THEMAC Resources Group Appoints New Chief Executive Officer
29 Août 2011 - 3:00PM
Marketwired
THEMAC Resources Group Limited ("THEMAC" or "the Company") (TSX
VENTURE: MAC) is pleased to announce that Mr. Andre Douchane has
accepted the position of Chief Executive Officer of the Company,
effective immediately. Mr. Douchane is replacing Mr. Barrett
Sleeman who is retiring but will remain as an executive director
until the Annual General Meeting to be held on 21 December, 2011.
Mr. Douchane holds Bachelor of Science, Mining Engineering
granted by the New Mexico Institute of Mining and Technology and
has over 35 years' experience in the mining industry, most recently
employed in the role of President & CEO of Starfield Resources
Inc. He is also Chairman of North American Palladium Ltd.
Mr. Douchane has had extensive experience at all levels within
the mining industry and when employed by Franco-Nevada Mining
Corporation was responsible for the team that permitted, designed,
engineered, developed, constructed and managed the operations of
Franco-Nevada's underground gold mine and mill located in Midas,
Nevada.
Mr. Sleeman has served as CEO for the past ten years and will
hand over responsibility for managing the Copper Flat project to
Mr. Douchane so that amongst other priorities he can concentrate on
finalizing the audit transition from GAAP to IFRS statutory
financial statements.
In connection with his appointment, the Company granted Mr.
Douchane 1,000,000 stock options pursuant to the Company's Share
Option Plan. The options are exercisable for five years at a price
of $0.80 per share. The grant is subject to regulatory
approval.
About the Copper Flat Project
Copper Flat is a former producing mine located approximately 20
miles southwest of Truth or Consequences in Sierra County, State of
New Mexico, USA. Permitting for a return of the project to
production is at an advanced stage, and a prefeasibility study is
in progress and targeted for completion during 2011.
The Copper Flat project is a porphyry
copper-molybdenum-gold-silver deposit. The deposit has NI43-101
Indicated Mineral Resources of 107 million short tons grading
0.303% copper and 0.01% molybdenum for 645 million lbs copper and
21.4 million lbs molybdenum, plus Inferred Mineral Resources of 46
million short tons grading 0.24% copper and 0.006% molybdenum for
222 million lbs copper and 5.6 million lbs molybdenum.
The gold and silver content of the deposit is evidenced by
historic production and metallurgical test work, and gold and
silver are targeted for incorporation into the deposit's NI43-101
Mineral Resource statement following completion and interpretation
of a re-assay program using historic drill sample pulps.
An NI43-101 Preliminary Economic Assessment ("PEA") dated June
30, 2010 and updated February 25, 2011 has been completed for
Copper Flat and can be viewed on SEDAR.
Civil infrastructure in place at Copper Flat includes a tailings
dam, largely pre-stripped open pit, power lines, water well field
and pipeline, access roads, diversion channels and building
foundations. The project land package comprises in excess of 1,200
hectares. For more information visit www.nmcopper.com.
About THEMAC Resources Group Limited
THEMAC is a copper development company with a strong management
team and as of May 18, 2011, a 100% ownership interest in the
Copper Flat copper-molybdenum-gold-silver project in New Mexico,
USA. We are committed to bringing the closed copper mine, Copper
Flat, in Sierra County, New Mexico back into production with
innovation and a sustainable approach to mining development and
production, local economic opportunities and the best reclamation
practices for our unique environment. The Company is listed on the
TSX Venture Exchange (ticker: MAC) and has issued share capital of
74,117,622 common shares (fully diluted share capital
134,523,241).
For more information please visit www.themacresourcesgroup.com
or review the Company's filings on SEDAR (www.sedar.com).
Neither the TSX Venture Exchange (the "TSXV") nor its Regulation
Services Provider (as that term is defined in the policies of the
TSXV) has reviewed, nor do they accept responsibility for the
adequacy or accuracy of, this release.
Contacts: THEMAC Resources Group Limited Kevin Maloney Chairman
+61 (0) 418 275 602 (604) 806-6112 (FAX)
www.themacresourcesgroup.com
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