Newmac Resources Inc.

Newmac Resources Inc.

January 07, 2008 10:52 ET

Newmac Resources Inc.: Partial Assays Received 98 Metres Grading 0.33% Mos2 Intersected

PORT MOODY, BRITISH COLUMBIA--(Marketwire - Jan. 7, 2008) - Newmac Resources Inc. (TSX VENTURE:NER)(FRANKFURT:N3M) is pleased to announce partial assays from diamond drill hole CF07-41, drilled on the southwestern region of the Crazy Fox property located in south-central British Columbia one hundred kilometers north of the City of Kamloops.

Hole CF07-41 penetrated a low angle (thrust) fault at approximately 390 m (1280 feet) which previously, and further to the north, had formed the lower limit to molybdenum-tungsten mineralization. Below this fault CF07-41 encountered mineralized intrusive rocks to the bottom of the hole at a depth of 1021m (3349 feet). Results of the partial analysis now received are as follows:

Hole From To Width MoS2 Mo W
07-41 (m) (m) (m) (%) (%) (%)
Intercept 494.7 748.7 254.0 0.22 0.13 0.010
Including 546.7 748.7 202.0 0.26 0.16 0.011
Including 650.7 748.7 98.0 0.33 0.20 0.011
Including 668.7 740.7 72.0 0.37 0.23 0.011
Including 682.7 722.7 40.0 0.47 0.28 0.011
Including 708.7 722.7 14.0 0.96 0.58 0.005

Hole CF 07-41 was designed 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 mineralized body would intersect mineralized intrusive rock in the lower plate of the thrust extending the prospective area of molybdenum-tungsten mineralization for an unknown distance to the west, south and to depth.

Hole CF 07-41 was drilled westerly at -70 degrees. The hole was commenced on October 27 and encountered the thrust fault between 388.1 and 393.2 meters and was completed on November 25. The mineralization encountered 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.

Please note the hole ended in mineralization at a depth of 1,021 m and that the results reported in this release are partial and will be recalculated upon receipt of the remaining analysis.

Two additional holes were attempted in December, CF 07-42 was collared east of CF 07-41 and was drilled westerly at -60 degrees on section with Hole CF 07-41, this hole was lost due to ground caving at 257.9 m, before reaching the thrust fault and the prospective lower plate to the fault. CF 07-43 was subsequently collared east of CF 07-41 and was also drilled westerly at -60 degrees. Hole CF 07-43 flattened substantially to an angle of approximately -43 degrees eventually piercing the thrust fault at a depth of 510.4 (approximately 120 m south west of where CF04-41 pierced the fault). CF04-43 encountered 29.6 m of molybdenum mineralization similar to CF04-41 before the hole was again lost due to ground caving.

Assays were performed by Acme Analytical Laboratories Ltd. of Vancouver, B.C., a certified facility, using ICP-mass spectrometry methods (results have not yet been received for 537 metres of hole CF07-41; from 189 to 454 m and from 749 to 1021 m).

Newmac is preparing for an aggressive drill program, which will commence in January 2008. More details will be released as they become available.

A number of photographs of the mineralization encountered have been posted to the company's website:

Technical content of this news has been reviewed by W. A. Howell, PGeo, a qualified person within the definitions of National Instrument 43-101.

Respectfully submitted


David Schmidt, Director

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.

Contact Information

  • Newmac Resources Inc.
    David Hjerpe
    (604) 461-7211
    Newmac Resources Inc.
    David Schmidt
    (604) 681-1909