Newmac Resources Inc. (TSX-V: NER; Frankfurt: N3M) has received more encouraging results from three more holes on its recently completed diamond drilling program on the Crazy Fox Molybdenum project, located 20 kilometers north-northwest of the village of Little Fort, B.C.
Selected Intervals from diamond drill hole 06-19, drilled at –60 degrees to the south, are presented below:
Hole |
From
(m) |
To
(m) |
Width (m) |
Width
(ft) |
W
(%) |
WO3
(%) |
Mo
(%) |
MoS2
(%) |
06-19 |
5.2 |
358.2 |
353.0 |
1,157.5 |
0.071 |
0.089 |
0.020 |
0.033 |
Including |
5.2 |
329.0 |
323.8 |
1,062.1 |
0.076 |
0.096 |
0.021 |
0.035 |
Including |
5.2 |
68.0 |
62.8 |
206.0 |
0.200 |
0.250 |
0.013 |
0.022 |
Including |
27.2 |
65.0 |
39.9 |
131.0 |
0.289 |
0.365 |
0.016 |
0.025 |
Including |
25.1 |
27.2 |
2.1 |
6.9 |
3.910 |
4.920 |
0.048 |
0.080 |
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 per metric tonne. 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 Tungsten is valued at around US$26.00 per Kg. For example rock grading 0.200 % W, would contain 2 kg of Tungsten. Molybdenum is currently trading at a price of around US$ 55 per Kg.
Molybdenum mineralization is present throughout the entire core length of 358.2 m. The molybdenum is commonly smeared very thinly on small fractures and more heavily occasionally on fractures and shears.
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 06-19 which is located on the central-eastern flank of the Crazy Fox mineralized complex. 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). Holes 06-19 and 06-10 are located 263 m apart, at their collars and are separated 320 m at the bottom of the holes, therefore future drilling will need to be targeted in this area as there is a large amount of prospective ground in this area.
Hole 06-12 was drilled north at –60 degrees in an attempt to encounter the southern flank area of the intrusion, 565 m from hole 06-19. It encountered highly anomalous molybdenum and tungsten assays.
Hole 06-13 was drilled to the east at – 60 degrees in the area of historic surface molybdenum showings. The diamond drill hole encounter a 3 m section of comb quartz from a depth of 50 m that graded 0.0275% Mo.
Molybdenum is widespread on the property and its grade is controlled to a large extent by the degree of fracturing present. Exploration to date has focused in locating those zones, which are likely to produce optimum mineralization with optimum fracturing. Results will be published as they are received.
Assays were performed by Acme Analytical Laboratories Ltd. of Vancouver, B.C., by ICP-mass spectrometry.
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 |