Newmac to sample and survey Ready Mix property, Clearwater BC
July 30, 2010
Newmac Resources Inc. (TSX-V: NER) has started prospecting, soil sampling, ground magnetometer and very low frequency-electromagnetic (VLF-EM) surveys on the company's Ready Mix property located approximately 35 kilometres northeast of Clearwater, B.C.
A 2.2-square-kilometre area will be sampled by 943 soil samples and 46 line km within this area will be read with magnetometer and VLF-EM instruments. The Ready Mix property is at the headwaters of Martin Creek which returned a stream sediment sample of 87 parts per billion (ppb) gold. Prospecting in an area above Martin Creek in 1999 uncovered a highly oxidized boulder of intrusive breccias that assayed 29.3 grams per tonne gold and 202 grams per tonne silver.
The company views the Ready Mix project as an excellent target for intrusion-related gold mineralization because of several tungsten skarns in the area, anomalous gold, tungsten, molybdenum and arsenic in stream sediments, and the Shuswap metamorphic terrain intruded by Cretaceous granites.
The company has the right to earn a 100-per-cent interest in the Ready Mix claims by making an initial payment of $5,000 and issuing 150,000 common shares. Within two years the company will need to pay an additional $25,000 and issue 500,000 common shares, in two stages. The property will also be subject to a 2-per-cent net smelter royalty, where the full 2 per cent may be purchased by the company for $1-million at any time.
Technical content of this news has been reviewed by David J. Bridge, PGeo, a qualified person within the definitions of National Instrument 43-101.
For further information please contact:
Dale Paruk Coal Harbor Communications Telephone: (604) 662-4505 Toll Free: 1-877-345-3399 Email: info@coal-harbor.com |