Subject: Newmac Discove
Newmac Resources Inc.
2605 Jane Street,
Port
Moody, BC
Canada V3h 2k6
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News Release
Newmac Discovers Red Bed
Mineralization at Chilanko
October 29, 2007
Newmac Resources Inc. (TSX-V: NER) has
completed a diamond drilling program on the Chilanko property located 170
kilometres west of the city of Williams Lake, B.C. A drill is now being
moved to the company's Crazy Fox tungsten-molybdenum project, which is located
20 kilometres north-northwest of the village
of Little Fort in Southern British
Columbia, near Kamloops.
On the Chilanko
property a number of strong induced polarization targets where tested by 8
diamond drill holes. These targets were found by the completion of 37 line
kilometres of IP survey in 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. Two of the holes completed in this program have intersected
mineralization over a length of 200 m that is being described as consistent
with that of a red bed copper style of mineralization. Native Copper,
Chalcocite, and Bornite have all been identified in these two diamond drill
holes. Assay results for these two holes will be available by around the
end of November. These initial visual results have led to the Company
staking additional claims to the east, which now brings the size of the
property to 62,850 acres (25,435 hectares) or 254 square Km. The company is
very encouraged about these early developments, as the property is relatively
unexplored. These new-staked claims follow the controlling fault
structure for 25 km.
A
volcanogenic-sedimentary red bed can be described as occurring where the
overlying clastic sediments are “oxidized” and have caused copper
sulphides to precipitate from fluids which have been derived from an adjacent
“reduced” sequence. The most common ore horizons are fragmentary
and porous amygdular layers, flow- top breccias, and faults in the basalts and
overlying carbonates containing deposits formed in the Proterozoic, Triassic,
Jurassic or Tertiary ages along a continental rift. Copper distribution is
regulated by the host rock permeability. Copper sulphide minerals --
including chalcocite, digenite, djurleite, covellite, bornite and
chalcopyritecan be disseminated through the host rock, or can fill vesicles in
volcanic rocks.
The drill program on the Crazy Fox property will consist of
12 diamond drill holes (2,000 metres) targeting molybdenum and tungsten
mineralization. These holes will explore potential new areas and also expand
areas of know mineralization. To date mineralization from surface to depths of
300 m have been encountered over an area of 450m x 750m . This
mineralized area to date has been tested by a total of 38 diamond drill holes
totalling approximately 8,000m (28000 ft) . within these limits
there is potential for a deposit size in the order of 275,000,000 tonnes
to 300,000,000 tonnes. Limits of the mineralization have not been
reached and the deposit is considered 'open' to the North, West and
South. As the limits of mineralization are probed and better understood,
this potential may increase substantially. This potential quantity and grade
are conceptual in nature because there has been insufficient exploration to
define a mineral resource, it is uncertain if further exploration will result
in the discovery of a mineral resource.
The first diamond drill hole in this
program will be a deepening of hole 07-34, which was collard to test data
suggesting proximity to mineralization underlying the thrust, the
mineralization in this hole is getting better to depth and the drill hole will
need to be deepened with a different drill. This hole demonstrates the
extent and potential for more mineralization to the southwest and shows that
mineralization is strong in this area and that our modelling of the lower
thrust sheet is consistent so far with what we see in the upper thrust
sheet..
Technical content of this news has
been reviewed by David
J. Bridge,
P. Geo, a qualified person within the definitions of National Instrument
43-101.
Respectfully submitted
ON BEHALF OF THE BOARD
“David Hjerpe”
David Hjerpe
President
For Further Information Contact
David Hjerpe, President at: (604) 461-7211
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.
Dale Paruk
Coal Harbor Communications, Inc.
Suite 701, 555 Jervis Street
Vancouver BC
V6E 4N1
Tel: 604-662-4505
Fax: 604-662-4547
dale@coal-harbor.com