Newmac Resources Inc.: High Grade Molybdenum Mineralization Now Extended Over 250 m Drilling Continues With Two Diamond Drills
24 Avril 2008 - 6:55PM
Marketwired Canada
Newmac Resources Inc. (TSX VENTURE:NER) is pleased to announce that drilling
continues with two diamond drills on the Crazy Fox Molybdenum Project, which is
favourably located 100 km North of Kamloops, British Columbia.
Assays have been received for holes CF08-49 and CF08-51. The company is
particularly encouraged by hole CF08-51, which collared 305 m west of hole
CF07-41 and drilled at 135 degrees azimuth at -80 degrees. Hole CF08-51 curved
to the south as it was drilled, this resulted in the hole not crossing the
entire projected mineralized zone, and the hole went out of mineralization as it
went to depth.
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Hole From To Interval Interval MoS2 Mo W
CF08-51 (m) (m) (m) (ft) (%) (%) (%)
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Intercept 437.5 781.5 344 1128 0.18 0.11 0.01
Including 641.5 777.5 136 446 0.29 0.18 0.02
Including 697.5 777.5 46 151 0.43 0.26 0.01
Including 715.5 743.5 28 92 0.48 0.29 0.01
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With the successful location of high grade mineralization in hole CF08-51.
Roughly 250 m of high grade mineralization has been intersected along strike
from CF08-51 to CF08-41.
The mineralization encountered can be described as mainly stockwork in style
with minor dissemination. Molybdenite and wolframite occurring as disseminated
blebs and streaks and in the selvages of centimeter scale quartz veinlets and
smaller fractures trending in several orientations. Occasional veinlets of
massive molybdenite up to several centimeters in width have been previously
noted.
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Hole From To Interval Interval MoS2 Mo W
CF08-49 (m) (m) (m) (ft) (%) (%) (%)
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Intercept 414 604 192 623 0.05 0.03 0.01
Including 414 554 40 131 0.07 0.04 0.02
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CF08-49 was drilled at -75 degrees at an azimuth of 50 degrees from a collar
located 300 m northwest from the collar of CF07-41 (see plan map on website).
This hole went through molybdenum mineralization, and exited the lower half of
the intrusion at 590 m. The hole encountered molybdenum and tungsten
mineralization, but to a lesser degree than encountered in CF08-51, CF07-41 and
CF 08-47.
Drill hole CF08-50 was lost before reaching the thrust fault.
The company is currently drilling with two diamond drills, with the goal of
extending know mineralization and exploring new areas of high potential.
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 (March 31, 2008 news release,
incorrectly stated this as east of hole CF07-41, when in fact it is west) 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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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.
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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