Newmac Resources Inc. (TSX-V: NER) is pleased to announce that drilling in the south western region of the Crazy Fox deposit, outlined by 38 drill holes completed during 2006 and the spring of 2007, has penetrated the low angle fault which previously indicated the lower limits of the deposit .
The new drilling has intersected a long interval of molybdenum mineralized intrusive. Hole CF07-41, the second hole of the current program initiated in early October of this year, was designed by W. A. Howell, P.Geo and David J. Bridge, P.Geo to test the hypothesis that the lower limits to mineralization was a thrust fault and that a drill hole in the south western portion of the known deposit might intersect the lower plate of the thrust within intrusive rock, and that additional mineralized intrusive might occur beneath this fault and extend for an unknown distance to the west and southwest.
Hole CF07-41 drilled westerly at -70˚. The hole was commenced on October 27 and encountered the thrust fault between 388.1 and 393.2 meters. In addition to increasing molybdenum and tungsten mineralization approaching the thrust fault, the hole penetrated mineralized intrusive immediately below the thrust. The mineralization can be described as both disseminated and stockwork in style, with molybdenite and wolframite occurring as disseminated blebs and streaks and in the selvages of centimeter scale quartz veinlets and smaller fractures trending in several orientations. Occasional veinlets of massive molybdenite up to several centimeters in width have also been noted. In general the mineralization is greater in CF07-41 compared to previous holes drilled on the Crazy Fox property.
Hole CF07-41 is currently (November 13th) at a depth of 791.8 m in continuously mineralized intrusive below the thrust fault. The company plans to continue (subject to drilling conditions) to a depth of 1200 meters.
A number of photographs of the mineralization encountered have been posted to the company's website www.newmacresources.com
The Crazy Fox molybdenum project is located 20 km northwest of the village of Little Fort BC. Molybdenum as been reported and has been the subject of exploration on the Crazy Fox property since 1928, but with renewed effort since the location of high-grade boulders in 2005. One of these boulders, which are up to 50 kg, was sampled in 2006 and returned an analysis of 7.26% Molybdenum and 1.524 grans per tonne Rhenium, Highlighting the potential of the Crazy Fox Deposit.
To date all the known mineralization was found in a cut off portion of the upper part of an intrusive body within and above the basal thrust fault. The lower or main intrusive body was postulated, but never found before drill hole CF07-41. To date work on the upper part of the intrusive body has encountered mineralization from surface to depths of 300 m, over an area of 450m x 750m . This mineralized area to date has been tested by a total of 38 diamond drill holes totalling approximately 8,000m (28,000 ft). Within these limits there is potential for a deposit size in the order of 275,000,000 tonnes to 300,000,000 tonnes. Limits of the mineralization have not been reached and the deposit is considered 'open' to the North, West and South. As the limits of mineralization are probed and better understood, this potential may increase substantially. This potential quantity and grade are conceptual in nature because there has been insufficient exploration to define a mineral resource, it is uncertain if further exploration will result in the discovery of a mineral resource.
Technical content of this news has been reviewed by W. A. Howell, PGeo, a qualified person within the definitions of National Instrument 43-101.
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