Newmac Resources Inc.: High Grade Molybdenum Mineralization Now Extends Over 400 m-Drilling Continues
09 July 2008 - 2:09AM
Marketwired Canada
Newmac Resources Inc. (TSX VENTURE:NER)(FRANKFURT:N3M) is pleased to announce
that drilling continues on the Crazy Fox Molybdenum Project, favourably located
100 km North of Kamloops, British Columbia. A detailed geophysical
(magnetometer) survey is currently underway, it is hoped that it will help to
determine areas of additional mineralization.
The goal of the current drilling is to extend known mineralization and explore
new areas of high potential.
Assays have now been received from hole CF08-52 and CF08-55.
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Hole From To Interval Interval MoS2 Mo W
CF08-52 (m) (m) (m) (ft) (%) (%) (%)
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Intercept 650.5 862.5 212 695 0.08 0.05 0.03
Including 816.5 826.5 10 33 0.20 0.12 0.02
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Hole From To Interval Interval MoS2 Mo W
CF08-55 (m) (m) (m) (ft) (%) (%) (%)
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Intercept 758 946 188 617 0.12 0.07 0.01
Including 872 924 52 171 0.17 0.10 0.005
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CF08-52 was collared 430 m south of hole CF07-41 and drilled on 315 degrees
azimuth at -75 degrees. Hole CF08-52 curved to the north as it was drilled and
did not penetrate the projected zone of higher grade mineralization The hole
intersected several high grade intersections, up to 0.33% Mo over 2 m. These
intersections have been interpreted as an indicator of the 'strength' of the
mineralizing system and may indicate the proximity of the projected high grade
zone to the west.
CF08-55 was collared 500 m south west of hole CF07-41 and drilled on 90 degrees
azimuth at -75 degrees. The hole intersected several high grade intersections,
up to 0.36% Mo over 2 m.
The discovery of high grade mineralization in hole CF 08-52 and CF 08-55,
extends the known higher grade mineral zone roughly 400 m along strike from CF
08-55 to CF08-41.
Samples from hole CF 08-56 are in the lab for assay, and will be released as
they are received.
CF08-57 is currently being drilled. Results will be released as they are received.
Hole CF07-41, (Reported previously) penetrated a low angle thrust fault at
approximately 390 m (1280 feet) and encountered mineralized intrusive rocks to
the bottom of the hole at a depth of 1021 m (3349 feet). Summary results for the
hole are as follows:
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Hole From To Interval Interval MoS2 Mo W
CF07-41 (m) (m) (m) (ft) (%) (%) (%)
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Intercept 400.7 830.7 430 1410 0.17 0.1 0.01
Including 646.7 796.7 150 492 0.29 0.18 0.01
Including 708.7 756.7 48 157 0.48 0.29 0.01
Including 708.7 722.7 14 46 0.96 0.58 0.01
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CF08-47 was collared 350 m west of hole CF07-41 and drilled to the east at -80
degrees. Hole CF08-47 curved to the south as it was drilled, and CF07-41 curved
to the north, therefore the two mineralized intersections are between 90 m to
150 m apart (Reported previously).
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Hole From To Interval Interval MoS2 Mo W
CF08-47 (m) (m) (m) (ft) (%) (%) (%)
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Intercept 467 791 324 1063 0.21 0.13 0.02
Including 523 713 190 623 0.29 0.18 0.02
Including 547 619 72 236 0.41 0.25 0.02
Including 565 619 54 177 0.48 0.29 0.03
Including 565 597 32 105 0.58 0.35 0.03
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The table in the May 28, 2008 news release incorrectly stated the tungsten
values in hole CF08-54. The values should read as follows.
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Hole From To Interval Interval MoS2 Mo W
CF08-54 (m) (m) (m) (ft) (%) (%) (%)
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Intercept 553.0 927.0 374 1,234 0.12 0.07 0.02
Including 673.0 873.0 200 660 0.16 0.095 0.02
Including 781.0 873.0 92 304 0.20 0.12 0.02
Including 781.0 791.0 8 26 0.62 0.37 0.01
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Assays were performed by Acme Analytical Laboratories Ltd. of Vancouver, B.C., a
certified facility, using a phosphoric acid leach with ICP-ES spectrometry
methods.
A 60 km detailed geophysical (magnetometer) survey has commenced on the Crazy
Fox Project. Preliminary studies and modeling suggests that the company might be
able to discriminate between areas underlain at depth (in our case, below the
thrust fault) by volcanic rocks and areas underlain by Intrusive rocks, which
would aid in the company's mapping of the lower half of the intrusion.
Technical content of this news has been reviewed by W. A. Howell, P.Geo, a
qualified person within the definitions of National Instrument 43-101.
Respectfully submitted
ON BEHALF OF THE BOARD
David Schmidt, President
This news release contains forward-looking statements within the meaning of the
"safe harbour" provisions of the Private Securities Litigation Reform Act of
1995. These forward-looking statements are subject to risks and uncertainties
and other factors that may cause Newmac Resources Inc.'s results to differ
materially from expectations. These include risks relating to market
fluctuations, property performance and other risks. These forward-looking
statements speak only as of the date hereof.
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