David Hjerpe President and CEO of Newmac Resources Inc. (TSX-V: NER) provides the following update on the company’s two exploration properties, the Newmac and Fox properties both located in British Columbia.
A one thousand metre diamond drill program (see News Release September 28, 2005) has been completed on the company’s 100% owned Newmac property located near Tatla Lake BC. Holes 2005-1 and 2005-2 have been sent for assay and the remaining holes are being logged and sampled. Results will be reported as soon as they are available. W. A. Howell, P. Geo, the Newmac project’s supervising geologist reports “hole number two encountered variable visible chalcopyrite over the entire 1028 feet of the hole”. The company will not speculate on the grade of the visible minerlization encountered and will wait for assays. The Newmac property consists of 127 claim units covering two types of targets, and 1) typical porphyry copper style mineralization associated with molybdenum and gold. The porphyry mineralization bears some resemblance in geological setting and intrusive style to the large “Prosperity” copper-gold deposit situated in the same terrain some 70 kilometers to the southwest. The porphyry mineralization has been previously tested by several drillholes in the Butler Lake area, where one hole DDH NM 88-2 intercepted 157 meters grading an average of 0.18% copper, a higher grade 18 m interval averaged 0.3% Copper and 0.34 g/tonne gold.
W.A. Howell, P.Geo is the qualified person as defined by National Policy 43-101 who has reviewed the Newmac portion of this news release.
An initial soil sampling and grab sample program has been completed on the Fox property located near Little Fort, BC. Geochemical results will be released once they have been received. At that time plans will be finalized on an initial trenching program. Newmac Resources Ltd. has the right to earn a 100% interest in the Fox property (News Release September 22, 2005). The Fox property, which is approximately 2000 hectares in size, is centered on a Cretaceous stock intrusive into Quesnel terrane rocks. The geological setting and character of known molybdenum mineralization on the Fox claims show possible affinities to Boss Mountain, a former producing molybdenum mine that was put into production by Noranda Mining in the 1960’s and operated until the mid 1970’s.
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.
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