Newmac Resources Inc. (TSX-V: NER) is pleased to announce that it has outlined a large and very strong induced polarization response on its 100% owned Chilanko Copper project located 170 kilometers west of Williams Lake, BC. A total of 37 line kilometres of “IP” survey were completed in January and February of this year and results have now been given to the company. The survey resulted in the discovery of a very strong induced polarization response over an area varying from 500 metres to 1,000 metres in width and extending for 3,500 metres along the long axis. Known mineralization at Chilanko Copper consists of several exposures of copper stained diorite rocks that have been exposed in a window occurring in the Miocene age basalts, which cover most of this area of the Chilcotin plateau (analogous to the Columbia River basalts covering the Columbia Basin in Washington State). The induced polarization response includes chargeability values often exceeding 30 millivolt per volt associated with a strong magnetic anomaly (approximately 10,000 gammas of magnetic relief). The response is interpreted to most likely be caused by a sulphide system associated with a buried intrusive, probably of Triassic or Jurassic age. Available records indicate that copper mineralization was first recognized here in 1973 by Pickands Mather and Company who completed some surface work but did not complete induced polarization and percussion drilled some mercury targets to the south before dropping the claims in 1974. The project area was again staked in the late 1980’s and again by the Kennecott Corporation in the late 1980’s but neither of these groups followed through with significant exploration programs and no induced polarization surveying or drilling was completed.
The Newmac claim group consists of eleven mineral claims covering 5,048 hectares (12, 450 acres). The physiography of this area of BC is that of a semiarid flat plateau covered by lodgepole pine and lesser open grassland used predominantly for “open range” cattle grazing.
Management of Newmac Resources Inc. believes that unexplored copper targets such as Chilanko Copper represent a tremendous opportunity in light of the current price for this commodity and the renewed interest in British Columbia by global mining corporations. The company will now obtain necessary permits to drill the anomaly.
Newmac Resources also reports that Eight diamond drill holes totaling 3,950 feet have been completed at the Bluff copper project located approximately 40 kilometres to the south of Chilanko Copper. Three of these holes were abandoned before reaching bedrock because of deep over burden. Analytical results for this drilling are expected in approximately six weeks.
J.W. (Bill) Morton P.Geo is the qualified person as defined by National Policy 43-101 who has reviewed the contents of this news release.
ON BEHALF OF THE BOARD
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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For Further Information Contact David Hjerpe, President at: (604) 461-7211