New World Resource Higher in Late Trade as Pastos Grandes Lithium Project Advances
New World Resource Corp. (NW.V) is getting some upside support, holding on to a 6% advance at 36 cents a share after drilling at its Pastos Grandes lithium brine project in southwestern Bolivia produced 30 metres of 1,395 parts per million Lithium. Shares earlier reached 40 cents each before easing.
According to the company, the drill program is more than 50% complete. Once drilling is finished, several sites will be selected for hydrologic assessment with controlled pumping carried out in the centrally located pump holes and adjacent monitoring wells used to determine drawdown rates for each aquifer.
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