News Release
November 14, 2007
Newmac Drills over 500 Meters of a New
Molybdenum Mineralized Zone at Crazy Fox, BC
Newmac
Resources Inc. (TSX-V: NER) is pleased to announce that drilling in the south
western region of the Crazy Fox deposit, outlined by 38 drill holes completed
during 2006 and the spring of 2007, has penetrated the low angle fault which
previously indicated the lower limits of the deposit .
The new drilling
has intersected a long interval of molybdenum mineralized intrusive. Hole
CF07-41, the second hole of the current program initiated in early October of
this year, was designed by W. A. Howell, P.Geo and David J. Bridge, P.Geo to
test the hypothesis that the lower limits to mineralization was a thrust fault
and that a drill hole in the south western portion of the known deposit might
intersect the lower plate of the thrust within intrusive rock, and that
additional mineralized intrusive might occur beneath this fault and extend for
an unknown distance to the west and southwest.
Hole CF07-41
drilled westerly at -70??. The hole was commenced on October 27 and encountered
the thrust fault between 388.1 and 393.2 meters. In addition to increasing
molybdenum and tungsten mineralization approaching the thrust fault, the hole
penetrated mineralized intrusive immediately below the thrust. The
mineralization 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 also been noted. In
general the mineralization is greater in CF07-41 compared to previous holes
drilled on the Crazy Fox property.
Hole CF07-41 is
currently (November 13th) at a depth of 791.8 m in continuously mineralized
intrusive below the thrust fault. The company plans to continue (subject
to drilling conditions) to a depth of 1200 meters.
A number of
photographs of the mineralization encountered have been posted to the company's
website www.newmacresources.com
The Crazy Fox
molybdenum project is located 20 km northwest of the village of Little Fort BC.
Molybdenum as been reported and has been the subject of exploration on the
Crazy Fox property since 1928, but with renewed effort since the location of
high-grade boulders in 2005. One of these boulders, which are up to 50 kg, was
sampled in 2006 and returned an analysis of 7.26% Molybdenum and 1.524 grans
per tonne Rhenium, Highlighting the potential of the Crazy Fox Deposit.
To date all the known mineralization was found in a cut off portion of
the upper part of an intrusive body within and above the basal thrust
fault. The lower or main intrusive body was postulated, but never found
before drill hole CF07-41. To date work on the upper part of the
intrusive body has encountered mineralization from surface to depths of 300 m,
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 (28,000 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.
Technical content
of this news has been reviewed by W. A. Howell, PGeo, a qualified person within
the definitions of National Instrument 43-101.
Respectfully
submitted
ON BEHALF OF THE
BOARD
??David Hjerpe??
David Hjerpe
President
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.
For Further Information Contact David
Hjerpe, President at: (604) 461-7211