News Release
March 31, 2008
Newmac Drills 72 Meters of 0.41%
Molybdenite, Drilling Continues with 2 Diamond Drills
Newmac Resources Inc. (TSX-V: NER,
Frankfurt: N3M) is pleased to announce that drilling
continues with two diamond drills on the Crazy Fox Molybdenum Project, which is
favorably located 100 km North of Kamloops, British Columbia.
Assays have been received for holes CF08-44, CF08-47, and
CF08-48. The company is particularly encouraged by hole CF08-47, which
collared 350 m east of hole CF07-41 and drilled to the east at –80
degrees. Hole CF08-47 curved to the south as it was drilled, and CF08-41
curved to the north, therefore the two mineralized intersections are between 90
m to 150 m apart.
|
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 mineralization encountered can be described as both disseminated
and stockwork in style, with 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.
Holes CF08-44 and CF08-48, as part of a process of drilling
several holes in different orientations to determine the geometry of the high
grade discovery intercept obtained in hole CF07-41, both encountered molybdenum
and tungsten mineralization, but to a lesser degree than encountered in CF07-41
and CF 08-47.
CF08-44 was collared 129 m east of CF07-41 and is believed
to have passed over the top of the high grade mineralization zone. The hole encountered several small
intersections of molybdenum mineralization up to 0.17% MoS2. The hole was
also consistently mineralized at a lower grade of 0.07% MoS2 over 144
meters from 513 m to 657 m.
CF08-48 was drilled at –80 degrees at an azimuth of
312 degrees from a collar located 217 m azimuth 292 degrees from the collar of
CF07-41. This hole also drilled
above the known high grade mineralization, and exited the lower half of the
intrusion at 484 m. Only low grade molybdenum was encountered, which graded
0.07% MoS2 over 44 meters from 399 m to 443 m. Low grade assays have also
been received from hole CF07-43 from immediately below the thrust fault, where
the hole was lost after piercing the fault.
Drill holes CF08-45 and CF08-46 were lost before reaching
the thrust fault.
The company is currently drilling with two diamond drills
with the goal of adding to the northern and southern strike length of known
mineralization.
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
|
Hole CF 07-41 intersected mineralized intrusive rock in the
lower plate of a thrust fault extending the prospective area of
molybdenum-tungsten mineralization for an unknown distance to the north, west, south
and to depth.
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”
David Schmidt
President
Telephone (604) 688-3113
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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THE ADEQUACY OR ACCURACY OF THIS RELEASE.