Newmac Resources Inc. (TSX-V: NER; Frankfurt: N3M) has received more encouraging results from five more holes on its recently completed diamond drilling program on the Crazy Fox Tungsten-Molybdenum project, which is ideally located 20 kilometers north-northwest of the village of Little Fort in Southern British Columbia, near Kamloops.
To Date, Significant tungsten and molybdenum values have been encountered in widely spaced drill holes over several hundred meters north-south and east-west. The drill intersections have also been up to 200 to 300m in length. The physical bounds of the intrusive body have not been determined with any degree of accuracy and the deposit remains open to the north, south and west. It is more constrained to the east but much ground remains untested. To depth the mineralization appears constrained by faulting below 300 m (1000ft). With the dimensions and grades exhibited to date, the prospect of a large open pit or bulk mineable deposit is plausible and the company has developed an exploration model that incorporates this concept.
Selected Intervals from diamond drill hole 06-25, 06-27, 06-28, 06-30, and 06-12, are presented below:
Hole |
From
(m) |
To
(m) |
Width (m) |
Width
(ft) |
W
(%) |
MTU WO3 / tonne |
Mo
(%) |
MoS2
(%) |
06-25 |
6.9 |
269.7 |
262.8 |
862.0 |
0.041 |
.051 |
0.013 |
.022 |
Including |
154.9 |
243.2 |
88.3 |
289.6 |
0.077 |
.097 |
0.024 |
.040 |
06-27 |
7.6 |
279.1 |
271.5 |
890.5 |
0.044 |
.055 |
0.014 |
.023 |
Including |
175.4 |
275.2 |
99.8 |
327.3 |
0.059 |
.074 |
0.006 |
.010 |
06-28 |
3.0 |
241.8 |
238.8 |
783.3 |
0.022 |
.027 |
0.007 |
.012 |
06-30 |
14.2 |
267.3 |
253.1 |
830.1 |
0.039 |
.049 |
0.018 |
.030 |
06-12 |
154.6 |
160.6 |
6.0 |
19.6 |
0.085 |
.107 |
0.008 |
.130 |
Tungsten prices have surged in the past two years from US$60 to the current level of US$260 per MTU of APT. A Metric Tonne Unit ("MTU") is equal to ten kilograms of unit per metric tonne. (1%) Tungsten prices are generally quoted as US dollars per MTU of Ammonium Paratungstate ("APT") an intermediate product in the production of tungsten metal for which price quotes are generally available. One metric tonne = 1000 Kg, therefore TUNGSTATE, (WO3), is valued at around US$26.00 per Kg. For example, rock grading 0.200 % W, would contain 2.52 kg of Tungstate(WO3). Molybdenum is currently trading at a price of around US$ 55 per Kg. of Mo but is often grade quoted as per cent MoS2.
Tungsten is typically zoned around or flanking the upper portions of "Climax Mo/W type deposits", which is consistent with the location of diamond drill hole 06-27 and 06-25 which is located on the central-eastern flank of the Crazy Fox mineralized complex. Both of these holes were drilled from the same setup as 06-19, (Reported previously which encountered 353.0 m of 0.071% W [0.089% WO3 or, 0.089 MTU/tonne] and 0.02% Mo [0.033% MoS2 ]). Hole 06-25 was drilled vertically from this location, and 06-27 was drilled to the North at –60 degrees from the same setup The only other diamond drill hole in the eastern flank area to receive assays so far is 06-10 (News Release May 17, 2006) which encountered 159.0 m (521.5 ft.) of 0.038 % W) (0.048 % WO3. Diamond drill hole 06-30 was drilled at –60 degrees to the north from a setup located 280 m to the south of these three holes. All of these drill holes in the central-eastern flank have encountered significant tungsten mineralization, therefore future drilling will need to be targeted in this area, as there is a large amount of prospective ground that remains untested.
Hole 06-12 was drilled north at –60 degrees in an attempt to encounter the southern flank area of the intrusion, The collar of hole 12 is 565 m SSW from the collars of hole 06-19, 25 and 27.It is also about 385m SSW of the collar of hole 30. Hole 12 encountered highly anomalous molybdenum and tungsten assays.
Assays were performed by Acme Analytical Laboratories Ltd. of Vancouver, B.C., using ICP-mass spectrometry methods.
Technical content of this news has been reviewed by W.A. Howell, 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
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 |