Newmac Resources Inc. (TSX-V: NER) is pleased to update shareholders on the Crazy Fox project.
A geochemical survey has been completed on an area approximately 750 m southwest of last year’s drilling on the Crazy Fox property. The area is characterized by anomalous molybdenum and tungsten soil geochemistry with abundant local granitic float. Interpretation and computer modeling by geophysicists from SJV geophysics Inc. of magnetic data collected during the 2008 field season has suggested intrusive rocks may be block faulted near surface in this area. Examination and interpretation by company geologists has shown the anomalous soil geochemistry to coincide with 2 intersecting linear features believed to represent faulting.
A diamond drill program is proposed to test the area. Newmac plans to drill test this area in October 2009.
The Crazy Fox property is located about 100 km north of Kamloops BC. The discovery of high-grade molybdenum in late 2007 led to an extensive drilling program in 2008. To Date, approximately 14,000 meters (46,000 feet) of drilling has been completed at Crazy Fox.
Selected drill results include
|
|
Hole |
From |
To |
Interval |
Interval |
MoS2 |
Mo |
W |
|
CF07-41 |
(m) |
(m) |
(m) |
(ft) |
(%) |
(%) |
(%) |
|
|
Intercept |
400.7 |
830.7 |
430 |
1410 |
0.17 |
0.1 |
0.01 |
|
Including |
646.7 |
796.7 |
150 |
492 |
0.29 |
0.18 |
0.01 |
|
Including |
708.7 |
756.7 |
48 |
157 |
0.48 |
0.29 |
0.01 |
|
Including |
708.7 |
722.7 |
14 |
46 |
0.96 |
0.58 |
0.01 |
|
|
|
Hole |
From |
To |
Interval |
Interval |
MoS2 |
Mo |
W |
|
CF08-47 |
(m) |
(m) |
(m) |
(ft) |
(%) |
(%) |
(%) |
|
|
Intercept |
467 |
791 |
324 |
1063 |
0.21 |
0.13 |
0.02 |
|
Including |
523 |
713 |
190 |
623 |
0.29 |
0.18 |
0.02 |
|
Including |
547 |
619 |
72 |
236 |
0.41 |
0.25 |
0.02 |
|
Including |
565 |
619 |
54 |
177 |
0.48 |
0.29 |
0.03 |
|
Including |
565 |
597 |
32 |
105 |
0.58 |
0.35 |
0.03 |
|
Management believes that Crazy Fox is a significant molybdenum-tungsten discovery and that further drilling to the south can extent the already significant 800 m of strike length. Geophysical and geochemical targets to the south east of the main Crazy Fox discovery indicate the possibility of finding additional mineralization closer to surface and at depth.
The Company is very pleased with the work it conducted in 2008 defining an area of high grade molybdenum mineralization at depth over a strike length of 800 m (please see News release September 23, 2008), The company will continue to explore the Crazy Fox property`s near surface potential with prospecting and soil sampling.
Newmac would also like to announce that it has staked the MolyBar mineral property which covers a N30W structure which has a high molybdenum stream sediment anomaly draining it. There is anomalous fluorine in the vicinity of the molybdenum anomaly. The claims also cover the northwestern portion of a large magnetic low. Newmac will continue to gather information on this property and plan an initial program. The MolyBar property is located 17 km west of Barrier, British Columbia, and cover an area of 606.9 ha.
Technical content of this news has been reviewed by David Bridge, PGeo, a qualified person within the definitions of National Instrument 43-101.
Respectfully submitted
ON BEHALF OF THE BOARD
“David Schmidt”
David Schmidt
President & CFO
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.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release
For Further Information Contact David Schmidt, President at: (604) 688-3113 |
Home
|
Company
|
Projects
|
Photos
|
News
|
Investors
|
Contact