Newmac Resources Inc. (TSX-V: NER) has commenced a review of past drill logs on the Crazy Fox project for Gold potential. The Crazy Fox Molybdenum-Tungsten-Gold property is located about 100 km north of Kamloops, British Columbia on the eastern edge of the Cariboo Plateau about 20 km NW of Little Fort, British Columbia.
Twenty-seven drill holes in the upper plate of the Crazy Fox intrusion were incidentally assayed for gold while primarily assaying for molybdenum. The significance of gold in the mineralized system was not realized until recently reviewed by David Bridge, P. Geo a geologist working on the Project. Bridge reviewed the old drill logs and corresponding assays and noted that three drill holes have gold mineralization greater than 0.1 grams gold per tonne, the detection limit with the assay package used. The better of these holes, hole CF-06-19 intersected 299.8 meters averaging 0.508 g/tonne gold (from 5.2 meters to 305 meters). The second hole, CF-06-05, located approximately 600 meters to the southeast, intersected 2.0 meters assaying 0.50 g/tonne gold (from 71.4 to 73.4 meters). The third hole, CF-06-32, located approximately 100 meters to the west, intersected 0.8 meters assaying 0.50 g/tonne gold (from 63.1 to 63.9 meters). Assays from Diamond drill logs describe low angle fractures down the core in hole CF-06-19, which may explain why mineralization was encountered in this hole and not others in the vicinity (hole CF-06-19 is flanked by drill holes to the east and west which did not return gold determinations above the 0.100 g/tonne detection limit utilized in the analytical procedure. It is noted that additional pathfinder minerals including arsenic and bismuth are present in hole CF-06-19.
A summary of the significant results obtained in hole CF-06-19 is as follows:
|
Hole
CF-06-19 |
From |
To |
Meters |
Mo (%) |
W (%) |
Au (g/tonne) |
|
Intercept |
5.2 |
305.0 |
299.8 |
0.021 |
0.073 |
0.508 |
|
including |
50.0 |
68.0 |
18 |
0.015 |
0.126 |
1.100 |
|
including |
174.0 |
246.0 |
72 |
0.034 |
0.058 |
0.750 |
The company has not yet determined the full significance of this gold mineralization, as diamond drill holes in the vicinity of hole CF-06-19 did not encounter any gold mineralization greater than 0.1 g/tonne, which was the detection limit of the assay procedure used. As soon as weather permits further investigation into the gold potential of the upper and lower plate, and other areas of the Crazy Fox property will commence. Most drill pulps are available for re-assay but are currently inaccessible in storage at the project lodge facilities which are presently snowed in. Gold assays were never determined in diamond drill holes CF07-41 to CF-08-57, which were predominantly drilled in the lower plate of the Crazy Fox structure
David Hjerpe, CEO “Having found Gold mineralization that goes with the molybdenum mineralization was a great surprise to all of us at Newmac, this shows the great potential in the lower half of the intrusion where molybdenum mineralization was greater, and gold has never been assayed for.”
Assays were performed by ACME analytical Laboratories Ltd. of Vancouver, BC in 2006 using ICP-mass spectrometry methods.
Technical content of drill logs and the original drill program was conducted by W.A.Howell, P. Geo., a qualified person within the definitions of National Instrument 43-101.
The information presented in this press release has been reviewed and approved by David J. Bridge, P.Geo., qualified persons (as defined by National Instrument 43-101).
Respectfully submitted
ON BEHALF OF THE BOARD
“David Hjerpe”
David Hjerpe
CEO
Telephone (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. |
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