In September 2005 Newmac Resources Inc. (TSX-V: NER) was offered an option on the Crazy Fox prospect which, although owned privately for several years, assumed new significance in 2005 following the discovery of high-grade molybdenum mineralization exposed by logging operations. The Crazy Fox property had been previously explored as a molybdenum prospect as early as the First World War and again in the 1970’s when several major mining companies including Falconbridge Nickel Mines Ltd. had explored the then known molybdenum showings which they called the Anticlimax Showings - no doubt in reference to the world class molybdenum deposits located at Climax Colorado.
In 2004 and 2005 the area of the Anticlimax Showings, which occurs in a glacial till covered mature forest setting, was the site of logging operations undertaken by Tolko Industries Ltd. This activity exposed new high-grade molybdenum mineralization in several areas that the company believes was unknown to previous operators. The first sample collected by the company in September returned an assay of 2.81% molybdenum.
In early October the company established a soil grid over the area of the new showings on a grid generally spaced at 100 metre intervals with samples collected on 25 metre increments along the lines. A total of 334 soil samples were collected. Many of these samples returned strongly anomalous soil molybdenum values with fourteen samples exceeding 50 parts per million and one sample returning a value of 311 part per million molybdenum. Fifteen rock and rubble samples were also collected with four of them exceeding 0.85% molybdenum. The gross insitu value of this material is considerable with molybdenum currently quoted at close to US$30 per pound.
In late October the company was issued a permit to complete an excavator-trenching program which was initiated on November 17 and which is expected to take approximately two weeks to complete. A diamond drill program will follow at a later date.
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