Posted in | Molybdenum

NMC Resource Encounters Molybdenum Zones at Moland Mine

NMC Resource Corporation (TSX VENTURE:NRC) ("NMC Resource") - Over the past five years, a number of deep holes beneath the mine workings at the NMC Moland Mine have been drilled to trace the down dip extensions of the skarn type molybdenum zones.

These holes have been sponsored by KORES (Korea Resources Corporation) who assists Korean companies carry out exploration on a regional basis. For 2006, five holes were drilled from surface and underground. In 2009, three holes totalling 780 metres ("m") were drilled and in 2010, eight holes were completed and the results at the first seven were released in the news releases of NMC Resource dated September 22, 2010 and November 17, 2010. Hole NMK 06-03 drilled from surface intersected a unique zone classified as "siliceous porphyry" which was repeated by hole NMK 10-06 in a different direction, drilled from the 217 m level. This yielded 0.3045% MoS2 over 35 m, 135 m-170 m down the -80 ÌŠ angle hole. Holes NMK 06-01 and NMK 06-03 were therefore selected for reassay in Canada. The siliceous porphyry is interpreted to be a phase of a cupolar extending from the Cretaceous felsic intrusion immediately north of the mine.

Hole NMK 10-08 was completed in late November, 2010 from the 217 m level and is the last hole in the KORES 2010 program. It is located 50 m east of hole NMK 10-06 and NMK 06-03 and intersected 3 zones, with the lower zone being the continuation of the deep mineralization on hole NMK 10-06 and NMK 06-03. This 50 m continuation of the molybdenite mineralization encourages further deep drilling that is being planned for 2011 which will add to future resources at the mine.

Four one metre higher grade zones occur containing 0.1470%, 0.113%, 0.129% and 0.208% Mo are contained in the lower section. Rhenium (Re) values are being checked on any samples exceeding 0.3% Mo and typically yield 0.15 – 0.18 ppm Re. Concentrates from the mine containing 50 – 54% Mo Yield 7-8 grams Re.

Core lengths reported here represent 60% of the true thickness of the zone. Split drill core was shipped from the mine by secure courier to ALS Chemex in North Vancouver, B.C. where the core was crushed and pulverized to < 75 mm and a 0.5 gram representative sample was digested by aqua regia (3 acid) solution and then analyzed using ICP (Inductively Coupled Plasma). Assays exceeding >10,000 ppm Mo (1%) were reassayed with an ore grade aqua regia digestion and ICP analysis.

Supervision of the drilling and quality control of the sampling and assaying is being conducted by R. S. Middleton, P.Eng., who is acting as the "qualified person" as that term is defined in National Instrument 43-101. R. S. Middleton has reviewed and approved the technical information set out in this news release.

NMC Moland Mine has been in commercial production since April 2010.

Source: NMC Resource Corporation

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