Newmac Resources Inc. (TSX-V: NER) is updating shareholders on the Crazy Fox project, located about 100 km north of Kamloops BC.
A diamond drill program has commenced on the Crazy Fox project. A minimum of two diamond drill holes will be drilled on geochemical and magnetic anomalies in 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.
The Company is also evaluating and exploring an area 2.5 km north of last year’s drilling on the Crazy Fox property where historic gold mineralization grab samples assayed 10, 21, 21.5 and 27 grams/tonne gold. This mineralization has been drilled by one short historic diamond drill hole, which intersected from 13.4 m to 15.2m 5 grams/tonne gold. Two additional drill holes have been drilled in the surrounding area with all holes intersecting arsenopyrite mineralization.
The gold mineralization correlates with a linear magnetic anomaly which strikes approximately 650 meters, but the true extent is not known. The mineralization is hosted by argillite rocks which have been brecciated and also veined by quartz – arsenopyrite veins. Massive sulphide lenses of pyrrhotite-pyrite – arsenopyrite with minor chalcopyrite have also been reported to occur. The outside dimensions of the mineralization are not known but Newmac Resources Inc. has recently completed a soil survey with rock sampling of the mineralization to determine its extent and its potential, results from this survey will be released once they have been received.
The Company has been selected to participate in the British Columbia Ministry of Energy, Mines and Petroleum Resources 2009 Asian Pacific Trade Mission.
A total of seven companies were selected by the British Columbia Ministry of Energy, Mines and Petroleum to participate in the 2009 Asian Pacific Trade Mission. Newmac will be presenting at several events in China, Korea, and Japan. The company will also have a booth at the China Mining Expo inside a larger British Columbia booth.
The China Mining Expo is one of the world's top four mining expos. China Mining provides an excellent channel and platform for mining companies to communicate and exchange new ideas on development, investment policies, mining rights trading, exploration, technology and equipment, mining evaluation and consultancy, and sustainable development aspect. Last year, CHINA MINING Expo attracted over 300 exhibitors, 10,000 professional visitors and 3,000 conference delegates from 45 countries.
Technical content of this news has been reviewed by David Bridge, PGeo, a qualified person within the definitions of National Instrument 43-101.
ON BEHALF OF THE BOARD
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