SOURCE: NMC Resource Corporation

NMC Resource Corporation

October 14, 2014 09:00 ET

NMC Resource (TSX VENTURE: NRC) Announces Completion of 2014 Drilling at Boss Mountain Mine

VANCOUVER, BC--(Marketwired - October 14, 2014) - NMC Resource Corporation (TSX VENTURE: NRC) ("NMC Resource" or the "Company") successfully completed the drilling of 11 holes totalling 3,075 meters at Boss Mountain Mine ("Boss Mountain"). Boss Mountain produced molybdenum in the past when operated by Noranda Mines Ltd. ("Noranda"). This program was designed to confirm the previously reported mineralization, extend the boundaries of the known zones both at depth and along strike, and test other potential elements in the deposit.  Analytical work is being carried out by AGAT Laboratories Ltd.

Boss Mountain is located near the historic mining town of Hendrix Lake, approximately 88 km east of 100 Mile House in British Columbia, Canada. Noranda produced 7,430,340 tonnes of ore at 0.217% Mo (0.36% MoS2) intermittently for the period of 1965 – 1983. Surface access leading to and across the site remains in excellent condition and provide easy access to where the surface mining efforts stopped.  These access roads will be instrumental in facilitating expedited restart on site, should the Company decide to re-open Boss Mountain.

The region encompasses the  Upper Triassic- Lower Jurassic Takomkane Batholith, which is host to the mineralization. Similar to Guichon Batholith which hosts the extensive Highland Valley deposit, the Takomkane Batholith intrudes Upper Triassic and older Nicola volcanics  and other sedimentary rocks. The Cretaceous quartz monzonite intrudes the older rocks and flanks the Takomkane Batholith to the East. Eight stages of oscillatory magmatic activity have been recognized at the Boss Mountain deposit, three of which resulted in the emplacement of the substantial molybdenum reserves and six primary zones on site. Mineralization on site occurs as both high grade molybdenum bearing quartz veins, and as disseminated grains in the matrix which forms an intensely fractured quartz-andesite breccia.  

The full extent of the zones remains untested both at depth and along strike and is target of both the current, and future drilling campaigns.*

The 2014 drill program was managed by Mr. Cameron Norton, P.Geo, and supervised by Mr. Bruce Durham, P.Geo. This news release has been reviewed by Mr. Durham and Mr. Norton, Qualified Persons as defined by NI 43-101.  

*A map of the 2014 drilling campaign is as attached.

About NMC Resource Corporation

NMC Resource Corporation (TSX VENTURE: NRC) is a mining company with two molybdenum assets:  Moland in South Korea and Boss Mountain Mine ("Boss Mountain") in British Columbia, Canada. Moland started commercial production in April 2010 and has been in production with improved production profile every year. Boss Mountain is a past molybdenum producer. The Company has an option agreement on Boss Mountain with Glencore Canada Corporation to earn 100% interest by spending 3 million Canadian dollars. 

On behalf of the board of
NMC RESOURCE CORPORATION

Per: "Do Hyung Kim"
Do Hyung Kim; President, Chief Executive Officer and Director

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.

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 that access roads will be instrumental in facilitating expedited restart on the Boss Mountain site, should the Company decide to re-open Boss Mountain. 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.

Attachment Available: http://www.marketwire.com/library/MwGo/2014/10/14/11G023756/NR_4_attachment._finalized_holesB-624162258127.pdf

Contact Information

  • Do Hyung Kim
    President, Chief Executive Officer and Director
    Suite 1100 - 1111 Melville Street
    Vancouver, BC Canada V6E 3V6
    Tel: (604) 643-1730
    Toll Free: (888) 617-5333
    www.nmcresource.com