March 19, 207 - SYMC Resources Limited ("SYMC" or the "Company") (TSX-V: SY) is pleased to announce receipt of the 2006 Technical Report "Technical Report for the 2006 Diamond Drilling Program and the 2006 Prospecting Program on the Macktush Property" from consultant Jacques Houle, P.Eng. Key points from the report are summarized as follows:
- Revised and/or new indicated mineral inventory estimates established on seven targets, using a 1g/t gold block cut-off grade for the four Fred Acre gold-silver-copper quartz veins, and a zero grade block cut-off for the three MC Area copper-gold-silver quartz stockwork zones, tabulated as follows:
Vein/Zone
|
Tonnes |
Gold g/t
|
Silver g/t
|
Copper %
|
Category |
Source |
Fred Vein
|
65,475 |
13.91 |
48.1 |
0.59 |
Indicated |
Houle, 2007
|
Zinc Vein
|
35,710 |
8.97 |
44.5 |
0.57 |
Indicated |
Houle, 2007
|
Jack Vein
|
13,994 |
2.00 |
0.8 |
0.02 |
Indicated |
Houle, 2007
|
Moly Vein
|
504 |
4.27 |
1.5 |
0.01 |
Indicated |
Houle, 2007
|
MC1 Zone
|
21,851 |
0.26 |
6.9 |
0.43 |
Indicated |
Houle, 2007
|
MC2 Zone
|
138,499 |
0.33 |
5.2 |
0.47 |
Indicated |
Houle, 2007
|
MC3 Zone
|
17,618 |
0.38 |
1.0 |
0.05 |
Indicated |
Houle, 2007
|
- No further work recommended on Fred Area veins pending reconciliation of variations between historical and recent sampling, but additional drilling recommended on MC Zones particularly southwards where they appear to converge
- 982 metres in 11 holes of diamond drilling completed in 2006 on five known target areas, confirming structural continuity but yielding sub-economic grade intercepts significantly lower in gold, silver and copper than historical trench sampling results
- Prospecting completed in 2006 in the area surrounding the Rex MINFILE showing has identified an area of five by four kilometres with occasional quartz-sericite-chlorite-epidote alteration, common pyrite and occasional chalcopyrite-bornite mineralization in short, narrow veins exposed in old logging road cuts. The Rex area is underlain by tuffaceous to massive mafic volcanics intruded by N-S striking and steeply dipping feldspar porphyry intrusive dikes. The geophysical expression of the Rex area consists of co-incident magnetic and radiometric highs with a low-frequency resistivity low, and nine priority electromagnetic anomalies. The Rex represents a high quality porphyry copper-molybdenum-gold target, is the best undrilled exploration target on the Macktush Property, and clearly warrants drilling.
- Prospecting follow-up ground work completed in 2006 on four of five airborne electromagnetic anomaly clusters from 2005 survey yielded elevated values in key target and indicator elements from rock and stream moss mat samples taken in three areas, with selected rock assay or geochemistry highlights tabulated as follows:
| Area |
Sample |
Type |
Rock |
Width m
|
Au g/t
|
Ag g/t |
Cu %
|
Mo % |
Fe % |
| Rex |
343892 |
Outcrop grab
|
Vein |
0.25
|
2.713 |
29.00 |
13.91 |
0.009 |
30.83 |
| West |
343652 |
Float grab
|
Skarn |
|
0.045 |
2.500 |
1.372 |
0.002 |
55.73 |
Cous E.
|
312747 |
Outcrop chip
|
Skarn |
0.25 |
0.683 |
0.400 |
0.111 |
<0.001 |
35.67 |
Cous E.
|
343712 |
Outcrop grab
|
Skarn |
0.33 |
0.350 |
5.000 |
2.355 |
<0.001 |
6.22 |
Cous E.
|
343879 |
Outcrop grab
|
Volcanic |
1.0 |
0.424 |
2.000 |
0.805 |
<0.001 |
9.89 |
Cous E.
|
343778 |
Float grab
|
Vein |
|
0.035 |
3.800 |
2.831 |
<0.001 |
6.45 |
Cous N.
|
312746 |
Outcrop chip
|
Skarn |
0.50 |
0.097 |
3.400 |
0.246 |
<0.001 |
27.36 |
Cous N.
|
312742 |
Outcrop chip
|
Skarn |
0.50 |
0.184 |
17.50 |
0.373 |
<0.001 |
32.18 |
Cous N.
|
343726 |
Outcrop grab
|
Volcanic |
|
0.255 |
9.300 |
0.452 |
<0.001 |
26.85 |
| |
|
|
|
|
|
|
|
|
|
| Area |
Sample |
Type |
Rock |
Width m
|
Au g/t
|
Ag g/t
|
Cu %
|
Pb %
|
Zn %
|
Cous NW
|
343923 |
Outcrop grab
|
Volcanic |
1.0 |
0.057 |
0.600 |
0.044 |
0.150 |
0.630 |
Further work on the Macktush Property has been recommended by Mr. Houle, however, the Company will require further equity financing to fund this work.
The Company will also need to complete an archaeological review of the Rex area before proceeding with work on that portion of the Macktush property.
All of SYMC's work programs have been supervised by Jacques Houle, P.Eng., who is a qualified person under National Instrument 43-101 for the purposes of this news release.
The Company has also granted Incentive Stock Options to newly elected Directors in the aggregate amount of 500,000 common shares exercisable at $0.15 per share for periods of 5 years with expiry date to October 23, 2011. The Incentive Stock Options grants are pursuant to the Company's Stock Option Plan as outlined in the Information Circular dated June 2, 2005, as approved by the majority of shareholders of the Company at its Annual General Meeting held on June 30, 2005.
About SYMCSYMC is an active mining exploration company which owns three mineral properties in B.C. and is currently exploring them for gold, silver, copper and molybdenum.
Signed Herbert McMaster, President
For further information contact:
Herbert McMaster, President
(604) 723-7027
or
Mark T. Brown, CFO
(604) 687-3520
