project, Chile/Corporate Restructuring

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 02/05/14 -- New World Resource Corp. (TSX VENTURE: NW)(FRANKFURT: NWU) ("New World" or the "Company") announces an update on the ongoing diamond drill program at the Agua Grande gold-copper project ("Agua Grande") located in Chile.

The first two holes of the proposed five hole drill program have been completed with a total drill depth of 755 metres ("m"). These two drill holes targeted areas of high induced polarization chargeability and are approximately 1,200m apart. The first drill hole, AGD-01 was drilled to a depth of 305m. The upper zone is leached and there is visible oxide mineralization to approximately 55m. This drill hole ended in sulphide mineralization which was observed from approximately 55m to 305m. Hole AGD-01 ended at 305m due to mechanical issues. The second drill hole, AGD-02 also ended in mineralization and was drilled to a depth of approximately 450m. The upper zone is leached with visible oxide mineralization to approximately 33m. Sulphide mineralization is then observed continuously to 450m. Photos of the drill core can be viewed on the Company's website, Photos for AGD-02 are currently available up to 241m. The remaining drill core for AGD-02 is reported to be similar to the material above in this hole and is similar to drill hole AGD-01. Assays results are pending and will be released upon receipt by the Company.

The drill program is being funded through an arrangement with the Company's project partner, Fondo de Inversion Privado EPG Exploracion Minera ("EPG Exploration Fund"), a private equity fund managed by EPG Partners S.A., in Santiago, Chile (reported January 21, 2014). The program was designed to test several copper and gold based targets that were identified through previous geophysical surveys and geochemical sampling. These geological indicators suggest the area is underlain by a porphyry-style mineralized system.

Agua Grande

Agua Grande, located in Region IV of Chile, consists of 15 concessions covering 1,074 hectares within the Agua Grande Mining District. The Project lies 900 metres above sea level and is approximately 95 kilometres northeast of La Serena and 565 kilometres north of Santiago. Power is available from the grid and approximately 20 kilometres to the north.

Small scale open-pit and underground mining has occurred in the area with grades ranging from 2 to 5 grams per tonne gold and from 0.6 to 3% copper. An intrusive complex of granitic to granodiorite composition outcrops in the Agua Grande area. The complex has two district-scale intersecting faults running north-northwest and these are believed to be the main feeders of hydrothermal fluids to the system. The area is extensively covered with colluvium and could overlie porphyry mineralization as indicated by the sampling and geophysics.

Quality Control and Assurance

Exploration work on the Agua Grande project is under the supervision of Brian McEwen, P.Geol., the Company's Chief Operating Officer, who is a "qualified person", as defined in National Instrument 43- 101, and is responsible for the preparation of the technical information contained in this news release.


New World has entered into an agreement with EPG Exploration Fund (reported November 20, 2013). Pursuant to the Agreement, EPG Exploration Fund owns 60% and the Company owns 40% interest in Minera Asturias SpA ("Asturias"). Asturias has entered into an option agreement with the Vendor to acquire up to 100% interest in Agua Grande by paying US$9,000,000 (US$150,000 paid) over 54 months. EPG Exploration Fund is the project operator.

About EPG Partners

EPG Partners S.A. is a Chilean financial boutique with focus on financial advisory and private equity fund management. EPG Exploration Fund was created to capture exploration opportunities in Chile. This fund is managed by a senior team with experience in geology, business administration and M&A transactions; and has a solid financial position to conduct exploration activities at early stage mining projects.

Corporate Update

The Company also announces, subject to TSX Venture Exchange approval, to consolidate its common shares. The Company proposes to consolidate its share capital of one (1) new share for every six (6) old shares (the "Consolidation") to provide the Company with the ability to attract financing in the current market conditions. The Company will not be changing its name and trading symbol in connection with the Consolidation.

As at the date hereof, there are an aggregate 56,834,892 issued and outstanding common shares. The share consolidation would result in an aggregate of approximately 9,472,482 common shares issued and outstanding post-consolidation. The exact number of post-consolidation common shares will vary depending on the treatment of fractional shares. Outstanding stock options would similarly be adjusted by the consolidation ratio.

A Letter of Transmittal with respect to the Consolidation will be mailed to the shareholders of the Company post consolidation describing the process by which shareholders may obtain new certificates representing their consolidated common shares.

The Company intends to effect the Consolidation immediately and will provide further details of the regulatory approval process in due course.

About New World

New World Resource Corp. is a Canadian based exploration company focused on building a strong, diversified project portfolio within the Americas. The Company's projects include the Lipena/Bonete copper-gold project and the Pastos Grandes lithium brine project in Bolivia.


John Lando, President

This news release includes "forward-looking information", as such term is defined in applicable securities laws. The forward-looking information includes, without limitation, exploration plans of the Company, including the time thereof, 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 performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among others, risks and uncertainties relating to exploration and development; risks arising as a result of the Company operating in Chile; the ability of the Company to obtain additional financing; including through EPG Exploration Fund funding pursuant to the Agreement; the Company's limited operating history; the need to comply with environmental and governmental regulations; potential defects in title to the Company's 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, except as required by law, the Company is under no obligation to update or alter any forward-looking information.


More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Organizations already struggle with the simple collection of data resulting from the proliferation of IoT, lacking the right infrastructure to manage it. They can't only rely on the cloud to collect and utilize this data because many applications still require dedicated infrastructure for security, redundancy, performance, etc. In his session at 17th Cloud Expo, Emil Sayegh, CEO of Codero Hosting, will discuss how in order to resolve the inherent issues, companies need to combine dedicated a...
The modern software development landscape consists of best practices and tools that allow teams to deliver software in a near-continuous manner. By adopting a culture of automation, measurement and sharing, the time to ship code has been greatly reduced, allowing for shorter release cycles and quicker feedback from customers and users. Still, with all of these tools and methods, how can teams stay on top of what is taking place across their infrastructure and codebase? Hopping between services a...
For almost two decades, businesses have discovered great opportunities to engage with customers and even expand revenue through digital systems, including web and mobile applications. Yet, even now, the conversation between the business and the technologists that deliver these systems is strained, in large part due to misaligned objectives. In his session at DevOps Summit, James Urquhart, Senior Vice President of Performance Analytics at SOASTA, Inc., will discuss how measuring user outcomes –...
Clearly the way forward is to move to cloud be it bare metal, VMs or containers. One aspect of the current public clouds that is slowing this cloud migration is cloud lock-in. Every cloud vendor is trying to make it very difficult to move out once a customer has chosen their cloud. In his session at 17th Cloud Expo, Naveen Nimmu, CEO of Clouber, Inc., will advocate that making the inter-cloud migration as simple as changing airlines would help the entire industry to quickly adopt the cloud wit...
While testing is often ignored when it comes to DevOps - it could be the most important aspect of achieving true DevOps success. Without rethinking automated testing from the ground-up, the entire DevOps productivity gain cannot be realized. Large tech companies build their own rapid test automation that runs in minutes across functional, performance, security and other tests. In his session at DevOps Summit, Kevin Surace, CEO of Appvance, will discuss how we learn from these real-world succe...
SYS-CON Events announced today that VividCortex, the monitoring solution for the modern data system, will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. The database is the heart of most applications, but it’s also the part that’s hardest to scale, monitor, and optimize even as it’s growing 50% year over year. VividCortex is the first unified suite of database monitoring tools specifically desi...
Apps and devices shouldn't stop working when there's limited or no network connectivity. Learn how to bring data stored in a cloud database to the edge of the network (and back again) whenever an Internet connection is available. In his session at 17th Cloud Expo, Bradley Holt, Developer Advocate at IBM Cloud Data Services, will demonstrate techniques for replicating cloud databases with devices in order to build offline-first mobile or Internet of Things (IoT) apps that can provide a better, ...
Interested in leveraging automation technologies and a cloud architecture to make developers more productive? Learn how PaaS can benefit your organization to help you streamline your application development, allow you to use existing infrastructure and improve operational efficiencies. Begin charting your path to PaaS with OpenShift Enterprise.
“All our customers are looking at the cloud ecosystem as an important part of their overall product strategy. Some see it evolve as a multi-cloud / hybrid cloud strategy, while others are embracing all forms of cloud offerings like PaaS, IaaS and SaaS in their solutions,” noted Suhas Joshi, Vice President – Technology, at Harbinger Group, in this exclusive Q&A with Cloud Expo Conference Chair Roger Strukhoff.
SYS-CON Events announced today that Agema Systems will exhibit at the 17th International Cloud Expo®, which will take place on November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Agema Systems is the leading provider of critical white-box rack solutions to data centers through the major integrators and value added distribution channels.
SYS-CON Events announced today that Cloud Raxak has been named “Media & Session Sponsor” of SYS-CON's 17th Cloud Expo, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Raxak Protect automates security compliance across private and public clouds. Using the SaaS tool or managed service, developers can deploy cloud apps quickly, cost-effectively, and without error.
DevOps is gaining traction in the federal government – and for good reasons. Heightened user expectations are pushing IT organizations to accelerate application development and support more innovation. At the same time, budgetary constraints require that agencies find ways to decrease the cost of developing, maintaining, and running applications. IT now faces a daunting task: do more and react faster than ever before – all with fewer resources.
SYS-CON Events announced today that ProfitBricks, the provider of painless cloud infrastructure, will exhibit at SYS-CON's 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. ProfitBricks is the IaaS provider that offers a painless cloud experience for all IT users, with no learning curve. ProfitBricks boasts flexible cloud servers and networking, an integrated Data Center Designer tool for visual control over the...
SYS-CON Events announced today that Key Information Systems, Inc. (KeyInfo), a leading cloud and infrastructure provider offering integrated solutions to enterprises, will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Key Information Systems is a leading regional systems integrator with world-class compute, storage and networking solutions and professional services for the most advanced softwa...
Mobile messaging has been a popular communication channel for more than 20 years. Finnish engineer Matti Makkonen invented the idea for SMS (Short Message Service) in 1984, making his vision a reality on December 3, 1992 by sending the first message ("Happy Christmas") from a PC to a cell phone. Since then, the technology has evolved immensely, from both a technology standpoint, and in our everyday uses for it. Originally used for person-to-person (P2P) communication, i.e., Sally sends a text...