SYMC Resources Limited
TSX VENTURE : SY

SYMC Resources Limited

January 18, 2007 15:12 ET

SYMC Resources Limited: Macktush Property Winter Exploration Update

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 15, 2007) - SYMC Resources Limited ("SYMC" or the "Company") (TSX VENTURE:SY) is pleased to announce final results from its 2006 work program consisting of prospecting of airborne geophysical targets, and diamond drilling programs on previously known targets on its wholly owned Macktush Property near Port Alberni, B.C.

Both geochemistry and assay results have been received by SYMC from Acme Analytical Laboratories ("Acme") for all 336 rock samples and 26 stream sediment moss mat samples taken from four airborne electromagnetic anomaly clusters (Rex, Cous, West and Macktush) by SYMC's prospecting crews since June 2006. Several outcrop (o/c) rock samples and moss mat samples from the Rex and Cous clusters, and one outcrop rock sample from the Beach area east of the Macktush Cluster, have yielded elevated values in copper, gold, silver, and/or iron and occasionally in molybdenum, lead, zinc and/or other mineral deposit pathfinder elements. Highlights received since the fall exploration update (see SYMC October 25, 2006 news release) from selected (sel.) outcrop (o/c) grab and representative (rep.) outcrop chip samples are as follows:



Sample
Cluster No. Sample Description Cu % Au g/t Ag g/t Fe %
------- ------ ------------------------------ ----- ------ ------ ----
Cous 312742 0.5 m. rep. outcrop chip of 0.373 0.183 17.5 32.2
Fe/Cu skarn
Cous 312746 0.5 m. rep. outcrop chip of 0.246 0.097 3.4 27.4
Fe/Cu skarn
Cous 312747 0.25 m. rep. outcrop chip of 0.111 0.683 0.4 35.7
Fe/Cu skarn
Cous 343712 0.33 m. select outcrop grab of 2.355 0.350 5.0 6.2
Cu skarn
Cous 343713 0.5 m. sel. outcrop grab of 0.139 0.387 0.6 28.7
Fe/Cu skarn
Cous 343717 0.33 m. sel. outcrop grab of 0.262 0.169 3.0 3.3
Qtz.-S. vein
Cous 343719 select outcrop grab of 0.269 0.255 3.1 4.8
mineralized tuff
Cous 343721 5 m. sel. o/c grab mineralized 0.255 0.181 3.4 4.6
porphyry
Cous 343722 0.13 m. select outcrop grab 0.249 0.330 7.4 3.9
Qtz.-S. vein
Cous 343726 select outcrop grab of 0.452 0.255 9.3 26.9
Fe/Cu skarn
Cous 343730 5 m. select o/c grab of 0.095 0.140 1.5 4.5
mineralized tuff
Cous 343733 2 m. select o/c grab of 0.116 0.057 0.7 4.5
mineralized tuff
Beach 343809 1.2 m. select outcrop grab 0.834 0.024 3.0 3.8
Qtz.-S. vein (and 0.01% Mo)
Cous 343879 1 m. sel. o/c grab mineralized 0.805 0.424 0.7 3.2
volcanic
Cous 343883 10 m. sel. o/c grab of 0.162 0.009 0.4 8.7
mineralized tuff
Rex 343891 3 m. sel. outcrop grab 0.119 0.014 0.2 18.2
mineralized tuff
Rex 343892 0.25 m. sel. outcrop grab 13.910 2.713 29.0 30.8
S.-Qtz. vein
Rex 343894 4 m. sel. o/c grab of 0.174 0.752 0.5 6.9
intrusive breccia
Cous 343901 0.2 m. sel. outcrop grab of 0.049 0.243 0.5 41.8
Fe skarn
Cous 343905 0.06 m. sel. o/c grab of 0.099 0.101 2.3 3.5
mineralized tuff
Cous 343923 1 m. sel. o/c grab of 0.440 0.025 0.6 7.0
mineralized tuff (and 0.150% Pb, 0.630% Zn)


The presence of elevated values of copper, gold and silver in outcropping magnetite-bearing iron (Fe) skarn and chalcopyrite-bearing copper (Cu) skarn mineralization discovered by SYMC prospecting crews at several locations in the Cous Cluster surrounding the MC Zones is very encouraging. Elevated copper, lead and zinc values in tuffaceous volcanics suggests the potential for volcanogenic massive sulphide mineralization as well. The presence of elevated copper, gold and silver in outcropping quartz-sulphide (Qtz.-S.) veins and intrusive breccia in the Rex Cluster has provided focal points for phase 2 work proposed on this large (5 by 3 km.) target area. Additional modeling of the 2005 airborne geophysical data, prospecting, detailed mapping, and trenching are warranted and proposed for 2007 both to follow up these new outcrop discoveries as well as to identify bedrock sources of elevated stream moss mat values.

Both geochemistry and assay results have been received by SYMC from Acme for three diamond drill holes which targeted the MC copper-gold-silver quartz-sulphide skarn/vein Zone. All three holes successfully tested the MC Zone (referred to as MC 1), and discovered additional parallel deeper zones (MC 2, MC 3), as follows:



Inter- Au Ag
Drill Hole Target Vein From To val Cu % g/t g/t Fe %
------------------ ----------- ----- ----- ------ ----- ----- ----- ----
MC-06-01 MC 1 Zone 31.1 35.1 4.0 m. 0.058 0.081 0.669 5.27
(-60 degrees under including: 31.1 31.7 0.6 m. 0.152 0.045 2.000 4.58
MC showing) and: 33.2 35.1 1.8 m. 0.068 0.156 0.700 5.96
MC 2 Zone 62.5 79.1 16.6 m. 0.164 0.194 2.051 7.92
including: 62.5 66.9 4.4 m. 0.132 0.096 1.652 7.96
and: 70.6 71.2 0.6 m. 1.380 1.193 15.30 6.79
and: 73.5 79.1 5.6 m. 0.205 0.266 2.749 7.11
MC 3 Zone 96.2 97.3 1.1 m. 0.037 0.797 0.900 7.80

MC-06-02 MC 1 Zone 32.5 32.8 0.3 m. 1.009 0.692 24.00 16.2
(-86.5 degrees under MC 2 Zone? no significant intercept
MC-06-01) MC 3 Zone? 94.4 94.7 0.3 m. 0.638 0.582 4.000 12.3

MC-06-03 MC 1 Zone 35.7 36.0 0.3 m. 0.067 0.042 0.500 4.61
(-60 degrees 50 m. MC 2 Zone 69.5 79.4 9.9 m. 0.092 0.075 1.082 6.35
NNE of including: 69.5 74.5 5.0 m. 0.161 0.123 1.961 8.04
MC-06-01,-02) including: 70.9 72.6 1.7 m. 0.306 0.218 4.000 8.51
and including: 78.5 79.4 0.9 m. 0.073 0.098 0.800 7.33
MC 3 Zone 109.3 111.1 1.8 m. 0.058 0.132 1.000 5.03


The copper-gold-silver mineralization intersected during the 2006 drilling program at the MC 1-3 Zones consists of WNW-dipping, sub-parallel quartz-calcite-sulphide stockwork veins hosted by highly altered volcanics and containing variable pyrite, chalcopyrite, pyrrhotite and bornite. Additional drilling is warranted and proposed for 2007 on the MC Zones, and initial drilling is also warranted and proposed for 2007 on the Rex target. A permit to drill the Rex target is pending from the B.C. government, subject to a possible archaeological study as requested by one of the Port Alberni area First Nations. All further work on the Company's properties will be subject to the Company completing equity financing to fund this work.

All of SYMC's work programs are supervised by Jacques Houle, P.Eng., who is a qualified person under National Instrument 43-101 for the purposes of this news release.

The Company has also granted Incentive Stock Options to newly elected Directors in the aggregate amount of 500,000 common shares exercisable at $0.15 per share for periods of 5 years with expiry date to October 23, 2011. The Incentive Stock Options grants are pursuant to the Company's Stock Option Plan as outlined in the Information Circular dated June 2, 2005, as approved by the majority of shareholders of the Company at its Annual General Meeting held on June 30, 2005.

About SYMC

SYMC is an active mining exploration company which owns three mineral properties in B.C. and is currently exploring them for gold, silver, copper and molybdenum.

Herbert McMaster, President

Contact Information

  • SYMC Resources Limited
    Herbert McMaster
    President
    (604) 723-7027
    or
    SYMC Resources Limited
    Mark T. Brown
    CFO
    (604) 687-3520
    (250) 723-4544 (FAX)