NMC Resource Corporation

NMC Resource Corporation

November 17, 2010 10:30 ET

NMC Resource Corporation: Deep Exploration Drilling Intersects Molybdenite Zones at NMC Moland Mine

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 17, 2010) - NMC Resource Corporation (TSX VENTURE:NRC) (the "Company") is pleased to report that 6 deep exploration drill holes have successfully traced molybdenite mineralization to depth in multiple skarn zones below the 217 metre level which is the deepest level at the NMC Moland Mine. These drill holes were sponsored by KORES (Korea Resources Corporation) who assists Korean companies carry out exploration on a regional basis. The drill holes were designed to follow the general geology and down-dip extent of mineralization at NMC Moland Mine. This drill work is being done in advance of a more detailed drill program to be undertaken by the Company. The holes were drilled 2 holes per section on widely spread 75 metre intervals between sections. The results of these 6 holes follow one hole NMK10-06 that was completed to 200 metre below the 217 metre level (see news release filed on September 22, 2010). This hole intersected two typical skarn zones and a 35 metre siliceous "porphyry" containing molybdenite (0.31% MoS2/35m). The remaining 6 holes have intersected the zones noted below.

Drill Hole Results

NMK10-1: 5 zones ranging 5-45m core length including 0.309% MoS2/36m or 0.294% MoS2/45m

NMK10-2: 4 zones ranging 4-7m core length including 0.202% MoS2/7m, 0.4% MoS2/3.6m

NMK10-3: 2 zones ranging 5-6m core length including 0.219% MoS2/5m

NMK10-4: 4 zones ranging 4.3-6m core length including 0.317% MoS2/4.3m

NMK10-5: 3 zones ranging 7-8m core length including 0.302% MoS2/8m, 0.266% MoS2/7m

NMK10-7: 3 zones ranging 13-14.8m core length including 0.209% MoS2/13.2m, 0.139% MoS2/13m, 0.159% MoS2/14.8m

The MoS2 values were determined with 0.1% MoS2 cutoff for the margin of the zones.

The core lengths reported have represented 60% of the true thickness of the zone. Split drill core was shipped from the mine by secure courier to ALS Chemex of North Vancouver, B.C. where the core was crushed and pulverized to <75mm and a 0.5 gram representative sample was digested by aqua regia (3 acid) solution and then analyzed using ICP (Induced Coupled Spectroscopy). Assays exceeding >10,000 ppm Mo (1%) were reassayed with an ore grade aqua regia digestion and ICP analysis.


Check assaying for the element rhenium (Re) using ICP MS was done on values exceeding 0.3% Mo and values of 0.023 to 0.3ppm were detected. Skarn deposits are not known for high Re; however, with the close proximity of a felsic intrusion, it was decided to assay for Re in selected samples. A more vigorous program of assaying will be done in the future.

A 8th deep drill hole sponsored by KORES is expected to be completed in December 2010 to extend the strike length of the mineralized skarn.

Supervision of the drilling and quality of the sampling and assaying is being done by R.S. Middleton, P.Eng, who is acting as the Q.P. for the Company.

The Company is a new molybdenum producer holding 100% interest of NMC Moland Mine located in Jecheon-si, South Korea.

The Company's parent company, Dong Won Corporation, is a company listed on the Korea Stock Exchange. Dong Won Corporation is a mining company in Korea in operation since April 1962 and has been involved with producing metal and energy resources in Korea, Argentina and Bolivia. The Company successfully developed and is operating producing Moland Mine with the support from Dong Won Corporation's engineering, capital and experience. The Moland Mine is the only producing mine in the region of Korea and Japan, two of the main end-users of molybdenum in the region. The Company intends to acquire more mine assets abroad in the future.

On behalf of the board of

Per:  "Yoo Sup Han"

Yoo Sup Han

President and Director

Forward-Looking Statements: This news release includes certain forward-looking information and forward-looking statements (collectively "Forward-Looking Statements") concerning the future performance of the Company's business, operations and financial performance and condition, as well as management's objectives, strategies, beliefs and intentions. Specifically, this news release includes Forward-Looking Statements regarding a more detailed drill program to be undertaken by the Company, a more vigorous program of assaying to be done in the future, a 8th deep drill hole sponsored by KORES is expected to be completed in December 2010 and expected acquisition of more mine assets. Forward-Looking Statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-Looking Statements are based on the current opinions and expectations of management. All Forward-Looking Statements are inherently uncertain and subject to a variety of risks and uncertainties, including the speculative nature of mineral exploration and development generally and specifically in respect of the interpretation of the geology, continuity, grade and size of mineral deposits, unanticipated operational or technical difficulties, fluctuating commodity prices, competitive risks and the availability of financing, changes in laws or regulations, changes in the financial markets and changes in general economic conditions, as described in more detail in our recent securities filings available at www.sedar.com. Such Forward-Looking Statements are based on a number of assumptions, including but not limited to the level and volatility of the price of molybdenum, the availability of financing, the accuracy of reserve and resource estimates and the assumptions on which those estimates are based and the ability to achieve and maintain certain operational efficiencies. Should one or more risks and uncertainties materialize or should any assumptions prove incorrect, then actual events or results may differ materially from those expressed or implied in the Forward-Looking Statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these Forward-Looking Statements, except as required by applicable law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Contact Information

  • NMC Resource Corporation
    DH (Do Hyung) Kim
    (604) 643-1730
    (604) 642-6192 (FAX)