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NER Newmac Resources Inc

0.285
0.00 (0.00%)
26 Jul 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Newmac Resources Inc TSXV:NER TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.285 0.06 0.005 0 01:00:00

Newmac Resources Inc.: Partial Assays Received 98 Metres Grading 0.33% Mos2 Intersected

07/01/2008 2:52pm

Marketwired Canada


Newmac Resources Inc. (TSX VENTURE:NER)(FRANKFURT:N3M) is pleased to announce
partial assays from diamond drill hole CF07-41, drilled on the southwestern
region of the Crazy Fox property located in south-central British Columbia one
hundred kilometers north of the City of Kamloops.


Hole CF07-41 penetrated a low angle (thrust) fault at approximately 390 m (1280
feet) which previously, and further to the north, had formed the lower limit to
molybdenum-tungsten mineralization. Below this fault CF07-41 encountered
mineralized intrusive rocks to the bottom of the hole at a depth of 1021m (3349
feet). Results of the partial analysis now received are as follows:




-----------------------------------------------------------------
Hole            From       To     Width     MoS2      Mo        W
07-41             (m)      (m)       (m)      (%)     (%)      (%)
-----------------------------------------------------------------
Intercept      494.7    748.7     254.0     0.22    0.13    0.010
-----------------------------------------------------------------
Including      546.7    748.7     202.0     0.26    0.16    0.011
-----------------------------------------------------------------
Including      650.7    748.7      98.0     0.33    0.20    0.011
-----------------------------------------------------------------
Including      668.7    740.7      72.0     0.37    0.23    0.011
-----------------------------------------------------------------
Including      682.7    722.7      40.0     0.47    0.28    0.011
-----------------------------------------------------------------
Including      708.7    722.7      14.0     0.96    0.58    0.005
-----------------------------------------------------------------



Hole CF 07-41 was designed 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 mineralized body would intersect mineralized intrusive rock
in the lower plate of the thrust extending the prospective area of
molybdenum-tungsten mineralization for an unknown distance to the west, south
and to depth.


Hole CF 07-41 was drilled westerly at -70 degrees. The hole was commenced on
October 27 and encountered the thrust fault between 388.1 and 393.2 meters and
was completed on November 25. 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 also been noted.


Please note the hole ended in mineralization at a depth of 1,021 m and that the
results reported in this release are partial and will be recalculated upon
receipt of the remaining analysis.


Two additional holes were attempted in December, CF 07-42 was collared east of
CF 07-41 and was drilled westerly at -60 degrees on section with Hole CF 07-41,
this hole was lost due to ground caving at 257.9 m, before reaching the thrust
fault and the prospective lower plate to the fault. CF 07-43 was subsequently
collared east of CF 07-41 and was also drilled westerly at -60 degrees. Hole CF
07-43 flattened substantially to an angle of approximately -43 degrees
eventually piercing the thrust fault at a depth of 510.4 (approximately 120 m
south west of where CF04-41 pierced the fault). CF04-43 encountered 29.6 m of
molybdenum mineralization similar to CF04-41 before the hole was again lost due
to ground caving.


Assays were performed by Acme Analytical Laboratories Ltd. of Vancouver, B.C., a
certified facility, using ICP-mass spectrometry methods (results have not yet
been received for 537 metres of hole CF07-41; from 189 to 454 m and from 749 to
1021 m).


Newmac is preparing for an aggressive drill program, which will commence in
January 2008. More details will be released as they become available.


A number of photographs of the mineralization encountered have been posted to
the company's website: www.newmacresources.com.


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 Schmidt, Director

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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