News Release
September 23, 2008
Symbol: TSX-V: NER
Newmac Drills 78 m (256 ft) of 0.10% MoS2
Mineralization now extends over 800 M
Newmac Resources Inc. (TSX-V: NER) is pleased to announce that assays have now been received from CF08-57 on the Crazy Fox Molybdenum Project, favorably located 100 km North of Kamloops, British Columbia.
A summary of results from hole CF08-57 is as follows:
|
Hole |
From |
To |
Interval |
Interval |
MoS2 |
Mo |
W |
|
CF08-57 |
(m) |
(m) |
(m) |
(ft) |
(%) |
(%) |
(%) |
|
Intercept |
702.8 |
1008.7 |
305.9 |
1,003 |
0.07 |
0.04 |
0.001 |
|
Including |
878.3 |
956.3 |
78.0 |
256 |
0.10 |
0.06 |
0 |
|
Including |
878.3 |
908.3 |
30.0 |
98 |
0.13 |
0.08 |
0 |
|
Including |
878.3 |
894.3 |
16.0 |
53 |
0.18 |
0.11 |
0 |
CF08-57 was collared 650 m south of hole CF07-41 and drilled on 245 degrees azimuth at ?75 degrees. The hole curved northwards with depth. Hole CF 08-57 intersected several high grade intercepts with four 2 m samples grading over 0.2 %Mo. The Company is very encouraged by these results, in particular, because the hole was mineralized to the end, with the last sample grading 0.08% Mo at a depth of 1008.7 m (3309.4 ft). Drilling conditions and equipment limitations forced the end of the hole.
The discovery of high grade mineralization in hole CF 08-57, extends known higher grade mineralization approximately 800 m along strike from mineralization discovered in CF 07-41, the deep discovery hole.
A detailed geophysical (magnetometer) survey has now been completed, it is hoped that it will help to determine areas of additional mineralization, and provide some insight to the limits of the intrusive rocks. The magnetic data is currently being processed and will be compiled with the data from the drill program, which is now completed.
The current drill program, since hole CF 07-34, has completed approximately 13,331 m of NQ and HQ drilling (approx. 43,720 ft). The program has discovered, and begun exploration of the hitherto unknown offset mineral zone below the historical area of exploration on the Crazy Fox Property.
Significant Molybdenum mineralization has been encountered within the ?new? offset zone over a strike length of approximately 800 m and has encountered intercepts of 50 m to 420 m of greater than, or near to, 0.1% MoS2. The mineralization has been encountered at depths of 300 m to over 1000m below surface. Current indications and developing geological models suggest that the mineralization could extend from the currently developed 800 m strike length indicated by the limits of drilling to date.
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 1021m (3349 feet). Summary results for the hole are as follows:
|
Hole |
From |
To |
Interval |
Interval |
MoS2 |
Mo |
W |
|
CF07-41 |
(m) |
(m) |
(m) |
(ft) |
(%) |
(%) |
(%) |
|
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 |
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, CF07-41 curved to the north, the two mineralized intersections are between 90 m and 150 m apart (Reported previously).
|
Hole |
From |
To |
Interval |
Interval |
MoS2 |
Mo |
W |
|
CF08-47 |
(m) |
(m) |
(m) |
(ft) |
(%) |
(%) |
(%) |
|
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 |
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.
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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