SOURCE: NMC Resource Corporation

NMC Resource Corporation

December 02, 2014 08:30 ET

NMC Resource (TSX VENTURE: NRC) Intersects 0.13% Mo Over 397.75M and Announces Final Results From Boss Mountain

VANCOUVER, BC--(Marketwired - December 02, 2014) - NMC Resource Corporation (TSX VENTURE: NRC) ("NMC Resource" or the "Company") is pleased to report the remaining results from 2014 drill campaign at the Boss Mountain Project ("Boss Mountain") located near 100 Mile House B.C. The particulars of each drill hole can be found in table 6.

Hole BOSS-14-07, located between pits 1 and 2, returned 0.08% Mo* (0.13% MoS2*) over 295.10m, which includes 0.09% Mo (0.16% MoS2*) over 104.30m. Assays from this hole continue to demonstrate the presence of Re with assays reaching up to 1.70g/t Re over 1.00m. The assay results confirmed the previously intersected mineralization, and successfully extended the known mineralization an additional 186 meters. The hole remains a high priority for future extension as encouraging mineralization is still observed in assays near the bottom of the hole.

BOSS-14-08 drilled 173m and returned 0.08% Mo (0.13% MoS2) over 127.00m.

BOSS-14-09, located to the southwest of Pit 3, which was designed to confirm and test the southeastern extension of the deposit, successfully intersected 0.08% Mo (0.13% MoS2) over 325.0m. The hole continued to demonstrate the continuity of mineralization at both depth and along strike, with a high grade semi-massive molybdenum vein being intersected at 260.75m which returned 4.64% Mo over 0.50m.

BOSS-14-10 was an exploration hole located to the south of Pit 2 and was designed to test the southern extension of the mineralization. This hole intersected a 22m wide high grade vein zone which returned 0.17% Mo (0.28% MoS2).

Boss-14-11 was designed to confirm and test the northwestern extension of mineralization encountered in the Open Stope. The hole successfully extended the zone an additional 154m and returned 0.13% Mo (0.22% MoS2) over 397.75m and up to 4.25 g/t Re over 0.70m. High grade molybdenum bearing quartz veins were intersected throughout the hole, and this supports the hypothesis that a high grade extension of the deposit is present at greater depths. The northwest zone of the deposit remains a high priority for future drill campaigns.

Highlights from BOSS-14-07 to BOSS-14-11 are reported below:

Table 1. BOSS-14-07 significant results

        Total      
Hole   From  To  Length Mo MoS2  Re
Number   (m) (m) (m) (%) (%) (g/t)
BOSS-14-07   35.20 330.30      295.10 0.080 0.133  
  Including 35.20 87.40        52.20 0.086 0.143  
  " 97.20 134.30        37.10 0.083 0.138  
  " 147.90 173.10        25.20 0.098 0.163  
  " 226 330.30      104.30 0.093 0.155  
  " 226.00 271.30        45.30 0.170 0.284  
  Including            
  " 233.90 234.90        1.00 2.080 3.470 1.70
  " 231.80 232.80        1.00 0.734 1.224 0.88
  " 105.80 106.50        0.70 0.548 0.914 0.35
  " 263.00 264.00        1.00 0.525 0.876 0.43
  " 265.50 266.30        0.80 0.509 0.849 0.36
  " 167.30 168.10        0.80 0.498 0.831 0.41
  " 127.90 128.90        1.00 0.470 0.784 0.52
  " 329.70 330.30        0.60 0.465 0.776 0.39
  " 309.00 309.60        0.60 0.437 0.729 0.38
  " 35.20 36.00        0.80 0.410 0.684 0.36
  " 71.00 72.05        1.05 0.410 0.684 0.41
  " 311.30 312.00        0.70 0.409 0.682 0.40
  " 226.00 227.00        1.00 0.406 0.677 0.34
  " 148.70 149.40        0.70 0.401 0.669 0.29
  " 261.50 262.10        0.60 0.368 0.614 0.25
  " 45.00 46.00        1.00 0.347 0.579 0.33
  " 161.50 162.50        1.00 0.315 0.525 0.30
  " 50.00 51.00        1.00 0.303 0.505 0.28
  " 234.90 235.80        0.90 0.288 0.480 0.23
  " 117.90 118.90        1.00 0.284 0.474 0.23
  " 239.80 240.80        1.00 0.276 0.460 0.23
  " 121.50 122.60        1.10 0.271 0.452 0.28
  " 191.00 191.80        0.80 0.269 0.449 0.21
  " 52.00 52.75        0.75 0.258 0.430 0.20
  " 254.70 255.70        1.00 0.254 0.424 0.13
  " 76.00 76.80        0.80 0.253 0.422 0.22
  " 60.00 61.00        1.00 0.234 0.390 0.19
  " 117.30 117.90        0.60 0.226 0.377 0.19
  " 169.00 170.00        1.00 0.221 0.369 0.15
  " 252.70 253.70        1.00 0.218 0.364 0.15
  " 204.60 205.40        0.80 0.217 0.362 0.15
  " 82.60 83.70        1.10 0.201 0.335 0.17

Table 2. BOSS-14-08 Significant Results

      Total      
Hole   From To  Length Mo MoS2 Re
 Number   (m) (m) (m) (%) (%) (g/t)
BOSS-14-08   45.50 173.20      127.70 0.079 0.132          -
    149.00 159.00        10.00 0.250 0.417          -
  Including            
  " 45.50 46.50        1.00 0.144 0.240          -
  " 50.50 51.50        1.00 0.159 0.265          -
  " 52.50 53.25        0.75 0.236 0.394          -
  " 53.25 53.75        0.50 0.165 0.275          -
  " 53.75 55.00        1.25 0.414 0.691          -
  " 61.00 62.00        1.00 0.127 0.212          -
  " 62.00 63.00        1.00 0.166 0.277          -
  " 66.00 67.00        1.00 0.105 0.175          -
  " 69.00 70.00        1.00 0.132 0.220          -
  " 70.00 71.00        1.00 0.165 0.275          -
  " 79.00 80.00        1.00 0.103 0.172          -
  " 88.00 89.00        1.00 0.130 0.217          -
  " 102.00 103.00        1.00 0.135 0.225          -
  " 107.00 108.00        1.00 0.119 0.199          -
  " 108.00 109.00        1.00 0.117 0.195          -
  " 118.00 119.00        1.00 0.114 0.190          -
  " 121.00 122.00        1.00 0.138 0.230          -
  " 123.25 124.00        0.75 0.169 0.282      0.51
  " 124.00 125.00        1.00 0.143 0.239          -
  " 125.00 126.00        1.00 0.119 0.199          -
  " 133.00 134.00        1.00 0.215 0.359          -
  " 149.00 150.00        1.00 0.106 0.177          -
  " 150.00 151.00        1.00 0.701 1.169          -
  " 151.00 152.00        1.00 0.310 0.517          -
  " 152.00 153.00        1.00 0.163 0.272          -
  " 153.00 154.00        1.00 0.283 0.472          -
  " 154.00 155.00        1.00 0.193 0.322          -
  " 155.00 156.00        1.00 0.369 0.616          -
  " 157.00 158.00        1.00 0.127 0.212          -
  " 158.00 159.00        1.00 0.134 0.224          -
  " 171.00 172.00        1.00 0.109 0.182          -

Table 3. BOSS-14-09 Significant Results

        Total      
Hole   From To Length MoMoS2 Re
Number   (m) (m) (m) (%) (%) (g/t)
BOSS-14-09   38 363 325 0.075 0.125  
  Including 89.95 149.00 59.05 0.084 0.140  
  " 198.00 221.00 23.00 0.065 0.108  
  " 260.75 272.00 11.25 0.260 0.434  
  Including            
  " 11.00 12.00 1.00 0.100 0.167 0.291
  " 38.00 39.00 1.00 0.342 0.570 -
  " 72.00 73.00 1.00 0.122 0.204 0.170
  " 82.00 83.00 1.00 0.115 0.192 0.136
  " 89.95 91.00 1.05 0.289 0.482 -
  " 95.00 96.00 1.00 0.181 0.302 -
  " 104.00 105.00 1.00 0.294 0.490 -
  " 107.00 108.00 1.00 0.258 0.430 -
  " 116.00 117.00 1.00 0.145 0.242 0.480
  " 117.00 118.05 1.05 0.109 0.182 0.362
  " 119.00 120.00 1.00 0.897 1.496 0.887
  " 122.00 123.00 1.00 0.116 0.193 0.249
  " 123.00 124.00 1.00 0.108 0.180 0.246
  " 125.00 126.00 1.00 0.163 0.272 0.567
  " 129.00 130.00 1.00 0.307 0.512 -
  " 133.00 134.00 1.00 0.519 0.866 0.373
  " 143.00 144.00 1.00 0.194 0.324 -
  " 148.05 149.00 0.95 0.190 0.317 -
  " 156.00 157.00 1.00 0.149 0.249 0.511
  " 198.00 199.00 1.00 0.275 0.459 -
  " 208.00 209.00 1.00 0.204 0.340 -
  " 217.00 218.00 1.00 0.446 0.744 -
  " 220.00 221.00 1.00 0.197 0.329 -
  " 223.00 224.00 1.00 0.341 0.569 -
  " 260.75 261.25 0.50 4.640 7.740 5.510
  " 265.00 266.00 1.00 0.319 0.532 -
  " 315.00 316.00 1.00 0.116 0.193 0.159
  " 322.90 324.00 1.10 0.102 0.170 1.290
  " 331.00 332.00 1.00 0.222 0.370 -
  " 343.00 344.00 1.00 0.103 0.172 0.217
  " 351.00 352.00 1.00 0.140 0.234 0.165
  " 361.00 363.00 2.00 0.113 0.188 0.096
  " 371.00 372.00 1.00 0.112 0.187 0.115
  " 378.00 379.00 1.00 0.178 0.297 0.293

Table 4. BOSS-14-10 Significant Results

        Total      
Hole   From    To Length Mo MoS2  Re
   Number   (m) (m) (m) (%) (%) (g/t)
BOSS-14-10   187.00 209.00 22.00 0.17 0.28  
  Including            
  " 154.00 155.00 1.00 0.378 0.631 -
  " 187.00 188.00 1.00 0.281 0.469 -
  " 190.00 191.00 1.00 0.117 0.195 -
  " 197.00 198.00 1.00 0.150 0.250 -
  " 204.50 205.00 0.50 0.606 1.011 0.27
  " 205.00 206.00 1.00 0.245 0.409 -
  " 206.00 207.00 1.00 0.798 1.331 0.42
  " 207.00 208.00 1.00 0.931 1.553 0.49
  " 208.00 209.00 1.00 0.519 0.866 0.29

Table 5. BOSS-14-11 Significant Results

             Total      
Hole   From To  Length Mo MoS2 Re
Number   (m) (m) (m) (%) (%) (g/t)
BOSS-14-11   1.75 399.50 397.75 0.13 0.217  
  Including 94 151.50 57.50 0.23 0.384  
  " 172.1 279.00 106.90 0.19 0.317  
  " 317.6 399.50 81.90 0.15 0.250  
  Including            
  " 119.30 120.00        0.70 4.950 8.257 4.25
  " 275.00 275.50        0.50 4.110 6.856 3.8
  " 115.80 116.50        0.70 3.940 6.572 3.53
  " 337.30 338.10        0.80 3.580 5.972 3.73
  " 207.30 208.30        1.00 2.850 4.754 2.45
  " 392.10 393.15        1.05 2.230 3.720 1.95
  " 371.50 372.00        0.50 1.980 3.303 1.9
  " 398.20 398.80        0.60 1.780 2.969 1.5
  " 173.50 174.00        0.50 1.260 2.102 1.19
  " 146.40 147.30        0.90 1.100 1.835 2.3
  " 190.70 191.50        0.80 1.090 1.818 1.56
  " 194.10 195.10        1.00 0.965 1.610 2.17
  " 192.50 193.10        0.60 0.914 1.525 2.12
  " 270.50 271.90        1.40 0.893 1.490 0.798
  " 229.50 230.30        0.80 0.881 1.470 0.824
  " 254.00 254.50        0.50 0.875 1.460 0.944
  " 116.50 117.80        1.30 0.793 1.323 0.946
  " 325.80 326.40        0.60 0.755 1.259 0.782
  " 208.30 209.40        1.10 0.660 1.101 0.532
  " 186.70 187.70        1.00 0.637 1.063 0.789
  " 193.10 194.10        1.00 0.621 1.036 1.36
  " 126.90 128.00        1.10 0.602 1.004 0.862
  " 126.10 126.90        0.80 0.574 0.957 0.503
  " 209.40 210.10        0.70 0.528 0.881 1.07
  " 236.90 237.60        0.70 0.480 0.801 0.541
  " 195.70 196.40        0.70 0.475 0.792 0.676
  " 301.40 302.00        0.60 0.445 0.742 0.415
  " 267.30 267.95        0.65 0.401 0.669 0.35

Width refers to drill hole intercepts. All assays reported are uncut.

Table 6. 2014 Diamond Drilling Collar Information

Drill Hole Azimuth Dip Depth (m)
BOSS-14-01   -90 252
BOSS-14-02   -90 255
BOSS-14-03 234 -65 252
BOSS-14-04   -90 252
BOSS-14-05   -90 252
BOSS-14-06 234 -45 272
BOSS-14-07   -90 336
BOSS-14-08 270 -45 173
BOSS-14-09   -90 402
BOSS-14-10 90 -85 248
BOSS-14-11 266.5 -60 414

The results from the 2014 drill campaign successfully highlighted the robust mineral potential remaining at the historic Boss Mountain mine. Drilling has shown the presence of molybdenum mineralization at least 180 meters past previously tested depths, in addition to further along strike. Assay results also successfully demonstrated the previously unrealized potential of Rhenium mineralization, which historically was never assayed for, and remains a high priority to include in future resource estimations.

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-start mining operations at 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 mineralization. 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.

QA/QC Statement

Drill cores were cut in half using a diamond saw, with one-half place in sealed bags. Core samples were transported via courier to AGAT Laboratories accredited sample preparation facility in Burnaby, BC, and were analyzed with 4-acid digestion and an inductively coupled plasma - optical emission spectroscopy finish by AGAT Laboratories in Mississauga, ON. A sample quality control/ quality assurance program was implemented. The Company maintained a well-structured QA/QC policy during the 2014 exploration program. Blanks and three individual standards were used. Either a blank or a standard was inserted at a minimum of every 10 samples. Replicates were also checked. Results of the QA/QC program demonstrate that AGAT Laboratories is within accepted industry standards, with no issues being highlighted.

Technical information of this news release was prepared by Mr. Cameron Norton, P.Geo, and reviewed by Mr. Bruce Durham, P.Geo. Mr. Durham and Mr. Norton are Qualified Persons as defined by NI 43-101.

 * Mo = Molybdenum, MoS2 = Molydenum Disulfide, Re = Rhenium

** For a map of the 2014 drilling campaign, please visit the following link.

http://www.nmcresource.com/i/pdf/2014%20Boss%20Drilling%20Map%20with%20Collar%20Info.pdf

About NMC Resource Corporation

NMC Resource Corporation (TSX VENTURE: NRC) is a mining company with two molybdenum assets: NMC Moland Mine ("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 among other requirements. NMC Resource Corporation signed a letter of intent with Dong Won Corporation to go private at $0.20 a share.

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 the hole remains a high priority for future extension as encouraging mineralization is still observed in assays near the bottom of the hole, that the northwest zone of the deposit remains a high priority for future drill campaigns, and 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.

Contact Information

  • NMC Resource Corporation
    Suite 1100 - 1111 Melville Street
    Vancouver, BC Canada V6E 3V6
    Tel: (604) 643-1730
    Toll Free: (888) 617-5333
    www.nmcresource.com