Newmac Resources Inc.: Fox Molybdenum Project Review.PORT MOODY, British Columbia Port Moody, British Columbia is a small city forming a crescent at the east end of Burrard Inlet in British Columbia, Canada, and part of the Metro Vancouver district. It is bordered by Coquitlam on the east, and Burnaby on the west. -- Newmac Resources Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:NER)(FWB (Fixed Wireless Broadband) See fixed wireless. :N3M) is currently preparing to commence the 2006 exploration program on the Crazy Fox molybdenum molybdenum (məlĭb`dənəm) [Gr.,=leadlike], metallic chemical element; symbol Mo; at. no. 42; at. wt. 95.94; m.p. about 2,617°C;; b.p. about 4,612°C;; sp. gr. 10.22 at 20°C;; valence +2, +3, +4, +5, or +6. project located 20 kilometres north-northwest of the village of Little Fort, BC. Molybdenum has been explored for on the Crazy Fox property since 1938 but with recent renewed effort following the discovery of high-grade boulders in 2005 found as new logging roads were being constructed. One of these boulders, (A quartz-feldspar porphyritic por·phy·rit·ic also por·phy·rit·i·cal adj. 1. Of or containing porphyry. 2. Containing relatively large isolated crystals in a mass of fine texture. Adj. 1. rock with disseminated MoS2,) which are typically angular, and up to 50 kilograms in weight, was recently assayed and returned an analysis of 7.29% molybdenum and 1.583 grams per tonne rhenium rhenium (rē`nēəm), metallic chemical element; symbol Re; at. no. 75; at. wt. 186.207; m.p. about 3,180°C;; b.p. about 5,625°C;; sp. gr. 21.02 at 20°C;; valence −1, +2, +3, +4, +5, +6, or +7. . The current price for molybdenum, in the range of $20 to $30 US dollars per pound and for rhenium recently quoted at $US 1,050 per ounce, make the source of these boulders a compelling target. The Crazy Fox property is located 70 kilometers south-southeast of the Boss Mountain molybdenum mine. Boss Mountain, owned by Noranda Mines was in production from 1965 to 1983 during which time it processed 6,570,000 tonnes of ore with an average grade of 0.22% molybdenum, mined by both surface and underground methods. Both the Crazy Fox property and the Boss Mountain properties are located within the Triassic-Jurassic aged Quesnel Terrane ter·rane also ter·rain n. 1. A series of related rock formations. 2. An area having a preponderance of a particular rock or rock groups. [Alteration of terrain.] and each property is proximal to a Cretaceous age (approx.102 my) intrusive. At Boss Mountain, mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. occurs in quartz stock work veins, larger veins and in higher-grade breccia breccia: see conglomerate. breccia Coarse sedimentary rock consisting of angular or nearly angular fragments larger than 0.08 in. (2 mm). Breccia commonly results from processes such as landslides or geologic faulting, in which rocks are fractured. bodies related to the Cretaceous intrusive. Molybdenum production in the western world's economies is currently dominated by US based Phelps Dodge Corporation who operates the world's largest primary molybdenum mine at Henderson Colorado. Henderson, which began production in 1976, produced 160 million tons of ore to 1992 (date of statistic) grading 0.24% Mo (similar to Boss Mountain) and remains in production today. British Columbia has also been a significant producer of molybdenum since 1965 with the Endako Molybdenum Mine having produced 422 million pounds of molybdenum since then. Endako had published reserves at the end of 2004 of 80.7 million tonnes grading 0.063% Mo with mining completed using open pit methods. At the Crazy Fox property, molybdenite molybdenite (məlĭb`dənīt, mō–), a mineral, molybdenum disulfide, MoS2, blue-gray in color, with a metallic luster and greasy feel. (MoS2), (often simply referred to as 'moly') has been recognized in quartz stock work veins, larger veins, in pegmatite pegmatite: see granite. pegmatite Almost any wholly crystalline igneous rock that is at least in part very coarse-grained, the major constituents of which include minerals typically found in ordinary igneous rocks (such as granites) and in which (very coarse grained rocks) and as disseminated mineralization (in float). The moly moly herb given by Hermes to Odysseus to ward off Circe’s spells. [Gk. Myth.: Odyssey] See : Protection is variably associated with tungsten minerals and fluorite fluorite (fl  `ərīt) or fluorspar (fl .Recent Exploration by Newmac to the east and southeast of the focus of previous exploration efforts on the property in the 1960's to early 80's has revealed a somewhat clustered group of newly discovered molybdenite occurrences which include localized high grade mineralization in pegmatitic peg·ma·tite n. A coarse-grained granite, sometimes rich in rare elements such as uranium, tungsten, and tantalum. [Greek p sections. The pegmatitic rocks are apparently related, proximally and genetically, to dikes of fine grained, quartz- feldspar feldspar (fĕl`spär, fĕld`–) or felspar (fĕl`spär), an abundant group of rock-forming minerals which constitute 60% of the earth's crust. porphyry. Four selected grab samples from local pegmatite or 'open space filling' in trenches 4, 5, and 6 are as follows: A505335 from Trench 4 equals 2.810% Mo D63425 from Trench 5 equals 0.761% Mo D63421 from Trench 6 equals 0.449% Mo D63423 from Trench 6 equals 0.278% Mo
Results of the November 2005 trenching program are as follows:
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TRENCH # INTERVAL (m) LENGTH (m) % MoS2 % Mo
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OT-1 10-69 59 .060 .036
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75-85 10 .037 .022
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6 28-40 12 .050 .030
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8 0-70 70 .025 .015
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Includes
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0-30 30 .035 .021
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40-70 30 .022 .013
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8 100-125 25 .040 .024
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12 34-35 1 .032 .019
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39-51 12 .018 .011
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25 41-46 6 .094 .057
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57-100 43 .036 .021
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Assays performed by Acme Analytical Laboratories Ltd. Vancouver BC The results show the persistence of mineralization across local widths in excess of 125m within a local area approximately 200m x 300m in extent and open to extension to the north and west towards areas of previously identified mineralization. The ability of the system to generate much higher grades when the 'plumbing system' is in place is illustrated by the higher grade samples associated with pegmatitic textures and open space fillings. The results are comparable to historical results reported from the 1960's through 1980's elsewhere on the property. Taken together, the molybdenite mineralization is now recognized over an area approximately 1,200m wide. Company geologists believe the modes and styles of the moly occurrences and the mineral associations may be indicative of a relatively high level within the mineralizing system. One of the objectives of the planned program at Crazy Fox will be to target the potentially highly mineralized min·er·al·ize v. min·er·al·ized, min·er·al·iz·ing, min·er·al·iz·es v.tr. 1. To convert to a mineral substance; petrify. 2. To transform a metal into a mineral by oxidation. 3. contact zone and to locate favorable areas in and adjacent to, the intrusive stock where breccia bodies and related open space filling would be expected to occur. Drilling is scheduled to start in late February and will be accompanied with additional mechanical trenching. Three thousand metres (10,000 feet) of diamond drilling is anticipated to be completed in this program. Technical content of this news release has been reviewed by W.A. Howell P.Geo., a qualified person within the definitions of national instrument 43-101. Respectfully submitted ON BEHALF OF THE BOARD "David Hjerpe" David Hjerpe, President This news release contains forward-looking statements within the meaning of the "safe harbour" provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and 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 TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. DOES NOT TAKE RESPONSIBILITY FOR THE ADEQ ADEQ Arizona Department of Environmental Quality ADEQ Arkansas Department of Environmental Quality ADEQ Adult Equivalent UACY OR ACCURACY OF THIS RELEASE. Newmac Resources Inc. (TSX VENTURE:NER) (FRANKFURT:N3M) |
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