Update On Lipena/Bonete and Pastos Grandes Projects
VANCOUVER, BC - New World Resource Corp. reported on operations currently underway at its' two flagship projects; Lipeûa/Bonete copper-gold project and Pastos Grandes lithium brine project, both in Bolivia.
The Company has completed approximately 3,100 metres of drilling to date in a planned 5,000 metre first phase program to expand the National Instrument 43-101 compliant Lipeûa resource and to explore the surrounding Bonete claims. Assay laboratories in South America are currently experiencing extremely slow turnaround times due to a heavy volume of drilling taking place in the region. The Company will report drill results when a representative amount of analytical results have been received from the laboratory.
At Pastos Grandes Lithium Brine Project the Company has completed the expansion and construction of the on-site laboratory, offices and accommodations. The planned drill program is over 50 percent complete and has delivered strong lithium content results. An abnormally severe rainy season has hampered the efficiency of the program; however, management continues to be encouraged with the high grade lithium and overall chemistry of the salar.
Management is currently in discussions with a number of strategic groups that would greatly benefit the development of Pastos Grandes. The Company recognizes the importance of delivering the correct strategic partner to this project and will announce any developments on this front as soon as anything material occurs. Drilling is currently on hold while the next phase of work is being planned.