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
 
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Newmac Resources Inc.
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CODE : NER.V |
ISIN : CA6515223023 |
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Newmac Resources est une société d’exploration minière de molybdène et de tungsten basée au Canada. Newmac Resources détient divers projets d'exploration au Canada. Ses principaux projets en exploration sont NEWMAC PROJECT, CHILANKO PROPERTY et CRAZY FOX au Canada. Newmac Resources est cotée au Canada et en Allemagne. Sa capitalisation boursière aujourd'hui est 2,8 millions CA$ (2,2 millions US$, 2,0 millions €). La valeur de son action a atteint son plus bas niveau récent le 24 décembre 2008 à 0,02 CA$, et son plus haut niveau récent le 26 novembre 2010 à 4,00 CA$. Newmac Resources possède 9 716 042 actions en circulation. |