News Release
July 8, 2008, 2008
Symbol: TSX-V: NER
Newmac Drills 212 Metres of 0.08% M0S2 at Crazy Fox ? Drilling Continues
Vancouver, BC ? July 8, 2008 -- Newmac Resources
Inc. (TSX-V:
NER)
is pleased to announce that drilling continues
on the Crazy Fox Molybdenum Project, favorably 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.
-------------------------------------------------------------------------------------------------
Hole From To Interval Interval MoS2 Mo W
CF08-52 (m) (m) (m) (ft) (%) (%) (%)
------------------------------------------------------------------------------------------------
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
-----------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------
Hole From To Interval Interval MoS2 Mo W
CF08-55 (m) (m) (m) (ft) (%) (%) (%)
-----------------------------------------------------------------------------------------------
Intercept 758 946 188 617 0.12 0.07 0.01
Including 872 924 52 171 0.17 0.10 0.005
-----------------------------------------------------------------------------------------------
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:
--------------------------------------------------------------------------------------------------
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, and CF07-41 curved to the
north, therefore the two mineralized intersections are between 90 m to 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
-------------------------------------------------------------------------------------------------
The table in
the May 28, 2008 news release incorrectly stated the tungsten values in hole
CF08-54. The values should read as follows.
-------------------------------------------------------------------------------------------------
Hole From To Interval Interval MoS2 Mo W
CF08-54 (m) (m) (m) (ft) (%) (%) (%)
-------------------------------------------------------------------------------------------------
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
-----------------------------------------------------------------------------------------------
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.
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.
THE TSX VENTURE EXCHANGE DOES NOT TAKE RESPONSIBILITY FOR THE ADEQUACY
OR ACCURACY OF THIS RELEASE.