TSX-V Symbol:
MXR
OTC BB Symbol: MXROF
Frankfurt: M1D
VANCOUVER, March 30 /PRNewswire/ - MAX Resource Corp. (TSXV:
MXR) (OTCBB: MXROF) (Frankfurt: M1D) has begun exploration at
its newly acquired Majuba Hill Copper/Gold/Silver property in
Pershing County, Nevada (see our news release of March 4,
2011). Excavation of drill sites has begun, with core
drilling scheduled to begin in April 2011 following completion of
drilling currently underway at MAX's nearby Table Top gold
project.
Majuba Hill is the site of a number of past
producing high-grade copper, gold and silver mines. Our
initial exploration program is designed to expand and define the
current zones of copper/silver mineralization as well as explore
new areas of the property where significant gold and silver values
have been reported but not yet followed up.
Majuba Hill encompasses 2,313 acres of surface
and mineral rights consisting of patented and unpatented lode
mining claims and private mineral rights. Majuba Hill is 30
miles northwest of Coeur d'Alene's Rochester Mine, which has
produced 127 million ounces of silver and 1.5 million ounces of
gold since 1986. The property is located halfway between the
Florida Canyon Mine (Jipangju) and the Hycroft Mine (Allied Nevada
Corporation) within the Western Nevada Gold Belt and is easily
accessed via 23 miles of well-maintained dirt roads leading from
U.S. Interstate 80.
Initial Exploration Targets - Myler and Last
Chance
Initial drilling at Majuba Hill will explore two
areas, the Myler Target Area and the Last Chance
Mine.
Since 1907, production and exploration at Majuba
Hill has produced outstanding copper results with associated silver
and gold. Published production data show that prior to 1947
Mason Valley Mines Co. and Greenan-Kerr produced 4,000 tons @ 12
% Cu and slightly less than 23,000 tons @ 4% Cu
respectively in the Myler Target Area. During
reverse-circulation drilling at the Myler Target area in 2007-2008,
Minterra Exploration reported a number of high-grade drill
intercepts, such as 145 ft @ 1.85 opt Ag and 0.49% Cu,
inclusive of 15 feet @ 5.01 opt Ag (hole MH-6) and 100 ft
@ 0.99 opt Ag, inclusive of 15 feet @ 4.00 opt Ag (hole
MH-5).
The Last Chance Mine was developed along
a fault with a trend similar to the Majuba Fault. Last Chance
operated intermittently and produced silver (up to 40 opt
Ag), lead (up to 15%), and gold (up to 0.10 opt Au) from
an 830 foot tunnel and a 117 foot deep shaft. No drilling or
exploration appears to have ever been completed down dip or along
the strike of the fault at Last Chance.
Subsequent exploration at Majuba Hill will be
expanded to include the Line Drive Adit and Section
35 areas. Mine Finders and Minterra conducted initial soil and
rock sampling at both the Line Drive Adit and Section 35 that
indicates that they are highly prospective for gold as well as
copper and silver, with rock chip samples reported as high as 10
g/t Au and 981 g/t Ag.
This news release has been reviewed by Clancy J.
Wendt, P. Geo, a qualified person as that term is defined under
National Instrument 43-101. Any historic information provided
has not been verified by MAX and is for reference only.
About MAX Resource Corp.
MAX Resource Corp. is a Canadian exploration
company with a diversified portfolio of mineral exploration
projects in the Western United States. We are currently
focused on precious metals in Nevada, with four gold and silver
properties being actively explored in 2011. For more
information, please visit our web site at www.maxresource.com.
On behalf of the Board of Directors of
MAX Resource Corp.
"STUART ROGERS"
Stuart Rogers
President
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
This News Release includes certain "forward
looking statements". Without limitation, statements regarding
potential mineralization and resources, exploration results, and
future plans and objectives of the Company are forward looking
statements that involve various degrees of risk. The following are
important factors that could cause MAX's actual results to differ
materially from those expressed or implied by such forward looking
statements: changes in the world wide price of mineral commodities,
general market conditions, risks inherent in mineral exploration,
risks associated with development, construction and mining
operations, the uncertainty of future profitability and the
uncertainty of access to additional capital.
SOURCE MAX Resource Corp.