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About Newmac Newmac Resources (TSX-V: NER) and (Frankfurt : N3N) Newmac Resources Inc. is a mining exploration company developing molybdenum, tungsten and copper properties in British Columbia, focusing on its high-grade molybdenum discovery at the Crazy Fox Property.
PROPERTIES
Crazy Fox (Molybdenum/Tungsten) Newmac Resources Inc. has made a large molybdenum-tungsten discovery at its Crazy Fox property 100 km north of Kamloops, BC. The high-grade of the assays and the large area outlined by current drilling indicates the great potential of this project.
With railroads and power in the area, the property is well located relative to infrastructure for ease of development and production. Newmac has recently purchased a fully operational camp near the discovery, allowing for year-round access and development.
Historical drilling and surface trenching encountered molybdenum and tungsten mineralization over a large area near the surface. In November 2007, Hole CF 07-41 was drilled to test the hypothesis that the lower limits to mineralization was a thrust fault and that a drill hole in the southwestern portion of the known mineralized body would intersect mineralized intrusive rock in the lower plate of the thrust. This hole was successful and mineralization continued in the lower plate to the end of the hole at a depth of1021 m.
Since the discovery of the deep high –grade zone in November 2007, Newmac has drilled 11 holes that intersected molybdenum and tungsten and has extended mineralization to over 800 m along strike. Several long intersections of high-grade molybdenum have been reported.
|
HOLE (#) |
|
From (m) |
To (m) |
Interval (m) |
MoS2 (%) |
Mo (%) |
|
41 |
Intercept |
400.7 |
830.7 |
430 |
0.17 |
0.1 |
|
41 |
Including |
708.7 |
756.7 |
48 |
0.48 |
0.29 |
|
47 |
Intercept |
467 |
791 |
324 |
0.21 |
0.13 |
|
47 |
Including |
565 |
619 |
54 |
0.48 |
0.29 |
|
51 |
Intercept |
437.5 |
781.5 |
344 |
0.18 |
0.11 |
|
51 |
Including |
697.5 |
777.5 |
46 |
0.43 |
0.26 |
|
53 |
Intercept |
629.7 |
823.7 |
194 |
0.08 |
0.05 |
|
53 |
Intercept |
985.7 |
1013.7 |
28 |
0.08 |
0.05 |
|
54 |
Intercept |
553 |
927 |
374 |
0.12 |
0.07 |
|
54 |
Including |
781 |
873 |
92 |
0.2 |
0.12 |
|
56 |
Intercept |
642 |
999 |
357 |
0.12 |
0.07 |
|
56 |
Including |
752.4 |
817 |
64.6 |
0.3 |
0.18 |
Significant molybdenum mineralization has been encountered within the new offset zone below the historical area of exploration on the Crazy Fox property over a strike length of approximately 800 m (open in both directions), and has encountered intercepts of 50 m to 420 m of greater than, or near to, 0.1 per cent MoS2. The mineralization has been encountered at depths of 300 m to over 1,000 m below surface.
The company is currently compiling all drill-hole data, along with a recently completed detailed geophysical (magnetometer) survey to determine a more complete picture of the size of the deposit and to plan a future drill program.
Moira (molybdenum) The Moira molybdenum project is located 18 kilometres northwest of Clearwater, B.C.
Previous exploration by Kerr Addison Mines Ltd. In 1978 and 1980 outlined a molybdenum soil anomaly 1,500 by 800 metres in size and a frequency effect induced polarization survey outlined a 500-by-400-metre anomaly. The Company is conducting a detailed geophysical (magnetometer) survey on the property.
Raft (molybdenum) The Raft molybdenum project is located 35 kilometres northeast of Clearwater, B.C. with similar geochem and geophysical signatures to the Crazy Fox Project. The Company is conducting a detailed geophysical (magnetometer) survey on the property.
MANAGEMENT
David Hjerpe, CEO and Director Mr. Hjerpe is a mining executive with significant experience. He was formerly the President of Hera Resources (1994-1997), International Taurus Resources (1988-1996) and Medallion Resources (1996-1997)
David Schmidt, President, CFO and Director Mr. Schmidt holds a B.A.Sc. (Mining) degree from the University of British Columbia with eight years experience as a consultant to mineral exploration companies.
James Morton, P. Geo., Director James has been a professional geologist since 1972 and is a member of the BC Association of Professional Engineers. He is also the President and a Director of Eastfield Resources and a Director of Cariboo Rose Resources.
SHARE STRUCTURE
Shares Outstanding (June 30, 2008) 30,690,079 Management/Directors: 15% Cash position: $1,500,000
Molybdenum (Mo)
Molybdenum is used as an alloy to strengthen steel, making it less susceptible to rust, corrosion, and as an industrial lubricant. The current price is US$30/lb (molybdenum oxide) and is expected to remain strong.
The worldwide annual demand is around 400 million pounds and consumption is projected to grow 4-5% per annum over the next decade which will tighten an already short supply. Oil and gas pipelines planned worldwide for over 80,000 km would use over 120,000,000 lbs of molybdenum. 13,000 tonnes of molybdenum are used to build one nuclear reactor with estimates of 150-250 new reactors commissioned by 2030.
Corporate Website:
http://www.newmacresources.com |