Newmac Resources Inc.

Published : September 14th, 2007

Begins Six-hole Drill Program At Chilanko

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Keywords :   Canada | Coal | Copper | Diamond | K Street | Newmac |
 
 

Newmac begins six-hole drill program at Chilanko

Newmac Resources Inc (C:NER)
Shares Issued 15,887,965
Last Close 9/12/2007 $0.29
Thursday September 13 2007 - News Release

Mr. David Schmidt reports

DRILLING COMMENCES ON STRONG INDUCED POLARIZATION TARGETS AT CHILANKO

Newmac Resources Inc. has commenced a six-hole Diamond drill program on its 100-per-cent-owned Chilanko copper project located 170 kilometres west of Williams Lake, B.C.

These Diamond drill holes have been designed to test the large and very strong induced polarization (IP) response targets that are untested. These targets were found by the completion of 37 line kilometres of IP survey in January and February of this year. The survey resulted in the discovery of a very strong induced polarization response over an area varying from 500 metres to 1,000 metres in width and extending for 3,500 metres along the long axis. Known mineralization at Chilanko consists of several exposures of copper-stained diorite rocks that have been exposed in a window occurring in the Miocene-age basalts, which cover most of this area of the Chilcotin plateau. The induced polarization response includes chargeability values often exceeding 30 millivolts per volt (mv/V) associated with a strong magnetic anomaly (approximately 10,000 gammas of magnetic relief). The response is interpreted to most likely be caused by a sulphide system associated with a buried intrusive, probably of Triassic or Jurassic age. Available records indicate that copper mineralization was first recognized here in 1973 by Pickands Mather and Co.; the company completed some surface work but did not complete induced polarization, and also percussion drilled some mercury targets to the south before dropping the claims in 1974. The project area was again staked in the late 1980s, and again by the Kennecott Corp. also in the late 1980s, but neither of these groups followed through with significant exploration programs and no induced polarization surveying or drilling was completed.

A series of trenches were completed on the Chilanko property following the geophysical survey. These trenches encountered deeper overburden than expected and were unable to reach bedrock over several of the geophysical anomalies that will be targeted with this drill program. Bedrock was encountered by other trenches in areas peripheral to the anomalies, and exhibited hydrothermal alteration and effects consistent with the outer zones of porphyry copper systems.

The Newmac claim group consists of 11 mineral claims covering 5,048 hectares (12,450 acres). The physiography of this area of British Columbia is that of a semi-arid flat plateau covered by lodgepole pine and open grassland, used predominantly for open-range cattle grazing.

The management of Newmac Resources believes that unexplored copper targets such as Chilanko represent a tremendous opportunity in light of the current price for this commodity and the renewed interest in British Columbia by global mining corporations.

J.W. (Bill) Morton, PGeo, is the qualified person as defined by National Policy 43-101 who has reviewed the contents of this news release.

? 2007 Canjex Publishing Ltd.

Dale Paruk
Coal Harbor Communications Inc.
Suite 701, 555 Jervis Street
Vancouver BC
Canada V6E 4N1
 
Tel: 604-662-4505
Fax: 604-662-4547
 
 
Data and Statistics for these countries : Canada | All
Gold and Silver Prices for these countries : Canada | All

Newmac Resources Inc.

CODE : NER.V
ISIN : CA6515223023
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Newmac Resources is a molybdenum and tungsten exploration company based in Canada.

Newmac Resources holds various exploration projects in Canada.

Its main exploration properties are NEWMAC PROJECT, CHILANKO PROPERTY and CRAZY FOX in Canada.

Newmac Resources is listed in Canada and in Germany. Its market capitalisation is CA$ 2.8 millions as of today (US$ 2.2 millions, € 2.0 millions).

Its stock quote reached its lowest recent point on December 24, 2008 at CA$ 0.02, and its highest recent level on November 26, 2010 at CA$ 4.00.

Newmac Resources has 9 716 042 shares outstanding.

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Annual reports of Newmac Resources Inc.
Annual Report 2007
Financings of Newmac Resources Inc.
9/2/2009Arranges $600,000 Private Placement
6/8/2007Arranges $700,000 Private Placement
Nominations of Newmac Resources Inc.
3/31/2008 Appoints Schmidt to President, CFO at Annual General Meetin...
Project news of Newmac Resources Inc.
11/17/2009(Crazy Fox)Crazy Fox And Moira Update
10/19/2009(Crazy Fox)starts diamond drilling at Crazy Fox, BC
9/1/2009(Crazy Fox)completes geochemical survey at Crazy Fox
9/23/2008(Crazy Fox)Drills 78 m (256 ft) of 0.10% MoS2, Mineralization now exten...
4/24/2008(Crazy Fox) High Grade Molybdenum Mineralization now Extends over 250m
3/31/2008(Crazy Fox)Drills 72 Meters of 0.41% Molybdenite, Drilling Continues wi...
1/28/2008(Crazy Fox)Drilling Commences With Two Diamond Drills First Round 2008 ...
1/28/2008(Raft Molybdenum)Raft Molybdenum Property; Optioned Chilanko Results Received
1/10/2008(Fox Molybdenum)Receives Additional Assays - Increases Intersection to 150 M...
1/7/2008(Fox Molybdenum)Reports Partial Assays of 98 Metres Grading 0.33% MoS??2??
11/14/2007(Fox Molybdenum) Drills over 500 Meters of a New Molybdenum Mineralized Zone...
10/30/2007(Chilanko Property) Discovers Red Bed Mineralization at Chilanko
9/14/2007(Chilanko Property)Begins Six-hole Drill Program At Chilanko
Corporate news of Newmac Resources Inc.
2/23/2015Resignation Of Director
2/23/2015IIROC Trading Halt - NER
2/12/2015Current Quote:
2/11/2015Current Quote:
1/13/2015Current Quote:
1/12/2015Current Quote:
8/3/2010to sample and survey Ready Mix property, Clearwater BC
6/15/2010options Ready Mix, buys property near Raft
11/4/2008to Participate in BC Asian Pacific Trade Mission
7/9/2008Drills 212 Metres of 0.08% M0S2 at Crazy Fox - Drilling Cont...
5/28/2008Drills 374 Metres of 0.12% M0S2 at Crazy Fox - Drilling Cont...
4/29/2008Acquires Work Camp: Drilling Continues with Two Diamond Dril...
3/25/2008Closes Financing with Sprott Molybdenum
12/5/2007Arranges $1-Million Financing
11/29/2007Options Moira Molybdenum Property near Clearwater, BC
11/28/2007Negotiates $2.5 Million Financing
8/2/2007Tungsten And Molybdenum Mineralized Area Increases At Crazy ...
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